Professional Documents
Culture Documents
M&A SNAPSHOT
Q3 - 2014
2012
2013
2014
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
364
466
387
327
406
416
494
464
509
63
Consideration
Exchanged
44
70
61
34
33
74
45
41
$18.5
$11.6
$9.7
$billions (b)
$6.1
$7.0
$8.1
$9.6
$9.4
$12.3
Highest consideration
exchanged since Q3 2012
4%
3%
3%
5%
2%
3%
4%
4%
4%
27%
21%
32%
42%
17%
18%
29%
27%
20%
Source: Architect Partners LLC, Capital IQ, company filings and public information
a) M&A exits within Mobile | Internet | Digital Media sectors
b) Core M&A exits are defined as transactions with announced or estimated values between $25 million and $1 billion in consideration, as these typically represent successful business
building endeavors
c) Premium value transactions are defined as greater than 5 times invested equity capital or 5 times the estimated last twelve months revenue (LTM)
M&A BY SECTOR
Q3 - 2014
App
Development
Service
Provider
9%
Commerce
3%
Consumer
Application
19%
16%
3%
7%
9%
Media
7%
Security
18%
3% 7%
Network Hardware
Infrastructure
Analytics
Application
Enterprise
Application
Number of Deals
by Sector
Digital
Marketing
SECTORS
$3,144
$107 $1,814
$2,822
$2,482
Source: Architect Partners LLC, Capital IQ, company filings and public information
Consumer Application
Enterprise Application
Analytics Application
Network Infrastructure
App Development
Security
Commerce
Digital Marketing
Media
Hardware
Service Provider
3
x LTM Revenue
Target | Acquirer
2.5
7.5
10
12.5
15
17.5
20
22.5
25
x Invested Capital
LiveRail | Facebook
41.7x
Source: Architect Partners LLC, Capital IQ, company filings and public information
10
12
14
16
18
20
4
MOST ACTIVE
ACQUIRERS LTM
1.
2.
7 / 30 | $4.8B
drawElements
Gecko Design
Input Factory
Jetpac
Songza Media
Tinker Square
ZYNC
6.
3.
5.
5 / 22 | $300~400mm
1 / 10 | $19.3B
2 / 10 | $1.9B
2 / 9 | $3.2B
Bookpad Techsoft
ClarityRay
Flurry
Luminate
RayV
LiveRail
Novel Projects
Prss B.V.
7.
2 / 9 | $800mm
4.
8.
1 / 7 | $418mm
Crossideas Srl
K.D.K Softwares (India)
Lighthouse Security Group
9.
10.
3 / 7 | $100mm
CardSpring
Madbits
Mitro Labs
2 / 6 | $2.6B
1 / 5 | $650mm
Mojang AB
SyntaxTree SARL
LSI Corporation,
Axxia Networking
Business and
Related Assets
Number of new deals in Q3 / total deals last 4 quarters | total spend last 4 quarters (a)
a) A number of transactions do not disclose acquisition price, so aggregate value of deals over the last twelve months is likely understated.
Source: Architect Partners LLC, Capital IQ, company filings and public information
CORE TRANSACTIONS
Q3 - 2014
BUYER
TARGET
TRANSACTION
VALUE ($MM)
$726
ACI Worldwide
$205
Amazon.com
Twitch Interactive
$970
Beijing WushenCentury
Network Technology Co
$150
Atmel Corporation
Newport Media
$170
AVG
Location Labs
$220
Beijing Join-Cheer
Software
VC-BACKED
x
x
$78
$73
$29
NQ Mobile
$773
Blackbaud
MicroEdge
$160
Changyou.com
Develops and publishes 3D MMORPG games for local gamers. China based.
Develops and sells integrated radio frequency system-on-a-chip
solutions for broadcast communications, wireless connectivity, and
cellular markets. Lake Forest, California - based.
AP M&A
ALERT
Oers several mobile apps that provide parents the ability to monitor
and manage family member mobile phone usage.
Care.com
TARGET DESCRIPTION
Citrus Lane
Mobotap
$45
$91
Mobile | Internet | Digital Media M&A transactions with announced or estimated values between $25 million and $1 billion in consideration
x
x
x
CORE TRANSACTIONS
(CONTINUED)
Q3 - 2014
BUYER
TARGET
TRANSACTION
VALUE ($MM)
Connexions Loyalty
Skymall Ventures
$28
Ericsson
Fabrix Systems
$95
Expedia
$606
LiveRail
$500
$47
Fidelity National
Information Services
Clear2Pay nv/sa
$493
FTD Companies
Provide Commerce
$422
Gemalto NV
SafeNet
$890
Global Payments
$275
Glu Mobile
Cie Games
$100
Cie Games creates online social games. Long Beach, California - based.
