Dear Clients & Friends,
Below is a link to our February 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
This month we saw many small to midsize transactions and few of size – this reinforces our belief that strategics and financial sponsors are showing a willingness to pay reasonable values for complimentary firms that show scale, growth, and proprietary technology, but remain somewhat risk averse when it comes to larger deals. We did see:
- VeriFone Acquired Point International from Nordic Capital for €760 ($996M);
- BMC Software Agreed to Acquire Numara Software for $300M;
- Symantec Acquired LiveOffice for $115M; and
- SAI Global Agreed to Acquire Compliance 360 for $42.3M.
As you will see in the report, most deals were smaller. MedData, a Revenue Cycle Management (RCM) company, purchased MedDirect which provides patient-pay and communication services, while Trizetto expanded their managed care focus with the acquisition of Medical Data Express. Several exchanges entered into transactions to add technical capabilities. And Guidewire raised $115M in its IPO.
Additionally, there was continued strategic activity in Asia-Pacific, where Nomura Research Institute acquired Anshin Software; and Deutsche Borse acquired China Consumer Sentiment Survey, thus highlighting the growing impact of the Asian consumer on business leaders’ outlooks.
We hope you will find this month’s newsletter useful. We are always available to answer questions.