1. Deals Analysis
March 17, 2021

North America’s technology industry saw a rise of 6.29% in cloud deal activity during February 2021

By Carmen

North America’s technology industry saw a rise of 6.29% in cloud deal activity during February 2021, when compared with the last 12-month average, led by Alkeon Capital, Amazon Web Services, Andreessen Horowitz, BlackRock, Canada Pension Plan Investment Board, CapitalG Management Co, Coatue Management, Discovery Capital Management, Dragoneer Investment Group, Fidelity Management & ResearchLLC, Founders Circle Capital, Franklin Resources, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital Management, Microsoft, New Enterprise Associates, Octahedron Capital Management, Salesforce Ventures, T. Rowe Price Group, Tiger Global Management and Whale Rock Capital Management’s $1bn acquisition of Databricks, according to GlobalData’s deals database.

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A total of 152 technology industry cloud deals worth $5bn were announced for the region in February 2021, against the 12-month average of 143 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 92 transactions, representing a 60.5% share for the region.

In second place was M&A with 54 deals, followed by private equity deals with six transactions, respectively capturing a 35.5% and 4% share of the overall cloud deal activity for the month.

In terms of value of cloud deals, venture financing was the leading category in North America’s technology industry with $4.24bn, while M&A and private equity deals totalled $715.54m and $46.5m, respectively.

North America technology industry cloud deals in February 2021: Top deals

The top five technology cloud deals accounted for 48.7% of the overall value during February 2021.

The combined value of the top five technology cloud deals stood at $2.44bn, against the overall value of $5bn recorded for the month.

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

1) Alkeon Capital, Amazon Web Services, Andreessen Horowitz, BlackRock, Canada Pension Plan Investment Board, CapitalG Management Co, Coatue Management, Discovery Capital Management, Dragoneer Investment Group, Fidelity Management & ResearchLLC, Founders Circle Capital, Franklin Resources, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital Management, Microsoft, New Enterprise Associates, Octahedron Capital Management, Salesforce Ventures, T. Rowe Price Group, Tiger Global Management and Whale Rock Capital Management’s $1bn venture financing of Databricks

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) Insight Partners’ $270m venture financing of Plume Design

4) The $215m acquisition of mGage by Kaleyra

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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