1. Deals Analysis
August 6, 2021

Europe’s technology industry saw a drop of 3.25% in artificial intelligence deal activity in Q2 2021

By Carmen

Led by $500m acquisition of WaveOptics, Europe’s technology industry saw a drop of 3.25% in artificial intelligence deal activity during Q2 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 171 artificial intelligence deals worth $2.1bn were announced for the region during Q2 2021, against the last four-quarter average of 176.75 deals.

Of all the deal types, venture financing saw most activity in Q2 2021 with 131 deals, representing a 76.6% share for the region.

In second place was M&A with 30 deals, followed by private equity deals with ten transactions, respectively capturing a 17.5% and 5.9% share of the overall artificial intelligence deal activity for the quarter.

In terms of value of artificial intelligence deals, venture financing was the leading category in Europe’s technology industry with $1.48bn, while M&A and private equity deals totalled $520.8m and $78.17m, respectively.

Europe technology industry artificial intelligence deals in Q2 2021: Top deals

The top five technology artificial intelligence deals accounted for a 50.6% share of the overall value during Q2 2021.

The combined value of the top five artificial intelligence deals stood at $1.05bn, against the overall value of $2.1bn recorded for the quarter.

The top five technology industry artificial intelligence deals of Q2 2021 tracked by GlobalData were:

1) Snap’s $500m acquisition of WaveOptics

2) The $220m venture financing of Shift Technology by Accel, Advent International, Avenir Entreprises Gestion, Bessemer Venture Partners, General Catalyst Partners and Iris Capital

3) TCV’s $150m venture financing of Cognite

4) The $112.75m venture financing deal with parcelLab by Capnamic Ventures Management, coparionKG, Endeit Capital and Insight Partners

5) Accel, Amit Agarwal, Cavalry Ventures Management, Dawn Capital, James Fitzgerald, Lars Bjork, Notion Capital, Tiger Global Management and Ulf Zetterberg’s venture financing with BRYTER for $66m.

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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.

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