NVIDIA’ $40bn acquisition of ARM was the technology industry’s biggest cross border deal of Q3 2020 as cross border deals worth $132.01bn were announced globally in the quarter, according to GlobalData’s deals database.

The value marked an increase of 82.9% over the previous quarter and a rise of 115.3% when compared with the last four-quarter average of $61.31bn.

In terms of number of cross border deals, the sector saw a drop of 4.08% over the last four-quarter average with 1174 deals against the average of 1224 deals.

In value terms, Europe led the activity with cross border deals worth $71.18bn in Q3 2020.

Technology industry cross border deals in Q3 2020: Top deals

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The top five technology industry cross border deals accounted for 54.5% of the overall value during Q3 2020.

The combined value of the top five cross border deals stood at $71.95bn, against the overall value of $132.01bn recorded for the quarter.

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

1) NVIDIA’ $40bn acquisition of ARM

2) The $9.2bn acquisition of eBay Classifieds Group by Adevinta

3) Altice USA’ $8.52bn acquisition of Cogeco and Cogeco Communications

4) The $7.43bn acquisition of Sunrise Communications by Liberty Global

5) Merger of Clarivate Analytics (US) and CPA Global for $6.8bn.