North America’s technology industry saw a drop of 12.50% in internet of things deal activity during February 2021, when compared with the last 12-month average, led by Sensata Technologies Holding’s $400m acquisition of Xirgo Technologies, according to GlobalData’s deals database.
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A total of 28 technology industry internet of things deals worth $1.28bn were announced for the region in February 2021, against the 12-month average of 32 deals.
Of all the deal types, venture financing saw most activity in February 2021 with 20 transactions, representing a 71.4% share for the region.
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By GlobalDataIn second place was M&A with eight deals capturing a 28.6% share of the overall internet of things deal activity for the month.
In terms of value of internet of things deals, venture financing was the leading category in North America’s technology industry with $882.25m, followed by M&A deals totalled $400m.
North America technology industry internet of things deals in February 2021: Top deals
The top five technology internet of things deals accounted for 83.5% of the overall value during February 2021.
The combined value of the top five technology internet of things deals stood at $1.07bn, against the overall value of $1.28bn recorded for the month.
The top five technology industry internet of things deals of February 2021 tracked by GlobalData were:
1) Sensata Technologies Holding’s $400m acquisition of Xirgo Technologies
2) The $270m venture financing deal with Plume Design by Insight Partners
3) Charles River Ventures, EQT Ventures Fund, SK Networks, SoftBank Vision Fund II and TI Platform Management’s $150m venture financing of Standard Cognition
4) The $150m venture financing of Locus Robotics by Bond Capital Partners (UK), Prologis Ventures, Scale Venture Partners and Tiger Global Management
5) Bessemer Venture Partners, Lightspeed Management Company, OpenView Advisors, Stripes Group and Vertex’s venture financing of Axonius for $100m.