New figures show that merger and acquisition activity with any Irish involvement reached a total of $24.2 billion during the first nine months of 2022.
This was down 72% from last year which saw the second highest first nine-month total since the London Stock Exchange Group started colating the figures in 1980.
The figures from the LSEG shows that deals worth $2.1 billion were agreed during the third quarter - this marked the lowest quarterly total in two years.
A total of 429 deals with Irish involvement were announced during the first nine months of 2022, today's figures show.
Irish auto technology firm Aptiv agreed a deal to buy Californian software developer Wind River Systems for $4.3 billion in January, the largest deal with Irish involvement so far during this year.
Meanwhile, the largest deal involving an Irish target was a $1.6 billion bid from Japan's SMBC Aviation Capital to buy the commercial aircraft leasing business of Dublin-based Goshawk Aviation.
The LSEG said that deals worth $8.7 billion involved an Irish target, 49% less than the value recorded during the same time in 2021.
Inbound M&A involving a foreign buyer reached $8 billion, while domestic deals totalled $734.9m.
Ian McFarlane, Ireland Country Manager at London Stock Exchange Group, said Irish M&A for the first nine months of the year was down on last year's record year.
But he added that Irish M&A activity and volumes continue at near record levels despite uncertain macro-economic conditions from high inflation, rising interest rates and economic challenges from the war in Ukraine.
"Macro-economic challenges pose a risk for activity but Irish M&A continues to remain strong and top of the agenda for global M&A investors with technology, industrials and the aircraft leasing sector firmly in the spotlight," Mr McFarlane said.
Today's figures also show that Goldman Sachs was the top financial advisor for M&A with any Irish involvement during the first nine months of 2022.
