Canada’s technology industry saw a flat growth in overall deal activity during March 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 45 deals worth $178.08m were announced in March 2019, compared to the 12-month average of 45 deals.
M&A was the leading category in the month in terms of volume with 28 deals which accounted for 62.2% of all deals.
In second place was venture financing with 14 deals, followed by private equity with three transactions, respectively accounting for 31.1% and 6.7% 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 $67.44m, while private equity and venture financing deals totalled $58.04m and $52.6m, respectively.
Canada technology industry deals in March 2019: Top deals
The top five technology industry deals accounted for 76.2% of the overall value during March 2019.
The combined value of the top five technology industry deals stood at $135.67m, against the overall value of $178.08m recorded for the month. The top announced Canada technology industry deal tracked by GlobalData in March 2019 was Edison Partners, Georgian Partners and Warburg Pincus’ $47m private equity deal with eSentire.
In second place was the $42.07m acquisition of Espial Group by Enghouse Systems and in third place was 500 Startups Canada, BDC Capital, GGV Capital, Kansas City Power & Light, Next47, Real Ventures, SOSVentures and True Ventures’ $23.6m venture financing of Avidbots.
The $16m acquisition of HashChain Technology by Digihost International and Kevin Weiss’ venture financing of DigitalEd for $7m held fourth and fifth positions, respectively.
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.
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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.