1. Deals Analysis
May 10, 2021

Middle East and Africa’s technology industry saw a rise of 46.96% in cross border deal activity in Q1 2021

By Carmen

Led by $10bn merger of ironSource and Thoma Bravo Advantage, Middle East and Africa’s technology industry saw a rise of 46.96% in cross border deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 133 cross border deals worth $12.3bn were announced for the region during Q1 2021, against the last four-quarter average of 90.50 deals.

Of all the deal types, venture financing saw most activity in Q1 2021 with 94 deals, representing a 70.7% share for the region.

In second place was M&A with 35 deals, followed by private equity deals with four transactions, respectively capturing a 26.3% and 3.01% share of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in Middle East and Africa’s technology industry with $10.28bn, while venture financing and private equity deals totalled $1.42bn and $600m, respectively.

Middle East and Africa technology industry cross border deals in Q1 2021: Top deals

The top five technology cross border deals accounted for an 89.6% share of the overall value during Q1 2021.

The combined value of the top five cross border deals stood at $11.03bn, against the overall value of $12.3bn recorded for the quarter.

The top five technology industry cross border deals of Q1 2021 tracked by GlobalData were:

1) The $10bn merger of ironSource and Thoma Bravo Advantage

2) The $600m private equity deal with MyHeritage by Francisco Partners Management, Gigi Levy, Gilad Japhet, HP Beteiligungs and Yuval Rakavy

3) Livestock Improvement’s $160m acquisition of 55% stake in Afimilk

4) The $135m venture financing deal with Aqua Security Softwere by Acrew Capital, Greenspring Associates, Insight Partners, ION Crossover Partners, Lightspeed Management Company, M12 and TLV Partners

5) CyberStarts, Index Ventures, Insight Partners and Sequoia Capital Operations’ venture financing with Wiz for $130m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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