Public markets are riding high, and many big tech acquirers are flush with cash. However, it’s a very dull year for big acquisitions of private technology companies.

Seven months into 2017 and we’ve seen just one big unicorn M&A deal: Cisco’s $3.7 billion purchase of AppDynamics. And that was back in January. Two other one-time unicorns acquired this year, data management technology provider SimpliVity and Middle Eastern online retailer, sold for well below their peak private valuations.

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Source: TechCrunch