Asia-Pacific’s technology industry saw a rise of 19.67% in deal activity during March 2021, when compared with the last 12-month average, led by Beijing ByteDance Technology’s $4bn acquisition of Shanghai Mutong Technology, according to GlobalData’s deals database.

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A total of 578 technology industry deals worth $16.81bn were announced for the region in March 2021, against the 12-month average of 483 deals.

Of all the deal types, venture financing saw most activity in March 2021 with 401 transactions, representing a 69.4% share for the region.

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In second place was M&A with 163 deals, followed by private equity deals with 14 transactions, respectively capturing a 28.2% and 2.4% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in Asia-Pacific’s technology industry with $8.97bn, while venture financing and private equity deals totalled $7.2bn and $631.15m, respectively.

Asia-Pacific technology industry deals in March 2021: Top deals

The top five technology deals accounted for 45.8% of the overall value during March 2021.

The combined value of the top five technology deals stood at $7.7bn, against the overall value of $16.81bn recorded for the month.

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

1) Beijing ByteDance Technology’s $4bn acquisition of Shanghai Mutong Technology

2) The $1.4bn acquisition deal with Magnachip Semiconductor by Michigan Merger Sub and South Dearborn

3) Bentley Systems’ $1.05bn acquisition of Seequent

4) The $750m asset transaction with Indosat Ooredoo by PT EPID Menara AssetCo

5) Daimler, Robert Bosch, SAIC Motor, Temasek Holdings (Private), Tencent Holdings, Toyota Motor and Yunfeng Capital’s venture financing of Momenta.ai for $500m.