India’s technology industry saw a drop of 9.3% in overall deal activity during November 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 49 deals worth $414.11m were announced in November 2019, compared to the 12-month average of 54 deals.
Venture financing was the leading category in the month in terms of volume with 33 deals which accounted for 67.4% of all deals.
In second place was M&A with 16 deals, followed by with transactions, respectively accounting for 32.7% and % 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 $228.5m, while venture financing and private equity deals totalled $185.61m and , respectively.
India technology industry deals in November 2019: Top deals
The top five technology industry deals accounted for 84.7% of the overall value during November 2019.
The combined value of the top five technology deals stood at $350.87m, against the overall value of $414.11m recorded for the month.
The top five technology industry deals of November 2019 tracked by GlobalData were:
1) Accel, CapitalG, GV Management Co and Sequoia Capital India’s $150m venture financing of Freshworks Technologies
2) The $150m acquisition of ETechAces Marketing and Consulting by Tencent Holdings
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3) Salcomp’s $30m asset transaction with Nokia
4) The $11.87m venture financing of Expedient Healthcare Marketing Pvt. by DG Daiwa Ventures, DG Incubation, Kotak Private Equity Group, Mistletoe, Tokio Marine HCC and Trifecta Capital Advisors
5) Chiratae Ventures, SAIF Partners and Venture Highway’s venture financing of Blitzscale Technology Solutions for $9m.
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.