Middle East and Africa’s technology industry saw a rise of 14.9% in overall deal activity during Q2 2020, when compared to the four-quarter average, according to GlobalData’s deals database.
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A total of 177 deals worth $2.94bn were announced for the region during Q2 2020, against the last four-quarter average of 154 deals.
Of all the deal types, venture financing saw most activity in Q2 2020 with 134, representing a 75.7% share for the region.
In second place was M&A with 38 deals, followed by private equity deals with five transactions, respectively capturing a 21.5% and 2.8% share of the overall deal activity for the quarter.
In terms of value of deals, M&A was the leading category in Middle East and Africa’s technology industry with $1.99bn, while venture financing and private equity deals totalled $925.5m and $27.96m, respectively.
Middle East and Africa technology industry deals in Q2 2020: Top deals
The top five technology deals accounted for 69.05% of the overall value during Q2 2020.
The combined value of the top five technology deals stood at $2.03bn, against the overall value of $2.94bn recorded for the quarter.
The top five technology industry deals of Q2 2020 tracked by GlobalData were:
1) Intel’s $900m acquisition of Moovit App Global
2) The $450m acquisition of Spotinst by NetApp
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3) National Instruments’ $365m acquisition of OptimalPlus
4) The $170m acquisition of CyberX by Microsoft
5) American Express Ventures, Bain Capital Tech Opportunities, CreditEase Israel Innovation Fund, Industry Ventures, Maverick Ventures and OurCrowd’s venture financing of BioCatch for $145m.
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.