1. Deals Analysis
March 30, 2021

Canada’s technology industry sees a rise of 18.18% in cross border deal activity in February 2021

By Carmen

Canada’s technology industry saw a rise of 18.18% in overall cross border deal activity during February 2021, when compared with the last 12-month average, led by Coatue Management’s $250m venture financing of Dapper Labs, according to GlobalData’s deals database.

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A total of 26 cross border deals worth $391.53m were announced in February 2021, compared with the 12-month average of 22 deals.

M&A was the leading category in the month in terms of volume with 13 deals, which accounted for 50% of all cross border deals.

In second place was venture financing with 11 cross border deals, followed by private equity with two transactions, respectively accounting for 42.3% and 7.7% of overall deal activity in the Canada’s technology industry during the month.

In terms of value of cross border deals, venture financing was the leading deal category in Canada’s technology industry with total deals worth $338.03m, followed by private equity deals totalled $53.5m.

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

The top five technology industry cross border deals accounted for 94.05% of the overall value during February 2021.

The combined value of the top five technology cross border deals stood at $368.23m, against the overall value of $391.53m recorded for the month.

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

1) Coatue Management’s $250m venture financing of Dapper Labs

2) The $53.5m private equity deal with Purpose Financial by Allianz X

3) iNovia Capital’s $43m venture financing of Symend

4) The $13.83m venture financing deal with SPARK Microsystems International by Cycle Capital Management, Export Development Canada, NanoDimension Capital, Paul Jacobs, Real Ventures and Sanjay K. Jha

5) BrandProject, H Venture Management, Mantella Venture Partners and Whitecap Venture Partners’ venture financing with Felix Health for $7.9m.

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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