Canada’s technology industry saw a drop of 21.2% in overall deal activity during April 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 41 deals worth $110.92m were announced in April 2020, compared to the 12-month average of 52 deals.

Venture financing was the leading category in the month in terms of volume with 25 deals which accounted for 61% of all deals.

In second place was M&A with 12 deals, followed by private equity with four transactions, respectively accounting for 29.3% and 9.8% of overall deal activity in the country’s technology industry during the month.

In terms of value of deals, private equity was the leading deal category in Canada’s technology industry with total deals worth $101.85m, while M&A and venture financing deals totalled $4.95m and $4.12m, respectively.

Canada technology industry deals in April 2020: Top deals

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

The combined value of the top five technology deals stood at $81.05m, against the overall value of $110.92m recorded for the month.

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

1) Blumberg Capital, Claridge, Fonds de solidarite des travailleurs du Quebec, Harmony Partners, iNovia Capital and Lerer Hippeau Ventures’ $50m venture financing of WorkJam

2) The $8.54m venture financing of BrainBox AI by DESJARDINS CAPITAL and Esplanade Ventures

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3) Silicon Valley Bank’s $8.52m venture financing of Form Athletica

4) The $7.5m venture financing of Ayogo Health by 7wire Ventures, Baxter International, Excel Venture Management, MedTeq and Merck Global Health Innovation Fund

5) Radical Ventures’ venture financing of PocketHealth for $6.5m.

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.