Merger and acquisition activity remained strong in Ireland last year, with deal value rising substantially to €189bn, according to corporate law firm William Fry.
That compares to €45.3bn in 2014 - though the bulk of the increase is explained by a single deal involving pharmaceutical firms Pfizer and Allergan, which was valued at €172.6bn.
The review shows the technology, media and telecommunications accounted for almost one third of all deals struck last year, while the leisure sector made up a further 13%.
Property deals continued to recover in 2015, with the sector responsible for 6% of overall volume, compared to 3% in 2014.
While the bulk of the value recorded last year involved foreign firms acquiring Irish-based players, indigenous companies were also actively seeking deals overseas.
According to William Fry, half of all transactions with an Irish element were outbound, which has been boosted by increased access to finance.
While the value of mergers and acquisitions last year increased, the volume of deals dropped to 104, from 120 in 2014.
Commenting on the review, Head of Corporate and M&A at William Fry Shane O’Donnell said: “Last year saw the highest ever level of outbound deals, showing Irish businesses are now strong and confident enough to grow their global footprint.
“We also saw a change in the mix of sectors recording deals, with technology, media and telecommunications dominating for the first time ever, reflecting the fast-paced evolution of these businesses and the opportunities being seized by mid-market sized firms to either grow through acquisition or to sell their business,” he added.
