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BC Tech Companies Close 35+ 'Merger and Acquisition' Deals in 2023: Top 5 Deals Worth $14.4 Billion
Monday, January 15, 2024
Absolute Software announced the completion of its acquisition in 2023 by an affiliate of Crosspoint Capital Partners, LP, a leading private equity investment firm focused on the cybersecurity, privacy and infrastructure software markets
Vancouver, BC, January 15, 2024--(T-Net)--BC tech companies have closed over 35 large multi-million dollar merger and acquisition deals in a relatively subdued year in 2023, as reported on by T-Net.
The top 5 transactions in BC this year were valued at a collective $14.4 billion, or an average of approximately $2.9 billion each.
There were numerous M&A transactions reported in 2023 with transaction values over $10 million each (either BC tech companies being acquired, or themselves acquiring other companies), and well over 30 multi-million dollar M&A transactions in total for the year.
There were also a number of other 'potentially large' mergers or acquisitions that we have not included in the above totals, simply because the amount of the transactions have not been reported publicly (but we presume them to be potentially large based on the companies involved).
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Examples of these would be NetEase Games acquisition of Halo Infinite Co-Developer SkyBox Labs, and ActiveState's acquisition by Private Equity Firm Vertu Capital (see details below)
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Here are the Top 5 BC Tech Industry Mergers and Acquisitions completed in 2023 as reported on by T-Net over the past 12 months (that have publicly disclosed dollar amounts):
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M&A Amount: $7 Billion Burnaby, BC, March 21, 2023--Ritchie Bros. Auctioneers announced that it has completed its acquisition of IAA, Inc. As previously announced, under the terms of the amended merger agreement, IAA shareholders will receive $12.80 per share in cash and 0.5252 common shares of Ritchie Bros. for each share of IAA common stock they own. |
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M&A Amount: $4.7 Billion CAD ($3.5 Billion USD) |
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Vanouver, BC, June 13, 2023--Chinook Therapeutics, Inc., a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, announced that it has entered into an agreement and plan of merger with Novartis AG pursuant to which Novartis will acquire Chinook for $40 per share in cash, or a total of $4.7 billion (US $3.2 billion). |
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Snapshot | Profile | News (8) | Follow
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Editor's Note: If we have missed anyone in this list, please email us at technews@bctechnology.com and we will update. ----------------------------------------------------------------------------- Other notable 'M&A deals' completed in 2023 (without dollar amounts reported publicly) include the following:
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Note: If you would like to receive a custom report of all of the Top M&A transactions completed by BC Tech Companies in 2023 (ranked by size of M&A amounts completed, and with substantial details on each transaction), and/or subscribe to T-Net's private automated 'BC Tech Acquisitions Alert' paid service (receive real time daily alerts by text or email), please contact us .
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Disclaimer: News and information regarding mergers and acquisitions and companies on T-Net is subject to continual change without notice and possible errors and/or omissions. Information within this news release regarding recent M&A activity in BC is of a general nature intended only for informal informational purposes, and such information should not be relied upon under any circumstances.
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