Full Year 2008 Information Industry Trends

2008 Key Highlights

• The Information Industry’s most active buyers in 2008, based on the number (volume) of announced transactions, were Reed Elsevier plc and IAC/InterActiveCorp, each with 11 businesses purchased either directly or through a partner or affiliate.
• The segment with the largest transaction volume for 2008 was Lifestyle & Entertainment with 292 transactions.
• Financially sponsored transactions represented 196 transactions which equates to 13 percent of the total volume and $23.92 billion of value or 27 percent of the market.

2008 vs. 2007 Key Trends

• Total transaction volume in 2008 decreased by 13 percent over 2007 from 1716 in 2007 to 1485 in 2008.
• Total transaction value in 2008 decreased by 70 percent over 2007, from $289.07 billion in 2007 to $85.92 billion in 2008.
• The segment with largest increase in value in 2008 over 2007 was Health & Pharmaceutics with a 14 percent increase from $7.62 billion in 2007 to $8.68 billion in 2008.

2006-2008 Market Overview

Out of 5115 transactions tracked by Berkery, Noyes between 2006 and 2008 we determined the aggregate enterprise values paid for transactions, where the values of 1802 were disclosed, to be $496.91 billion. Based on known enterprise values, using a logarithmic scale, we project values of 3313 undisclosed transactions to be $115.08 billion for a combined total of $611.99 billion over the past three years.

The largest transaction between 2006 and 2008 was Bain Capital and Thomas H. Lee Partners, L.P. who acquired Clear Channel Communications, Inc. for $23.72 billion.

Berkery, Noyes determined that nearly one-third of companies sold between 2006 and 2008 had an enterprise value between $7 million to $55 million.

The most active buyers in the Information Industry by way of volume between 2006 and 2008 with 37 transactions each were Veronis Suhler Stevenson and Oracle Corporation.