1. Deals Analysis
February 24, 2021

Canada’s technology industry sees a drop of 1.72% in deal activity in January 2021

By Carmen

Canada’s technology industry saw a drop of 1.72% in overall deal activity during January 2021, when compared with the last 12-month average, led by Naver’s $600m acquisition of WP Technology, according to GlobalData’s deals database.

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A total of 57 deals worth $1.01bn were announced in January 2021, compared with the 12-month average of 58 deals.

M&A was the leading category in the month in terms of volume with 34 deals, which accounted for 59.7% of all deals.

In second place was venture financing with 15 deals, followed by private equity with eight transactions, respectively accounting for 26.3% and 14.04% of overall deal activity in the Canada’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 $639.21m, while private equity and venture financing deals totalled $215.82m and $158.2m respectively.

Canada technology industry deals in January 2021: Top deals

The top five technology industry deals accounted for 94.7% of the overall value during January 2021.

The combined value of the top five technology deals stood at $959.66m, against the overall value of $1.01bn recorded for the month.

The top five technology industry deals of January 2021 tracked by GlobalData were:

1) Naver’s $600m acquisition of WP Technology

2) The $202.88m private equity deal with SMTC by H.I.G. Capital

3) Canadian Business Growth Fund and TPG Growth’s $124.51m venture financing of Prodigy Education

4) The $17.27m acquisition deal with INTERTRONIC SOLUTIONS by Calian Group

5) Bessemer Venture Partners, FundFire, iNovia Capital, Mistral Venture Partners, Ridge Ventures and ScaleUP Ventures’ venture financing with Third Blink Software for $15m.

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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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