India’s technology industry saw a drop of 3.7% in overall deal activity during September 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 52 deals worth $386.81m were announced in September 2019, compared to the 12-month average of 54 deals.

Venture financing was the leading category in the month in terms of volume with 39 deals which accounted for 75% of all deals.

In second place was M&A with 12 deals, followed by private equity with one transaction, respectively accounting for 23.1% and 1.9% 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, venture financing was the leading deal category in India’s technology industry with total deals worth $281.02m, while M&A and private equity deals totalled $74.88m and $30.91m, respectively.

India technology industry deals in September 2019: Top deals

The top five technology industry deals accounted for 72.9% of the overall value during September 2019.

The combined value of the top five technology deals stood at $281.88m, against the overall value of $386.81m recorded for the month.

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

1) Affirma Capital’s $74.88m private equity deal with Prodapt Solutions

2) The $67m venture financing of Psi Phi Global Solutions(OKCredit) by Lightspeed India Partners and Tiger Global Management

3) Accel, Fundamentum and SAIF Partners India’s $50m venture financing of Yellow Drive Technologies

4) The $45m venture financing of Dunzo Digital by 3L Capital, Google, Lightbox Ventures, STIC Investments and STIC Ventures

5) Mithril Capital Management’s venture financing of Glance for $45m.

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.