Global tech deals hit $131bn in second quarter

Global technology industry deals hit $131 billion in the second quarter of 2020, despite fears that the Coronavirus pandemic could slow growth in the sector.

According to GlobalData’s database, the total value of deals were up 30.6 per cent over the previous quarter and only down 0.8 per cent when compared with the last four-quarter average of $132.1 billion.

In terms of number of deals, the sector saw a drop of 6.8 per cent over the last four-quarter average, with 4,227 deals, against the average of 4,534 deals.

Asia Pacific led the activity on a global scale with deals worth $48.39 billion.

The top five technology deals accounted for 36.8 per cent of the overall value during the second quarter, with the combined value of these top deals standing at $48.16 billion.

The top five technology industry deals of during the second quarter, tracked by GlobalData, were:

The merger of O2 Holding and Virgin Media for $18.82 billion.

The $9.39 billion merger of GCI Liberty by Liberty Broadband Corporation.

General Atlantic Singapore Fund, Internet Opportunity Fund, Jinbo Yao, Ocean Link, Tencent Holdings and Warburg Pincus Asia’s $8.7 billion private equity deal with 58.com.

The $5.7 billion acquisition of Jio Platforms by Facebook.

Cinven Capital Management, KKR, Lorca Telecom Bidco, S.A.U and Providence Equity Partners’ private equity deal with Masmovil Ibercom for $5.55 billion.

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