Total Technology industry future of work deals worth $69.6bn 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 8587.5% over the previous month of $801.27m and a rise of 2124% when compared with the last 12-month average of $3.13bn.

In terms of number of future of work deals, the sector saw a drop of 43.08% with 37 deals in May 2022 when compared to the last 12-month average of 65 deals.

In value terms, North America led the activity with future of work deals worth $69.44bn in May 2022.

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Technology industry future of work deals in May 2022: Top deals

The top five future of work deals accounted for 99.5% of the overall value during May 2022.

The combined value of the top five future of work deals stood at $69.29bn, against the overall value of $69.6bn recorded for the month.

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

1) Broadcom $69bn acquisition deal with VMware

2) The $110m venture financing of GreyOrange by BlackRock and Mithril Capital Management

3) Equinor Ventures,Evergy Ventures,Huron River Ventures,NextEra Energy Resources,Statkraft Ventures,The Goldman Sachs Group and UL Ventures $80m venture financing deal with SkySpecs

4) The $51m venture financing of Assembled by Basis Set Ventures,Emergence Capital and New Enterprise Associates

5) B Capital Group,BMO Capital Markets,Covalent Ventures,Gaingels,iNovia Capital,Moxxie Ventures,Scribble Ventures,Telstra Ventures and Tribe Capital $50m venture financing deal with Certn Holdings