1st Half 2010 Private Equity, Information Industry Trends

1st Half 2010 Key Highlights

• The largest transaction for First Half 2010 was Warburg Pincus and Silver Lake Partners’ pending acquisition of Interactive Data Corporation, which is majority owned by Pearson plc, for $3.25 billion.
• Lifestyle & Entertainment was the largest segment by transaction volume, with 25 transactions.
• The top 10 deals by transaction value accounted for 69 percent of the total aggregate value.

1st Half 2010 Key Trends

• Total transaction volume increased by 22 percent from 117 in Second Half 2009 to 143 in First Half 2010.
• Total transaction volume increased by 22 percent from 117 in Second Half 2009 to 143 in First Half 2010.
• Financial Services & Accounting saw the largest increase in total transaction value from $313 million in Second Half 2009 to $8.19 billion in First Half 2010.
• The top three acquisitions by value in 1st Half 2010 all orginated within the Financial Services & Accounting segment: the aforementioned acquisition of Interactive Data Corporation, TPG Capital’s announced acquisiton of Vertafore, Inc. for $1.40 billion, and MSCI, Inc.’s announced acquisition of RiskMetrics Group, Inc. for $1.39 billion.

M&A Market Overview

Berkery Noyes tracked 585 financially sponsored transactions between 2008 and June 2010, of which 187 disclosed financial terms, and calculated the aggregate transaction value to be $40.08 billion. Based on known transaction values, we project the value of the 398 undisclosed transactions to be $11.09 billion, totalling $51.18 billion worth of transactions tracked over the past 30 months.

The largest announced transaction tracked by Berkery Noyes between 2008 and 2010 was TPG Capital and CCP Investment Board’s acquisiton of IMS Health, Inc. for $4.01 billion.