Led by US$250mn acquisition of SimplexCC, Middle East and Africa’s financial services industry saw a rise of 78.95% in cross border deal activity during Q2 2021, when compared to the last four-quarter average, according to GlobalData’s deals database
A total of 34 cross border deals worth US$708.9mn were announced for the region during Q2 2021, against the last four-quarter average of 19.00 deals.
In second place was venture financing with 13 deals, followed by private equity deals with four transactions, respectively capturing a 38.2% and 11.8% share of the overall cross border deal activity for the quarter.
In terms of value of cross border deals, M&A was the leading category in Middle East and Africa’s financial services industry with US$468.12mn, while venture financing and private equity deals totalled US$155.35mn and US$85.42mn, respectively.
Middle East and Africa financial services industry cross border deals in Q2 2021
The top five financial services cross border deals accounted for an 88% share of the overall value during Q2 2021.
The combined value of the top five cross border deals stood at US$623.62mn, against the overall value of US$708.9mn recorded for the quarter.
The top five financial services industry cross border deals of Q2 2021 tracked by GlobalData were:
1) Nuvei Technologies’ $250m acquisition of SimplexCC
2) The US$138.3mn acquisition of 22.8% stake in Saham Assurance by SAN JV (RF)Ltd
3) Checkout.com’s US$110mn venture financing of Tamara
4) The US$75.42mn private equity deal with Porter by Adage Capital Management, Bessemer Venture Partners, Salesforce Ventures, Scale Venture Partners, Sequoia Capital US, Third Point Ventures and Tiger Global Management
5) International Finance’s acquisition of Holmarcom Insurance Activities for US$49.9mn.
