Led by Foxconn Industrial Internet’s $1.46bn acquisition deal for 17.9% stake in Tsinghua Unigroup, Asia-Pacific’s technology industry saw a drop of 8.43% in artificial intelligence deal activity during Q3 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 258 artificial intelligence deals worth $4.4bn were announced for the region during Q3 2022, against the last four-quarter average of 281.75 deals.
Of all the deal types, venture financing saw most activity in Q3 2022 with 220 deals, representing an 85.3% share for the region.
In second place was M&A with 35 deals, followed by private equity deals with three transactions, respectively capturing a 13.6% and 1.2% share of the overall artificial intelligence deal activity for the quarter.
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In terms of value of artificial intelligence deals, venture financing was the leading category in Asia-Pacific’s technology industry with $2.07bn, while M&A and private equity deals totalled $1.6bn and $725.12m, respectively.
Asia-Pacific technology industry artificial intelligence deals in Q3 2022: Top deals
The top five technology artificial intelligence deals accounted for a 67.8% share of the overall value during Q3 2022.
The combined value of the top five artificial intelligence deals stood at $2.97bn, against the overall value of $4.4bn recorded for the quarter.
1) Foxconn Industrial Internet’s $1.46bn acquisition deal for 17.9% stake in Tsinghua Unigroup
2) The $718.86m private equity of Nearmap by Thoma Bravo
3) Beijing Xinding Rongsheng Capital Management, El Camino Capital, GF Xinde Investment Management, Hanhai, Hina Group Fund, Industrial Bank, Northbeta Yinuo Capital, Summitview Capital and Yangzijiang Financial Holding’s $500m venture financing deal with Black Sesame Intelligent Technology
4) The $150m venture financing of RoboSense by China Structural Reform Fund and Mirae Asset Securities
5) HOPU Fund II, HOPU-Arm Innovation Fund, Shanghai guosheng (group), Vista Investments and ZGC Science City Science and Technology Growth Fund’s $148.68m venture financing deal with Iluvatar CoreX