Australia’s technology industry saw a rise of 30% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 91 deals worth $1.15bn were announced in Q3 2019, compared to the last four-quarter average of 70 deals.
Venture financing was the leading category in the quarter with 48 deals which accounted for 52.7% of all deals.
In second place was M&A with 39 deals, followed by private equity with four transactions, respectively accounting for 42.9% and 4.4% 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 $860.69m, while venture financing and private equity deals totalled $259.66m and $34.35m, respectively.
Australia technology industry deals in Q3 2019: Top deals
The top five technology deals accounted for 76% of the overall value during Q3 2019.
The combined value of the top five technology deals stood at $874m, against the overall value of $1.15bn recorded for the month.
The top five technology industry deals of Q3 2019 tracked by GlobalData were:
1) Charter Hall Group’s $474.29m asset transaction with Telstra
2) The $172.12m acquisition of GBST by SS&C Technologies Holdings
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3) Blackbird Ventures, Felicis Ventures, Global Founders Capital, Grok Ventures, HostPlus, Index Ventures (US), Sapphire Ventures, Sequoia Capital China, Skip Capital and TDM Growth Partners’ $82m venture financing of Culture Amp
4) The $77.85m acquisition of Dreamscape Networks by Web.com Group
5) Uniti Wireless’ acquisition of LBN Co for $67.75m.
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.