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Trend Reports

2014 Mid Year

 
 

2014 l 1st Half l Trends Report l Financial Technology and Information Industry

Monday, July 14, 2014

1ST HALF 2014 KEY HIGHLIGHTS

  • The most active acquirers in 1st Half 2014 were MasterCard Incorporated, Rubik Financial Limited, and Charge Payment, LLC with three transactions each.
  • The highest value transaction year-to-date was Bain Capital, Advent International, and ATP Private Equity Partners' acquisition of Nets Holding A/S, a provider of payments, information, and digital identity solutions, for $3.14 billion. Advent International was also involved in the industry's second largest deal through its backing of Vantiv, which acquired Mercury Payment Systems for $1.65 billion.
  • The industry's most active market segment in 1st Half 2014 was Payments with 56 deals.

1ST HALF 2014 KEY TRENDS

  • Total transaction volume in 1st Half 2014 decreased by 11 percent over 2nd Half 2013, from 187 to 166.
  • Total transaction value in 1st Half 2014 fell by 27 percent over 2nd Half 2013, from $15.15 billion to $11.07 billion.
  • The median revenue multiple increased from 2.5x in 2nd Half 2013 to 3.5x in 1st Half 2014. The median EBITDA multiple remained nearly constant at 15.5x.

M&A Market Overview

Berkery Noyes tracked 819 Financial Technology and Information transactions between 2012 and 1st Half 2014, of which 239 disclosed financial terms, and calculated the aggregate transaction value to be $60.76 billion. Based on known transaction values, we project values of 580 undisclosed transactions to be $6.29 billion, totaling $67.04 billion worth of transactions tracked over the past two and a half years.

Disclosed median enterprise value multiples for all segments combined in this report between 2012 and 1st Half 2014 were 2.9x revenue and 12.0x EBITDA.

The most active acquirer in the Banking segment over the last 30 months was NCR Corporation with four transactions.



 

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Transaction Volume/Value & Multiples

Transactional Analysis

Strategic vs. Financial Comparison

Purchaser Analysis

Transaction By Volume Segment

Footnotes