Led by Cisco Systems Holdings UK $729.23m acquisition of IMImobile, Europe’s technology industry saw a rise of 4.40% in cloud 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 261 cloud deals worth $4.2bn were announced for the region during Q4 2020, against the last four-quarter average of 250 deals.

Of all the deal types, venture financing saw most activity in Q4 2020 with 123, representing a 47.1% share for the region.

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In second place was M&A with 105 deals, followed by private equity deals with 33 transactions, respectively capturing a 40.2% and 12.6% share of the overall cloud deal activity for the quarter.

In terms of value of cloud deals, M&A was the leading category in the UK technology industry with $2.7bn, while venture financing and private equity deals totalled $1.08bn and $396.82m, respectively.

Europe technology industry cloud deals in Q4 2020: Top deals

The top five technology cloud deals accounted for a 56.6% share of the overall value during Q4 2020.

The combined value of the top five cloud deals stood at $2.38bn, against the overall value of $4.2bn recorded for the quarter.

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

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

2) The $683.16m acquisition of Sinch by SB Management Group

3) Bandwidth’s $527.27m acquisition of Voxbone

4) The $240m acquisition deal with Spacemaker by Autodesk

5) Accel, Atomico, Glynn Capital Management, LGT Lightstone Europe, Mousse Partners, NewView Capital, Spark Capital and Y Combinator Management’s venture financing with MessageBird for $200m.