US technology industry saw a rise of 1.20% in overall cross border deal activity during January 2021, when compared with the last 12-month average, led by Eaton Corporation’s $1.65bn acquisition of Tripp Lite, according to GlobalData’s deals database.
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A total of 84 cross border deals worth $5.22bn were announced in January 2021, compared with the 12-month average of 83 deals.
M&A was the leading category in the month in terms of volume with 43 deals, which accounted for 51.2% of all cross border deals.
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In second place was venture financing with 35 cross border deals, followed by private equity with six transactions, respectively accounting for 41.7% and 7.1% of overall deal activity in the US technology industry during the month.
In terms of value of cross border deals, M&A was the leading deal category in the US technology industry with total deals worth $2.67bn, while venture financing and private equity deals totalled $1.41bn and $1.14bn, respectively.
US technology industry cross border deals in January 2021: Top deals
The top five technology industry cross border deals accounted for 69% of the overall value during January 2021.
The combined value of the top five technology cross border deals stood at $3.6bn, against the overall value of $5.22bn recorded for the month.
The top five technology industry cross border deals of January 2021 tracked by GlobalData were:
1) Eaton Corporation’s $1.65bn acquisition of Tripp Lite
2) The $720m private equity deal with ThoughtWorks by Fidelity Management & Research, GIC, Mubadala Investment and Siemens
3) Altimeter Capital Management, Dragoneer Investment Group, Investment Group of Santa Barbara and WMG Boost’s $520m venture financing of ROBLOX
4) The $437m acquisition deal with Star2Star Communications by Sangoma Technologies
5) ClearBridge Investments, Franklin Resources, Leumi Partners, Neuberger Berman, Qatar Investment Authority and Teca Partners’ private equity with Paycor for $270m.