1. Deals Analysis
March 10, 2021

Europe’s technology industry saw a drop of 51.69% in future of work deal activity in Q4 2020

By Carmen

Led by Cisco Systems Holdings UK $729.23m acquisition of IMImobile, Europe’s technology industry saw a drop of 51.69% in future of work deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 43 future of work deals worth $1.32bn were announced for the region during Q4 2020, against the last four-quarter average of 89 deals.

Of all the deal types, Venture financing deals saw most activity in Q4 2020 with 19, representing a 44.1% share for the region.

In second place was M&A with 18, followed by private equity deals with six transactions, respectively capturing a 41.9% and 14% 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 the UK technology industry with $893.87m, while venture financing and private equity deals totalled $410.31m and $19.88m, respectively.

Europe technology industry future of work deals in Q4 2020: Top deals

The top five technology future of work deals accounted for an 84.6% share of the overall value during Q4 2020.

The combined value of the top five future of work deals stood at $1.12bn, against the overall value of $1.32bn recorded for the quarter.

The top five technology industry future of work deals of Q4 2020 tracked by GlobalData were:

1) Cisco Systems Holdings UK $729.23m acquisition of IMImobile

2) The $222m venture financing of Graphcore by Baillie Gifford, Draper Esprit, Fidelity International, Ontario Teachers’ Pension Plan and Schroder British Opportunities Trust

3) Global Graphics’ $96.9m acquisition of Hybrid Software

4) The $38.5m venture financing deal with Harbr Group by Backed, Boldstart Ventures, Brandon Deer, Crane Venture Partners, Daniel Dines, Dawn Capital, Mike Chalfen, Seedcamp and Tiger Global Management

5) Karnov Group Holding’s acquisition of DIBkunnskap for $33.99m.

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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