1. Deals Analysis
April 30, 2021

Middle East and Africa’s technology industry saw a rise of 93.55% in cross border deal activity during March 2021

By Carmen

Middle East and Africa’s technology industry saw a rise of 93.55% in cross border deal activity during March 2021, when compared with the last 12-month average, led by $10bn acquisition of ironSource and Thoma Bravo Advantage, according to GlobalData’s deals database.

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A total of 60 technology industry cross border deals worth $10.99bn were announced for the region in March 2021, against the 12-month average of 31 deals.

Of all the deal types, venture financing saw most activity in March 2021 with 43 transactions, representing a 71.7% share for the region.

In second place was M&A with 15 deals, followed by private equity deals with two transactions, respectively capturing a 25% and 3.3% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Middle East and Africa’s technology industry with $10.19bn, followed by venture financing deals totalled $792.78m.

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

The top five technology cross border deals accounted for 95.9% of the overall value during March 2021.

The combined value of the top five technology cross border deals stood at $10.53bn, against the overall value of $10.99bn recorded for the month.

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

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

2) The $160m acquisition deal with Afimilk by Livestock Improvement

3) Acrew Capital, Greenspring Associates, Insight Partners, ION Crossover Partners, Lightspeed Management Company, M12 and TLV Partners’ $135m venture financing of Aqua Security Softwere

4) The $130m venture financing of Wiz by CyberStarts, Index Ventures, Insight Partners and Sequoia Capital Operations

5) Bessemer Venture Partners, BlueRed Partners, Dynamic Loop Capital, Insight Partners, New Era Capital Partners, Pitango Venture Capital and Verizon Ventures’ venture financing of Optibus for $107m.

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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