The UK technology industry saw a rise of 4.1% in overall deal activity during Q1 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 306 deals worth $9.87bn were announced in Q1 2019, compared to the last four-quarter average of 294 deals.
Venture financing was the leading category in the quarter with 160 deals which accounted for 52.3% of all deals.
In second place was M&A with 111 deals, followed by private equity with 35 transactions, respectively accounting for 36.3% and 11.4% of overall deal activity in the country’s technology industry during the quarter.
In terms of value of deals, M&A was the leading deal category in the UK technology industry with total deals worth $6.37bn, while private equity and venture financing deals totalled $2.32bn and $1.17bn, respectively.
UK technology industry deals in Q1 2019: Top deals
The top five technology deals accounted for 83.1% of the overall value during Q1 2019.
The combined value of the top five technology industry deals stood at $8.2bn, against the overall value of $9.87bn recorded for the quarter. The top announced UK technology industry deal tracked by GlobalData in Q1 2019 was Triton Bidco’s $5.73bn private equity deal with Inmarsat.
In second place was the $1.25bn venture financing of OneWeb by Government of Rwanda, Grupo Salinas, Qualcomm Technologies and SoftBank Group and in third place was Roper Technologies’ $544.72m acquisition of The Foundry Visionmongers.
The $342.4m acquisition of Dreamscape Horizon by Xiamen Meitu Networks Technology and Basalt Infrastructure Partners II GP’s private equity deal with Manx Telecom for $336.27m 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.