1. Deals Analysis
December 30, 2020

Middle East and Africa’s technology industry saw a drop of 12.5% in cross border deal activity during November 2020

By Carmen

Middle East and Africa’s technology industry saw a drop of 12.5% in cross border deal activity during November 2020, when compared with the last 12-month average, led by Acrew Capital, Aspect Ventures, Coatue Management, Greylock Partners, Lightspeed Management Company, Shlomo Kramer and Singtel Innov8 Ventures’ $130m acquisition of Cato Networks, according to GlobalData’s deals database.

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A total of 28 technology industry cross border deals worth $435m were announced for the region in November 2020, against the 12-month average of 32 deals.

Of all the deal types, venture financing saw most activity in November 2020 with 19 transactions, representing a 67.9% share for the region.

In second place was M&A with eight deals, followed by private equity deals with one transactions, respectively capturing a 28.6% and 3.6% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, venture financing was the leading category in Middle East and Africa’s technology industry with $250.22m, while private equity and M&A deals totalled $97.37m and $87.41m, respectively.

Middle East and Africa technology industry cross border deals in November 2020: Top deals

The top five technology cross border deals accounted for 83.3% of the overall value during November 2020.

The combined value of the top five technology cross border deals stood at $362.37m, against the overall value of $435m recorded for the month.

The top five technology industry cross border deals of November 2020 tracked by GlobalData were:

1) Acrew Capital, Aspect Ventures, Coatue Management, Greylock Partners, Lightspeed Management Company, Shlomo Kramer and Singtel Innov8 Ventures’ $130m venture financing of Cato Networks

2) The $97.37m private equity deal with Metrofibre Networx (Pty.) by African Infrastructure Investment Managers, African Rainbow Capital Proprietary, Kameel Keshav, Rali Mampeule, Sanlam InvestmentsLimited and STOA Infra and Energy

3) Snap’s $70m acquisition of Voca.ai

4) The $45m venture financing of Percepto by Arkin Holdings, Atento Capital, Delek US Holdings, Koch Disruptive Technologies, Spider Capital, State of Mind Ventures, Summit Peak Investments and U.S. Venture Partners (USVP)

5) BlueRed Partners, Citigroup, Evolution Equity Partners, Innovation Endeavors and The Goldman Sachs Group’s venture financing of Unbound Tech for $20m.

Verdict deals analysis methodology

This analysis considers only announced and completed cross border 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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