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.