1. Deals Analysis
March 16, 2021

Asia-Pacific’s technology industry saw a rise of 10.64% in cross border deal activity during February 2021

By Carmen

Asia-Pacific’s technology industry saw a rise of 10.64% in cross border deal activity during February 2021, when compared with the last 12-month average, led by Match Group’s $1.73bn acquisition of Hyperconnect, according to GlobalData’s deals database.

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A total of 104 technology industry cross border deals worth $2.92bn were announced for the region in February 2021, against the 12-month average of 94 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 68 transactions, representing a 65.4% share for the region.

In second place was M&A with 34 deals, followed by private equity deals with two transactions, respectively capturing a 32.7% and 1.9% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s technology industry with $1.95bn, while venture financing and private equity deals totalled $769.27m and $200.02m, respectively.

Asia-Pacific technology industry cross border deals in February 2021: Top deals

The top five technology cross border deals accounted for 77% of the overall value during February 2021.

The combined value of the top five technology cross border deals stood at $2.25bn, against the overall value of $2.92bn recorded for the month.

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

1) Match Group’s $1.73bn acquisition of Hyperconnect

2) The $200m private equity deal with Indegene Lifesystems by Brighton Park Capital and The Carlyle Group

3) Greenoaks Capital Management, Kae Capital ManagementLtd., Lightspeed Management Company and Sequoia Capital India’s $120.21m venture financing of ZetwerkLtd.

4) The $100m venture financing of Guangzhou Quwan Network Technology by Jingwei China and Orchid Asia Group Management

5) Glade Brook Capital Partners and Qatar Investment Authority’s venture financing of Verse Innovation for $100m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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