1. Deals Analysis
March 17, 2021

Europe’s technology industry saw a rise of 1.20% in cloud deal activity during February 2021

By Carmen

Europe’s technology industry saw a rise of 1.20% in cloud deal activity during February 2021, when compared with the last 12-month average, led by Tenable’s $98m acquisition of Alsid, according to GlobalData’s deals database.

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A total of 84 technology industry cloud deals worth $573.97m were announced for the region in February 2021, against the 12-month average of 83 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 50 transactions, representing a 59.5% share for the region.

In second place was M&A with 29 deals, followed by private equity deals with five transactions, respectively capturing a 34.5% and 6% share of the overall cloud deal activity for the month.

In terms of value of cloud deals, venture financing was the leading category in Europe’s technology industry with $395.04m, followed by M&A deals totalled $178.93m.

Europe technology industry cloud deals in February 2021: Top deals

The top five technology cloud deals accounted for 61.5% of the overall value during February 2021.

The combined value of the top five technology cloud deals stood at $353.25m, against the overall value of $573.97m recorded for the month.

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

1) Tenable’s $98m acquisition of Alsid

2) The $96m venture financing deal with Copado Solutions by Insight Partners, ISAI Cap Venture, Lead Edge Capital Management, Perpetual Investors and Salesforce Ventures

3) Bregal Milestone, Draper Esprit VCT, Partech Ventures and TESI’s $80m venture financing of M-Files

4) The $55m acquisition of SignRequest by Box

5) Breega Capital, DST Global, LocalGlobe and Serena Capital’s venture financing of Libeo for $24.25m.

Verdict deals analysis methodology

This analysis considers only announced and completed 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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