China’s technology industry saw a rise of 7.1% in overall deal activity during June 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 182 deals worth $6.11bn were announced in June 2020, compared to the 12-month average of 170 deals.

Venture financing was the leading category in the month in terms of volume with 138 deals which accounted for 75.8% of all deals.

In second place was M&A with 41 deals, followed by private equity with three transactions, respectively accounting for 22.5% and 1.7% of overall deal activity in the country’s technology industry during the month.

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In terms of value of deals, M&A was the leading deal category in China’s technology industry with total deals worth $2.77bn, while private equity and venture financing deals totalled $2.68bn and $655m, respectively.

China technology industry deals in June 2020: Top deals

The top five technology industry deals accounted for 57.3% of the overall value during June 2020.

The combined value of the top five technology deals stood at $3.5bn, against the overall value of $6.11bn recorded for the month.

The top five technology industry deals of June 2020 tracked by GlobalData were:

1) TCL’s $1.56bn acquisition of Tianjin Zhonghuan Electronics and Information (Group)

2) The $750m venture financing of Zuoyebang by FountainVest Partners, Qatar Investment Authority, Sequoia Capital China, SoftBank Vision Fund, Tiantu Capital, Tiger Global Management and Xiang He Capital

3) Hillhouse Capital Group and ST Telemedia Global Data Centres’ $505m private equity deal with GDS Holdings

4) The $405.16m acquisition of Perfect World by Beijing Dongfu Ruijin Investment Management Center

5) Beijing Junlian Capital Management, Haining City Industrial Assets, Haining Juanhu Science and Technology City Development Investment, IDG Capital, Light Source Capital, Riverhead Capital Investment Management, Sunshine Fusion and Lighthouse Capital’s venture financing of Beijing ESWIN Technology Group for $282.36m.

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.