UK financial services industry saw a drop of 39.47% in overall deal activity during July 2022, when compared with the last 12-month average, led by Kingdom Holding’s $268.66m acquisition of M&G, according to GlobalData’s deals database.

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A total of 23 deals worth $539.2m were announced in July 2022, compared with the 12-month average of 38 deals.

M&A was the leading category in the month in terms of volume with ten deals, which accounted for 43.5% of all deals.

In second place was venture financing with eight deals, followed by private equity with five transactions, respectively accounting for 34.8% and 21.7% 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 $275.51m, while venture financing and private equity deals totalled $138m and $125.7m, respectively.

UK financial services industry deals in July 2022: Top deals

The top five financial services industry deals accounted for 96.6% of the overall value during July 2022.

The combined value of the top five financial services deals stood at $520.64m, against the overall value of $539.2m recorded for the month.

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

1) Kingdom Holding $268.66m acquisition deal with M&G

2) The $120.89m private equity of Cooper Parry by Waterland Private Equity Investments

3) Anthemis Group,Creandum,Daiichi,Eurazeo,Latitude – UK,LocalGlobe,MMC Ventures,Notion Capital,OurCrowd and Target Global $120m venture financing deal with yu life

4) The $5.69m venture financing of Konsileo by ACF Investors and Committed Capital

5) Begbies Traynor Group $5.4m acquisition deal with Axiom Consulting & Investments and Ellayaan