The North West region’s technology, media, and telecom (TMT) sector is experiencing unprecedented growth in its business deals. Recent data reveals a dramatic increase in outbound cross-border transactions, showcasing the region’s expanding global influence.
This remarkable growth is backed by new analysis from Deloitte and Experian, highlighting over double the number of outbound deals compared to the previous period. Such developments underscore the North West’s emergence as a key player on the international TMT stage.
The technology, media, and telecom (TMT) sector in the North West has seen a remarkable surge in outbound cross-border deals. Since 2015, businesses in this region have completed 27 transactions involving 14 different countries. This is a significant increase from just 11 transactions with seven countries in the prior two years. These figures highlight the region’s growing impact on the global stage.
Other notable transactions include Toshiba Corporation’s £110 million purchase of a further 40% stake in NuGeneration Ltd, a key player in nuclear development. The £100 million acquisition of Utiligroup Ltd by Energy Services Group also stands out. Such investments indicate robust interest from international buyers.
Sir Howard Bernstein, a strategic advisor at Deloitte, remarked on this development as a positive reflection on the North West’s potential as a technology hub. Such interactions are seen as pivotal for the region’s contribution to the Northern Powerhouse.
These high-value transactions indicate an increasing appetite for significant investments by North West firms. It not only reflects their ambition but also highlights their capability to engage in substantial global transactions.
Claire Jolly of Deloitte stated, “Year on year, we see the rates of investment in North West TMT businesses grow rapidly,” reinforcing the region’s progressive trajectory in technological advancements.
As the North West continues to leverage its technological prowess, it plays an essential part in this ambitious economic endeavour. Such progress reflects a concerted effort to bolster regional growth through technological innovation and international collaborations.
As these trends persist, the North West’s strategic importance in the global technology arena is expected to grow. This progression promises further opportunities for innovation and economic advancement, marking a significant period of transformation for the region.
The North West’s TMT sector is thriving, demonstrating remarkable growth in international transactions and investments. With strong ties to U.S. firms and a reputation as an innovation hub, the region is set to continue its upward trajectory. This growth is crucial for the Northern Powerhouse, signalling a promising future for technological and economic development.