Total technology industry artificial intelligence M&A deals worth $1.7bn were announced globally in October 2022, led by TELUS International’s $1.23bn acquisition of WillowTree, according to GlobalData’s deals database.

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The value marked an increase of 2017.7% over the previous month of $81.22m and a drop of 8.02% when compared with the last 12-month average, which stood at $1.87bn.

Comparing artificial intelligence M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $1.46bn. At the country level, the US topped the list in terms of deal value at $1.46bn.

In terms of volumes, North America emerged as the top region for technology industry artificial intelligence M&A deals globally, followed by Europe and then Asia-Pacific.

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The top country in terms of artificial intelligence M&A deals activity in October 2022 was the US with 29 deals, followed by the UK with six and Canada with four.

In 2022, as of October, technology artificial intelligence M&A deals worth $16.97bn were announced globally, marking an increase of 64.6% year on year.

technology industry artificial intelligence M&A deals in October 2022: Top deals

The top five artificial intelligence M&A deals accounted for 99.5% of the overall value during October 2022.

The combined value of the top five technology artificial intelligence M&A deals stood at $1.71bn, against the overall value of $1.7bn recorded for the month.

The top five technology industry artificial intelligence M&A deals of October 2022 tracked by GlobalData were:

1) TELUS International’s $1.23bn acquisition deal with WillowTree

2) The $240m acquisition of Banias Labs by Alphawave IP Group

3) The $220m merger deal with CF AcquisitionVIII and XBP Europe

4) The $15.8m acquisition of 20.77% stake in Konan Technology by SK Telecom

5) VerseBooks’s $10m acquisition deal with BrainRap Artificial Intelligence