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
Verdict deals analysis methodology
This analysis considers only announced and completed cross border 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.