1. Deals Analysis
August 4, 2021updated 06 Aug 2021 3:07pm

Canada’s technology sees a rise of 17.68% in deal activity in Q2 2021

By Carmen

Led by $487.97m venture financing of eStruxture Data Centers, Canada’s technology industry saw a rise of 17.68% in overall deal activity during Q2 2021, when compared with the last four-quarter average, according to GlobalData’s deals database.

  • Embed this chart

    Embed this chart into your website

    Copy and paste the image source into your website to display the chart.

A total of 198 deals worth $5bn were announced in Q2 2021, compared with the last four-quarter average of 168.25 deals.

venture financing was the leading category in the quarter with 95 deals which accounted for 48% of all deals.

In second place was M&A with 80 deals, followed by private equity with 23 transactions, respectively accounting for 40.4% and 11.6% of overall deal activity in the Canada’s technology industry during the quarter.

In terms of value of deals, venture financing was the leading deal category in Canada’s technology industry with total deals worth $3.26bn, while M&A and private equity deals totalled $1.15bn and $533.9m respectively.

Canada technology industry deals in Q2 2021: Top deals

The top five technology industry deals accounted for 39.03% of the overall value during Q2 2021.

The combined value of the top five technology deals stood at $1.93bn, against the overall value of $5bn recorded for the quarter.

The top five technology industry deals of Q2 2021 tracked by GlobalData were:

1) Caisse de depot et placement du Quebec and Fengate Asset Management’s $487.97m venture financing of eStruxture Data Centers

2) The $430m acquisition of EXFO by Viavi Solutions

3) American Express Ventures, Blumberg Capital, Citi Ventures, Mouro Capital and TCV’s $394m venture financing of Trulioo

4) The $318.9m acquisition deal with Photon Control by MKS Instruments

5) BDC Capital, Blue Cloud Ventures, Fidelity Management & Research, Garage Capital, Harmonic Growth Partners, Index Ventures, Ontario Teachers Pension Plan Board and Teachers Innovation Platform’s venture financing with Easy Education for $300m.

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.