1. Deals Analysis
November 27, 2019

Middle East and Africa’s technology industry sees a drop of 4.2% in deal activity in Q3 2019

By Carmen

Middle East and Africa’s technology industry saw a drop of 4.2% in overall deal activity during Q3 2019, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 138 deals worth $3.03bn were announced for the region during Q3 2019, against the last four-quarter average of 144 deals.

Of all the deal types, venture financing saw most activity in Q3 2019 with 98, representing a 71.01% share for the region.

In second place was M&A with 35 deals, followed by private equity deals with five transactions, respectively capturing a 25.4% and 3.6% 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 $2.12bn, while venture financing and private equity deals totalled $723.88m and $185.36m, respectively.

Middle East and Africa technology industry deals in Q3 2019: Top deals

The top five technology deals accounted for 79.2% of the overall value during Q3 2019.

The combined value of the top five technology deals stood at $2.4bn, against the overall value of $3.03bn recorded for the quarter.

The top five technology industry deals of Q3 2019 tracked by GlobalData were:

1) Salesforce.Com’s $1.4bn acquisition of ClickSoftware Technologies

2) The $582.62m acquisition of Djezzy by VEON

3) Hamilton Lane, HarbourVest Partners, ION Crossover Partners, Sapphire Ventures and Vintage Investment Partners’ $150m venture financing of monday.com

4) The $135m venture financing of Lightricks by Claltech, Goldman Sachs Private Capital Investing group and Insight Partners

5) FirstRand, Metier Private Equity and VOX Telecom- Management Team’s private equity deal with VOX Telecom for $131.36m.

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 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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