1. Deals Analysis
January 27, 2021

Middle East and Africa’s technology industry saw a drop of 37.50% in cross border deal activity during December 2020

By Carmen

Middle East and Africa’s technology industry saw a drop of 37.50% in cross border deal activity during December 2020, when compared with the last 12-month average, led by $350m acquisition of Collective Growth and Innoviz Technologies, according to GlobalData’s deals database.

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A total of 20 technology industry cross border deals worth $593.96m were announced for the region in December 2020, against the 12-month average of 32 deals.

Of all the deal types, venture financing saw most activity in December 2020 with 13 transactions, representing a 65% share for the region.

In second place was M&A with seven deals capturing a 35% of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Middle East and Africa’s technology industry with $407.31m, followed by venture financing deals totalled $186.65m.

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

The top five technology cross border deals accounted for 88.6% of the overall value during December 2020.

The combined value of the top five technology cross border deals stood at $526.04m, against the overall value of $593.96m recorded for the month.

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

1) The $350m merger of Collective Growth and Innoviz Technologies

2) The $100m venture financing deal with Wiz by CyberStarts, Index Ventures and Insight Partners

3) Epiroc Canada’s $31.04m acquisition of MineRP Holdings

4) The $25m venture financing of Noname Security by CyberStarts, Insight Partners and Lightspeed Management Company

5) Dreamtech’s venture financing of NanoScent Labs for $20m.

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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