India’s technology industry saw a drop of 2.13% in overall cross border deal activity during January 2022, when compared with the last 12-month average, led by Alphabet’s $700m acquisition of 1.28% stake in Bharti Airtel, according to GlobalData’s deals database.
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A total of 46 cross border deals worth $1.9bn were announced in January 2022, compared with the 12-month average of 47 deals.
venture financing was the leading category in the month in terms of volume with 37 deals, which accounted for 80.4% of all cross border deals.
In second place was M&A with eight cross border deals, followed by private equity with one transactions, respectively accounting for 17.4% and 2.2% of overall deal activity in the India’s technology industry during the month.
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In terms of value of cross border deals, venture financing was the leading deal category in India’s technology industry with total deals worth $1bn, while M&A and private equity deals totalled $700m and $200m respectively.
India technology industry cross border deals in January 2022: Top deals
The top five technology industry cross border deals accounted for 70% of the overall value during January 2022.
The combined value of the top five technology cross border deals stood at $1.33bn, against the overall value of $1.9bn recorded for the month.
The top five technology industry cross border deals of January 2022 tracked by GlobalData were:
1) Alphabet $700m acquisition deal for 1.28% stake in Bharti Airtel
2) The $250m venture financing of Moglilabs by Falcon Edge Capital,Tiger Global Management and Ward Ferry Management
3) Global Emerging Markets $200m private equity deal with Smartron India Pvt
4) The $100m venture financing of Leadership Boulevard by GSV Ventures and WestBridge Capital Partners
5) Bobby Mehta,Digital Horizon,DST Global,Jigsaw VC,Oliver Jung,QED Investors,RTP Global,Susir Kumar,Tiger Global Management and XYZ Capital $82m venture financing deal with Refyne Tech