1. Deals Analysis
March 18, 2021

North America’s technology industry saw a rise of 33.33% in future of work deal activity during February 2021

By Carmen

North America’s technology industry saw a rise of 33.33% in future of work 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 48 technology industry future of work deals worth $3.49bn were announced for the region in February 2021, against the 12-month average of 36 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 32 transactions, representing a 66.7% share for the region.

In second place was M&A with 11 deals, followed by private equity deals with five transactions, respectively capturing a 22.9% and 10.4% share of the overall future of work deal activity for the month.

In terms of value of future of work deals, venture financing was the leading category in North America’s technology industry with $1.89bn, while M&A and private equity deals totalled $1000m and $596.5m, respectively.

North America technology industry future of work deals in February 2021: Top deals

The top five technology future of work deals accounted for 76.01% of the overall value during February 2021.

The combined value of the top five technology future of work deals stood at $2.65bn, against the overall value of $3.49bn recorded for the month.

The top five technology industry future of work 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) Silver Lake Partners’ $550m private equity deal with Qualtrics International

4) The $200m venture financing of Highspot by Bain &Inc, ICONIQ Growth, Madrona Venture Group, OpenView Advisors, Salesforce Ventures, Sapphire Ventures, Shasta Ventures Management and Tiger Global Management

5) Charles River Ventures, EQT Ventures Fund, SK Networks, SoftBank Vision Fund II and TI Platform Management’s venture financing of Standard Cognition for $150m.

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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