Total technology industry cross border M&A deals worth $494.73m were announced in Middle East and Africa Q4 2020, led by $350m merger of Collective Growth and Innoviz Technologies, according to GlobalData’s deals database.
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The value marked an increase of 122.72% over the previous quarter and a drop of 73.3% when compared with the last four-quarter average of $1.85bn.
Middle East and Africa held a 0.43% share of the global technology industry cross border M&A deal value that totalled $115.25bn in Q4 2020. With a 0.39% share and deals worth $444.41m, Israel was the top country in Middle East and Africa’s cross border M&A deal value across technology industry.
In terms of deal activity, Middle East and Africa recorded 23 cross border deals during Q4 2020, marking an increase of 53.33% over the previous quarter and a rise of 15.00% over the last four-quarter average. Israel recorded 11 deals during the quarter.
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Middle East and Africa technology industry cross border M&A deals in Q4 2020: Top deals
The top five technology industry cross border M&A deals accounted for 98.6% of the overall value during Q4 2020.
The combined value of the top five cross border M&A deals stood at $487.73m, against the overall value of $494.73m recorded for the quarter.
The top five technology industry cross border deals of Q4 2020 tracked by GlobalData were:
1) The $350m merger of Collective Growth and Innoviz Technologies
2) The $70m acquisition of Voca.ai by Snap
3) Epiroc Canada’ $31.04m acquisition of MineRP Holdings
4) The $19.27m acquisition of Edge Electronics Trading, Nicolas M. Kyvernitis Electronics Ent and NMK Middle East by Midwich Group
5) Two Shields Investments’ acquisition of BrandShield Ltd- Israel for $17.41m.