Tech Industry IPOs Hit Decade-High Levels in 2014

By Dennis McCafferty

The market for initial public offerings (IPOs) in the global tech industry in 2014 was the strongest in 10 years, according to research recently released by PwC. The IT sector's performance was driven by strong capital markets, relatively low volatility, the opening of the IPO market in China and improved conditions in Europe. (Contributing to the activity was a whopper of an offering for Alibaba.com, which was the largest ever at $21.8 billion raised.) As for the tech niche that came out on top? That would be the Internet software and services sector, which saw nearly four-dozen IPOs and a more than sixfold surge in money raised. "What's impressive about 2014 results is not just that it was the best technology IPO market of the decade, but that there was such broad participation across the globe," said Raman Chitkara, global technology industry leader for PwC. "There is great excitement about the opportunities technology is bringing to all industries, as is evident from the strong investor enthusiasm for IPOs of technology companies." PwC's research is based upon its analysis of transaction data extracted from Dealogic.

This article was originally published on 2015-03-09