The UK technology industry saw a drop of 25.4% in overall deal activity during May 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 85 deals worth $20.56bn were announced in May 2020, compared to the 12-month average of 114 deals.

Venture financing was the leading category in the month in terms of volume with 55 deals which accounted for 64.7% of all deals.

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In second place was M&A with 23 deals, followed by private equity with seven transactions, respectively accounting for 27.1% and 8.2% 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 $19.25bn, while private equity and venture financing deals totalled $1bn and $308.53m, respectively.

UK technology industry deals in May 2020: Top deals

The top five technology industry deals accounted for 98.8% of the overall value during May 2020.

The combined value of the top five technology deals stood at $20.32bn, against the overall value of $20.56bn recorded for the month.

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

1) ‘s $18.82bn merger of O2 Holding and Virgin Media

2) The $1bn private equity deal with Global Technical Realty by KKR &Inc

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3) Keysight Technologies’ $383.39m acquisition of TestPlant Europe

4) The $75m venture financing of Citatrade by ST Global

5) Highland Europe (UK), Invoke Capital, Merian Chrysalis InvestmentLimited, Mission Engine and TTV Capital’s venture financing of Featurespace for $36.93m.

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.