Technology investment bank GP Bullhound has opened a new office in Hong Kong.

The office will strengthen the firm’s presence in Asia.

Data compiled by GP Bullhound shows that Asian acquisitions of European technology businesses nearly doubled between 2014 and 2016, with 49 deals closed in 2016.

GP Bullhound managing partner Hugh Campbell said: “In the light of several successful transactions recently completed with Asian buyers, and the increasing interest from Asian investors in the European technology sector, we are taking the step to open this office in Hong Kong.

“With this new location, and in addition to our San Francisco office, we provide global access to our European clients to help them build and scale billion-dollar technology businesses.”

GP Bullhound has recently closed six transactions with Asian counterparties.

These include the sales of Finnish automotive software company Rightware to Beijing-based Thundersoft for €64m, UK-based computer gaming company Splash Damage to Hong Kong-based Leyou Technologies in a transaction valued up to $160m, London-based Digital Agency The Bio Agency to Tech Mahindra, Danish Digital Agency Designit to Wipro for €85m and Danish wireless audio company Libratone to a China-based investor consortium.

The GP Bullhound office in Hong Kong will be led by director Per Lindtorp and expands GP Bullhound’s global reach, supplementing existing offices in London, San Francisco, Stockholm, Berlin, Manchester and Paris.

The full team is now comprised of over 80 staff worldwide.