Europe’s technology industry saw a drop of 18.96% in deal activity during January 2021, when compared with the last 12-month average, led by Arab Investment Bank S.A.L.’s $11.21bn acquisition of Temenos, according to GlobalData’s deals database.

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A total of 359 technology industry deals worth $28.56bn were announced for the region in January 2021, against the 12-month average of 443 deals.

Of all the deal types, M&A saw most activity in January 2021 with 166 transactions, representing a 46.2% share for the region.

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In second place was venture financing with 159 deals, followed by private equity deals with 34 transactions, respectively capturing a 44.3% and 9.5% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in Europe’s technology industry with $26.13bn, while venture financing and private equity deals totalled $2.33bn and $96.13m, respectively.

Europe technology industry deals in January 2021: Top deals

The top five technology deals accounted for 84.5% of the overall value during January 2021.

The combined value of the top five technology deals stood at $24.12bn, against the overall value of $28.56bn recorded for the month.

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

1) Arab Investment Bank S.A.L.’s $11.21bn acquisition of Temenos

2) The $9.37bn asset transaction deal with Telxius Telecom SAU by American Tower

3) CNP Assurances, EDF Invest and La Banque des Territoires’ $1.63bn acquisition of Orange Concessions

4) The $1.22bn acquisition of Signavio by SAP

5) Workday’s acquisition of Peakon for $700m.