SPACs Reemerge

Recently we've been hearing a lot more about Special Purpose Acquisition Companies (SPACs). SPACs are designed by companies for the sole purpose for acquiring companies. Back in 2007 they helped raise over $12 billion in 66 transactions. This was of course before the recession went into full swing. Nowadays these SPACs aren't doing so well, at all. Back in 2003 there were 161 SPAC IPOs, since that time 72 of them have acquired targets and another 51 have been liquiated. Nowadays there are only 35 surviving SPACs and 15 of those are still looking for target companies. Its not unlikely that many of these surviving SPACs will liquidate. I have to wonder if this accurately reflects the M&A market of today. Is it just a dying business type or is it an example of what is to come for M&A?