Singapore’s technology industry sees a rise of 24.1% in deal activity in Q2 2020
Singapore’s technology industry saw a rise of 24.1% in overall deal activity during Q2 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.
A total of 67 deals worth $462.45m were announced in Q2 2020, compared to the last four-quarter average of 54 deals.
Venture financing was the leading category in the quarter with 52 deals which accounted for 77.6% of all deals.
In second place was M&A with 13 deals, followed by private equity with two transactions, respectively accounting for 19.4% and 3% of overall deal activity in the country’s technology industry during the quarter.
In terms of value of deals, M&A was the leading deal category in Singapore’s technology industry with total deals worth $304.31m, followed by private equity deals totalled $158.13m.
Singapore technology industry deals in Q2 2020: Top deals
The top five technology deals accounted for 72.1% of the overall value during Q2 2020.
The combined value of the top five technology deals stood at $333.48m, against the overall value of $462.45m recorded for the month.
The top five technology industry deals of Q2 2020 tracked by GlobalData were:
- Kingboard Holdings’ $265.07m acquisition of Elec & Eltek International Holdings
- The $26m venture financing of BEAM by AppWorks Ventures, Cherubic Ventures, Hana Ventures, Red Badge Management, RIGHT CLICK, RTP Capital and Sequoia India
- StorHub Holding’s $18.26m asset transaction with International Press Softcom
- The $12.16m acquisition of ESCO by TECHNO HORIZON HOLDINGS
- CapHorn Invest, Cerracap Ventures, Jungle Ventures, MS&AD Ventures and Seeds Capital’s venture financing of Dathena Science for $12m.
GlobalData
