The optimism after the Social Security reform approval and the vitality of segments such as technology and internet services contributed to the spike in the number of mergers and acquisitions in Brazil last year.

There were 1,231 transactions, according to a KPMG survey published by the Valor Econômico newspaper, the largest number since 1999, the beginning of the consulting firm’s historical series.

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Of this total, 351 transactions (28.5%) refer to transactions involving Internet service and information technology companies.

According to KMPG, the first funds and companies to respond to signs of economic recovery were the Brazilian ones. Domestic transactions have more than doubled in the last three years, jumping from 378 in 2018 to 550 in 2018, and then to 782 last year.