China’s technology industry saw a drop of 13.1% in overall deal activity during May 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 146 deals worth $6.28bn were announced in May 2020, compared to the 12-month average of 168 deals.

Venture financing was the leading category in the month in terms of volume with 116 deals which accounted for 79.5% of all deals.

In second place was M&A with 21 deals, followed by private equity with nine transactions, respectively accounting for 14.4% and 6.2% of overall deal activity in the country’s technology industry during the month.

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By GlobalData

In terms of value of deals, M&A was the leading deal category in China’s technology industry with total deals worth $3.11bn, while private equity and venture financing deals totalled $2.67bn and $495.17m, respectively.

China technology industry deals in May 2020: Top deals

The top five technology industry deals accounted for 59.05% of the overall value during May 2020.

The combined value of the top five technology deals stood at $3.71bn, against the overall value of $6.28bn recorded for the month.

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

1) Big Fund’s $2.2bn private equity deal with Semiconductor Manufacturing International

2) The $589.75m venture financing of Shenzhen Huaxing Optoelectronics Technology by TCL Venture Capital

3) Gejin Sindh Industry Light Private Equity Fund, GF Sind Investment Management and Guangdong New Kinetic Energy Equity Investment Partnership’s $352.92m private equity deal with Shenghong Technology (Huizhou)

4) The $300m private equity deal with Dingdong Maicai by General Atlantic

5) CICC Capital ManagementLimited, SDIC Innovation Investment Management and Sequoia Capital China’s venture financing of BYD (Ningbo) Semiconductor for $266.17m.

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.