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Our Transactions

Since inception, Berkery Noyes and affiliates have been involved in more than 500 mergers & acquisitions. Below are the most recent transactions advised on by Berkery Noyes or its affiliates. For more specific information, click on the individual tombstones.

All Transactions

Industries

Each industry segment we cover involves surveying the competitive landscape, identifying new avenues for growth, and evaluating the market potential of a business or product. We have unique deal experience, knowledge, and relationships in the following core markets.

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Research

Researching both market trends and the performance results of individual businesses allows us to deliver a level of mergers and acquisitions intelligence that distinguishes us from our competitors.

All Trend Reports

1st Half Online & Mobile Industry Trends

1st Half 2018 Key Highlights

  • The largest deal in 1st Half 2018 was Walmart’s announced acquisition of a majority stake in Flipkart Online Services, an e-commerce marketplace based in India, for $16 billion.
  • Five of the industry’s top ten highest value acquisitions year-to-date occurred in the E-Commerce segment.
  • There were 276 financially sponsored transactions with an aggregate value of $28.65 billion, representing 20 percent of the total volume and 27 percent of the total value, respectively.
  • 1st Half 2018 Key Trends

  • Total transaction volume in 1st Half 2018 declined by one percent over 2nd Half 2017, from 1,394 to 1,377.
  • Total transaction value in 1st Half 2018 more than doubled over 2nd Half 2017, from $50.83 billion to $106.10 billion. Of note, there were four transactions in 1st Half 2018 above the $5 billion threshold, compared to none in all of 2017. There were also 25 deals with disclosed values that reached the $1 billion threshold in 1st Half 2018, as opposed to eight such transactions in 2nd Half 2017.
  • The median revenue multiple saw an uptick from 2.2x in 2nd Half 2017 to 2.4x in 1st Half 2018. The median EBITDA multiple moved downward from 12.1x in 2nd Half 2017 to 10.3x in 1st Half 2018.
  • The segment with the largest increase in volume in 1st Half 2018 over 2nd Half 2017 was E-Content with a 15 percent rise, from 193 to 221 transactions.
  • M&A Market Overview

    Berkery Noyes tracked 7,195 Online & Mobile transactions between 2016 and 1st Half 2018, of which 1,505 disclosed financial terms, and calculated the aggregate transaction value to be $298.37 billion. Based on known transaction values, we project values of 5,690 undisclosed transactions to be $90.61 billion, totaling $388.98 billion worth of transactions tracked over the past two and a half years.

    1st Half
    2018
    Online & Mobile

    1st Half 2018 Media & Marketing Industry Trends

    1st Half 2018 Key Highlights

  • The largest strategic deal in 1st Half 2018 was Informa’s announced takeover bid of UBM for $6.17 billion, which will create the world’s most extensive B2B events group. As a result of the merger, Informa’s shareholders will own 65.5 percent of the enlarged company with UBM’s shareholders owning the rest.
  • There were 122 financially sponsored transactions with an aggregate value of $20.18 billion, representing 15 percent of the total volume and 38 percent of the total value, respectively.
  • 1st Half 2018 Key Trends

  • Total transaction volume in 1st Half 2018 declined by ten percent over 2nd Half 2017, from 892 to 803. Private equity volume increased nine percent whereas strategic volume fell 13 percent.
  • Total transaction value in 1st Half 2018 fell by 55 percent over 2nd Half 2017, from $117.14 billion to $53.11 billion. Of note, two of the industry’s top three largest deals in 2017 occurred during the 2nd Half of the year and accounted for almost one-half of overall 2017 value.
  • Aggregate value in 1st Half 2018 improved nine percent on a year-over-year basis.
  • The median revenue multiple saw an uptick from 1.2x in 2nd Half 2017 to 1.4x in 1st Half 2018. The median EBITDA multiple remained nearly constant during this timeframe at 10.0x.
  • M&A Market Overview

    Berkery Noyes tracked 4,490 Media & Marketing transactions between 2016 and 1st Half 2018, of which 972 disclosed financial terms, and calculated the aggregate transaction value to be $441.12 billion. Based on known transaction values, we project values of 3,518 undisclosed transactions to be $47.93 billion, totaling $489.05 billion worth of transactions tracked over the past two and a half years.

    1st Half
    2018
    Media & Marketing

    1st Half 2018 Software Industry Trends

    1st Half 2018 Key Highlights

  • The largest deal in 1st Half 2018 was private equity firm KKR’s announced acquisition of BMC Software, which offers cloud and IT management solutions to enterprises, for $8.5 billion. Of note, BMC was acquired in 2013 by a private investor group led by Bain Capital and Golden Gate Capital for $6.69 billion.
  • There were 253 financially sponsored transactions with an aggregate value of $31.23 billion, representing 24 percent of the total volume and 37 percent of the total value, respectively.
  • 1st Half 2018 Key Trends

  • Total transaction volume in 1st Half 2018 declined by three percent over 2nd Half 2017, from 1,084 to 1,056.
  • Total transaction value in 1st Half 2018 rose by 46 percent over 2nd Half 2017, from $57.88 billion to $84.43 billion.
  • The median revenue multiple shifted from 2.7x in 2nd Half 2017 to 2.5x in 1st Half 2018. The median EBITDA multiple moved downward during this timeframe, from 13.7x to 11.4x.
  • Both the Business and Infrastructure segments saw notable increases in volume during the half year period. Business volume gained 13 percent, from 201 to 228 transactions. Infrastructure volume rose 11 percent, from 143 to 159  transactions.
  • M&A Market Overview

    Berkery Noyes tracked 5,382 Software transactions between 2016 and 1st Half 2018, of which 1,099 disclosed financial terms, and calculated the aggregate transaction value to be $280.05 billion. Based on known transaction values, we project values of 4,283 undisclosed transactions to be $98.30 billion, totaling $378.35 billion worth of transactions tracked over the past two and a half years.

    1st Half
    2018
    Software