North America’s technology industry saw a drop of 66% in cloud deal activity during July 2022, when compared with the last 12-month average, led by Stonepeak Partners’ $2.5bn private equity deal for 29% stake in American Tower, according to GlobalData’s deals database.
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A total of 51 technology industry cloud deals worth $3bn were announced for the region in July 2022, against the 12-month average of 150 deals.
Of all the deal types, venture financing saw most activity in July 2022 with 26 transactions, representing a 51% share for the region.
In second place was M&A with 22 deals, followed by private equity deals with three transactions, respectively capturing a 43.1% and 5.9% share of the overall cloud deal activity for the month.
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In terms of value of cloud deals, private equity was the leading category in North America’s technology industry with $2.5bn, followed by venture financing deals totalled $539.3m.
North America technology industry cloud deals in July 2022: Top deals
The top five technology cloud deals accounted for 91.3% of the overall value during July 2022.
The combined value of the top five technology cloud deals stood at $2.78bn, against the overall value of $3bn recorded for the month.
The top five technology industry cloud deals of July 2022 tracked by GlobalData were:
1) Stonepeak Partners $2.5bn private equity deal for 29% stake in American Tower
2) The $75m venture financing of Bishop Fox by Carrick Capital Partners
3) Blank Ventures, Durable Capital Partners, ICONIQ Growth, Madrona Venture Group and Mubadala Capital $75m venture financing deal with Spotnana Technology
4) The $70m venture financing of Swimlane by 3Lines Venture Capital,Activate Capital,Energy Impact Partners and John Vanderzon
5) Morgan Stanley Expansion Capital $55m venture financing deal with Scale Computing