Information technology companies in North America struck 139 M&A transactions worth a total of $9.15 billion in March, representing a significant decrease in both the number of deals and their aggregate value compared with the same period in 2022, according to S&P Global Market Intelligence data.

By comparison, there were 231 transactions with a total value of $26.29 billion in March 2022, indicating a current slowdown of M&A activity in the sector.

The sector's total deal value in March also decreased from the previous month, when 150 transactions with an aggregate value of $16.50 billion were announced.

Three transactions in March surpassed the $1.00 billion mark, with the two biggest deals involving private equity firms.

The largest of these was event software provider Cvent Holding Corp.'s planned $4.35 billion sale to a group of investors, including Abu Dhabi Investment Authority and Blackstone Inc.

Symphony Technology Group LLC's proposed $1.72 billion acquisition of Momentive Global Inc., the maker of SurveyMonkey, ranked second in terms of deal value.

* Read the terms of February's largest infotech M&A transaction. * Run a custom screen of M&A by industry or geography on S&P Capital IQ Pro's Transactions Statistics page.

The other deal that surpassed the $1.00 billion mark in March was T-Mobile US Inc.'s planned acquisition of Kaenaa Corp., which has a transaction value of $1.35 billion.

Private equity firm Silver Lake Technology Management LLC and Canada Pension Plan Investment Board's planned $11.17 billion takeover of software company Qualtrics International Inc. is the largest infotech deal year-to-date.