Tuesday, October 09, 2012
Q3 2012 KEY HIGHLIGHTS
The largest transaction through Q3 2012 was Roper Industries, Inc.'s acquisition of Sunquest Information Systems, Inc., a portfolio of Vista Equity Partners, for $1.4 billion.
The most active acquirer year-to-date was IMS Health Incorporated with five transactions, two of which occurred during Q3 2012: TTC LLC and PharmaDeals Ltd.
Q3 2012 KEY TRENDS
Total transaction volume in Q3 2012 decreased by seven percent over Q2 2012, from 96 to 89.
Total transaction value in Q3 2012 fell by seven percent over Q2 2012, from $4.2 billion to $3.9 billion.
MULTIPLES & VALUE TRENDS
The median revenue multiple from 2011 through the 1st 3 Quarters of 2012 increased by 17 percent, from 1.8x to 2.1x.
The median EBITDA multiple from 2011 through the 1st 3 Quarters of 2012 increased by six percent, from 9.9x to 10.5x.
One Equity Partners' acquisition of M*Modal represented a 2.3x revenue multiple and 9.6x EBITDA multiple.
TOP TEN DEALS THROUGH Q3 2012
The top ten deals by value have seen three new additions since our half year report: Roper Industries, Inc.'s acquisition of Sunquest Information Systems, Inc., One Equity Partners' acquisition of M*Modal, and SAIC's acquisition of maxIT Healthcare, LLC.
These three transactions, with an aggregate value of $2.9 billion, represented 26 percent of transaction value in the 1st 3 Quarters of 2012 and 74 percent of Q3 2012 transaction value.