1. Deals Analysis
June 20, 2019

Middle East and Africa’s technology industry sees a drop of 2.2% in deal activity in May 2019

By Carmen

Middle East and Africa’s technology industry saw a drop of 2.2% in deal activity during May 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 45 technology industry deals worth $2.32bn were announced for the region in May 2019, against the 12-month average of 46 deals.

Of all the deal types, venture financing saw most activity in May 2019 with 23 transactions, representing a 51.1% share for the region.

In second place was M&A with 18 deals, followed by private equity deals with four transactions, respectively capturing a 40% and 8.9% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in Middle East and Africa’s technology industry with $2.14bn, while venture financing and private equity deals totalled $180.74m and $9m, respectively.

Middle East and Africa technology industry deals in May 2019: Top deals

The top five technology deals accounted for 92.5% of the overall value during May 2019.

The combined value of the top five technology deals stood at $2.15bn, against the overall value of $2.32bn recorded for the month. The top announced technology deal tracked by GlobalData in May 2019 was ATC Heston’s $1.85bn acquisition of Eaton Towers Holding.

In second place was the $120m acquisition of Meta Networks by Proofpoint and in third place was NetApp’s $70m acquisition of Cognigo.

The $60m venture financing of GuardiCore by Access Industries, Battery Ventures, Deutsche Telekom Capital Partners Management, Greenfield Partners, 83North, Partech Partners, Qumra Capital and TPG Growth and Salesforce.Com’s acquisition of Bonobo AI for $50m held fourth and fifth positions, respectively.

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.

 

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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