Tech sector hot, but no bubble: analyst study

KEEP CALM AND CARRY ON: A Yelp employee in New York. Many buyers in other regions targeted US technology companies as part of a search for growth in an uncertain global economy, the report said.

NEW YORK: Dealmaking in the tech sector jumped last year to the highest levels since the dot-com boom, a consultancy report said. 

But the Ernst and Young report said the sector is not in “bubble” territory and that the vast majority of the deals over the past year were based on “reality-based” valuations.