Sweden’s technology industry saw a drop of 10.5% 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 51 deals worth $4.33bn were announced in Q3 2020, compared to the last four-quarter average of 57 deals.

M&A was the leading category in the quarter with 28 deals which accounted for 54.9% of all deals.

In second place was venture financing with 12 deals, followed by private equity with 11 transactions, respectively accounting for 23.5% and 21.6% of overall deal activity in the country’s technology industry during the quarter.

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By GlobalData

In terms of value of deals, M&A was the leading deal category in Sweden’s technology industry with total deals worth $3.98bn, while private equity and venture financing deals totalled $279.61m and $67.07m, respectively.

Sweden technology industry deals in Q3 2020: Top deals

The top five technology deals accounted for 97.6% of the overall value during Q3 2020.

The combined value of the top five technology deals stood at $4.22bn, against the overall value of $4.33bn recorded for the month.

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

1) EQT IX Fund, EQT VIII and TA Associates Management’s $3.39bn private equity deal with IFS

2) The $444.64m private equity deal with HiQ International by Trisall

3) InvestmentArawak’s $170.72m acquisition of Ework Group

4) The $145.35m private equity deal with Securitas by EQT Public Value fund

5) Bredband2 i Skandinavien’s acquisition of A3 Allmanna IT- och telekomaktiebolaget (publ) for $70.68m.

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.