China’s technology industry saw a drop of 5.6% in overall deal activity during May 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 134 deals worth $4.41bn were announced in May 2019, compared to the 12-month average of 142 deals.

Venture financing was the leading category in the month in terms of volume with 113 deals which accounted for 84.3% of all deals.

In second place was M&A with 19 deals, followed by private equity with two transactions, respectively accounting for 14.2% and 1.5% of overall deal activity in the country’s technology industry during the month.

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In terms of value of deals, private equity was the leading deal category in China’s technology industry with total deals worth $2.56bn, while M&A and venture financing deals totalled $1.27bn and $578.68m, respectively.

China technology industry deals in May 2019: Top deals

The top five technology industry deals accounted for 71.6% of the overall value during May 2019.

The combined value of the top five technology industry deals stood at $3.16bn, against the overall value of $4.41bn recorded for the month. The top announced China technology industry deal tracked by GlobalData in May 2019 was JMU’s $771.85m acquisition of Unicorn Investment.

In second place was the $750m venture financing of Megvii Technology by Alibaba Group Holding, Bank of China Group Investment, ICBC Asset Management (Global) Limited and Macquarie Group and in third place was Bain Capital Private Equity’s $570m private equity deal with Beijing Qinhuai Data.

The $547m stake acquisition of Qianxin Technology by China Electronics and Alibaba Group Holding’s acquisition of China TransInfo Technology (formerly Beijing Surekam Technology Co., Ltd.) for $520.33m held fourth and fifth positions, respectively.

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.