More tech startups in the UK went public or were acquired than in any other country in the world behind only the US at the start of the year, new research reveals.
There were 135 mergers or acquisitions in the second quarter of the year in the UK, accounting for 65 per cent of all activity across Europe, and there was one IPO, according to the new figures from CB Insights.
Global tech IPO activity started to pick up in the second quarter of the year, however, the scarcity in the first quarter meant the first half of 2016 is still down 41 per cent on the same time last year.
There were 820 exits globally in total in the quarter, 16 of which were IPOs, including Twilio and NantHealth.
Meanwhile, more so-called unicorns – tech startups valued at more than $1bn (£770m) – are proving their worth by going public or being acquired than are being created.
There were five exits worth more than one billion dollars in the quarter and just four unicorns born, the first time exits have overtaken creations in six consecutive quarters.