2009 Key Highlights

• The largest transaction for 2009 was Cisco Systems, Inc. announced acquisition of Starent Networks for $2.56 billion.
• The segment with the largest transaction volume for 2009 was SaaS/ASP with 191 transactions.
• In 2009, there were 68 financially sponsored transactions with an aggregate value of $4.02 billion. These figures represent 11 percent of the total volume and 16 percent of the total value, respectively.

2009 vs. 2008 Key Trends

• Total transaction volume in 2009 decreased by 12 percent over 2008 from 720 in 2008 to 636 in 2009.
• Total transaction value in 2009 increased by 5 percent over 2008, from $24.68 billion in 2008 to $25.83 billion in 2009.
• The segment with largest increase in value in 2009 over 2008 was E-Marketing & Search with a 86 percent increase from $3.21 billion in 2008 to $5.98 billion in 2009.

2004-2009 Market Overview

Out of 3,777 transactions tracked by Berkery Noyes between 2004 and 2009 we determined the aggregate enterprise values paid for transactions, where the values of 1,350 were disclosed, to be $158.21 billion. Based on known enterprise values, using a logarithmic scale, we project values of 2,427 undisclosed transactions to be $49.20 billion for a combined total of $207.40 billion over the past six years.

The largest transaction tracked by Berkery Noyes between 2004 and 2009 was Microsoft Business Solutions who acquired aQuantive, Inc. for $5.96 billion.

The most active buyer in the Online & Wireless Industry in terms of volume either purchased direct or through partner or affiliated business between 2004 and 2009 with 44 transactions was IAC.