Australia’s technology industry saw a flat growth in overall deal activity during Q2 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 66 deals worth $3.58bn were announced in Q2 2019, compared to the last four-quarter average of 66 deals.

Venture financing was the leading category in the quarter with 31 deals which accounted for 47% of all deals.

In second place was M&A with 30 deals, followed by private equity with five transactions, respectively accounting for 45.5% and 7.6% of overall deal activity in the country’s technology industry during the quarter.

In terms of value of deals, M&A was the leading deal category in Australia’s technology industry with total deals worth $3.01bn, while private equity and venture financing deals totalled $350.42m and $223.09m, respectively.

Australia technology industry deals in Q2 2019: Top deals

The top five technology deals accounted for 94.3% of the overall value during Q2 2019.

The combined value of the top five technology industry deals stood at $3.38bn, against the overall value of $3.58bn recorded for the quarter. The top announced Australia technology industry deal tracked by GlobalData in Q2 2019 was AGL Energy’s $2.79bn acquisition of Vocus Group.

In second place was the $346.31m private equity deal with Superloop by QIC Private Capital and in third place was Bravura Solutions’ $122.62m acquisition of GBST.

The $70m venture financing of Canva by Blackbird Capital Partners, Bond Capital Partners (UK), Felicis Ventures and General Catalyst Partners and QTS Realty Trust’s asset transaction with Tcn Sig Telehousing for $44m held fourth and fifth positions, respectively.

Verdict deals analysis methodology

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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.