Siemens’ $651.04m acquisition deal with Sqills was the technology industry’s biggest internet of things deal of Q3 2021 as internet of things deals worth $5.2bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked a decrease of 88.9% over the previous quarter and a drop of 90.2% when compared with the last four-quarter average of $52.84bn.

In terms of number of internet of things deals, the sector saw a drop of 27.75% with 205 deals in Q3 2021 against the average of 283.75 deals in the last four-quarters.

In value terms, Asia-Pacific led the activity with internet of things deals worth $2.12bn.

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technology industry internet of things deals in Q3 2021: Top deals

The top five technology industry internet of things deals accounted for 35.5% of the overall value during Q3 2021.

The combined value of the top five internet of things deals stood at $1.83bn, against the overall value of $5.2bn recorded for the quarter.

The top five technology industry internet of things deals of Q3 2021 tracked by GlobalData were:

1) Siemens $651.04m acquisition deal with Sqills

2) The $391m acquisition of Azuga by Bridgestone Americas

3) Zebra Technologies $290m acquisition deal for 95% stake in Fetch Robotics

4) The $285m acquisition of Nortek Security and Control by Melrose Industries and Nice

5) Summit Partners $215m private equity deal with Odoo