Canada’s technology industry saw a drop of 10.2% in overall deal activity during July 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 44 deals worth $1.27bn were announced in July 2019, compared to the 12-month average of 49 deals.

Venture financing was the leading category in the month in terms of volume with 20 deals which accounted for 45.5% of all deals.

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In second place was M&A with 19 deals, followed by private equity with five transactions, respectively accounting for 43.2% and 11.4% 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 $136.84m and $84.63m, respectively.

Canada technology industry deals in July 2019: Top deals

The top five technology industry deals accounted for 94.2% of the overall value during July 2019.

The combined value of the top five technology deals stood at $1.19bn, against the overall value of $1.27bn recorded for the month.

The top five technology industry deals of July 2019 tracked by GlobalData were:

1) KKR Americas XII Fund’s $1bn private equity deal with Corel

2) The $78.08m acquisition of Mnubo by Aspen Technology

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3) BDC Capital IT Venture Fund, Canadian Business Growth Fund, Comporium, SaskWorks Venture Fund and Vanedge Capital’s $40m private equity deal with VendAsta Technologies

4) The $38.89m venture financing of AlayaCare by Caisse de depot et placement du Quebec, iNovia Capital and Investissement Quebec

5) Citi Ventures, Information Venture Partners., MasterCard, Point72 Ventures, Portag3 Ventures, Reinventure Group and The Toronto-Dominion Bank’s venture financing of Flybits for $34.52m.

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.