India’s technology industry saw a drop of 11.1% in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 48 deals worth $232.33m were announced in February 2020, compared to the 12-month average of 54 deals.

Venture financing was the leading category in the month in terms of volume with 32 deals which accounted for 66.7% of all deals.

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In second place was M&A with 16 deals accounting for 33.3% of overall deal activity in the country’s technology industry during the month.

In terms of value of deals, M&A was the leading deal category in India’s technology industry with total deals worth $163.37m, followed by private equity deals totalled $68.95m.

India technology industry deals in February 2020: Top deals

The top five technology industry deals accounted for 62.8% of the overall value during February 2020.

The combined value of the top five technology deals stood at $146m, against the overall value of $232.33m recorded for the month.

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

1) Tech Mahindra’s $62m acquisition of Zen3 Infosolutions (America) and Zen3 Infosolutions (India)

2) The $32m venture financing of Quicko TechnoSoft Labs by Cisco Investments, Eight Roads Ventures India, F-Prime and Sequoia Capital India

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3) GGV Capital’s $24m venture financing of Vedantu Innovations

4) The $20m venture financing of iMerit Technology Services by CDC Group, Khosla Impact, Michael & Susan Dell Foundation and Omidyar Network

5) Accel and Shunwei Capital Partners’ venture financing of SimSim Bags for $8m.

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.

 

Visit our ‘Technology Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the technology industry.