While the volume and value of Canadian mergers and acquisitions has rebounded from the second quarter of 2020, the pandemic has spurred a shift in why businesses seek out deals, according to a new report from the Business Development Bank of Canada. In its survey of 1,500 small and medium-sized enterprise (SME) leaders, the percentage of respondents who said gaining new talent motivated acquisitions rose from 20 to 30 per cent, while those who said obtaining technologies climbed from 14 to 25 per cent. (The Logic)

Talking point: The report also found that between 2016 and 2020, the number of Canadian SMEs that bought foreign companies was almost double that of foreign firms buying Canadian ones. “We found that there is no need to fear foreign takeovers of Canadian businesses,” BDC chief economist Pierre Cléroux wrote. As my colleague Martin wrote, more Canadian companies are buying U.S. tech firms thanks to low-interest rates and Biden administration policies. Meanwhile, Canaccord Genuity’s profit surged 87 per cent from a year earlier, driven by a record quarter for M&A fees.