Australia’s technology industry saw a drop of 31.03% in overall deal activity during Q2 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 60 deals worth $748.4m were announced in Q2 2020, compared to the last four-quarter average of 87 deals.

Venture financing was the leading category in the quarter with 37 deals which accounted for 61.7% of all deals.

In second place was M&A with 22 deals, followed by private equity with one transactions, respectively accounting for 36.7% and 1.7% 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 $459.63m, followed by private equity deals totalled $288.77m.

Australia technology industry deals in Q2 2020: Top deals

The top five technology deals accounted for 73.1% of the overall value during Q2 2020.

The combined value of the top five technology deals stood at $546.75m, against the overall value of $748.4m recorded for the month.

The top five technology industry deals of Q2 2020 tracked by GlobalData were:

1) Uniti Wireless’ $364.98m acquisition of OptiComm

2) The $60m venture financing of Canva by Blackbird Ventures, Bond Capital Management, Felicis Ventures, General Catalyst Partners and Sequoia China Fund

3) IRESS’s $50.9m acquisition of OneVue Holdings

4) The $40m venture financing of Go1 by Madrona Venture Group, M12, Our Innovation Fund, Salesforce Ventures and SEEK

5) Global Growth Capital Advisors’ venture financing of Openpay for $30.86m.

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.

 

Visit our ‘Technology Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the technology industry.