Canada’s technology industry saw a drop of 25.5% in overall deal activity during December 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 $1.1bn were announced in December 2019, compared to the 12-month average of 51 deals.
M&A was the leading category in the month in terms of volume with 22 deals which accounted for 57.9% of all deals.
In second place was venture financing with ten deals, followed by private equity with six transactions, respectively accounting for 26.3% and 15.8% 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 $1.04bn, while private equity and venture financing deals totalled $45.98m and $21.12m, respectively.
Canada technology industry deals in December 2019: Top deals
The top five technology industry deals accounted for 98.8% of the overall value during December 2019.
The combined value of the top five technology deals stood at $1.09bn, against the overall value of $1.1bn recorded for the month.
The top five technology industry deals of December 2019 tracked by GlobalData were:
1) Northern Private Capital’s $764.16m private equity deal with Macdonald, Dettwiler And Associates
2) The $270m private equity deal with Nuvei Technologies by Caisse de depot et placement du Quebec and Novacap Investments
3) Akerna’s $45m acquisition of Ample Organics
4) The $6m venture financing of Flexpay by Anges Quebec, BMO Capital Partners and Impression Ventures
5) ASU ScaleU, Atrium Capital, EduLab Capital Partners, Entangled Group, Reach Capital, SEI Ventures and Strada Education Network’s venture financing of Riipen for $3.5m.
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.