US technology industry saw a drop of 81.42% in overall cross border deal activity during July 2022, when compared with the last 12-month average, led by Atlas Innovate, Boston Seed Capital, D1 Capital, Eclipse Ventures, Fontinalis Partners, Industry Ventures, Simkins Family Foundation, Standard Investments and Stata Venture Partners’ $355m venture financing of VulcanForms, according to GlobalData’s deals database.

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A total of 34 cross border deals worth $1.2bn were announced in July 2022, compared with the 12-month average of 183 deals.

venture financing was the leading category in the month in terms of volume with 24 deals, which accounted for 70.6% of all cross border deals.

In second place was M&A with ten cross border deals accounting for 29.4% of overall deal activity in the US technology industry during the month.

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In terms of value of cross border deals, venture financing was the leading deal category in the US technology industry with total deals worth $890.39m, followed by M&A deals totalled $255m.

US technology industry cross border deals in July 2022: Top deals

The top five technology industry cross border deals accounted for 78.05% of the overall value during July 2022.

The combined value of the top five technology cross border deals stood at $894m, against the overall value of $1.2bn recorded for the month.

The top five technology industry cross border deals of July 2022 tracked by GlobalData were:

1) Atlas Innovate, Boston Seed Capital, D1 Capital, Eclipse Ventures, Fontinalis Partners, Industry Ventures, Simkins Family Foundation, Standard Investments and Stata Venture Partners $355m venture financing deal with VulcanForms

2) The $239m acquisition of Amobee by Tremor International

3) InfraRed Capital Partners $150m venture financing deal with LiveOak Fiber

4) The $90m venture financing of Halborn by Brevan Howard Capital Management,Castle Island Ventures,Digital Currency Group and Sky Vision Capital

5) Diligent Capital Partners, Educapital, Evli Growth Partners, Hoxton Ventures, Orbit Capital, Owl Ventures, Przemyslaw Gacek and Swisscom Ventures $60m venture financing deal with Preply