The deal market might be sparked to move with Facebook buying Instagram. See the New York Times story here. Instagram is barely three years old. But its competitive advantages in the photo sharing area was just too much for Facebook.
Also, Microsoft paid over one billion dollars for some of AOL's patents. Read the New York Times story here. This deal is a reminder of how important intellectual property can be when running a business.
As there haven't been many deals lately, this might get the money moving a little bit. Balance sheets are full of cash and there needs to be something done with the cash.