The US financial services industry saw a drop of 9.5% in overall deal activity during August 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 105 deals worth $2.95bn were announced in August 2020, compared to the 12-month average of 116 deals.
M&A was the leading category in the month in terms of volume with 69 deals which accounted for 65.7% of all deals.
In second place was venture financing with 29 deals, followed by private equity with seven transactions, respectively accounting for 27.6% and 6.7% of overall deal activity in the country’s financial services industry during the month.
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By GlobalDataIn terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $1.95bn, while venture financing and private equity deals totalled $994.88m and $4.96m, respectively.
US financial services industry deals in August 2020: Top deals
The top five financial services industry deals accounted for 68% of the overall value during August 2020.
The combined value of the top five financial services deals stood at $2.01bn, against the overall value of $2.95bn recorded for the month.
The top five financial services industry deals of August 2020 tracked by GlobalData were:
1) The merger of FinTech AcquisitionIII and Paya for $1.3bn
2) The $200m venture financing of TruMid Financial by BlackRock, Dragoneer Investment Group, T. Rowe Price Group and TPG Capital
3) D1 Capital Partners’ $200m venture financing of Robinhood Financial
4) The $156m acquisition of Seacoast Commerce Banc Holding by Enterprise Financial Services
5) FTX Trading’s acquisition of Blockfolio for $150m.
Verdict deals analysis methodology
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.
