1. Deals Analysis
February 26, 2021

North America’s technology industry saw a drop of 27.50% in future of work deal activity during January 2021

By Carmen

North America’s technology industry saw a drop of 27.50% in future of work deal activity during January 2021, when compared with the last 12-month average, led by Cisco Systems’ $4.5bn acquisition of Acacia Communications, according to GlobalData’s deals database.

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A total of 29 technology industry future of work deals worth $7.93bn were announced for the region in January 2021, against the 12-month average of 40 deals.

Of all the deal types, venture financing saw most activity in January 2021 with 14 transactions, representing a 48.3% share for the region.

In second place was M&A with 12 deals, followed by private equity deals with three transactions, respectively capturing a 41.4% and 10.3% share of the overall future of work deal activity for the month.

In terms of value of future of work deals, M&A was the leading category in North America’s technology industry with $6.75bn, while venture financing and private equity deals totalled $908.67m and $270m, respectively.

North America technology industry future of work deals in January 2021: Top deals

The top five technology future of work deals accounted for 94.3% of the overall value during January 2021.

The combined value of the top five technology future of work deals stood at $7.48bn, against the overall value of $7.93bn recorded for the month.

The top five technology industry future of work deals of January 2021 tracked by GlobalData were:

1) Cisco Systems’ $4.5bn acquisition of Acacia Communications

2) The $2.25bn acquisition deal with Wrike by Citrix Systems

3) ICONIQ Capital and OpenView Advisors’ $350m venture financing of Calendly

4) The $270m private equity deal with Paycor by ClearBridge Investments, Franklin Resources, Leumi Partners, Neuberger Berman, Qatar Investment Authority and Teca Partners

5) Altimeter Capital Management, Battery Ventures, Insight Partners and Redpoint Ventures’ venture financing of Workato for $110m.

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.

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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