Dear Clients and Friends,
Below is a link to our October 2012 Market Update. As you will see, it provides our sense of M&A values, activity and trends for the dozen plus technology, information and healthcare sectors that we follow.
Click here for our Market Update
We continue to see strategics and financial sponsors willing to pay reasonable values for smaller (under $200M) technology-based firms that show scale, growth and a prominent position in the marketplace. We see little appetite for mega deals or for firms that are not growing.
Some notable recent deals include:
- Wright Express (NYSE:WXS), which provides fuel cards and fleet-related payment solutions to businesses and government agencies, agreed to acquire FleetOne for $369M;
- ACI Worldwide (Nasdaq: ACIW) agreed to acquire Distra, which develops payment applications for payment processors, financial institutions and other institutions operating in the payments chain in Australia and the UK, for $48.8M;
- KEYW Holding (Nasdaq:KEYW), which provides security information and event management and data warehousing software solutions, agreed to acquire Sensage for $34.5M;
- IntercontinentalExchange (NYSE:ICE), which offers pricing and risk management solutions, acquired a majority stake in APX-ENDEXl; And also acquired WhenTech, which offers option pricing and risk management solutions to traders, brokers and exchanges;
- Ryan and Company agreed to acquire Thomson Property Tax Services; and
- StoneRiver RegEd, which provides compliance and risk management technology solutions, agreed to acquire the Arkovi Product Line from BMRW & Associates.
In the healthcare sector this month, we saw McKesson quickening its M&A activities by purchasing both MED3000 and MedVentive, bringing their total acquisitions this year to five, while athenahealth made their fourth recent vendor acquisition with Healthcare Data Services.
Marlin & Associates is one of the most active investment banking and strategic advisory firms providing strategic and financial advice to worldwide buyers and sellers of middle-market technology firms. The firm is headquartered in New York, NY and has additional offices in San Francisco, CA; Washington, DC; Toronto, Canada; and Hong Kong, China serving companies that provide information and technology to a wide range of communities including those that serve the banking, capital markets, insurance, marketing and healthcare arenas.
We trust that you will find this month’s newsletter useful. If you would like more information on these transactions or on our sense of the market, please feel free to call or write.