1. Deals Analysis
October 30, 2020

Singapore’s technology industry sees a flat growth in deal activity in Q3 2020

By Carmen

Singapore’s technology industry saw a flat growth in overall deal activity during Q3 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 57 deals worth $344.89m were announced in Q3 2020, compared to the last four-quarter average of 57 deals.

Venture financing was the leading category in the quarter with 41 deals which accounted for 71.9% of all deals.

In second place was M&A with 14 deals, followed by private equity with two transactions, respectively accounting for 24.6% and 3.5% 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 $172.6m, while private equity and venture financing deals totalled $170.85m and $1.44m, respectively.

Singapore technology industry deals in Q3 2020: Top deals

The top five technology deals accounted for 71.2% of the overall value during Q3 2020.

The combined value of the top five technology deals stood at $245.69m, against the overall value of $344.89m recorded for the month.

The top five technology industry deals of Q3 2020 tracked by GlobalData were:

1) Intuit’s $80m acquisition of TradeGecko

2) The $80m venture financing of Carousell by Mirae Asset-Naver Asia Growth Fund, NAVER and NH Investment & Securities

3) Securitas’ $61.59m asset transaction with Stanley Security

4) The $12.1m venture financing of Anchanto by Asendia Management and MDI Ventures

5) Zignsec’s acquisition of Data Depot Engineering for $12m.

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.

 

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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