1. Deals Analysis
February 17, 2022updated 23 Feb 2022 12:34pm

Canada’s technology industry sees a drop of 21.13% in deal activity in January 2022

By Carmen

Canada’s technology industry saw a drop of 21.13% in overall deal activity during January 2022, when compared with the last 12-month average, led by Accel, Backbone Angels, ICONIQ Growth, Lightspeed Management Company, Robert Downey Jr., Ryan Reynolds , Scarlett Johansson and Tiger Global Management’s $620m venture financing of AgileBits, according to GlobalData’s deals database.

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A total of 56 deals worth $1.3bn were announced in January 2022, compared with the 12-month average of 71 deals.

venture financing was the leading category in the month in terms of volume with 30 deals, which accounted for 53.6% of all deals.

In second place was M&A with 24 deals, followed by private equity with two transactions, respectively accounting for 42.9% and 3.6% 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 $921.53m, while private equity and M&A deals totalled $350m and $19.99m respectively.

Canada technology industry deals in January 2022: Top deals

The top five technology industry deals accounted for 85.3% of the overall value during January 2022.

The combined value of the top five technology deals stood at $1.1bn, against the overall value of $1.3bn recorded for the month.

The top five technology industry deals of January 2022 tracked by GlobalData were:

1) Accel,Backbone Angels,ICONIQ Growth,Lightspeed Management Company,Robert Downey Jr.,Ryan Reynolds ,Scarlett Johansson and Tiger Global Management $620m venture financing deal with AgileBits

2) The $350m private equity of Assent ComplianceCanada by Vista Equity Partners

3) F-Prime,iNovia Capital and TCV VII $50.05m venture financing deal with BenchSci Analytics

4) The $46.95m venture financing of Vosker by Stephan Cretier

5) Boost VC,BoxOne Ventures,Broadhaven Capital Partners,Dan Debow,Farhan Thawar,Golden Venture Partners,Henri Machalani,Jevon MacDonald,Mark Macleod and Mike Murchison $35.2m venture financing deal with Shakepay

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals 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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