1. Deals Analysis
December 23, 2021

Canada’s technology industry sees a drop of 17.14% in cross border deal activity in November 2021

By Carmen

Canada’s technology industry saw a drop of 17.14% in overall cross border deal activity during November 2021, when compared with the last 12-month average, led by Generac Holdings’ $770m acquisition of Ecobee, according to GlobalData’s deals database.

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A total of 29 cross border deals worth $1.1bn were announced in November 2021, compared with the 12-month average of 35 deals.

M&A was the leading category in the month in terms of volume with 14 deals, which accounted for 48.3% of all cross border deals.

In second place was venture financing with 12 cross border deals, followed by private equity with three transactions, respectively accounting for 41.4% and 10.3% of overall deal activity in the Canada’s technology industry during the month.

In terms of value of cross border deals, M&A was the leading deal category in Canada’s technology industry with total deals worth $770m, while private equity and venture financing deals totalled $240m and $90.8m respectively.

Canada technology industry cross border deals in November 2021: Top deals

The top five technology industry cross border deals accounted for 97.4% of the overall value during November 2021.

The combined value of the top five technology cross border deals stood at $1.07bn, against the overall value of $1.1bn recorded for the month.

The top five technology industry cross border deals of November 2021 tracked by GlobalData were:

1) Generac Holdings $770m acquisition deal with Ecobee

2) The $240m private equity of Fullscript by HGGC and Snapdragon Capital Partners

3) Cota Capital Management,Impression Ventures,Luge Capital,Plug and Play Tech Center and Sorenson Capital Partners $30m venture financing deal with owl.co Labs

4) The $18m venture financing of Spare Labs by iNovia Capital,Japan Airlines Innovation Fund,Kensington Capital Partners,Link VC,Nicola Wealth Management,Ramen Ventures,Ridge Ventures and Translink Capital

5) Cathie Wood,NLabs,PIER 88 Investment Partners,Primera Capital and TTB Partners $14.3m venture financing deal with Mimik Technology

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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