Europe’s technology industry saw a drop of 2.64% in cross border deal activity during August 2021, when compared with the last 12-month average, led by Nitro Bidco and NortonLifeLock’s $9.06bn acquisition of Avast, according to GlobalData’s deals database.

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A total of 221 technology industry cross border deals worth $14.9bn were announced for the region in August 2021, against the 12-month average of 227 deals.

Of all the deal types, M&A saw most activity in August 2021 with 105 transactions, representing a 47.5% share for the region.

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In second place was venture financing with 101 deals, followed by private equity deals with 15 transactions, respectively capturing a 45.7% and 6.8% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Europe’s technology industry with $12.67bn, while venture financing and private equity deals totalled $1.95bn and $275.29m, respectively.

Europe technology industry cross border deals in August 2021: Top deals

The top five technology cross border deals accounted for 75.9% of the overall value during August 2021.

The combined value of the top five technology cross border deals stood at $11.3bn, against the overall value of $14.9bn recorded for the month.

The top five technology industry cross border deals of August 2021 tracked by GlobalData were:

1) Nitro Bidco and NortonLifeLock $9.06bn acquisition deal with Avast

2) The $711.95m venture financing of Bolt Technology by D1 Capital Partners,G Squared,Ghisallo Partners,Naya Ventures,Sequoia Capital Operations and Tekne Capital Management

3) Siemens $651.04m acquisition deal with Sqills

4) The $445m acquisition of S.L and SHOTL TRANSPORTATION by Swvl

5) Northern Data $428.03m acquisition deal with Decentric Europe