Total technology industry future of work deals worth $4.79bn were announced globally for February 2021, with the $1bn acquisition of Adjust being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked a decrease of 48% over the previous month of $9.21bn and a drop of 23.6% when compared with the last 12-month average of $6.27bn.
In terms of number of future of work deals, the sector saw a drop of 3.80% with 76 deals in February 2021 when compared to the last 12-month average of 79 deals.
In value terms, North America led the activity with future of work deals worth $3.49bn in February 2021.
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technology industry future of work deals in February 2021: Top deals
The top five future of work deals accounted for 73.1% of the overall value during February 2021.
The combined value of the top five future of work deals stood at $3.5bn, against the overall value of $4.79bn recorded for the month.
The top five technology industry future of work deals of February 2021 tracked by GlobalData were:
1) AppLovin’s $1bn acquisition of Adjust
2) The $1bn acquisition of Innovyze by Autodesk
3) Alkeon Capital, Altimeter Capital Management, Coatue Management, Dragoneer Investment Group, IVP, Sequoia Capital VI and Tiger Global Management’s $750m venture financing of UiPath
4) The $550m private equity deal of Qualtrics International by Silver Lake Partners
5) Bain &Inc, ICONIQ Growth, Madrona Venture Group, OpenView Advisors, Salesforce Ventures, Sapphire Ventures, Shasta Ventures Management and Tiger Global Management’s venture financing deal with Highspot for $200m.