Dear Clients & Friends,
Below is a link to our September 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 multiple transactions announced with the vast majority of transactions again well under $200M. We continue to see strategics and financial sponsors willing to pay reasonable values for technology-based firms that show scale, growth and a prominent position in the marketplace.
Some notable recent deals include:
- IBM (NYSE:IBM) agreed to acquire Kenexa (NYSE:KNXA) for $1.3Bn;
- Thoma Bravo agreed to acquire Deltek for $892M;
- Verisk Analytics (NYSE:VRSK) agreed to acquire Argus Information & Advisory Services for $425M;
- Global Payments (NYSE:GPN) agreed to acquire accelerated Payment Technologies for $413M;
- Knight Capital Group (NYSE:KCG) announced a $400M recapitalization in response to $440M Trading Loss;
- Trimble Navigation agreed to acquire TMW Systems for $335M;
- Exponent Private Equity acquired Fintrax Group Holdings for €170M ($214M);
- TransCentra agreed to acquire BancTec for $154M; and
- Fair Isaac (NYSE:FICO) agreed to acquire Adeptra for $115M.
The Healthcare IT space continues to see robust activity from sponsors this month. Insight Venture Partners’ investment in the Brazilian healthcare IT Company, MV Sistemas, demonstrated the continued trend in healthcare investments outside of the US. Sequoia Capital and Qualcomm invested $25.5M in Telcare, a remote patient monitoring company in Maryland. Meanwhile, Welsh Carson-backed Matrix Medical Network acquired Ascender, a clinical reporting and management company.
We hope you will find this month’s newsletter useful. We are always available to answer questions.