Led by NVIDIA’s $40bn acquisition of ARM, Europe’s technology industry saw a rise of 165.40% in cross border deal activity during Q3 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 495 cross border deals worth $71.18bn were announced for the region during Q3 2020, against the last four-quarter average of 512 deals.

Of all the cross border deal types, M&A saw most activity in Q3 2020 with 235, representing a 47.5% share for the region.

In second place was venture financing with 194 cross border deals, followed by private equity deals with 66 transactions, respectively capturing a 39.2% and 13.3% share of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in Europe’s technology industry with $62.13bn, while private equity and venture financing deals totalled $6.6bn and $2.45bn, respectively.

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Top cross border deals in Europe’s technology industry in Q3 2020

The top five technology cross border deals accounted for 86.8% of the overall value during Q3 2020.

The combined value of the top five cross border deals stood at $61.77bn, against the overall value of $71.18bn recorded for the quarter.

The top five technology industry cross border deals of Q3 2020 tracked by GlobalData were:

1) NVIDIA’s $40bn acquisition of ARM

2) The $7.43bn acquisition of Sunrise Communications by Liberty Global

3) $6.8bn merger of Clarivate Analytics (US) and CPA Global

4) The $4.14bn acquisition of PLAY Communications by Iliad

5) EQT IX Fund, EQT VIII and TA Associates Management’s private equity deal with IFS for $3.39bn.