Menlo Park, California -- North American venture capital database VentureDeal tracks M&A transactions for technology startups.
The chart below shows the geographic distribution by state for 199 publicly disclosed M&A deals in the technology venture capital ecosystem:
It was no great surprise that California represented the most activity, with 89 deals for the period.
Also not surprisingly, New York came in second with 25 and Massachusetts came in third with 13 deals.
The Lone Star State, Texas, accounted for nine M&A transactions.
The far right column in the chart, marked "blank", represents Canadian M&A deals, which rounded out the top five performing geographies at 8 transactions for the roughly 9 month period time frame.
Notably, 23 states were represented, out of a total of 50 states, or 46% of the total number of states in the US.
We think this result is healthy for the venture backed ecosystem. Even though California still retains the lion's share of activity, other geographies are participating in the recycling of venture capital.
We also believe this is a continuing trend as the cost of starting companies remains low and great ideas coupled with execution can come from many geographic regions.