1. Deals Analysis
June 30, 2021

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

By Carmen

Canada’s technology industry saw a drop of 1.72% in overall deal activity during May 2021, when compared with the last 12-month average, led by MKS Instruments’ $318.9m acquisition of Photon Control, according to GlobalData’s deals database.

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A total of 57 deals worth $1.2bn were announced in May 2021, compared with the 12-month average of 58 deals.

venture financing was the leading category in the month in terms of volume with 26 deals, which accounted for 45.6% of all deals.

In second place was M&A with 23 deals, followed by private equity with eight transactions, respectively accounting for 40.4% and 14.04% of overall deal activity in the Canada’s technology industry during the month.

In terms of value of deals, venture financing was the leading deal category in Canada’s technology industry with total deals worth $616.79m, while M&A and private equity deals totalled $529.9m and $50m, respectively.

Canada technology industry deals in May 2021: Top deals

The top five technology industry deals accounted for 68.8% of the overall value during May 2021.

The combined value of the top five technology deals stood at $822.74m, against the overall value of $1.2bn recorded for the month.

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

1) MKS Instruments’ $318.9m acquisition of Photon Control

2) The $175m acquisition of Ludia by Jam City

3) Accel, Bessemer Venture Partners, Burst Capital, FirstMark Capital, Spark Capital, Tiger Global Management and Version One Ventures’ $130m venture financing of Ada Support

4) The $100m venture financing deal with Xanadu Quantum Technologies by BDC Capital, Bessemer Venture Partners, Capricorn Venture Partners, Georgian Partners Growth, In-Q-Tel, Ontario Municipal Employees Retirement System, Tiger Global Management and Tim Draper

5) Lugard Road Capital and Nicola Wealth Management’s venture financing with VendAsta Technologies for $98.85m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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