The UK technology industry saw a drop of 13.2% in overall deal activity during April 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 99 deals worth $732.38m were announced in April 2020, compared to the 12-month average of 114 deals.

Venture financing was the leading category in the month in terms of volume with 70 deals which accounted for 70.7% of all deals.

In second place was M&A with 22 deals, followed by private equity with seven transactions, respectively accounting for 22.2% and 7.1% of overall deal activity in the country’s technology industry during the month.

In terms of value of deals, private equity was the leading deal category in the UK technology industry with total deals worth $479.32m, while M&A and venture financing deals totalled $132.11m and $120.95m, respectively.

UK technology industry deals in April 2020: Top deals

The top five technology industry deals accounted for 49.4% of the overall value during April 2020.

The combined value of the top five technology deals stood at $361.65m, against the overall value of $732.38m recorded for the month.

The top five technology industry deals of April 2020 tracked by GlobalData were:

1) MRI Software’s $104.16m acquisition of Castleton Technology

2) The $100m private equity deal with Onfido by TPG Growth

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3) ABN AMRO Ventures, Accel, IQ Capital Partners, Partech, Salesforce Ventures and Warburg Pincus’ $80m venture financing of Privitar

4) The $40m venture financing of Glassbox by Brighton Park Capital, CE Ventures, Gefen Capital, Ibex Investors and Updata Partners

5) Minden Worldwide and Vollin Holdings’ venture financing of Truphone for $37.49m.

Verdict deals analysis methodology

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.

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.