GlobalData’s deals database say that cloud deal activity in Q1 2021 rose by 17.30%, recording 295 deals more than the 251.50 deals in the last four-quarter average. This was strengthened by the US$2.5 billion acquisition of Itiviti.
Cloud deal activity during Q1 2021 soars by 17.30%, led by US$2.5 billion acquisition of Itiviti, compared to the last four-quarter average, according to GlobalData’s deals database.
GlobalData says a total of 295 deals worth US$12.3 billion were sealed for the region during Q1 2021, significantly higher than the last four-quarter average of 251.50 deals.
Of all the deal types, venture financing saw most activity in Q1 2021 with 142 deals, representing a 48.1% share for the region.
It was followed by mergers and acquisitions (M&A) with 117 deals, followed by private equity deals with 36 transactions, respectively capturing a 39.7% and 12.2% share of the overall cloud deal activity for the quarter.
In terms of value of cloud deals, M&A leads Europe’s technology industry with US$7.05 billion while venture financing and private equity deals valued US$2.77 billion and US$2.48 billion, respectively.
Europe technology industry cloud deals in Q1 2021: Top deals
The top five technology cloud deals accounted for a 69.7% share of the overall value during Q1 2021.
The combined value of the top five cloud deals stood at $8.57…