Dear Clients and Friends,
Welcome to our May 2013 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 interesting transactions announced, but again, the vast majority of transactions were led by strategics and most were well under $200M.
In the Healthcare IT sector, we saw multiple capital raises as early leaders in the sector seek to expand their platforms. HealthSpot, ShanghaiMed, and WorldOne all closed on sponsor-backed funding rounds this month.
Some notable recent deals include:
- Roper Industries (NYSE:ROP) agreed to acquire Managed Healthcare Associates for $1.0Bn;
- EVERTEC (NYSE:EVTC) generated $505M in an Initial Public Offering;
- Blackhawk Network (NASDAQ:HAWK) generated $230M in an Initial Public Offering;
- ShanghaiMed Healthcare raised $100M from Goldman Sachs and the Government of Singapore’s Investment Corporation;
- Tata Consultancy Services (BSE:532540) agreed to acquire Alti for €75M ($97.5M);
- GAIN Capital (NYSE:GCAP) agreed to acquire Global Futures & Forex for a net price of $28M;
- Software AG (XTRA:SOW) acquired Relational Networks for $25M;
- Fujitsu (TSE:6702) agreed to acquire RunMyProcess for ¥2Bn ($20.2M); and
- Ebix (NASDAQ:EBIX) agreed to acquire Qatarlyst from Qatar Insurance Services.
Marlin & Associates provides investment banking and strategic advice to worldwide sellers and buyers of middle-market technology firms. Our firm is headquartered in New York and has additional offices in San Francisco; Washington, DC; Toronto; and Hong Kong serving companies that provide information and technology products and services to a wide range of segments.
If you would like more information on these transactions or on our sense of the market, please feel free to call or write.
Sincerely,
Kenneth B. Marlin