1. Deals Analysis
March 16, 2021

Middle East and Africa’s technology industry saw a rise of 3.23% in cross border deal activity during February 2021

By Carmen

Middle East and Africa’s technology industry saw a rise of 3.23% in cross border deal activity during February 2021, when compared with the last 12-month average, led by Francisco Partners Management, Gigi Levy, Gilad Japhet, HP Beteiligungs and Yuval Rakavy’s $600m acquisition of MyHeritage, according to GlobalData’s deals database.

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A total of 32 technology industry cross border deals worth $1.08bn were announced for the region in February 2021, against the 12-month average of 31 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 26 transactions, representing an 81.3% share for the region.

In second place was M&A with five deals, followed by private equity deals with one transactions, respectively capturing a 15.6% and 3.1% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, private equity was the leading category in Middle East and Africa’s technology industry with $600m, while venture financing and M&A deals totalled $481.74m and $1.37m, respectively.

Middle East and Africa technology industry cross border deals in February 2021: Top deals

The top five technology cross border deals accounted for 82.2% of the overall value during February 2021.

The combined value of the top five technology cross border deals stood at $890m, against the overall value of $1.08bn recorded for the month.

The top five technology industry cross border deals of February 2021 tracked by GlobalData were:

1) Francisco Partners Management, Gigi Levy, Gilad Japhet, HP Beteiligungs and Yuval Rakavy’s $600m private equity deal with MyHeritage

2) The $120m venture financing deal with Cyesec by 83North Venture Capital and EQT Partners

3) Insight Partners, Israel Growth Partners, Jerusalem Venture Partners and Vintage Investment Partners’ $75m venture financing of Earnix

4) The $65m venture financing of Pliops by Expon Capital, Intel Capital, Koch Disruptive Technologies, NVIDIA, SoftBank Ventures Asia, State of Mind Ventures, Sweetwood Capital, Viola Ventures, Western Digital Capital and Xilinx Technology Ventures

5) Dawn Capital, Hetz Ventures Management, Insight Partners, Red Dot Capital Partners and TLV Partners’ venture financing of Granulate Cloud Solutions for $30m.

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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