Led by $4.03bn acquisition of Adapt IT Holdings, Middle East and Africa’s technology industry saw a rise of 50.77% in cloud 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 49 cloud deals worth $5.17bn were announced for the region during Q1 2021, against the last four-quarter average of 32.50 deals.
Of all the deal types, venture financing saw most activity in Q1 2021 with 32 deals, representing a 65.3% share for the region.
In second place was M&A with 15 deals, followed by private equity deals with two transactions, respectively capturing a 30.6% and 4.1% share of the overall cloud deal activity for the quarter.
In terms of value of cloud deals, M&A was the leading category in Middle East and Africa’s technology industry with $4.24bn, while venture financing and private equity deals totalled $792.37m and $137.57m, respectively.
Middle East and Africa technology industry cloud deals in Q1 2021: Top deals
The top five technology cloud deals accounted for a 90.3% share of the overall value during Q1 2021.
The combined value of the top five cloud deals stood at $4.67bn, against the overall value of $5.17bn recorded for the quarter.
The top five technology industry cloud deals of Q1 2021 tracked by GlobalData were:
1) Huge Group’s $4.03bn acquisition of Adapt IT Holdings
2) The $208m venture financing of DriveNets by Atreides Management, Bessemer Venture Partners, D1 Capital Partners and Pitango Venture Capital
3) Livestock Improvement’s $160m acquisition of 55% stake in Afimilk
4) The $137.57m private equity deal for 62.5% stake in E&M Computing by FIMI Opportunity Funds
5) Acrew Capital, Greenspring Associates, Insight Partners, ION Crossover Partners, Lightspeed Management Company, M12 and TLV Partners’ venture financing with Aqua Security Softwere for $135m.
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.