The UK technology industry saw a drop of 13% in overall deal activity during February 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 87 deals worth $455.8m were announced in February 2019, compared to the 12-month average of 100 deals.
Venture financing was the leading category in the month in terms of volume with 49 deals which accounted for 56.3% of all deals.
In second place was M&A with 27 deals, followed by private equity with 11 transactions, respectively accounting for 31.03% and 12.6% 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 $361.99m, while M&A and venture financing deals totalled $50.7m and $43.11m, respectively.
UK technology industry deals in February 2019: Top deals
The top five technology industry deals accounted for 39.4% of the overall value during February 2019.
The combined value of the top five technology industry deals stood at $179.63m, against the overall value of $455.8m recorded for the month. The top announced UK technology industry deal tracked by GlobalData in February 2019 was General Motors’ $102.8m venture financing of Wejo.
In second place was the $20m venture financing of Bud Financial by 9Yards Capital, The Goldman Sachs Group, HSBC, Investec Bank, Lord Fink and Innocells.io and in third place was Allen & Overy, Digital Currency Group, Linklaters, London Stock Exchange Group, MiddleGame Ventures, Orrick, Santander Fintech, Spencer Lake and Transamerica Ventures’ $20m venture financing of Nivaura.
The $20m venture financing of HiLight Semiconductor by Atlantic Bridge Capital, Gary Steele and Shenzhen QianHai DB Investment Management Partnership and Cambridge Innovation Capital’s venture financing of PragmatIC Printing for $16.83m 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.