Report: R.I. 37th for tech exits in 2016

RHODE ISLAND ranked 37th in the nation for its number of tech exits in 2016, according to CB Insights. / COURTESY CB INSIGHTS
RHODE ISLAND ranked 37th in the nation for its number of tech exits in 2016, according to CB Insights. / COURTESY CB INSIGHTS

PROVIDENCE – Rhode Island ranked 37th in the nation for its number of exits for tech startups last year, while California, Texas and Massachusetts held the top three spots for having the most, according to the 2016 Global Tech Exits Report from CB Insights.

The report, from CB Insights, found that total tech exits globally declined 4 percent, with 3,260 mergers and acquisitions and 98 initial public offerings last year, versus 3,421 M&A exits and 90 IPOs in 2015.

Released Tuesday, the report analyzes global tech exits including mergers and acquisitions and initial public offering trends, as well as venture capital-backed exit trends.

In the U.S., there were more than 1,650 M&A exits and 25 IPOs. Google also was the most active acquirer in 2016, according to the report, taking over Eyefluence and API.AI.

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The U.S. ranked the highest among countries for its number of tech exits last year, followed by the United Kingdom, India, Canada and Germany.

Internet exits dominated in the U.S., accounting for 55 percent of all exits. Internet exits dominated in all of the top five countries.

Seventeen percent of U.S. exits involved mobile and telecommunications, with software, and computer and hardware services each at 11 percent, electronics at 5 percent and consumer products and services at 1 percent.

In the ranking of states according to tech exits, Rhode Island tied with New Mexico, Iowa and Delaware for 37th. Connecticut and New Hampshire tied for 24th, and Vermont was 33rd. Maine was not included.

SV Angel is the top venture capital investor in exited tech companies, the report said.

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