Led by Marvell Technology Group’s $10.27bn acquisition of Inphi, the US technology industry saw a rise of 24.15% in overall cross border deal activity during Q4 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 293 cross border deals worth $30.97bn were announced in Q4 2020, compared with the last four-quarter average of 236 deals.

venture financing was the leading category in the quarter with 154 cross border deals which accounted for 52.6% of all deals.

In second place was M&A with 124 deals, followed by private equity with 15 transactions, respectively accounting for 42.3% and 5.1% of overall cross border deal activity in the US technology industry during the quarter.

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In terms of value of cross border deals, M&A was the leading deal category in the US technology industry with total deals worth $26.73bn, while venture financing and private equity deals totalled $3.01bn and $1.21bn respectively.

US technology industry cross border deals in Q4 2020: Top deals

The top five technology industry cross border deals accounted for 69.6% of the overall value during Q4 2020.

The combined value of the top five technology cross border deals stood at $21.57bn, against the overall value of $30.97bn recorded for the quarter.

The top five technology industry cross border deals of Q4 2020 tracked by GlobalData were:

1) Marvell Technology Group’s $10.27bn acquisition of Inphi

2) The $4.18bn acquisition of Fanduel by Flutter Entertainment

3) Tencent Music Entertainment Group’s $3.67bn acquisition of Universal Music Group

4) The $2.28bn acquisition deal with Institutional Shareholder Services by Deutsche Borse

5) Funimation Productions’ acquisition of Crunchyroll for $1.18bn.