1. Deals Analysis
May 11, 2021

Europe’s technology industry saw a drop of 3.65% in future of work deal activity in Q1 2021

By Carmen

Led by $1bn acquisition of Adjust, Europe’s technology industry saw a drop of 3.65% in future of work deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 66 future of work deals worth $2.01bn were announced for the region during Q1 2021, against the last four-quarter average of 68.50 deals.

Of all the deal types, venture financing saw most activity in Q1 2021 with 32 deals, representing a 48.5% share for the region.

In second place was M&A with 28 deals, followed by private equity deals with six transactions, respectively capturing a 42.4% and 9.1% share of the overall future of work deal activity for the quarter.

In terms of value of future of work deals, M&A was the leading category in Europe’s technology industry with $1000m, while venture financing and private equity deals totalled $825.64m and $188.92m, respectively.

Europe technology industry future of work deals in Q1 2021: Top deals

The top five technology future of work deals accounted for an 82.9% share of the overall value during Q1 2021.

The combined value of the top five future of work deals stood at $1.67bn, against the overall value of $2.01bn recorded for the quarter.

The top five technology industry future of work deals of Q1 2021 tracked by GlobalData were:

1) AppLovin’s $1bn acquisition of Adjust

2) The $184.86m private equity deal with ICT Group by NPM Capital, NPM Investments XI and Teslin Ipanema Acquisition

3) Highland Europe Fund, Index Ventures and Permira Growth Opportunities Fund’s $180m venture financing of Nexthink

4) The $160m venture financing deal with Sennder by Accel, Earlybird Venture Capital GmbHKG, HV Capital Adviser, Lakestar Capital, Next47, Perpetual Ventures, Project A Services GmbHKG and Scania Growth Capital

5) Capnamic Ventures Management, E.Ventures, General Atlantic, Insight Partners and KIZOO Technology Ventures’ venture financing with Staffbase for $145m.

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals 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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