Tech heavy NASDAQ is down close to 40% since mid-January 2008. Two years with no IPO market. Economic crisis wreaking havoc throughout all industries globally. Yet software and IT transaction volumes are only off 22%. Why? One reason is there are simply more buyers. Many of the large technology buyers have amassed large cash reserves which they will continue to use opportunistically. In addition to the large buyer, many mid-sized firms, both public and private, are actively acquiring right now. These firms are using M&A to remain competitive, technologically relevant and possibly grow, but are also positioning themselves for when the equity markets rebound and IPO markets open. This is good news for small to mid size software company considering an exit.