Middle East and Africa’s technology industry saw a drop of 20.6% in overall deal activity during Q3 2020, when compared to the four-quarter average, according to GlobalData’s deals database.
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A total of 127 deals worth $982.3m were announced for the region during Q3 2020, against the last four-quarter average of 160 deals.
Of all the deal types, venture financing saw most activity in Q3 2020 with 98, representing a 77.2% share for the region.
In second place was M&A with 22 deals, followed by private equity deals with seven transactions, respectively capturing a 17.3% and 5.5% share of the overall deal activity for the quarter.
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In terms of value of deals, venture financing was the leading category in Middle East and Africa’s technology industry with $696.45m, while M&A and private equity deals totalled $277m and $8.85m, respectively.
Middle East and Africa technology industry deals in Q3 2020: Top deals
The top five technology deals accounted for 34.6% of the overall value during Q3 2020.
The combined value of the top five technology deals stood at $340m, against the overall value of $982.3m recorded for the quarter.
The top five technology industry deals of Q3 2020 tracked by GlobalData were:
1) Helios Towers’ $189m asset transaction with Free Senegal
2) The $45m venture financing of ProteanTecs by Atreides Management, Koch Disruptive Technologies and Valor Equity Partners
3) Insight Partners’ $40m venture financing of Perimeter 81
4) The $35m venture financing of EverCompliant by American Express Ventures, Arbor Ventures, Viola Ventures, Joey Low, Maor Investments and Red Dot Capital Partners
5) Dynamic Loop Capital, Emerge VC, F2 Capital and Zeev Ventures’ venture financing of Explorium for $31m.
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.