Sixty-five venture-backed companies were acquired through mergers or acquisitions for a total of $1.34 billion in the first quarter, according to the National Venture Capital Association and Thomson Venture Economics. In the fourth quarter, 83 companies were acquired for $1.62 billion.
Despite the general decline, some industry sectors saw increases in total transaction values in the first quarter. In information technology services, there were five deals valued at a total of $287.3 million, compared with six deals valued at $6.2 million in the fourth quarter. The spike was mostly due to Nextel Communications $276 million acquisition of NeoWorld.