Analysis of the key themes driving M&A activity reveals that online payments accounted for 10 financial services deals announced in Q3 2023, worth a total value of $3.1bn. The $2.5bn merger of IDFC and IDFC First Bank and PayU Global was the industry’s largest disclosed deal. GlobalData’s Banking and Payments Industry Mergers and Acquisitions Deals by Top Themes report for Q3 2023 unveils the driving forces behind the M&A activities in the industry, providing crucial insights into trends and shifts. Buy the report here.
In value terms, online payments-related deal activity decreased by 38% in Q3 2023 compared with the previous quarter’s total of $5bn and rose by 495% as compared to Q3 2022. Related deal volume decreased by 29% in Q3 2023 versus the previous quarter and was 38% lower than in Q3 2022.
The top-ranked financial advisors supporting these M&A deals in Q3 2023 were Barclays; Bank of Montreal; Deloitte Touche Tohmatsu with 3, 1, 1 deals respectively.
The top-ranked legal advisors supporting these M&A deals in Q3 2023 were Allen & Overy; Clifford Chance; Cravath, Swaine & Moore with 3, 1, 1 deals respectively.
For further understanding of GlobalData's Banking and Payments Industry M&A Deals by Top Themes in Q3 2023 â€“ Thematic Intelligence, buy the report here.