ISTANBUL: The value of disclosed mergers and acquisitions in Turkey totaled $6.9 billion in 2020 and is expected to rise to at least $10 billion this year, KPMG said on Monday, bouncing back from a 15-year low in 2019.

Together with undisclosed deals in 2020, the value was estimated at $9 billion, Turkey M&A Advisory partner Gokhan Kacmaz said.

Last year's deals, boosted by US mobile game maker Zynga's $1.8 billion purchase of Turkish gaming company Peak, compared with just $2.9 billion in 2019.

KPMG expects a billion-dollar M&A deal in the technology sector this year, Kacmaz told a news conference. He gave no details, saying only that more unicorn deals were possible, although probably smaller than the Peak valuation.

Musfik Cantekinler, Head of Advisory at KPMG Turkey, said M&As are expected to reach at least $10 billion in 2021, and added that the Turkey Wealth Fund is expected to be active.

Kacmaz added that initial public offerings were expected to increase in 2021, adding that companies in e-trade, telecommunications, media and production were preparing to go public.