Europe’s technology industry saw a rise of 17.3% in cloud deal activity in Q1 2021

Mergers & Acquisitions | Reports | Technology

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Led by $2.5bn acquisition of Itiviti Group, Europe’s technology industry saw a rise of 17.3% in cloud deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 295 cloud deals worth $12.3bn were announced for the region during Q1 2021, against the last four-quarter average of 251.50 deals.

Of all the deal types, venture financing saw most activity in Q1 2021 with 142 deals, representing a 48.1% share for the region.

In second place was M&A with 117 deals, followed by private equity deals with 36 transactions, respectively capturing a 39.7% and 12.2% share of the overall cloud deal activity for the quarter.

In terms of value of cloud deals, M&A was the leading category in Europe’s technology industry with $7.05bn, while venture financing and private equity deals totalled $2.77bn and $2.48bn, respectively.

Europe technology industry cloud deals in Q1 2021: Top deals

The top five technology cloud deals accounted for a 69.7% share of the overall value during Q1 2021.

The combined value of the top five cloud deals stood at $8.57bn, against the overall value of $12.3bn recorded for the quarter.

The top five technology industry cloud deals of Q1 2021 tracked by GlobalData were:

  • Broadridge Financial Solutions’ $2.5bn acquisition of Itiviti Group
  • The $2.4bn private equity deal with Talend by Thoma Bravo
  • The $1.61bn merger of Ajax I and Cazoo
  • The $1.22bn acquisition deal with Signavio by SAP
  • Bpifrance – Fund Ambition boot Angels F3A, Kima Ventures and Y Combinator’s venture financing with Skypher for $847.69m.

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