1. Deals Analysis
March 22, 2021

Canada’s technology industry sees a rise of 5.17% in deal activity in February 2021

By Carmen

Canada’s technology industry saw a rise of 5.17% in overall 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 61 deals worth $694.78m were announced in February 2021, compared with the 12-month average of 58 deals.

M&A was the leading category in the month in terms of volume with 30 deals, which accounted for 49.2% of all deals.

In second place was venture financing with 27 deals, followed by private equity with four transactions, respectively accounting for 44.3% and 6.6% 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 $534.86m, while M&A and private equity deals totalled $94.42m and $65.5m respectively.

Canada technology industry deals in February 2021: Top deals

The top five technology industry deals accounted for 78.05% of the overall value during February 2021.

The combined value of the top five technology deals stood at $542.26m, against the overall value of $694.78m recorded for the month.

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

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

2) The $130m venture financing of Tophatmonocle by Georgian Partners

3) Calian Group’s $65.76m acquisition of Dapasoft

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

5) iNovia Capital’s venture financing with Symend for $43m.

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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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