Deal activity by volume related to Internet of Things decreased by 18% year-on-year in 2023 in the power industry 

Analysis of the key themes driving deal activity reveals that Internet of Things accounted for 434 power deals between 2019 and 2023, worth a total value of $52,066m, according to GlobalData’s Deals database covering mergers and acquisitions, private equity, venture financing, equity offerings and partnerships. 

The $2.8bn acquisition of 15% stake in Koninklijke Philips by EXOR in a private equity deal was the largest disclosed deal in 2023, while the $5.2bn acquisition of Vivint Smart Home by NRG Energy was the largest disclosed deal in 2022. 

In volume terms, Internet of Things related deal activity decreased by 18% year-on-year in 2023 and increased by 59% year-on-year in 2022. 

Venture financing accounted for the highest number of deals in the last five years, with 154 deals, followed by Partnership (88 deals), and Acquisition (86 deals).

The top financial advisors supporting deals related to Internet of Things in the power industry in the last five years in terms of value were Goldman Sachs, BofA Securities, J.P. Morgan Securities, Deutsche Bank Securities, and Morgan Stanley.

The top legal advisors supporting deals related to Internet of Things in the power industry in the last five years in terms of value were Simpson Thacher & Bartlett, Sullivan & Cromwell, Weil, Gotshal & Manges, Wilson Sonsini Goodrich & Rosati Professional, and White & Case.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.  

GlobalData’s Deals database provides comprehensive coverage across industries tracking market activity of global mergers & acquisitions, including asset acquisitions/divestments; private equity deals (PE); venture finance deals (VC); equity offerings, including IPOs, follow-on offerings, and private placements; debt offerings, including private placements, ESG bonds and loans; partnerships; and licensing agreements.  

 This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumored deals.