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Middle East and Africa’s tech industry sees a rise of 14.9% in deal activity in Q2 2020

Middle East and Africa’s technology industry saw a rise of 14.9 percent 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 percent 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 percent and 2.8 percent 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.

Middle East and Africa technology industry deals in Q2 2020: Top deals

The top five technology deals accounted for 69.05 percent 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
  • 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.


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