Middle East and Africa’s technology industry saw a flat growth in deal activity during July 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 46 technology industry deals worth $461.86m were announced for the region in July 2019, against the 12-month average of 46 deals.
Of all the deal types, venture financing saw most activity in July 2019 with 35 transactions, representing a 76.1% share for the region.
In second place was M&A with ten deals, followed by private equity deals with one transactions, respectively capturing a 21.7% and 2.2% share of the overall deal activity for the month.
In terms of value of deals, venture financing was the leading category in Middle East and Africa’s technology industry with $350.38m, while M&A and private equity deals totalled $111.47m and $0m, respectively.
Middle East and Africa technology industry deals in July 2019: Top deals
The top five technology deals accounted for 85.8% of the overall value during July 2019.
The combined value of the top five technology deals stood at $396.47m, against the overall value of $461.86m recorded for the month.
The top five technology industry deals of July 2019 tracked by GlobalData were:
1) Hamilton Lane, HarbourVest Partners, ION Crossover Partners, Sapphire Ventures and Vintage Investment Partners’ $150m venture financing of monday.com
2) The $135m venture financing of Lightricks by Claltech, Goldman Sachs Private Capital Investing group and Insight Partners
3) Amazon Web Services’ $60m acquisition of E8 Storage Systems
4) The $31.47m acquisition of Construction Computer SoftwareLtd. by RIB
5) Groupe Sipromad’s acquisition of Africanews SASU for $20m.
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.
Visit our ‘Technology Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the technology industry.