Sweden’s technology industry saw a rise of 9.5% in overall deal activity during Q2 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 69 deals worth $2.17bn were announced in Q2 2019, compared to the last four-quarter average of 63 deals.

Venture financing was the leading category in the quarter with 36 deals which accounted for 52.2% of all deals.

In second place was M&A with 30 deals, followed by private equity with three transactions, respectively accounting for 43.5% and 4.4% 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 Sweden’s technology industry with total deals worth $1.94bn, while private equity and venture financing deals totalled $118.16m and $116.03m, respectively.

Sweden technology industry deals in Q2 2019: Top deals

The top five technology deals accounted for 96.7% of the overall value during Q2 2019.

The combined value of the top five technology industry deals stood at $2.1bn, against the overall value of $2.17bn recorded for the quarter. The top announced Sweden technology industry deal tracked by GlobalData in Q2 2019 was EQT Infrastructure IV Fund’s $1.94bn private equity deal with IP-Only.

In second place was the $79.29m acquisition of Polystar Osix by Elisa and in third place was Fredrik Wester’s $33.66m venture financing of Mindler.

The $32.35m acquisition of SenseGraphics by Surgical Science Sweden and Swedbank Robur, Third Swedish National Pension Fund (AP3) and Zouk Capital’s venture financing of Readly for $16.8m held fourth and fifth positions, respectively.

Verdict deals analysis methodology

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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.