France’s technology industry saw a drop of 9.52% in overall deal activity during February 2021, when compared with the last 12-month average, led by Cellnex Telecom’s $6.27bn acquisition of Hivory, according to GlobalData’s deals database.

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A total of 38 deals worth $6.56bn were announced in February 2021, compared with the 12-month average of 42 deals.

venture financing was the leading category in the month in terms of volume with 19 deals, which accounted for 50% of all deals.

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In second place was M&A with 14 deals, followed by private equity with five transactions, respectively accounting for 36.8% and 13.2% of overall deal activity in the France’s technology industry during the month.

In terms of value of deals, M&A was the leading deal category in France’s technology industry with total deals worth $6.38bn, followed by venture financing deals totalled $181.21m.

France technology industry deals in February 2021: Top deals

The top five technology industry deals accounted for 98.4% of the overall value during February 2021.

The combined value of the top five technology deals stood at $6.45bn, against the overall value of $6.56bn recorded for the month.

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

1) Cellnex Telecom’s $6.27bn acquisition of Hivory

2) The $98m acquisition of Alsid by Tenable

3) Accel, Alexis Ohanian, Antoine Griezmann, Benchmark Capital, Gary Vaynerchuk and Rio Ferdinand’s $48.61m venture financing of Sorare

4) The $24.25m venture financing deal with Libeo by Breega Capital, DST Global, LocalGlobe and Serena Capital

5) Zordix’s acquisition of Just For Games for $16.87m.