Total Technology industry cloud deals worth $87.5bn were announced globally for May 2022, with the $69bn acquisition of VMware being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 155.9% over the previous month of $34.2bn and a rise of 355.5% when compared with the last 12-month average of $19.21bn.

In terms of number of cloud deals, the sector saw a rise of 3.98% with 340 deals in May 2022 when compared to the last 12-month average of 327 deals.

In value terms, North America led the activity with cloud deals worth $83.37bn in May 2022.

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Technology industry cloud deals in May 2022: Top deals

The top five cloud deals accounted for 93.3% of the overall value during May 2022.

The combined value of the top five cloud deals stood at $81.68bn, against the overall value of $87.5bn recorded for the month.

The top five Technology industry cloud deals of May 2022 tracked by GlobalData were:

1) Broadcom $69bn acquisition deal with VMware

2) The $11bn private equity of Switch by DigitalBridge Group and IFM Investors

3) OMERS Infrastructure Management $665m private equity deal with TPG Telecom

4) The $610m private equity of Bersama Digital Infrastructure Asia by Macquarie Asia Pacific Infrastructure Fund 3 and PSP INVESTMENTS

5) Eldridge and Norwest Venture Partners $400m venture financing deal with Velocity Global