Findings from a study by Ernst&Young (E&Y) showed that there was a 14 per cent rise in the number of M&As between the fourth quarter of 2009 and the first quarter of 2010.
However, the total value of deals between the two periods dropped by two-thirds from $35.4 billion to $12.1 billion.
The majority of global technology deals were related to mobile applications, social networking and cloud computing, the study showed.
Joe Steger, Global Technology Transaction Advisory Services leader at E&Y, said: "The continued increase in the number of deals over the last four quarters is not surprising given the speed in which certain technologies are changing, the rebound in the overall operating performance of the technology industry, increases in the NASDAQ composite index and improvements in the broader economy.â
He added that the drop in value is in part due to larger firms looking to integrate technology acquisitions made during the second half of 2009.
Further findings from the report revealed that the value of cross-border transactions in the technology sector also fell between the two quarters.
The total value of transactions undertaken in the first part of 2010 was $3.2 billion after reaching $9.7 billion during the last three months of 2009.
By Jim Ottewill