The UK technology industry saw a drop of 7.3% in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 101 deals worth $949.21m were announced in February 2020, compared to the 12-month average of 109 deals.

Venture financing was the leading category in the month in terms of volume with 56 deals which accounted for 55.5% of all deals.

In second place was M&A with 31 deals, followed by private equity with 14 transactions, respectively accounting for 30.7% and 13.9% of overall deal activity in the country’s technology industry during the month.

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By GlobalData

In terms of value of deals, M&A was the leading deal category in the UK technology industry with total deals worth $505.86m, while private equity and venture financing deals totalled $226.76m and $216.59m, respectively.

UK technology industry deals in February 2020: Top deals

The top five technology industry deals accounted for 62% of the overall value during February 2020.

The combined value of the top five technology deals stood at $588.13m, against the overall value of $949.21m recorded for the month.

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

1) Intermediate Capital Group’s $193.99m private equity deal with Pageant Media Holdings

2) The $150m venture financing of Graphcore by Ahren Innovation Capital, Amadeus Capital Partners, Atomico Ventures, Baillie Gifford &, Bayerische Motoren Werke, Demis Hassabis, Mayfair Equity Partners, Merian Chrysalis InvestmentLimited, M&G Investments, Microsoft and Sofina

3) Citadel Group’s $134.14m acquisition of Wellbeing Software Group

4) The $70m venture financing of Cera Care by Guinness Asset Management, Kairos, New York Family Office and yabeo Capital

5) Oak HC/FT Partners’ venture financing of Sender for $40m.

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.