Middle East and Africa’s technology industry saw a rise of 14,9% in overall deal activity during Q2 2020, when compared to the four-quarter average, according to GlobalData’s deals database.
A total of 177 deals worth $2,94-billion were announced for the region during Q2 2020, against the last four-quarter average of 154 deals.
Of all the deal types, venture financing saw most activity in Q2 2020 with 134, representing a 75,7% share for the region.
In second place was M&A with 38 deals, followed by private equity deals with five transactions, respectively capturing a 21,5% and 2,8% share of the overall deal activity for the quarter.
In terms of value of deals, M&A was the leading category in Middle East and Africa’s technology industry with $1,99-billion, while venture financing and private equity deals totalled $925,5-million and $27,96-million, respectively.
The top five technology deals accounted for 69,05% of the overall value during Q2 2020.
The combined value of the top five technology deals stood at $2,03-billion, against the overall value of $2,94-billion recorded for the quarter.
The top five technology industry deals of Q2 2020 tracked by GlobalData were:
* Intel’s $900-million acquisition of Moovit App Global;
* The $450-million acquisition of Spotinst by NetApp;
* National Instruments’ $365-million acquisition of OptimalPlus;
* The $170-million acquisition of CyberX by Microsoft; and
* American Express Ventures, Bain Capital Tech Opportunities, CreditEase Israel Innovation Fund, Industry Ventures, Maverick Ventures and OurCrowd’s venture financing of BioCatch for $145-million.