CHICAGO – The number of mergers and acquisitions in the electronics manufacturing services sector fell by half in 2009, according to a leading investment bank.

Lincoln International counts 24 completed EMS transactions in 2009, down from 48 in 2008.

One new trend was that half the transactions were vertical/horizontal convergences, down from 35% last year, the firm observed.

The number of consolidations dropped to six, down from 19 in 2008. EMS divestitures dipped to three from five in 2008, while OEM divestitures fell to one from four.

Europe was home to the largest number of deals (10), while six took place in the US and two in Asia.

The counts do not include the blowup of Jurong Hi-Tech, the Singapore EMS company that fell apart last spring due to accounting irregularities. Jurong was ranked 26^th in 2008 on the CIRCUITS ASSEMBLY Top 50.

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