1. Deals Analysis
November 19, 2020

Canada’s technology industry sees a rise of 13.7% in deal activity in October 2020

By Carmen

Canada’s technology industry saw a rise of 13.7% in overall deal activity during October 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 58 deals worth $454.68m were announced in October 2020, compared to the 12-month average of 51 deals.

M&A was the leading category in the month in terms of volume with 35 deals which accounted for 60.3% of all deals.

In second place was venture financing with 22 deals, followed by private equity with one transactions, respectively accounting for 37.9% and 1.7% 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 $429.24m, while venture financing and private equity deals totalled $25.44m and $0m, respectively.

Canada technology industry deals in October 2020: Top deals

The top five technology industry deals accounted for 95.6% of the overall value during October 2020.

The combined value of the top five technology deals stood at $434.83m, against the overall value of $454.68m recorded for the month.

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

1) Cogeco Connexion’s $307.7m acquisition of DERYtelecom

2) The $113.01m acquisition of East Side Games by LEAF Mobile

3) Business Development Bank of Canada, Export Development Canada, Real Ventures, Viaduct Ventures and Yamaha Motor Ventures & Laboratory Silicon Valley’s $6.45m venture financing of Canvass Analytics

4) The $4.56m acquisition of Medical Confidence by CloudMD Software & Services

5) 1kx Capital, Alameda Research, AU21 Capital, Brilliance Ventures, CoinGecko, Mechanism Capital, TRGC Capital and Woodstock Fund’s venture financing of Covalent for $3.1m.

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.

 

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.

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