Singapore’s technology industry saw a drop of 20% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 48 deals worth $3.77bn were announced in Q3 2019, compared to the last four-quarter average of 60 deals.

Venture financing was the leading category in the quarter with 37 deals which accounted for 77.1% of all deals.

In second place was M&A with nine deals, followed by private equity with two transactions, respectively accounting for 18.8% and 4.2% of overall deal activity in the country’s technology industry during the quarter.

In terms of value of deals, M&A was the leading deal category in Singapore’s technology industry with total deals worth $3.28bn, while venture financing and private equity deals totalled $375.89m and $109.6m, respectively.

Singapore technology industry deals in Q3 2019: Top deals

The top five technology deals accounted for 92.9% of the overall value during Q3 2019.

The combined value of the top five technology deals stood at $3.5bn, against the overall value of $3.77bn recorded for the month.

The top five technology industry deals of Q3 2019 tracked by GlobalData were:

1) Qualcomm’s $3.1bn acquisition of RF360 Holdings Singapore Pte.

2) The $125m acquisition of Wavecell by 8×8

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3) Hopu Investments’ $100m venture financing of Trax Technology Solutions

4) The $96.6m private equity deal with D’Crypt by Temasek Holdings (Private)

5) eGarden Ventures, Gaorong Capital, GSR Ventures Management, Pavilion Capital, Unicorn Venture Partner and Vision Plus Capital’s venture financing of Advance Technology for $80m.

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.

 

Visit our ‘Technology Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the technology industry.