Business

New York is now No. 2 state for tech M&A deals

New York has emerged as a hub not just for startup investments, but also for firms looking to buy or merge with privately held tech companies, according to a new report.

With 138 deals, New York state saw the second-highest number of tech mergers and acquisitions in 2012, right after behemoth California, the CB Insights analysis found.

“New York has established itself as a tech hub for venture investment. As more tech companies are now founded and built in New York, acquirers are increasingly looking to New York as a place to find acquisitions,” said CB Insights CEO Anand Sanwal.

But the Left Coast is still where most of the gold is, with 439 companies in California picking up privately held businesses. Google and Facebook led acquisitions last year, with 12 each.