Salesforce.Com’s $27.7bn acquisition of Slack Technologies was the technology industry’s biggest cloud deal of Q4 2020 as cloud deals worth $67.54bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked a decrease of 29.3% over the previous quarter and a rise of 25.6% when compared with the last four-quarter average of $53.76bn.

In terms of number of cloud deals, the sector saw a rise of 1.58% over the last four-quarter average with 967 deals against the average of 952 deals.

In value terms, North America led the activity with cloud deals worth $59.59bn.

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Technology industry cloud deals in Q4 2020: Top deals

The top five technology industry cloud deals accounted for 68.3% of the overall value during Q4 2020.

The combined value of the top five cloud deals stood at $46.1bn, against the overall value of $67.54bn recorded for the quarter.

The top five technology industry cloud deals of Q4 2020 tracked by GlobalData were:

1) Salesforce.Com’s $27.7bn acquisition of Slack Technologies

2) The $10.2bn private equity with RealPage by Thoma Bravo

3) Twilio’s $3.2bn acquisition of

4) The $3bn private equity deal with Endurance International Group by Clearlake Capital Group

5) Merger with Apex Technology Acquisition and AvePoint for $2bn.