Total financial services industry deals worth $6bn were announced globally for September 2022, with the $1.3bn merger of Lakeland Bancorp and Provident Financial Services being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked a decrease of 47.5% over the previous month of $11.51bn and a drop of 77.2% when compared with the last 12-month average of $26.46bn.
In terms of number of deals, the sector saw a drop of 24.13% with 283 deals in September 2022 when compared to the last 12-month average of 373 deals.
In value terms, North America led the activity with deals worth $3.69bn in September 2022.
financial services industry deals in September 2022: Top deals
The top five deals accounted for 55.5% of the overall value during September 2022.
The combined value of the top five deals stood at $3.36bn, against the overall value of $6bn recorded for the month.
The top five financial services industry deals of September 2022 tracked by GlobalData were:
1) The $1.3bn merger deal with Lakeland Bancorp and Provident Financial Services
2) The $1.2bn acquisition of FourThought Financial by Focus Financial Partners
3) Acrew Capital, Allianz X, Centerbridge Partners, Gallatin Point Capital, Greycroft Growth and White Mountains Insurance Group’s $315m venture financing deal with Pie Insurance Holdings
4) The $297.62m acquisition of 49% stake in Guillemot Brothers by Tencent Holdings
5) Quam Tonghai’s $244.26m acquisition deal for 66.1% stake in China Tonghai International Financial
