Salesforce.Com’s $27.7bn acquisition of Slack Technologies was the technology industry’s biggest future of work deal of Q4 2020 as future of work deals worth $36.89bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked an increase of 107.6% over the previous quarter and a rise of 241.3% when compared with the last four-quarter average of $10.81bn.

In terms of number of future of work deals, the sector saw a drop of 52.52% over the last four-quarter average with 160 deals against the average of 337 deals.

In value terms, North America led the activity with future of work deals worth $33.86bn.

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technology industry future of work deals in Q4 2020: Top deals

The top five technology industry future of work deals accounted for 89.01% of the overall value during Q4 2020.

The combined value of the top five future of work deals stood at $32.84bn, against the overall value of $36.89bn recorded for the quarter.

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

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

2) The $1.6bn private equity with Planview by TA Associates Management and TPG Capital

3) ADOBE’s $1.5bn acquisition of Workfront

4) The $1.1bn acquisition of Boston Dynamics by Euisun Chung, Hyundai Glovis, Hyundai Mobis and Hyundai Motor

5) CPE Funds Management’s private equity with Hollysys Automation Technologies for $936.5m.