1. Deals Analysis
May 5, 2021

Asia-Pacific’s technology industry saw a rise of 31.08% in cross border deal activity in Q1 2021

By Carmen

Led by $1.73bn acquisition of Hyperconnect by Match Group, Asia-Pacific’s technology industry saw a rise of 31.08% in cross border deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 369 cross border deals worth $12.83bn were announced for the region during Q1 2021, against the last four-quarter average of 281.50 deals.

Of all the deal types, venture financing saw most activity in Q1 2021 with 241 deals, representing a 65.3% share for the region.

In second place was M&A with 116 deals, followed by private equity deals with 12 transactions, respectively capturing a 31.4% and 3.3% share of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, venture financing was the leading category in Asia-Pacific’s technology industry with $5.86bn, while M&A and private equity deals totalled $5.61bn and $1.36bn, respectively.

Asia-Pacific technology industry cross border deals in Q1 2021: Top deals

The top five technology cross border deals accounted for a 41.9% share of the overall value during Q1 2021.

The combined value of the top five cross border deals stood at $5.38bn, against the overall value of $12.83bn recorded for the quarter.

The top five technology industry cross border deals of Q1 2021 tracked by GlobalData were:

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

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

3) Bentley Systems’ $1.05bn acquisition of Seequent

4) The $700m venture financing deal with Beijing Wusi Chuangxiang Technology by Beijing Xicheng Jinrui Equity Investment Fund Management, Boyu Capital Consultancy, China Development Bank, China ReformLtd, CSC Financial, FountainVest Partners, Goldman Sachs Asia Securities, Haitong Securities, HOPU Jinghua (Beijing) Investment ManagementLimited, JIC TechnologyLimited, JinYi Capital, National Manufacturing Transformation and Upgrading Fund, Primavera Capital Group and Sequoia Capital China

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

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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