IPO or M&A?

IPO or M&A?
In the US, IPOs have not really the favor. VCs are well aware that the public markets are still a tough place, while M&A are a far more attractive exit strategy. In number of venture-backed telecom companies deals, score is 3 to 39. More globally, U.S. companies brought $27bn in 356 transactions in 2005, a highest since the telecom bubble, when 458 U.S. companies were acquired for $98bn. IT companies dominated the M&A activity with an aggregate value of $11.7bn for 221 transactions.