Goldman Sachs and PwC were the top mergers and acquisitions (M&A) financial advisers in the technology, media, and telecom (TMT) sector for the first quarter (Q1) of 2023 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Financial Deals Database reveals that Goldman Sachs achieved the top position in terms of value by advising on $15.9 billion worth of deals. Meanwhile, PwC led in terms of volume by advising on a total of 20 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Despite the volatile market conditions, PwC experienced a marginal decline in deals volume during Q1 2023 compared to Q1 2022. However, due to the involvement in low-value transactions, it did not feature among the top 10 by value.

“Meanwhile, Goldman Sachs, despite advising much lesser number of deals compared to PwC, managed to top by value due to the involvement in big-ticket deals. It advised on three billion-dollar deals*.”

Morgan Stanley occupied the second position in terms of value, by advising on $10.6 billion worth of deals, followed by Evercore with $10.2 billion, Bank of America with $8.1 billion and JP Morgan with $7.8 billion.

Meanwhile, Houlihan Lokey occupied the second position in terms of volume with 15 deals, followed by KPMG with 10 deals, Rothschild & Co with nine deals and BDO with eight deals.

*Valued more than or equal to $1 billion.