The UK technology industry saw a drop of 6.9% in overall deal activity during March 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 94 deals worth $8.42bn were announced in March 2019, compared to the 12-month average of 101 deals.
Venture financing was the leading category in the month in terms of volume with 46 deals which accounted for 48.9% of all deals.
In second place was M&A with 35 deals, followed by private equity with 13 transactions, respectively accounting for 37.2% and 13.8% of overall deal activity in the country’s technology industry during the month.
In terms of value of deals, M&A was the leading deal category in the UK technology industry with total deals worth $6.21bn, while private equity and venture financing deals totalled $1.65bn and $553.49m, respectively.
UK technology industry deals in March 2019: Top deals
The top five technology industry deals accounted for 94.5% of the overall value during March 2019.
The combined value of the top five technology industry deals stood at $7.96bn, against the overall value of $8.42bn recorded for the month. The top announced UK technology industry deal tracked by GlobalData in March 2019 was Triton Bidco’s $5.73bn private equity deal with Inmarsat.
In second place was the $1.25bn venture financing of OneWeb by Government of Rwanda, Grupo Salinas, Qualcomm Technologies and SoftBank Group and in third place was Roper Technologies’ $544.72m acquisition of The Foundry Visionmongers.
The $336.27m private equity deal with Manx Telecom by Basalt Infrastructure Partners II GP and National Digital Infrastructure Fund’s private equity deal with Toob for $99.02m held fourth and fifth positions, respectively.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
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GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.
Visit our ‘Technology Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the technology industry.