1. Deals Analysis
April 28, 2021

Asia-Pacific’s technology industry saw a rise of 43.88% in cross border deal activity during March 2021

By Carmen

Asia-Pacific’s technology industry saw a rise of 43.88% in cross border deal activity during March 2021, when compared with the last 12-month average, led by Michigan Merger Sub and South Dearborn’s $1.4bn acquisition of Magnachip Semiconductor, according to GlobalData’s deals database.

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A total of 141 technology industry cross border deals worth $6.54bn were announced for the region in March 2021, against the 12-month average of 98 deals.

Of all the deal types, venture financing saw most activity in March 2021 with 91 transactions, representing a 64.5% share for the region.

In second place was M&A with 48 deals, followed by private equity deals with two transactions, respectively capturing a 34.04% and 1.4% 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 $3.16bn, while venture financing and private equity deals totalled $2.82bn and $556m, respectively.

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

The top five technology cross border deals accounted for 57.4% of the overall value during March 2021.

The combined value of the top five technology cross border deals stood at $3.75bn, against the overall value of $6.54bn recorded for the month.

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

1) Michigan Merger Sub and South Dearborn’s $1.4bn acquisition of Magnachip Semiconductor

2) The $1.05bn acquisition deal with Seequent by Bentley Systems

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

4) The $400m venture financing of Dream11 Fantasy by ChrysCapital Management, D1 Capital, Falcon Edge Capital, Footpath Ventures, Steadview Capital Management, TCMI, Tiger Global Management and TPG Capital

5) ChrysCapital Management, D1 Capital, Falcon Edge Capital, Footpath Ventures, Steadview Capital Management, Tiger Global Management, TPG Growth Capital (Asia) and TVC Capital’s venture financing of Dream Sports for $400m.

Verdict deals analysis methodology

This analysis considers only announced and completed cross border 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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