Canada’s technology industry saw a drop of 2% in overall deal activity during November 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 50 deals worth $577.59m were announced in November 2019, compared to the 12-month average of 51 deals.

M&A 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 venture financing with 22 deals, followed by private equity with three transactions, respectively accounting for 44% and 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 $498.44m, while venture financing and private equity deals totalled $78.2m and $0.95m, respectively.

Canada technology industry deals in November 2019: Top deals

The top five technology industry deals accounted for 82.9% of the overall value during November 2019.

The combined value of the top five technology deals stood at $478.64m, against the overall value of $577.59m recorded for the month.

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

1) Accel and Slack Fund’s $200m venture financing of AgileBits

2) The $172.64m venture financing of Coveo Solutions by Elliott Management, Evergreen Coast Capital, Fonds de solidarite FTQ, IQ Venture Partners and OMERS Growth Equity

3) William Adams’ $53m venture financing of Stradigi AI

4) The $40m acquisition of UHP Networks by Comtech Telecommunications

5) Brightspark Ventures, CapHorn Invest, Desjardins Capital Markets, Ecofuel Fund and Investissement Quebec’s venture financing of POTLOC for $13m.

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.