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Thursday, 14 November 2019 12:14

Tech industry deals rise to hit $1.5 billion in value Featured

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Tech industry deals rise to hit $1.5 billion in value Image IndypendenZ, FreeDigitalPhotos.net

Australia’s technology industry saw a rise of 30% in overall deal activity during the third quarter of 2019, when compared with the last four-quarter average, according to a new analyst report.

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.

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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