1. Deals Analysis
June 23, 2021

Canada’s technology industry sees a rise of 26.09% in cross border deal activity in May 2021

By Carmen

Canada’s technology industry saw a rise of 26.09% in overall cross border 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 29 cross border deals worth $933.3m were announced in May 2021, compared with the 12-month average of 23 deals.

venture financing was the leading category in the month in terms of volume with 15 deals, which accounted for 51.7% of all cross border deals.

In second place was M&A with seven cross border deals, followed by private equity with seven transactions, respectively accounting for 24.1% and 24.1% 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 $493.9m, while venture financing and private equity deals totalled $389.39m and $50m, respectively.

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

The top five technology industry cross border deals accounted for 82.8% of the overall value during May 2021.

The combined value of the top five technology cross border deals stood at $772.74m, against the overall value of $933.3m recorded for the month.

The top five technology industry cross border 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) 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’s $100m venture financing of Xanadu Quantum Technologies

4) The $98.85m venture financing deal with VendAsta Technologies by Lugard Road Capital and Nicola Wealth Management

5) Boldstart Ventures, BoxGroup, GreenSpring Ventures, Lachy Groom, Spark Capital and Tiger Global Management’s venture financing with Dooly.ai for $80m.

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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