India’s technology industry saw a rise of 12.1% in overall deal activity during October 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 65 deals worth $270.76m were announced in October 2020, compared to the 12-month average of 58 deals.

Venture financing was the leading category in the month in terms of volume with 50 deals which accounted for 76.9% of all deals.

In second place was M&A with 13 deals, followed by private equity with two transactions, respectively accounting for 20% and 3.1% 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 $143.31m, while venture financing and private equity deals totalled $124.9m and $2.55m, respectively.

India technology industry deals in October 2020: Top deals

The top five technology industry deals accounted for 21.7% of the overall value during October 2020.

The combined value of the top five technology deals stood at $58.87m, against the overall value of $270.76m recorded for the month.

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

1) Base Partners, Hummingbird Ventures, RTP Global, Sequoia Capital India and Tiger Global Management’s $15m venture financing of Abstrakt Video

2) The $12.87m acquisition of Encore Theme Technologies by Wipro

3) Heron Rock Capital, Jumbofund1, Nexus Venture Partners, Pimpernel Holdings, Reaction Fund and Siddhi Capital’s $11m venture financing of Jumbotail Technologies

4) The $10m asset transaction with Zensar Technologies by Service Express

5) 3ONE4 Capital Advisors, Unitus Ventures and VH Capital’s venture financing of Betterplace Safety Solutions and Junglee Ventures for $9.99m.

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.