Private Equity M&A activity in the Information Industry experienced a significant half-to-half gain in aggregate value and a
slight half-to-half increase in aggregate volume. Aggregate value increased 8 fold from approximately $2 billion in 1st Half
2009 to approximately $16 billion in 2nd Half 2009. Volumetrically, activity increased by 8.3% from 96 deals in 1st Half 2009
to 104 in 2nd Half 2009.
Year-to-year, the Private Equity exhibited a decline in both aggregate volume and aggregate value of deals. Total transaction
volume declined by 11% from 225 deals in 2008 to 200 in 2009. Aggregate value decreased by 25%, from $22.42 billion in 2008
to $16.78 billion in 2009.
There were three transactions done by a Private Equity buyer in the Information Industry in 2009 that exceeded $2 billion.
TPG Capital and CPP Investment Board’s announced acquisition of IMS Health Incorporated for $4 billion, announced on November
5th; Government of Singapore Investment Corporation and EQT Funds Management Limited’s announced acquisition of Springer
Science & Business Media for $3.4 billion, announced on December 16th; and the acquisition of Skype Technologies by Silver
Lake Partners, Andressen Horowitz, Index Ventures, and CPP Investment Board for $2 billion, which closed on November 19th.
Please note that for evaluating aggregate transaction values, value represents total consideration paid by acquirer. For
multiples Berkery Noyes uses enterprise values (EV) which is an adjusted value that normalizes values where less than 100% of
a company is being acquired or has Net debt.
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