1. Deals Analysis
March 17, 2021

North America’s technology industry saw a rise of 18.45% in artificial intelligence deal activity during February 2021

By Carmen

North America’s technology industry saw a rise of 18.45% in artificial intelligence deal activity during February 2021, when compared with the last 12-month average, led by Autodesk’s $1bn acquisition of Innovyze, according to GlobalData’s deals database.

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A total of 122 technology industry artificial intelligence deals worth $4.46bn were announced for the region in February 2021, against the 12-month average of 103 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 87 transactions, representing a 71.3% share for the region.

In second place was M&A with 29 deals, followed by private equity deals with six transactions, respectively capturing a 23.8% and 4.9% share of the overall artificial intelligence deal activity for the month.

In terms of value of artificial intelligence deals, venture financing was the leading category in North America’s technology industry with $2.96bn, while M&A and private equity deals totalled $1.43bn and $75m, respectively.

North America technology industry artificial intelligence deals in February 2021: Top deals

The top five technology artificial intelligence deals accounted for 57.2% of the overall value during February 2021.

The combined value of the top five technology artificial intelligence deals stood at $2.55bn, against the overall value of $4.46bn recorded for the month.

The top five technology industry artificial intelligence deals of February 2021 tracked by GlobalData were:

1) Autodesk’s $1bn acquisition of Innovyze

2) The $750m venture financing deal with UiPath by Alkeon Capital, Altimeter Capital Management, Coatue Management, Dragoneer Investment Group, IVP, Sequoia Capital VI and Tiger Global Management

3) Sensata Technologies Holding’s $400m acquisition of Xirgo Technologies

4) The $200m venture financing of PlusAI by CPE Capital, Guotai Junan International, Hedosophia, Jinsha River Ventures, Lime Brokerage, Manbang Group, Mayfield Fund, Science Applications International, Sequoia Capital Operations and Wanxiang International Investment

5) Bain &Inc, ICONIQ Growth, Madrona Venture Group, OpenView Advisors, Salesforce Ventures, Sapphire Ventures, Shasta Ventures Management and Tiger Global Management’s venture financing of Highspot for $200m.

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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