The US financial services industry saw a drop of 39.7% in overall deal activity during April 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 73 deals worth $2.52bn were announced in April 2020, compared to the 12-month average of 121 deals.
M&A was the leading category in the month in terms of volume with 45 deals which accounted for 61.6% of all deals.
In second place was venture financing with 24 deals, followed by private equity with four transactions, respectively accounting for 32.9% and 5.5% of overall deal activity in the country’s financial services industry during the month.
In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $1.36bn, while venture financing and private equity deals totalled $1.11bn and $45m, respectively.
US financial services industry deals in April 2020: Top deals
The top five financial services industry deals accounted for 80.7% of the overall value during April 2020.
The combined value of the top five financial services deals stood at $2.04bn, against the overall value of $2.52bn recorded for the month.
The top five financial services industry deals of April 2020 tracked by GlobalData were:
1) Social Finance’s $1.2bn acquisition of Galileo Financial Technologies
2) The $600m venture financing of Stripe by Andreessen Horowitz, General Catalyst Partners, GV Management Co and Sequoia Capital Operations
3) Breyer Capital, Goodwater Capital, Greenspring Associates (UK), LendingTree and Union Square Ventures’ $112m venture financing of Stash Financial
4) The $75.35m acquisition of Asta Funding by The Stern Group
5) The Capital Corps’s acquisition of Broadway Financial for $48.8m.
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.