Middle East and Africa’s technology industry saw a drop of 28.57% in cross border deal activity during November 2022, when compared with the last 12-month average, led by Palo Alto Networks’ $195m acquisition of Cider Security, according to GlobalData’s deals database.
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A total of 45 technology industry cross border deals worth $592.1m were announced for the region in November 2022, against the 12-month average of 63 deals.
Of all the deal types, venture financing saw most activity in November 2022 with 27 transactions, representing a 60% share for the region.
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In second place was M&A with 12 deals, followed by private equity deals with six transactions, respectively capturing a 26.7% and 13.3% 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 $349.06m, while M&A and private equity deals totalled $195.03m and $48m, respectively.
Middle East and Africa technology industry cross border deals in November 2022: Top deals
The top five technology cross border deals accounted for 76.5% of the overall value during November 2022.
The combined value of the top five technology cross border deals stood at $453m, against the overall value of $592.1m recorded for the month.
The top five technology industry cross border deals of November 2022 tracked by GlobalData were:
1) Palo Alto Networks’s $195m acquisition deal with Cider Security
2) The $150m venture financing of Fenix Games by Cypher Capital and Phoenix Group
3) Alpana Ventures, Energize Ventures, Expara Ventures, Keen Venture Partners, Kreos Capital IV, Swisscanto Invest, Thayer Fund VI and Verve Capital Partners’s $50m venture financing deal with Beekeeper
4) The $33m venture financing of Dataloop by Alpha Wave Ventures and Nokia Growth Partners
5) Grove Ventures, Marius Nacht, Matrix Partners and StageOne Ventures’s $25m private equity deal with CommonGround