Deal activity by value related to cloud technology remains unchanged year-on-year in 2022

Analysis of the key themes driving deal activity reveals that cloud accounted for 74 mining deals between 2018 and 2022, worth a total value of $7,151m, according to GlobalData’s Deals database covering mergers and acquisitions, private equity, venture financing, equity offerings and partnerships. The $14m venture financing issue by Beijing Tage Zhixing Technology was the largest disclosed deal in 2022, while the $15m venture financing by Beijing Tage Zhixing Technology was the largest disclosed deal in 2021. 

In value terms, cloud-related deal activity remained flat year-on-year in 2022, whereas it declined by 85% year-on-year in 2021.

Equity offerings accounted for the highest number of deals in the last five years, with 44 deals, followed by acquisitions (9 deals) and asset transactions and venture financing (6 deals each).

The top financial advisors supporting deals related to cloud in the mining industry in the last five years in terms of value were Barclays Wealth Management, Canadian Imperial Bank of Commerce, M. Klein and Company and Morgan Stanley.

The top legal advisor supporting deals related to cloud in the mining industry in the last five years in terms of value was Norton Rose Fulbright, followed by Borden Ladner Gervais and Carey Olsen.