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.
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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.