1. Deals Analysis
February 22, 2021

US technology industry sees a rise of 1.20% in cross border deal activity in January 2021

By Carmen

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.

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.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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