India’s technology industry saw a drop of 9.3% in overall deal activity during October 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 $643.44m were announced in October 2019, compared to the 12-month average of 54 deals.

Venture financing was the leading category in the month in terms of volume with 37 deals which accounted for 75.5% of all deals.

In second place was M&A with 12 deals accounting for 24.5% 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 $588.16m, followed by venture financing deals totalled $55.28m.

India technology industry deals in October 2019: Top deals

The top five technology industry deals accounted for 84.4% of the overall value during October 2019.

The combined value of the top five technology deals stood at $542.94m, against the overall value of $643.44m recorded for the month.

The top five technology industry deals of October 2019 tracked by GlobalData were:

1) Altimeter Capital Management, Citi Ventures, DST Global, Footpath Ventures, GGV Capital, Hillhouse Capital Group, Lightspeed Management Company and Tencent Holdings’ $285m venture financing of Udaan.com

2) The $148.26m venture financing of Bulbulshop Shopping Network by CDH Investments Fund Management, Leo Capital and Sequoia Capital China

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3) JS Capital, Prime Venture Partners, Tencent Holdings and Tiger Global Management’s $56m venture financing of myGate

4) The $31.84m asset transaction with Unbox Technologies by ICICI Lombard General Insurance

5) D3 Jubilee, HB Investment, IBK Capital-Q Capital Partners, Imm Investment, NH Investment & Securities, SB Pan-Asia Fund and Shinhan Capital’s venture financing of Balance Hero for $21.84m.

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.