North America’s technology industry saw a drop of 66% in cloud deal activity during July 2022, when compared with the last 12-month average, led by Stonepeak Partners’ $2.5bn private equity deal for 29% stake in American Tower, according to GlobalData’s deals database.
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A total of 51 technology industry cloud deals worth $3bn were announced for the region in July 2022, against the 12-month average of 150 deals.
Of all the deal types, venture financing saw most activity in July 2022 with 26 transactions, representing a 51% share for the region.
In second place was M&A with 22 deals, followed by private equity deals with three transactions, respectively capturing a 43.1% and 5.9% share of the overall cloud deal activity for the month.
In terms of value of cloud deals, private equity was the leading category in North America’s technology industry with $2.5bn, followed by venture financing deals totalled $539.3m.
North America technology industry cloud deals in July 2022: Top deals
The top five technology cloud deals accounted for 91.3% of the overall value during July 2022.
The combined value of the top five technology cloud deals stood at $2.78bn, against the overall value of $3bn recorded for the month.
The top five technology industry cloud deals of July 2022 tracked by GlobalData were:
1) Stonepeak Partners $2.5bn private equity deal for 29% stake in American Tower
2) The $75m venture financing of Bishop Fox by Carrick Capital Partners
3) Blank Ventures, Durable Capital Partners, ICONIQ Growth, Madrona Venture Group and Mubadala Capital $75m venture financing deal with Spotnana Technology
4) The $70m venture financing of Swimlane by 3Lines Venture Capital,Activate Capital,Energy Impact Partners and John Vanderzon
5) Morgan Stanley Expansion Capital $55m venture financing deal with Scale Computing
Verdict deals analysis methodology
This analysis considers only announced and completed cloud-deals deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.
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August 30, 2022 at 08:00PM
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North America's technology industry saw a drop of 66.00% in cloud deal activity during July 2022 - Verdict
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