1. Deals Analysis
June 18, 2021

UK technology industry sees a rise of 5.88% in cross border deal activity in May 2021

By Carmen

UK technology industry saw a rise of 5.88% in overall cross border deal activity during May 2021, when compared with the last 12-month average, led by Snap’s $500m acquisition of WaveOptics, according to GlobalData’s deals database.

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A total of 54 cross border deals worth $970.3m were announced in May 2021, compared with the 12-month average of 51 deals.

venture financing was the leading category in the month in terms of volume with 29 deals, which accounted for 53.7% of all cross border deals.

In second place was M&A with 20 cross border deals, followed by private equity with five transactions, respectively accounting for 37.04% and 9.3% 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 $590.56m, followed by venture financing deals totalled $379.71m.

UK technology industry cross border deals in May 2021: Top deals

The top five technology industry cross border deals accounted for 71.4% of the overall value during May 2021.

The combined value of the top five technology cross border deals stood at $693.15m, against the overall value of $970.3m recorded for the month.

The top five technology industry cross border deals of May 2021 tracked by GlobalData were:

1) Snap’s $500m acquisition of WaveOptics

2) The $65m venture financing of CheckRecipient by Accel, Balderton Capital, Latitude Ventures, March Capital Partner, Schroder Adveq Management and Sequoia Capital Operations

3) Dawn Capital, Illuminate Financial Management, LocalGlobe, MMC Ventures and Target Global’s $50m venture financing of Copper Technologies (UK)

4) The $41.95m venture financing deal with Zencargo by Digitalplus and HV Capital Adviser

5) Kronologi Asia’s acquisition of 83.33% stake in Quantum China for $36.2m.

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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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