The semiconductor industry has undergone an unprecedented wave of consolidation over the past 18 months, with both the volume of deals and their size standing out even in an industry that has always been heavy on mergers and acquisitions. In the first half of 2015 alone, the value of semiconductor acquisition deals was valued at about $72.6 billion, according to market research firm IC Insights Inc. This total is more than six times the annual average for M&A deals struck during the five previous years.