UK financial services industry saw a drop of 14.63% in overall deal activity during November 2022, when compared with the last 12-month average, led by Viva China Consumables’ $130.71m acquisition of 49% stake in LionRock Capital Partners QiLe, according to GlobalData’s deals database.

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A total of 35 deals worth $311.1m were announced in November 2022, compared with the 12-month average of 41 deals.

M&A was the leading category in the month in terms of volume with 23 deals, which accounted for 65.7% of all deals.

In second place was venture financing with ten deals, followed by private equity with two transactions, respectively accounting for 28.6% and 5.7% of overall deal activity in the UK technology industry during the month.

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In terms of value of deals, M&A was the leading deal category in the UK financial services industry with total deals worth $237.72m, followed by venture financing deals totalled $73.35m.

UK financial services industry deals in November 2022: Top deals

The top five financial services industry deals accounted for 94.4% of the overall value during November 2022.

The combined value of the top five financial services deals stood at $293.51m, against the overall value of $311.1m recorded for the month.

The top five financial services industry deals of November 2022 tracked by GlobalData were:

1) Viva China Consumables’s $130.71m acquisition deal for 49% stake in LionRock Capital Partners QiLe

2) The $94.35m acquisition of Appreciate Group by PayPoint

3) Abrdn, BitRock Capital, Blockchain Coinvestors, CE Innovation Capital, Keiretsu Capital, Lingfeng Capital, Mathrix, SGH CAPITAL and Tezos Foundation’s $28.5m venture financing deal with Archax

4) The $22.81m venture financing of form3 by Alma I Advisory

5) Companion Fund, DMG ventures, DN Capital, FJ Labs, Helvetia Venture Fund, MTech Capital Management, Picus Capital, Sarona Partners and T-0 Ventures’s $17.14m venture financing deal with Napo