China’s technology industry saw a rise of 21.1% in overall deal activity during September 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 172 deals worth $3.18bn were announced in September 2019, compared to the 12-month average of 142 deals.

Venture financing was the leading category in the month in terms of volume with 151 deals which accounted for 87.8% of all deals.

In second place was M&A with 15 deals, followed by private equity with six transactions, respectively accounting for 8.7% and 3.5% of overall deal activity in the country’s technology industry during the month.

In terms of value of deals, venture financing was the leading deal category in China’s technology industry with total deals worth $2.61bn, while M&A and private equity deals totalled $415.55m and $155.81m, respectively.

China technology industry deals in September 2019: Top deals

The top five technology industry deals accounted for 49.2% of the overall value during September 2019.

The combined value of the top five technology deals stood at $1.57bn, against the overall value of $3.18bn recorded for the month.

The top five technology industry deals of September 2019 tracked by GlobalData were:

1) Alibaba Group Holding and Yunfeng Capital’s $700m venture financing of NetEase Cloud Music

2) The $296.4m private equity deal with LexinFintech Holdings by PAG (formerly Pacific Alliance Group)

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3) Dachen Venture Capital, Fosun Group and Huaxing Capital’s $224.83m venture financing of Zhongshang Huimin (Beijing) E-commerce

4) The $210.5m venture financing of Qi An Xin Technology Group by 10 Fund, Beijing Jinrui Tongda Technology, IDG Capital, Oriza Holdings, Red Star Macalline Group and Zhang Jinglai

5) Gree Electric Appliancesof Zhuhai, Xiangcai Securities and Xinhu Zhongbao’s venture financing of Beijing Wanlihong Technology for $133.97m.

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.