US technology industry saw a rise of 38.55% in overall cross border deal activity during February 2021, when compared with the last 12-month average, led by Embracer Group’s $1.37bn acquisition of Gearbox, according to GlobalData’s deals database.
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A total of 115 cross border deals worth $6.58bn were announced in February 2021, compared with the 12-month average of 83 deals.
venture financing was the leading category in the month in terms of volume with 61 deals, which accounted for 53.04% of all cross border deals.
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In second place was M&A with 49 cross border deals, followed by private equity with five transactions, respectively accounting for 42.6% and 4.4% 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 $4.67bn, while venture financing and private equity deals totalled $1.64bn and $275m respectively.
US technology industry cross border deals in February 2021: Top deals
The top five technology industry cross border deals accounted for 65.6% of the overall value during February 2021.
The combined value of the top five technology cross border deals stood at $4.32bn, against the overall value of $6.58bn recorded for the month.
The top five technology industry cross border deals of February 2021 tracked by GlobalData were:
1) Embracer Group’s $1.37bn acquisition of Gearbox
2) The $1.17bn acquisition of SpotX by Magnite
3) Sinch’s $1.14bn acquisition of Inteliquent
4) The $361.42m acquisition deal with Gerber Technology by Lectra
5) Onex Group, Onex Partners V and Silver Lake Partners’ private equity with Weld North Education for $275m.