The US financial services industry saw a rise of 36.5% in overall deal activity during December 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 157 deals worth $23.12bn were announced in December 2020, compared to the 12-month average of 115 deals.

M&A was the leading category in the month in terms of volume with 117 deals which accounted for 74.5% of all deals.

In second place was venture financing with 29 deals, followed by private equity with 11 transactions, respectively accounting for 18.5% and 7.01% of overall deal activity in the country’s financial services industry during the month.

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In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $22.49bn, followed by private equity totalled $627.85m.

US financial services industry deals in December 2020: Top deals

The top five financial services industry deals accounted for 92.9% of the overall value during December 2020.

The combined value of the top five financial services deals stood at $21.47bn, against the overall value of $23.12bn recorded for the month.

The top five financial services industry deals of December 2020 tracked by GlobalData were:

1) The $9bn merger of Foley Trasimene AcquisitionII and Paysafe Group

2) The $6bn merger of TCF Financial and Huntington Bancshares by

3) Farmers Exchanges and Farmers Group’s $3.94bn acquisition of MetLife Auto & Home Insurance Agency

4) The $1.7bn acquisition of Waddell & Reed Financial by Macquarie Asset Management Holding

5) The merger of Cognical and FinServ Acquisition for $833m.

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.