Total technology industry M&A deals worth $8.97bn were announced in Asia-Pacific in March 2021, led by Beijing ByteDance Technology’s $4bn acquisition of Shanghai Mutong Technology, according to GlobalData’s deals database.

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The value marked an increase of 31.5% over the previous month of $6.82bn and a drop of 11.8% when compared with the last 12-month average of $10.17bn.

Asia-Pacific held a 9.69% share of the global technology industry M&A deal value that totalled $92.57bn in March 2021. With a 5.13% share and deals worth $4.75bn, China was the top country in Asia-Pacific’s M&A deal value across technology industry.

In terms of M&A deal activity, Asia-Pacific recorded 163 deals during March 2021, marking an increase of 5.84% over the previous month and a rise of 18.98% over the 12-month average. Japan recorded 43 deals during the month.

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Asia-Pacific technology industry M&A deals in March 2021: Top deals

The top five technology industry M&A deals accounted for 83.3% of the overall value during March 2021.

The combined value of the top five technology deals stood at $7.48bn, against the overall value of $8.97bn recorded for the month.

The top five technology industry M&A deals of March 2021 tracked by GlobalData were:

1) Beijing ByteDance Technology’s $4bn acquisition of Shanghai Mutong Technology

2) The $1.4bn acquisition of Magnachip Semiconductor by Michigan Merger Sub and South Dearborn

3) Bentley Systems’ $1.05bn acquisition of Seequent

4) The $750m asset transaction with Indosat Ooredoo by PT EPID Menara AssetCo

5) Lightspeed POS’s acquisition of Vend for $276.71m.