UK technology industry saw a flat growth in overall cross border deal activity during December 2020, when compared with the last 12-month average, led by Cisco Systems Holdings UK $729.23m acquisition of IMImobile, according to GlobalData’s deals database.
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A total of 46 cross border deals worth $1.86bn were announced in December 2020, compared with the 12-month average of 46 deals.
M&A was the leading category in the month in terms of volume with 24 deals, which accounted for 52.2% of all cross border deals.
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In second place was venture financing with 19 cross border deals, followed by private equity with three transactions, respectively accounting for 41.3% and 6.5% of overall deal activity in the UK technology industry during the month.
In terms of value of cross border deals, M&A was the leading deal category in the UK technology industry with total deals worth $1.32bn, while venture financing and private equity deals totalled $406.07m and $137.69m, respectively.
UK technology industry cross border deals in December 2020: Top deals
The top five technology industry cross border deals accounted for 83.6% of the overall value during December 2020.
The combined value of the top five technology cross border deals stood at $1.56bn, against the overall value of $1.86bn recorded for the month.
The top five technology industry cross border deals of December 2020 tracked by GlobalData were:
1) Cisco Systems Holdings UK $729.23m acquisition of IMImobile
2) The $375m acquisition of Hutch Games by Modern Times Group MTG
3) Baillie Gifford, Draper Esprit, Fidelity International, Ontario Teachers’ Pension Plan and Schroder British Opportunities Trust’s $222m venture financing of Graphcore
4) The $134.3m private equity deal with Exclaimer by Farview Equity Partners, Insight Partners and Livingbridge
5) Byggfakta Group’s acquisition of Glenigan for $97.32m.