The US technology industry saw a drop of 2.3% in overall deal activity during October 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 556 deals worth $65.03bn were announced in October 2020, compared to the 12-month average of 569 deals.

Venture financing was the leading category in the month in terms of volume with 308 deals which accounted for 55.4% of all deals.

In second place was M&A with 203 deals, followed by private equity with 45 transactions, respectively accounting for 36.5% and 8.1% of overall deal activity in the country’s technology industry during the month.

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In terms of value of deals, M&A was the leading deal category in the US technology industry with total deals worth $55.67bn, while venture financing and private equity deals totalled $5.66bn and $3.7bn, respectively.

US technology industry deals in October 2020: Top deals

The top five technology industry deals accounted for 81.8% of the overall value during October 2020.

The combined value of the top five technology deals stood at $53.19bn, against the overall value of $65.03bn recorded for the month.

The top five technology industry deals of October 2020 tracked by GlobalData were:

1) Advanced Micro Devices’ $35bn acquisition of Xilinx

2) The $10.27bn acquisition of Inphi by Marvell Technology Group

3) Twilio’s $3.2bn acquisition of Segment.io

4) The $2.57bn merger of CC Neuberger Principal Holdings I and E2open

5) I Squared Capital’s private equity deal with GTT Communications for $2.15bn.

Verdict deals analysis methodology

This analysis considers only announced and completed 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.