1. Deals Analysis
March 16, 2021

Asia-Pacific’s technology industry saw a drop of 22.97% in cloud deal activity during February 2021

By Carmen

Asia-Pacific’s technology industry saw a drop of 22.97% in cloud deal activity during February 2021, when compared with the last 12-month average, led by BYD Auto, Changzhou Xingyu Car Lamp, Dongfeng Asset Management, Great Wall Motor, Shanghai AI Innovation and Sunny Optical Technology (Group)’s $350m acquisition of Horizon Robotics, according to GlobalData’s deals database.

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A total of 57 technology industry cloud deals worth $976.82m were announced for the region in February 2021, against the 12-month average of 74 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 40 transactions, representing a 70.2% share for the region.

In second place was M&A with 15 deals, followed by private equity deals with two transactions, respectively capturing a 26.3% and 3.5% share of the overall cloud deal activity for the month.

In terms of value of cloud deals, venture financing was the leading category in Asia-Pacific’s technology industry with $742.01m, while M&A and private equity deals totalled $219.35m and $15.46m, respectively.

Asia-Pacific technology industry cloud deals in February 2021: Top deals

The top five technology cloud deals accounted for 68.6% of the overall value during February 2021.

The combined value of the top five technology cloud deals stood at $670.02m, against the overall value of $976.82m recorded for the month.

The top five technology industry cloud deals of February 2021 tracked by GlobalData were:

1) BYD Auto, Changzhou Xingyu Car Lamp, Dongfeng Asset Management, Great Wall Motor, Shanghai AI Innovation and Sunny Optical Technology (Group)’s $350m venture financing of Horizon Robotics

2) The $150m acquisition deal with Haygot Education by Think and Learn

3) BAI Capital, GGV Capital, Huaxing New Economy Fund, Lightspeed China Partners, Temasek Holdings (HK) and Zhen Fund’s $77.07m venture financing of Shanghai Blacklake Technology

4) The $46.57m venture financing of Shanghai Gaozhong Information Technology by Qingdao Guoxin Financial Holding, Qingdao Jiaozhou Industrial Fund and Qingdao Urban Construction Investment (Group)

5) Youzan’s venture financing of Shanghai Bojun Software Technology for $46.39m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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