Middle East and Africa’s technology industry saw a rise of 8.9% in deal activity during June 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

A total of 49 technology industry deals worth $1.22bn were announced for the region in June 2019, against the 12-month average of 45 deals.

Of all the deal types, venture financing saw most activity in June 2019 with 36 transactions, representing a 73.5% share for the region.

In second place was M&A with nine deals, followed by private equity deals with four transactions, respectively capturing an 18.4% and 8.2% share of the overall deal activity for the month.

In terms of value of deals, private equity was the leading category in Middle East and Africa’s technology industry with $874.63m, while venture financing and M&A deals totalled $323.11m and $18.58m, respectively.

Middle East and Africa technology industry deals in June 2019: Top deals

The top five technology deals accounted for 77.9% of the overall value during June 2019.

The combined value of the top five technology deals stood at $947.76m, against the overall value of $1.22bn recorded for the month. The top announced technology deal tracked by GlobalData in June 2019 was Emirates Investment Authority’s $626.06m private equity deal with Emirates Integrated Telecommunications Company.

In second place was the $133.7m private equity deal with B Communications by Fuhrer Family and Searchlight Capital Partners and in third place was Israel Growth Partners’ $110m private equity deal with Cellebrite Mobile Synchronization.

The $40m venture financing of Venn by Bridges Israel, Hamilton Lane and Pitango Venture Capital and 360 Capital Management, Beijing Phoenix Wealth Holding Group, China Merchants Group, Aptiv, Glory Ventures, Harel Insurance Investments and Financial Services, Magma Venture Partners, Magna International, New Alliance Capital, Samsung Venture Investment, Shenzhen Capital Group, SoftBank Ventures Asia and Vertex Ventures Israel’s venture financing of Innoviz Technologies for $38m held fourth and fifth positions, respectively.

Verdict deals analysis methodology

This analysis considers only announced and completed 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.

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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.