Canada’s technology industry saw a drop of 11.5% in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 46 deals worth $140.32m were announced in February 2020, compared to the 12-month average of 52 deals.

M&A was the leading category in the month in terms of volume with 28 deals which accounted for 60.9% of all deals.

In second place was venture financing with 15 deals, followed by private equity with three transactions, respectively accounting for 32.6% and 6.5% 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 $117.7m, followed by private equity deals totalled $22.61m.

Canada technology industry deals in February 2020: Top deals

The top five technology industry deals accounted for 76.1% of the overall value during February 2020.

The combined value of the top five technology deals stood at $106.72m, against the overall value of $140.32m recorded for the month.

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

1) Emergence Capital Partners, Georgian Partners, iNovia Capital, Leaders Fund and Union Square Ventures’ $54.3m venture financing of Tophatmonocle

2) The $22m venture financing of BenchSci Analytics by F-Prime, Golden Venture Partners, Gradient Ventures, iNovia Capital, Northleaf Capital Partners and Real Ventures

3) Cottonwood Venture Partners and Mercury Fund’s $15m venture financing of Ambyint

4) The $9.02m acquisition of GameCubed by QuickCool

5) Clio’s venture financing of TimeSaved for $6.4m.

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.