Tuesday, October 07, 2014
Q3 2014 KEY HIGHLIGHTS
Google Inc. was the most active acquirer in Q3 2014 with seven Online & Mobile transactions: Polar, Zync Render, JetPac Inc, Emu, Directr, drawElements Ltd. and Songza.
The E-Commerce segment's largest transaction in Q3 2014 and year-to-date was Zillow's acquisition of Trulia for $2.9 billion.
There were 242 financially sponsored transactions in the 1st 3 Quarters of 2014, with an aggregate value of $22.5 billion, representing 14 percent of the total volume and 21 percent of the total value, respectively.
Q3 2014 KEY TRENDS
Total transaction volume in Q3 2014 declined by 12 percent over Q2 2014, from 621 to 546.
Total transaction value in Q3 2014 increased by 74 percent over Q2 2014, from $21.3 billion to $37.0 billion.
MULTIPLES & VALUE TRENDS
Both the median revenue and EBITDA multiple moved slightly from 2013 through the 1st 3 Quarters of 2014.
The median revenue multiple saw an uptick from 2.2x to 2.4x, while the median EBITDA multiple decreased from 12.6x to 12.0x.
TOP TEN DEALS THROUGH Q3 2014
The top ten deals by value have seen six new additions since our half year report, three of which occurred in the E-Commerce segment. E-Commerce was also responsible for four of the industry's top ten largest deals year-to-date, making it the most represented segment in the list.
These six transactions, with an aggregate value of $18.2 billion, represented 18 percent of transaction value in the 1st 3 Quarters of 2014 and 49 percent of Q3 2014 transaction value.