North America’s technology industry saw a drop of 32.63% in cross border deal activity during May 2022, when compared with the last 12-month average, led by DigitalBridge Group and IFM Investors’ $11bn private equity deal with Switch, according to GlobalData’s deals database.
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A total of 159 technology industry cross border deals worth $14.6bn were announced for the region in May 2022, against the 12-month average of 236 deals.
Of all the deal types, venture financing saw most activity in May 2022 with 116 transactions, representing a 73% share for the region.
In second place was M&A with 35 deals, followed by private equity deals with eight transactions, respectively capturing a 22.01% and 5.03% share of the overall cross border deal activity for the month.
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In terms of value of cross border deals, private equity was the leading category in North America’s technology industry with $11.01bn, while venture financing and M&A deals totalled $2.96bn and $637.4m, respectively.
North America technology industry cross border deals in May 2022: Top deals
The top five technology cross border deals accounted for 81.9% of the overall value during May 2022.
The combined value of the top five technology cross border deals stood at $11.97bn, against the overall value of $14.6bn recorded for the month.
The top five technology industry cross border deals of May 2022 tracked by GlobalData were:
1) DigitalBridge Group and IFM Investors $11bn private equity deal with Switch
2) The $300m acquisition of Crystal Dynamics,Eidos Montreal and Square Enix Montreal by Embracer Group
3) Andreessen Horowitz,Dragoneer Investment Group,DST Global,Franklin Templeton Investments,G Squared and Mubadala Investment $300m venture financing deal with SpotOn
4) The $200m acquisition of 200 OK by Paddle.com Market
5) GIC $170m venture financing deal with Chainalysis