A total of 91 deals in Australia’s tech sector worth $1.15 billion were announced in Q3 2019, compared to the last four-quarter average of 70 deals, according to the deals database from analyst firm GlobalData.

In terms of value of deals, Mergers & Acquisitions (M&A)  was the leading deal category in Australia’s technology industry with total deals worth $860.69m, while venture financing and private equity deals totalled $259.66m and $34.35m, respectively.

Venture financing was the leading category in the quarter with 48 deals which accounted for 52.7% of all deals.

In second place was mergers & acquisitions (M&A) with 39 deals, followed by private equity with four transactions, respectively accounting for 42.9% and 4.4% of overall deal activity in the country’s technology industry during the quarter.

In terms of value of deals, M&A was the leading deal category in Australia’s technology industry with total deals worth $860.69m, while venture financing and private equity deals totalled $259.66m and $34.35m, respectively.

GlobalData says the top five technology deals accounted for 76% of the overall value during Q3 2019, with the combined value of the top five technology deals at $874m, against the overall value of $1.15bn recorded for the month.

The top five technology industry deals of Q3 2019 tracked by GlobalData were:

• Charter Hall Group’s $474.29m asset transaction with Telstra
• The $172.12m acquisition of GBST by SS&C Technologies Holdings
• Blackbird Ventures, Felicis Ventures, Global Founders Capital, Grok Ventures, HostPlus, Index Ventures (US), Sapphire Ventures, Sequoia Capital China, Skip Capital and TDM Growth Partners’ $82m venture financing of Culture Amp
• The $77.85m acquisition of Dreamscape Networks by Web.com Group
• Uniti Wireless’ acquisition of LBN Co for $67.75m.