US technology industry saw a rise of 56.41% in overall cross border deal activity during December 2020, when compared with the last 12-month average, led by Flutter Entertainment’s $4.18bn acquisition of Fanduel, according to GlobalData’s deals database.
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A total of 122 cross border deals worth $13.43bn were announced in December 2020, compared with the 12-month average of 78 deals.
M&A was the leading category in the month in terms of volume with 61 deals, which accounted for 50% of all cross border deals.
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In second place was venture financing with 56 cross border deals, followed by private equity with five transactions, respectively accounting for 45.9% and 4.1% 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 $12.15bn, while venture financing and private equity deals totalled $1.28bn and $8m respectively.
US technology industry cross border deals in December 2020: Top deals
The top five technology industry cross border deals accounted for 78.6% of the overall value during December 2020.
The combined value of the top five technology cross border deals stood at $10.55bn, against the overall value of $13.43bn recorded for the month.
The top five technology industry cross border deals of December 2020 tracked by GlobalData were:
1) Flutter Entertainment’s $4.18bn acquisition of Fanduel
2) The $3.67bn acquisition of Universal Music Group by Tencent Music Entertainment Group
3) Funimation Productions’ $1.18bn acquisition of Crunchyroll
4) The $1.1bn acquisition deal with Boston Dynamics by Euisun Chung, Hyundai Glovis, Hyundai Mobis and Hyundai Motor
5) Lightspeed POS’s acquisition of Upserve for $430m.