Total technology industry cross border deals worth $30.7bn were announced globally for July 2021, with the $3.7bn acquisition of Tingo Mobile being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 20.3% over the previous month of $38.51bn and a drop of 18.3% when compared with the last 12-month average of $37.58bn.

In terms of number of cross border deals, the sector saw a rise of 32.23% with 677 deals in July 2021 when compared to the last 12-month average of 512 deals.

In value terms, Europe led the activity with cross border deals worth $11.51bn in July 2021.

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technology industry cross border deals in July 2021: Top deals

The top five cross border deals accounted for 36.1% of the overall value during July 2021.

The combined value of the top five cross border deals stood at $11.08bn, against the overall value of $30.7bn recorded for the month.

The top five technology industry cross border deals of July 2021 tracked by GlobalData were:

1) Tingo Mobile $3.7bn acquisition deal with iWebb

2) The $2.74bn private equity of Lumen Technologies by AustralianSuper and Stonepeak Partners

3) Adevinta $2.25bn private equity deal for 10.2% stake with Permira

4) The $1.13bn acquisition of 70% stake in Daily Mail & General Trust by Rothermere Continuation

5) Sumo Group $1.26bn acquisition of 91.25% stake in Sixjoy Hong Kong