Middle East and Africa’s technology industry saw a rise of 12.07% in deal activity during February 2021, when compared with the last 12-month average, led by Francisco Partners Management, Gigi Levy, Gilad Japhet, HP Beteiligungs and Yuval Rakavy’s $600m acquisition of MyHeritage, according to GlobalData’s deals database.

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A total of 65 technology industry deals worth $1.19bn were announced for the region in February 2021, against the 12-month average of 58 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 53 transactions, representing an 81.5% share for the region.

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In second place was M&A with ten deals, followed by private equity deals with two transactions, respectively capturing a 15.4% and 3.1% share of the overall deal activity for the month.

In terms of value of deals, private equity was the leading category in Middle East and Africa’s technology industry with $600m, while venture financing and M&A deals totalled $586.85m and $1.37m, respectively.

Middle East and Africa technology industry deals in February 2021: Top deals

The top five technology deals accounted for 74.9% of the overall value during February 2021.

The combined value of the top five technology deals stood at $890m, against the overall value of $1.19bn recorded for the month.

The top five technology industry deals of February 2021 tracked by GlobalData were:

1) Francisco Partners Management, Gigi Levy, Gilad Japhet, HP Beteiligungs and Yuval Rakavy’s $600m private equity deal with MyHeritage

2) The $120m venture financing deal with Cyesec by 83North Venture Capital and EQT Partners

3) Insight Partners, Israel Growth Partners, Jerusalem Venture Partners and Vintage Investment Partners’ $75m venture financing of Earnix

4) The $65m venture financing of Pliops by Expon Capital, Intel Capital, Koch Disruptive Technologies, NVIDIA, SoftBank Ventures Asia, State of Mind Ventures, Sweetwood Capital, Viola Ventures, Western Digital Capital and Xilinx Technology Ventures

5) Dawn Capital, Hetz Ventures Management, Insight Partners, Red Dot Capital Partners and TLV Partners’ venture financing of Granulate Cloud Solutions for $30m.