Preqin Sector Series: Blog on ICT

Information and communications technology (ICT) is an increasingly vital engine of the Australian private equity & venture capital industry, as explored in part two of our series with Preqin.

2018 was one of the busiest recent years for private equity fundraising activity in the ICT sector, which has steadily risen in dollar terms since 2015. As seen in the chart below, total funds reached a record high in aggregate capital raised of $1.2bn in 2018, a 20% uptick from 2017.

Deal activity is also strong across the ICT sector. Most of the major buyout and venture capital deals have been for software companies. In total, 17 private equity-backed buyout deals worth an aggregate $1.4bn were announced or completed in 2018. The bulk of this amount came from KKR’s acquisition of an 80.1% majority stake in business software developer MYOB Australia Pty Ltd., for AUD 1.6bn, in December of that year.

 

The full article can be downloaded here.