Q3 2012 KEY HIGHLIGHTS
The most active acquirer through Q3 2012 was Apax Partners with 10 transactions. Four of these occurred within Q3 2012: Solarsoft Business Systems, RivalEdge, CWIEME Ltd, and ClaimLogic, Inc.
The largest announced transaction in Q3 2012 and year-to-date was The Carlyle Group's acquisition of Getty Images from Hellman & Friedman LLC for $3.3 billion.
Q3 2012 KEY TRENDS
Total transaction volume in Q3 2012 decreased by four percent over Q2 2012, from 119 to 114.
Total transaction value in Q3 2012 increased by 10 percent over Q2 2012, from $11.4 billion to $12.5 billion.
MULTIPLES & VALUE TRENDS
The median revenue multiple from 2011 through the 1st 3 Quarters of 2012 decreased by 28 percent, from 1.8x to 1.3x.
The median EBITDA multiple from 2011 through the 1st 3 Quarters of 2012 increased by eight percent, from 8.8x to 9.5x.
Thoma Bravo, LLC's announced acquisition of Mediware Information System's Inc. represented a 2.4x revenue multiple and 11.4x EBITDA multiple.
TOP TEN DEALS THROUGH Q3 2012
The top ten deals by value have seen five new additions since our half year report: The Carlyle Group's announced acquisition of Getty Images, Hellman & Friedman LLC's announced acquisition of Wood Mackenzie, One Equity Partners' acquisition of M*Modal, Thoma Bravo, LLC's acquisition of Deltek, Inc., and Syniverse Technologies, Inc.'s acquisition of MACH S.à.r.l.
These five transactions, with an aggregate value of $7.1 billion, represented 22 percent of transaction value in the 1st 3 Quarters of 2012 and 57 percent of Q3 2012 transaction value.