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.
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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.