North America’s technology industry saw a drop of 41.60% in cross border deal activity during October 2022, when compared with the last 12-month average, led by TELUS International’s $1.23bn acquisition of WillowTree, according to GlobalData’s deals database.
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A total of 146 technology industry cross border deals worth $5.7bn were announced for the region in October 2022, against the 12-month average of 250 deals.
Of all the deal types, venture financing saw most activity in October 2022 with 78 transactions, representing a 53.4% share for the region.
In second place was M&A with 53 deals, followed by private equity deals with 15 transactions, respectively capturing a 36.3% and 10.3% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, M&A was the leading category in North America’s technology industry with $2.9bn, while venture financing and private equity deals totalled $1.45bn and $1.32bn, respectively.
North America technology industry cross border deals in October 2022: Top deals
The top five technology cross border deals accounted for 63.3% of the overall value during October 2022.
The combined value of the top five technology cross border deals stood at $3.59bn, against the overall value of $5.7bn recorded for the month.
The top five technology industry cross border deals of October 2022 tracked by GlobalData were:
1) TELUS International’s $1.23bn acquisition deal with WillowTree
2) The $1.1bn merger of Super Apps Holdings Sdn and Technology & Telecommunication Acquisition Corp
3) The Investment Managementof Ontario’s $450m private equity deal with DataBank
4) The $410m private equity of NetSPI by KKRInc
5) KKRInc, RedBird Capital Partners, Tencent Holdings and The Ellison Family’s $400m private equity deal with Skydance Media
Verdict deals analysis methodology
This analysis considers only announced and completed cross border deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.