1. Deals Analysis
February 10, 2021

North America’s technology industry saw a drop of 41.86% in future of work deal activity during December 2020

By Carmen

North America’s technology industry saw a drop of 41.86% in future of work deal activity during December 2020, when compared with the last 12-month average, led by Salesforce.Com’s $27.7bn acquisition of Slack Technologies, according to GlobalData’s deals database.

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A total of 25 technology industry future of work deals worth $29.37bn were announced for the region in December 2020, against the 12-month average of 43 deals.

Of all the deal types, venture financing saw most activity in December 2020 with 15 transactions, representing a 60% share for the region.

In second place was M&A with eight deals, followed by private equity deals with two transactions, respectively capturing a 32% and 8% 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 $28.8bn, followed by venture financing deals totalled $568.03m.

North America technology industry future of work deals in December 2020: Top deals

The top five technology future of work deals accounted for 99.5% of the overall value during December 2020.

The combined value of the top five technology future of work deals stood at $29.23bn, against the overall value of $29.37bn recorded for the month.

The top five technology industry future of work deals of December 2020 tracked by GlobalData were:

1) Salesforce.Com’s $27.7bn acquisition of Slack Technologies

2) The $1.1bn acquisition deal with Boston Dynamics by Euisun Chung, Hyundai Glovis, Hyundai Mobis and Hyundai Motor

3) Dragoneer Investment Group, Drive Capital, General Catalyst Partners, Global Equities, GV Management Co, Sequoia Capital Operations, Silicon Valley Bank, Tiger Global Management and Transformation Capital Partners’ $225.5m venture financing of CrossChx

4) The $100m venture financing of Mango Technologies by Craft Ventures and Georgian Partners

5) Bond Capital Management’s venture financing of Ironclad for $100m.

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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