North America’s financial services industry saw a drop of 0.7% in deal activity during February 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 135 financial services industry deals worth $1.6bn were announced for the region in February 2019, against the 12-month average of 136 deals.
Of all the deal types, M&A saw most activity in February 2019 with 76 transactions, representing a 56.3% share for the region.
In second place was venture financing with 49 deals, followed by private equity deals with ten transactions, respectively capturing a 36.3% and 7.4% share of the overall deal activity for the month.
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By GlobalDataIn terms of value of deals, M&A was the leading category in North America’s financial services industry with $1.05bn, while venture financing and private equity deals totalled $490.48m and $60.2m, respectively.
North America financial services industry deals in February 2019: Top deals
The top five financial services deals accounted for 64.4% of the overall value during February 2019.
The combined value of the top five financial services deals stood at $1.03bn, against the overall value of $1.6bn recorded for the month. The top announced financial services deal tracked by GlobalData in February 2019 was ACI Worldwide’s $750m acquisition of SpeedPay.
In second place was the $100m venture financing of Kraken Bitcoin Exchange by Blockchain Capital, Digital Currency Group and Hummingbird Ventures and in third place was $68.2m merger of Citizens First Bank and German American Bancorp.
The $58m venture financing of CoverHound by Chubb Group Holdings, Aflac Corporate Ventures, Hiscox and MS&AD Insurance Group and United Community Banks’ acquisition of First Madison Bank & Trust for $52m held fourth and fifth positions, respectively.
This analysis considers only announced and completed 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.
