A total of 60 deals were made during the quarter, down from the last four-quarter average of 87 deals.
Australia’s technology industry saw overall deal activity during the second quarter of 2020 drop by 31%, according to GlobalData’s deals database. GlobalData’s findings reveal that a total 60 deals, worth $748 million, were announced during Q2 2020, down from the last four-quarter average of 87 deals. Of the total deals, venture financing was the lead category, accounting for nearly two-thirds with 37 deals. This was followed by mergers and acquisitions with 22 deals and private equity with one. When it came to the value of the deals made during the second quarter, mergers and acquisitions led, with total deals worth nearly $460 million, followed by private equity deals at nearly AU$289 million. GlobalData also highlighted the top five technology industry deals that were tracked during Q2 included Uniti Wireless’ $365 million acquisition of OptiComm; Canva’s $60 million funding round led by Blackbird and Sequoia Capital China, with participation from Bond, Felicis, and General Catalyst; and Iress’ $51 million acquisition of OneVue Holdings.
