Canada’s technology industry saw a drop of 24% in overall deal activity during August 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 38 deals worth $64.11m were announced in August 2019, compared to the 12-month average of 50 deals.
M&A was the leading category in the month in terms of volume with 23 deals which accounted for 60.5% of all deals.
In second place was venture financing with 13 deals, followed by private equity with two transactions, respectively accounting for 34.2% and 5.3% of overall deal activity in the country’s technology industry during the month.
In terms of value of deals, M&A was the leading deal category in Canada’s technology industry with total deals worth $36.16m, followed by venture financing deals worth $27.96m.
Canada technology industry deals in August 2019: Top deals
The top five technology industry deals accounted for 79.9% of the overall value during August 2019.
The combined value of the top five technology deals stood at $51.21m, against the overall value of $64.11m recorded for the month.
The top five technology industry deals of August 2019 tracked by GlobalData were:
1) Upland Software’s $25.7m acquisition of CIMPL
2) The $9.3m venture financing of Nudge Rewards by BDC Capital, Brightspark Ventures, Generation Ventures, Jump Capital and Stand Up Ventures
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3) BDC Capital Women in Technology (WIT) Fund, Horizons Ventures and The Co-Operators Group’s $7m venture financing of BlueDot (formerly BioDiaspora)
4) The $4.71m venture financing of Worximity Technology by Fonds de solidarite FTQ, Marel hf and W Investments
5) Disruption Ventures and Yaletown Partners’ venture financing of ePACT Network for $4.5m.
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.