Middle East and Africa's financial services industry saw a rise of 78.95% in cross border deal activity in Q2 2021

Nuvei Technologies' $250m acquisition of SimplexCC


Led by $250m acquisition of SimplexCC, Middle East and Africa’s financial services industry saw a rise of 78.95% in cross border deal activity during Q2 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 34 cross border deals worth $708.9m were announced for the region during Q2 2021, against the last four-quarter average of 19.00 deals.

Of all the deal types, M&A saw most activity in Q2 2021 with 17 deals, representing a 50% share for the region.

In second place was venture financing with 13 deals, followed by private equity deals with four transactions, respectively capturing a 38.2% and 11.8% share of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in Middle East and Africa’s financial services industry with $468.12m, while venture financing and private equity deals totalled $155.35m and $85.42m, respectively.

Middle East and Africa financial services industry cross border deals in Q2 2021: Top deals

The top five financial services cross border deals accounted for an 88% share of the overall value during Q2 2021.

The combined value of the top five cross border deals stood at $623.62m, against the overall value of $708.9m recorded for the quarter.

The top five financial services industry cross border deals of Q2 2021 tracked by GlobalData were:

1) Nuvei Technologies’ $250m acquisition of SimplexCC

2) The $138.3m acquisition of 22.8% stake in Saham Assurance by SAN JV (RF)Ltd

3) Checkout. com’s $110m venture financing of Tamara

4) The $75.42m private equity deal with Porter by Adage Capital Management, Bessemer Venture Partners, Salesforce Ventures, Scale Venture Partners, Sequoia Capital US, Third Point Ventures and Tiger Global Management

5) International Finance’s acquisition of Holmarcom Insurance Activities for $49.9m.

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