Tech mergers and acquisitions may be down as a reflection of the overall global economy, but software and on-demand offerings represent a greater role as more enterprises buy into cloud and SaaS resources, according to a new industry assessment.

Analyst firm PricewaterhouseCoopers on Monday released its analysis of disclosed technology sector deals valued at greater than $15 million for the second quarter of 2012. Through an overall unstable global economic situation, tech sector deals represented one-fifth of all transactions so far in 2012, according to the firm’s report. There were 55 mergers and acquisitions during the second quarter, down from 65 in the first three months of the year but reflecting an 8 percent jump in value to $31.8 billion. By comparison, there were 85 deals in the second quarter of 2011 with a cumulative value of $26.8 billion.

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