Deal volume in the consulting, technology, and digital services sector remained strong in Q4, despite a continued pullback in deal activity over the previous few quarters. 357 deals closed in Q4, which was down from the 405 deals that closed in Q3. The general trend in deal activity over the previous few quarters is likely the result of higher interest rates affecting PE appetite within the IT services market. However, dealmaking was counterbalanced by strong demand amongst strategic acquirers.