Canada’s technology industry saw a rise of 3.9% in overall deal activity during September 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 53 deals worth $1.07bn were announced in September 2019, compared to the 12-month average of 51 deals.

Venture financing was the leading category in the month in terms of volume with 26 deals which accounted for 49% of all deals.

In second place was M&A with 24 deals, followed by private equity with three transactions, respectively accounting for 45.3% and 5.7% of overall deal activity in the country’s technology industry during the month.

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By GlobalData

In terms of value of deals, venture financing was the leading deal category in Canada’s technology industry with total deals worth $656.16m, while M&A and private equity deals totalled $388.57m and $20.68m, respectively.

Canada technology industry deals in September 2019: Top deals

The top five technology industry deals accounted for 90.3% of the overall value during September 2019.

The combined value of the top five technology deals stood at $962.04m, against the overall value of $1.07bn recorded for the month.

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

1) BDC Capital, Information Venture Partners., Northleaf Capital Partners, Spectrum Equity Management and Teralys Capital’s $388.57m private equity deal with Verafin

2) The $250m venture financing of Themis Solutions, Inc. (also knownClio) by JMI Equity Fund and TCMI

3) BDC Capital, Caisse de depot et placement du Quebec, Data Collective Venture Capital, Government of Quebec, Hanwha Asset Management, McKinsey &- Canada, QuantumBlack Visual Analytics and Real Ventures’ $151.4m venture financing of Element AI

4) The $119.22m venture financing of TouchBistro by Barclays Bank (Suisse), BDC IT Venture Fund, BMO Capital Partners, JPMorgan Chase &, Kensington Capital Partners, Napier Park Financial Partners, OMERS Ventures, RBC Ventures and Recruit Holdings

5) American Express Ventures, BDC Capital, Blumberg Capital, Citi Ventures, Goldman Sachs & Co and Santander Fintech’s venture financing of Trulioo Information Services for $52.85m.

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.