$50
Gracenote
Baseline
TARGET DESCRIPTION
Mobile | Internet | Digital Media M&A transactions with announced or estimated values between $25 million and $1 billion in consideration
AP M&A
ALERT
VC-BACKED
10
CORE TRANSACTIONS
(CONTINUED)
Q3 - 2014
BUYER
TARGET
TRANSACTION
VALUE ($MM)
$83
Health Insurance
Innovations
HealthPocket
$34
GDC Technology
$68
Vanzo Communication
$140
TARGET DESCRIPTION
Zhidian3G
$27
Inphi Corporation
Cortina Systems
$120
Intel Corporation
$650
Intercontinental Exchange
SuperDerivatives
$350
InvenSense
Trusted Positioning
$31
InvenSense
Movea SA
$75
Kofax Limited
SOFTPRO GmbH
$35
Mobile | Internet | Digital Media M&A transactions with announced or estimated values between $25 million and $1 billion in consideration
AP M&A
ALERT
VC-BACKED
10
CORE TRANSACTIONS
(CONTINUED)
Q3 - 2014
BUYER
TARGET
TRANSACTION
VALUE ($MM)
LinkedIn Corporation
Bizo
$175
TARGET DESCRIPTION
Millennial Media
Nexage
$88
$48
$46
News Corporation
Move
$934
$210
PetSmart
Pet360
$160
Distributes pet food and pet supplies online to pet parents and
owners. Plymouth Meeting, Pennsylvania - based.
Powerise Information
Technology Co.
$696
PTC
Axeda Corporation
$170
Rakuten
Ebates Performance
Marketing
$1,000
Realogy Group
zipRealty
$166
AP M&A
ALERT
VC-BACKED
Mobile | Internet | Digital Media M&A transactions with announced or estimated values between $25 million and $1 billion in consideration
10
CORE TRANSACTIONS
(CONTINUED)
Q3 - 2014
BUYER
TARGET
TRANSACTION
VALUE ($MM)
TARGET DESCRIPTION
Red Hat
FeedHenry
$82
myugcrights.com
$86
Rocket Fuel
[x+1]
$236
RTL Group SA
SpotXchange
$144
$35
Samsung
SmartThings
$200
ServiceNow
Neebula Systems
$100
Shanghai Zhongji
Investment Holding
DIANDIAN Interacitve
(Beijing) Technology
$960
Shenzhen Xunlei
Networking Technologies
$33
$250
Spirent Communications
$25
Square
Caviar
$100
AP M&A
ALERT
VC-BACKED
Mobile | Internet | Digital Media M&A transactions with announced or estimated values between $25 million and $1 billion in consideration
10
CORE TRANSACTIONS
(CONTINUED)
Q3 - 2014
BUYER
TARGET
TRANSACTION
VALUE ($MM)
Surfilter Network
Technology
$98
Symphony Technology
Group
McGraw-Hill Construction
Information Group
$320
Teleperformance S.A.
$610
TeliaSonera Aktiebolag
(publ)
Tele2 Norge AS
$776
Provides telecommunication services through broadband and VoiceOver-IP services. Oslo, Norway - based.
Mint Management
Technologies Proprietary
Limited
$99
$27
Vocus Communications
FX Networks
$105
$737
Vodafone-Panafon
Hellenic
Telecommunications
Company S.A.
$321
TARGET DESCRIPTION
Mobile | Internet | Digital Media M&A transactions with announced or estimated values between $25 million and $1 billion in consideration
AP M&A
ALERT
VC-BACKED
10
CORE TRANSACTIONS
(CONTINUED)
Q3 - 2014
BUYER
TARGET
TRANSACTION
VALUE ($MM)
Wirecard AG
$34
$91
$200 - 300
Synergy Marketing
TARGET DESCRIPTION
Yahoo!
Flurry
Zhangjiagang Chemical
Machinery
$171
UT Game
$91
$203
$31
Mobile | Internet | Digital Media M&A transactions with announced or estimated values between $25 million and $1 billion in consideration
AP M&A
ALERT
VC-BACKED
10
BUYER
TARGET
TRANSACTION
VALUE ($MM)
Conversant
$2,449
BCE Inc.
Bell Aliant
$3,764
TARGET DESCRIPTION
AP M&A
ALERT
VC-BACKED
Cognizant Technology
Solutions Corporation
TriZetto Corporation
$2,700
Classified Ventures
$1,828
Ingenico S.A.
GlobalCollect BV
$1,119
$2,302
Microsoft Corporation
Mojang AB
$2,500
Orange
Jazztel plc
$5,001
SAP America
Concur Technologies
$8,468
TDC A/S
Get AS
$2,157
M&A transactions with consideration in excess of $1B or with unannounced transaction values
12
(CONTINUED)
Q3 - 2014
BUYER
TRANSACTION
VALUE ($MM)
TARGET DESCRIPTION
AP M&A
ALERT
VC-BACKED
Provides telecommunications services. The company oers fixedtelephony long-distance, broadband, and Internet services. The
company also provides dial-up access and broadband services, such as
email, Web content and hosting, blogs, and photo-blogs. Curitiba,
Brazil - based.
Provides telecommunications services. The company oers fixedtelephony long-distance, broadband, and Internet services. The
company also provides dial-up access and broadband services, such as
email, Web content and hosting, blogs, and photo-blogs. Curitiba,
Brazil - based.
$8,817
$9,222
$2,334
United Internet AG
Versatel AG
$1,244
Zillow, Inc.
Trulia
$3,305
M&A transactions with consideration in excess of $1B or with unannounced transaction values
12