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U.S. tech companies were busy striking big deals last year. And they are showing no signs of slowing down in 2015.
The number of merger and acquisition deals increased 36 percent to 277 deals from 204 in 2013 and deal values jumped 62 percent to $161.4 billion, according to a PricewaterhouseCoopers report published Monday.
And with tech giants continuing to be flush with cash, it's likely the acquisition spree will continue into 2015.
"As we consider the almost $350 billion in cash and securities on hand at the top 25 technology companies, record levels of private equity dry powder waiting to be deployed, and see indications of full pipelines from every angle of the market, 2015 promises to be another exciting year in technology M&A," according to the report.
Google has already been busy making deals. Earlier this month, the search company purchased LaunchPad Toys, which is a tech company that makes apps for kids. And on Monday the company said it was acquiring some technology from Softcard, a mobile payments app that is backed by some of the biggest wireless carriers.
Growth in cloud computing, the emergence of the Internet of Things and other technologies like drones and robots will likely be areas companies are looking to invest, according to the report.