North America’s financial services industry saw a drop of 19.23% in cross border deal activity during August 2022, when compared with the last 12-month average, led by The Toronto-Dominion Bank’s $1.3bn acquisition of Cowen, according to GlobalData’s deals database.
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A total of 21 financial services industry cross border deals worth $1.6bn were announced for the region in August 2022, against the 12-month average of 26 deals.
Of all the deal types, M&A saw most activity in August 2022 with 11 transactions, representing a 52.4% share for the region.
In second place was venture financing with eight deals, followed by private equity deals with two transactions, respectively capturing a 38.1% and 9.5% 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 North America’s financial services industry with $1.4bn, while venture financing and private equity deals totalled $83.5m and $75m, respectively.
North America financial services industry cross border deals in August 2022: Top deals
The top five financial services cross border deals accounted for 98.5% of the overall value during August 2022.
The combined value of the top five financial services cross border deals stood at $1.53bn, against the overall value of $1.6bn recorded for the month.
The top five financial services industry cross border deals of August 2022 tracked by GlobalData were:
1) The Toronto-Dominion Bank $1.3bn acquisition deal with Cowen
2) The $98m acquisition of Integrated Financial Holdings by MVB Financial
3) SoftBank Latin America Fund $75m private equity deal with Grupo Bursatil Mexicano
4) The $40m venture financing of Injective Labs by BH Digital, Eric Chen and Jump Crypto
5) Afore Capital, Josh Buckley, Keith Rabois, Kevin Hartz, The Chainsmokers, The Weeknd and Xfund $20m venture financing deal with Pomelo
