Led by Abu Dhabi Investment Authority and Public Investment Fund of Saudi Arabia’s $1.02bn private equity deal with Digital Fibre Infrastructure Trust, India’s technology industry saw a flat growth in overall cross border deal activity during Q4 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 68 cross border deals worth $2.11bn were announced in Q4 2020, compared with the last four-quarter average of 68 deals.
venture financing was the leading category in the quarter with 52 cross border deals which accounted for 76.4% of all deals.
In second place was M&A with twelve deals, followed by private equity with four transactions, respectively accounting for 17.6% and 5.88% of overall cross border deal activity in the India’s technology industry during the quarter.
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In terms of value of cross border deals, private equity was the leading deal category in India’s technology industry with total deals worth $1.02bn, while venture financing and M&A deals totalled $625.57m and $345.54m respectively.
India technology industry cross border deals in Q4 2020: Top deals
The top five technology industry cross border deals accounted for 80.4% of the overall value during Q4 2020.
The combined value of the top five technology cross border deals stood at $1.7bn, against the overall value of $2.11bn recorded for the quarter.
The top five technology industry cross border deals of Q4 2020 tracked by GlobalData were:
1) Abu Dhabi Investment Authority and Public Investment Fund of Saudi Arabia’s $1.02bn private equity deal with Digital Fibre Infrastructure Trust
2) The $335.54m acquisition of ATC Telecom Infrastructure by American Tower
3) Google and Mithril Capital Management’s $145m venture financing of Glance Digital Experience
4) The $100m venture financing deal with Pine Labs by Lone Pine Capital
5) Alphawave Holdings, Google, Lupa Systems, Microsoft and Sofina’s venture financing with Verse Innovation for $100m.