1. Deals Analysis
March 3, 2021

India’s technology sees a flat growth in cross border deal activity in Q4 2020

By Carmen

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.

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.

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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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