Led by $350m merger of Collective Growth and Innoviz Technologies, Middle East and Africa’s technology industry saw a rise of 4.30% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 97 cross border deals worth $1.55bn were announced for the region during Q4 2020, against the last four-quarter average of 93 deals.
Of all the deal types, venture financing saw most activity in Q4 2020 with 66, representing a 68% share for the region.
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In second place was M&A with 23 deals, followed by private equity deals with eight transactions, respectively capturing a 23.7% and 8.3% share of the overall cross border deal activity for the quarter.
In terms of value of cross border deals, venture financing was the leading category in Israel’s technology industry with $821.36m, while M&A and private equity deals totalled $494.73m and $236.65m, respectively.
Middle East and Africa technology industry cross border deals in Q4 2020: Top deals
The top five technology cross border deals accounted for a 53.1% share of the overall value during Q4 2020.
The combined value of the top five cross border deals stood at $825.29m, against the overall value of $1.55bn recorded for the quarter.
The top five technology industry cross border deals of Q4 2020 tracked by GlobalData were:
1) The $350m merger of Collective Growth and Innoviz Technologies
2) The $139.29m private equity deal with OctotelLimited by Actis
3) Acrew Capital, Aspect Ventures, Coatue Management, Greylock Partners, Lightspeed Management Company, Shlomo Kramer and Singtel Innov8 Ventures’ $130m venture financing of Cato Networks
4) The $106m venture financing deal with INUITIVE by Dor Tzafniuk, Shlomo Gadot and Yinniu Microelectronics (Wuxi)
5) CyberStarts, Index Ventures and Insight Partners’ venture financing with Wiz for $100m.