India’s technology industry saw a drop of 1.7% in overall deal activity during November 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 58 deals worth $399.44m were announced in November 2020, compared to the 12-month average of 59 deals.

Venture financing was the leading category in the month in terms of volume with 38 deals which accounted for 65.5% of all deals.

In second place was M&A with 20 deals accounting for 34.5% of overall deal activity in the country’s technology industry during the month.

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By GlobalData

In terms of value of deals, M&A was the leading deal category in India’s technology industry with total deals worth $335.55m, while private equity deals totalled $63.89m.

India technology industry deals in November 2020: Top deals

The top five technology industry deals accounted for 91.2% of the overall value during November 2020.

The combined value of the top five technology deals stood at $364.24m, against the overall value of $399.44m recorded for the month.

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

1) American Tower’s $335.54m acquisition of ATC Telecom Infrastructure

2) The $8m venture financing of MediBuddy DocsApp by FinSight Ventures, JAFCO Asia and Team Fund

3) India Quotient and Lightbox Ventures’ $7.7m venture financing of Komorebi Tech Solutions

4) The $7m venture financing of Accelerator EnterpriseLtd by Accel, IND Fund and Vertex Ventures Southeast Asia

5) Info Edge (India) and Sequoia Capital India’s venture financing of Llama Technologies Solutions for $6m.

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.