1. Deals Analysis
March 25, 2021

India’s technology industry sees a rise of 52.17% in cross border deal activity in February 2021

By Carmen

India’s technology industry saw a rise of 52.17% in overall cross border deal activity during February 2021, when compared with the last 12-month average, led by Brighton Park Capital and The Carlyle Group’s $200m private equity deal with Indegene Lifesystems, according to GlobalData’s deals database.

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A total of 35 cross border deals worth $855.94m were announced in February 2021, compared with the 12-month average of 23 deals.

venture financing was the leading category in the month in terms of volume with 28 deals, which accounted for 80% of all cross border deals.

In second place was M&A with five cross border deals, followed by private equity with two transactions, respectively accounting for 14.3% and 5.7% of overall deal activity in the India’s technology industry during the month.

In terms of value of cross border deals, venture financing was the leading deal category in India’s technology industry with total deals worth $565.93m, while private equity and M&A deals totalled $200.02m and $90m respectively.

India technology industry cross border deals in February 2021: Top deals

The top five technology industry cross border deals accounted for 71.9% of the overall value during February 2021.

The combined value of the top five technology cross border deals stood at $615.21m, against the overall value of $855.94m recorded for the month.

The top five technology industry cross border deals of February 2021 tracked by GlobalData were:

1) Brighton Park Capital and The Carlyle Group’s $200m private equity deal with Indegene Lifesystems

2) The $120.21m venture financing of ZetwerkLtd. by Greenoaks Capital Management, Kae Capital ManagementLtd., Lightspeed Management Company and Sequoia Capital India

3) Glade Brook Capital Partners and Qatar Investment Authority’s $100m venture financing of Verse Innovation

4) The $100m venture financing deal with Hella Infra Market by Accel Partners (India), Evolvence India Fund II, Fundamental Capital, Nexus Venture Partners, Sistema Asia Fund and Tiger Global Management

5) Base Partners, Composite Capital Management, Founders Circle Capital, Go-Ventures, Moore Strategic Ventures, Play Ventures, RTP Global – UK, SIG and Telstra Ventures’ venture financing with Galactus Funware Technology for $95m.

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.

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