China’s technology industry saw a rise of 17.9% in overall deal activity during September 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 217 deals worth $5.84bn were announced in September 2020, compared to the 12-month average of 184 deals.

Venture financing was the leading category in the month in terms of volume with 172 deals which accounted for 79.3% of all deals.

In second place was M&A with 34 deals, followed by private equity with 11 transactions, respectively accounting for 15.7% and 5.1% 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 China’s technology industry with total deals worth $2.98bn, while private equity and venture financing deals totalled $1.46bn and $1.4bn, respectively.

China technology industry deals in September 2020: Top deals

The top five technology industry deals accounted for 41% of the overall value during September 2020.

The combined value of the top five technology deals stood at $2.39bn, against the overall value of $5.84bn recorded for the month.

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

1) Investcorp’s $1bn private equity deal with Terminus Technologies

2) The $484.35m acquisition of ZTE Microelectronics TechnologyLimited by Shenzhen Renxing TechnologyLimited

3) Shanghai Bohui Technology’s $413.94m acquisition of Zhongneng Ruitong (Beijing) Technology

4) The $292.54m venture financing of Beijing Eswell Computing Technology by CASH Capital (Beijing) Investment Management, Gaorong Capital, IDG Capital, Legend Capital and Huarong International Financial

5) DCM Capital, H Capital, Innovation Workshop, New Oriental Group and SoftBank Vision Fund’s venture financing of Pea Thinking Technology for $200m.

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.