A total of 177 deals worth $2.94bn 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 $1.99bn, while venture financing and private equity deals totalled $925.5m and $27.96m, respectively.
Top deals
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 $2.03bn, against the overall value of $2.94bn recorded for the quarter.
The top five technology industry deals of Q2 2020 tracked by GlobalData were:
- Intel’s $900m acquisition of Moovit App Global
- The $450m acquisition of Spotinst by NetApp
- National Instruments’ $365m acquisition of OptimalPlus
- The $170m 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 $145m.
African Eye Report