1. Deals Analysis
March 10, 2021

Middle East and Africa’s technology industry saw a rise of 44.83% in artificial intelligence deal activity in Q4 2020

By Carmen

Led by ION Crossover Partners and Viola Growth’s $120m venture financing of SimilarWeb, Middle East and Africa’s technology industry saw a rise of 44.83% in artificial intelligence 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 42 artificial intelligence deals worth $699.78m were announced for the region during Q4 2020, against the last four-quarter average of 29 deals.

Of all the deal types, venture financing saw most activity in Q4 2020 with 33, representing a 78.5% share for the region.

In second place was M&A with eight deals, followed by private equity deals with one transactions, respectively capturing a 19.05% and 2.4% share of the overall artificial intelligence deal activity for the quarter.

In terms of value of artificial intelligence deals, venture financing was the leading category in Israel’s technology industry with $603.86m, followed by M&A deals totalled $90.41m.

Middle East and Africa technology industry artificial intelligence deals in Q4 2020: Top deals

The top five technology artificial intelligence deals accounted for a 56.6% share of the overall value during Q4 2020.

The combined value of the top five artificial intelligence deals stood at $396m, against the overall value of $699.78m recorded for the quarter.

The top five technology industry artificial intelligence deals of Q4 2020 tracked by GlobalData were:

1) ION Crossover Partners and Viola Growth’s $120m venture financing of SimilarWeb

2) The $116m venture financing of Xsight Labs by Atreides Management, Battery Ventures, Intel Capital, M12, Valor Equity Partners and Xilinx

3) Snap’s $70m acquisition of Voca.ai

4) The $60m venture financing deal with Trigo vision by 83North Venture Capital, Hetz Ventures Management, Morrag Investments, Red Dot Capital Partners, Tesco and Vertex Ventures Israel

5) Axess Ventures, Commerce Ventures Management, KDS Media Fund, Kreos Capital Group, La Maison Simons, LG Technology Ventures, Magma Venture Partners, MizMaa Ventures, Naver, Remagine Media Ventures, Storm Ventures and Viola Ventures’ venture financing with Visual Conception for $30m.

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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