Asia-Pacific’s financial services industry saw a rise of 20.00% in cross border deal activity during August 2021, when compared with the last 12-month average, led by Square’s $29bn acquisition of Afterpay, according to GlobalData’s deals database.
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A total of 30 financial services industry cross border deals worth $36bn were announced for the region in August 2021, against the 12-month average of 25 deals.
Of all the deal types, venture financing saw most activity in August 2021 with 18 transactions, representing a 60% share for the region.
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By GlobalDataIn second place was M&A with 11 deals, followed by private equity deals with one transactions, respectively capturing a 36.7% and 3.3% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s financial services industry with $34.99bn, while venture financing and private equity deals totalled $990.47m and $32m, respectively.
Asia-Pacific financial services industry cross border deals in August 2021: Top deals
The top five financial services cross border deals accounted for 97.8% of the overall value during August 2021.
The combined value of the top five financial services cross border deals stood at $35.24bn, against the overall value of $36bn recorded for the month.
The top five financial services industry cross border deals of August 2021 tracked by GlobalData were:
1) Square $29bn acquisition deal with Afterpay
2) The $4.7bn acquisition of IndiaIdeas.com by PayU
3) Houlihan Lokey $592.15m acquisition deal with GCA
4) The $575m acquisition of Axa Insurance by HSBC Insurance (Asia-Pacific) Holdings
5) Amplo,Coatue Management,Dragoneer Investment Group,Insight Partners,Ribbit Capital,Sequoia Capital India,Steadfast Capital and Tiger Global Management $370m venture financing deal with BharatPe
