1. Deals Analysis
February 17, 2021

North America’s technology industry saw a rise of 13.46% in cross border deal activity during January 2021

By Carmen

North America’s technology industry saw a rise of 13.46% in cross border deal activity during January 2021, when compared with the last 12-month average, led by Eaton Corporation’s $1.65bn acquisition of Tripp Lite, according to GlobalData’s deals database.

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A total of 118 technology industry cross border deals worth $6.19bn were announced for the region in January 2021, against the 12-month average of 104 deals.

Of all the deal types, M&A saw most activity in January 2021 with 62 transactions, representing a 52.5% share for the region.

In second place was venture financing with 42 deals, followed by private equity deals with 14 transactions, respectively capturing a 35.6% and 11.9% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in North America’s technology industry with $3.27bn, while venture financing and private equity deals totalled $1.56bn and $1.36bn, respectively.

North America technology industry cross border deals in January 2021: Top deals

The top five technology cross border deals accounted for 63.5% of the overall value during January 2021.

The combined value of the top five technology cross border deals stood at $3.93bn, against the overall value of $6.19bn recorded for the month.

The top five technology industry cross border deals of January 2021 tracked by GlobalData were:

1) Eaton Corporation’s $1.65bn acquisition of Tripp Lite

2) The $720m private equity deal with ThoughtWorks by Fidelity Management & Research, GIC, Mubadala Investment and Siemens

3) Naver’s $600m acquisition of WP Technology

4) The $520m venture financing of ROBLOX by Altimeter Capital Management, Dragoneer Investment Group, Investment Group of Santa Barbara and WMG Boost

5) Sangoma Technologies’ acquisition of Star2Star Communications for $437m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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