Canada’s technology industry saw a drop of 2% in overall deal activity during June 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 50 deals worth $1.13bn were announced in June 2020, compared to the 12-month average of 51 deals.
Venture financing was the leading category in the month in terms of volume with 25 deals which accounted for 50% of all deals.
In second place was M&A with 20 deals, followed by private equity with five transactions, respectively accounting for 40% and 10% 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 $882.11m, while private equity and venture financing deals totalled $204.32m and $39.47m, respectively.
Canada technology industry deals in June 2020: Top deals
The top five technology industry deals accounted for 80.5% of the overall value during June 2020.
The combined value of the top five technology deals stood at $906.06m, against the overall value of $1.13bn recorded for the month.
The top five technology industry deals of June 2020 tracked by GlobalData were:
1) Equinix’s $750m asset transaction with BCE
2) The $60m acquisition of Rubikloud Technologies by Kinaxis
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3) Crest Rock Partners’ $38.37m private equity deal with Unbounce Marketing Solutions
4) The $29m venture financing of Clearpath Robotics by BMO Capital Partners, Export Development Canada, iNovia Capital, Kensington Private Equity Fund and RRE Ventures
5) Planet DDS’s acquisition of Apteryx Imaging for $28.69m.
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.