Wednesday, October 10, 2012
Q3 2012 KEY HIGHLIGHTS
Cielo S.A.'s announced acquisition of Merchant e-Solutions, Inc. was the largest transaction in Q3 2012, with an acquisition price of $670 million.
The segment with the largest increase in volume was Banking, which rose 50 percent during the last three months.
Q3 2012 KEY TRENDS
Total transaction volume in Q3 2012 remained constant over Q2 2012.
Total transaction value in Q3 2012 fell by 55 percent over Q2 2012, from $7.7 billion to $3.5 billion.
MULTIPLES & VALUE TRENDS
The median revenue multiple from 2011 through the 1st 3 Quarters of 2012 stayed the same at 2.5x.
The median EBITDA multiple from 2011 through the 1st 3 Quarters of 2012 decreased by four percent, from 11.5x to 11.0x.
Thomson Reuters' acquisition of FXall represented a 5.0x revenue multiple and 13.1x EBITDA multiple.
TOP TEN DEALS THROUGH Q3 2012
The top ten deals by value have seen four new additions since our half year report: Cielo S.A.'s announced acquisition of Merchant e-Solutions, Inc., Thomson Reuters' acquisition of FXall, Global Payments, Inc's acquisition of Accelerated Payment Technologies, and Verisk Analytics, Inc.'s announced acquisition of Argus Information & Advisory Services, LLC.
These four acquisitions, with an aggregate value of $2.0 billion, represented 13 percent of transaction value in the 1st 3 Quarters of 2012 and 57 percent of Q3 2012 transaction value.