Changes in consumer behavior are fueling growth in digital media and e-commerce, creating opportunities for transactions. "This sector of the overall middle market for M&A continues to see constant and exciting innovation in products, content and programming," said Tanya Marvin-Horowitz, managing director, Allegiance Capital Corp., and chair of ACG New York's Third Annual Digital Media & Technology M&A Conference. "This translates into an exciting, but sometimes unpredictable, mergers and acquisitions environment."

Among the trends explored at the 2013 conference were the proliferation of mobile devices, including smartphones and tablets, and the unprecedented power of the individual consumer. Expect to see something of a land grab for startups that take advantage of these trends. Indeed, Internet pioneers, including eBay Inc. (Nasdaq: EBAY), Google Inc. (Nasdaq: GOOG) and Yahoo Inc. (Nasdaq: YHOO), are rapidly gobbling up young companies that leverage mobile devices. (For more, see "Yahoo Continues Startup Buying Spree" in Watercooler.)

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