Marlin & Associates has issued our July 2011 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.
Source: Marlin & Associates, Capital IQ and Public sources. All data as of 6/30/11. Transactions are meant to reflect overall industry rather than be a comprehensive list of all transactions.
There were some sizeable transactions in June, including:
- S1 Corporation and Fundtech announce agreement to merge; valued at $700M
- DST Systems acquires Subserveo
- Ericsson acquires Telcordia Technologies for $1.15B
- Fiserv acquires CashEdge for $465M
- Solera Holdings completes acquisition of Explore Information Services for $520M
- Visa acquires Fundamo for $110M
- DG FastChannel acquires MediaMind Technologies for $517M
It is also important to note that for the sectors that we track, valuations have recovered and companies are trading close to or in line with valuations before the economic downturn in 2008.
- Revenue multiples have shown more improvement compared to valuations based on EBITDA.
- Enterprise software & systems companies and healthcare provider systems & services companies have improved significantly since 2008 and are trading at new 5-year “highs”.
- SaaS revenue multiples are also above 2007 levels.
It has been a busy month for us. We advised Subserveo on its sale to DST Systems (noted above). We were also recognized with six “Deal-of-the-Year” awards for advising on recent significant merger-and-acquisition transactions. We are always honored to be recognized for helping technology-enabled firms successfully transact.
Marlin & Associates is an independent boutique financial and strategic advisory firm and investment bank focused on advising owners and managers of U.S. and international companies that provide technology, digital information, and healthcare-related products and services. The firm is based in New York City, with offices in Washington, DC and Toronto, Canada and has been the recipient of numerous awards including “Middle Market Corporate Deal-of-the-Year”; “Middle Market Financing Agent-of-the-Year”; “Middle Market Financial Technology Deal-of-the-Year”; “Middle Market Financial Services Deal-of-the-Year”; “Middle Market Information Technology Deal-of-the-Year”; “Middle Market Professional Services Deal-of-the-Year”; “International Technology Deal-of-the-Year”; “Middle Market Computer and Information Technology Deal-of-the-Year”; “Middle Market Financing Deal-of-the-Year”; and “Middle Market International / Cross-Border Deal-of-the-Year”. In addition Marlin & Associates has twice been named as the “Middle-Market Investment Bank of the Year.”
M&A’s senior members have come together from some of largest and most prestigious global companies. Our professionals include executives with operating backgrounds as well as investment bankers with extensive transactional experience. Together, they have advised on over 200 successfully completed transactions in eleven countries.