Canada’s technology industry saw a drop of 30.8% in overall deal activity during May 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 36 deals worth $188m were announced in May 2020, compared to the 12-month average of 52 deals.

M&A was the leading category in the month in terms of volume with 18 deals which accounted for 50% of all deals.

In second place was venture financing with 16 deals, followed by private equity with two transactions, respectively accounting for 44.4% and 5.6% 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 $136.01m, followed by private equity deals totalled $51.99m.

Canada technology industry deals in May 2020: Top deals

The top five technology industry deals accounted for 76.5% of the overall value during May 2020.

The combined value of the top five technology deals stood at $143.8m, against the overall value of $188m recorded for the month.

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

1) Anthos Capital, Artiman Ventures, Business Development Bank of Canada, Drive Capital, Fidelity Investments Canada, Garage Capital and Plug and Play Tech Center’s $70.94m venture financing of Easy Education

2) The $35.23m acquisition of VIZIYA by Prometheus Group

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3) Define Ventures, Threshold Ventures, Homebrew, John Doerr and Torch Capital’s $17.63m venture financing of Tia Health

4) The $10m venture financing of Tehama(Canada) by BDC Capital Industrial, Clean and Energy Technology Venture Fund and OMERS Ventures

5) Business Development Bank of Canada, Information Venture Partners., Manulife Investment Management, ScaleUP Ventures and Techstars Central’s venture financing of Cinchy for $10m.

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.