1. Deals Analysis
June 20, 2019

UK technology industry sees a rise of 1.9% in deal activity in May 2019

By Carmen

The UK technology industry saw a rise of 1.9% in overall deal activity during May 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 106 deals worth $2.15bn were announced in May 2019, compared to the 12-month average of 104 deals.

Venture financing was the leading category in the month in terms of volume with 54 deals which accounted for 50.9% of all deals.

In second place was M&A with 40 deals, followed by private equity with 12 transactions, respectively accounting for 37.7% and 11.3% 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 $1.92bn, while M&A and venture financing deals totalled $203.24m and $22.89m, respectively.

UK technology industry deals in May 2019: Top deals

The top five technology industry deals accounted for 88% of the overall value during May 2019.

The combined value of the top five technology industry deals stood at $1.89bn, against the overall value of $2.15bn recorded for the month. The top announced UK technology industry deal tracked by GlobalData in May 2019 was Ion Investment Group’s $1.76bn acquisition of Acuris Group.

In second place was the $64.47m acquisition of Microgen Financial Systems by Moscow Bidco and in third place was Battery Ventures, Octopus Ventures, Union Square Ventures and Virgin Group’s $25m venture financing of Sofar Sounds.

The $24m venture financing of Prowler.io by Amadeus Capital Partners, Atlantic Bridge Ventures GP, Cambridge Innovation Capital, Mandatum Life Insurance, Passion Capital, Pearson, RB Capital, Singapore Innovate and Tencent Holdings and Mpac Group’s acquisition of Lambert Automation for $22.74m held fourth and fifth positions, respectively.

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.

 

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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.

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