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UKHotViews©

 

Friday 12 January 2018

Sparse month for UK tech M&A

chartAlthough there were fewer European TMT M&A transactions announced in December, there were 21 deals valued at more than $100m including 5 in excess of $1b, according to latest data from rom corporate finance firm Regent Partners. This helped lift the aggregate value to $32b in the month. Valuation multiples remain healthy with the aggregate Price/Sales ratio up from 1.3x in November to 1.4x in December but the Price/EBITDA ratio was down from 10.0x in November to 9.3x.

None of the megadeals involved UK software and IT services companies. Indeed it was a rather quiet month on the home front, with UK deals including First Derivatives’ acquisition of Spain’s Telconomics, and buy-and-build play Castleton Technology buying again, this is time Australia’s Kinetic Information Systems.

There were also a couple  of salvage deals for UK startups, with now US-owned quick-response delivery platform Henchman buying the remnants of failed Jinn (see Henchman provides tonic for flat Jinn), and Chicago-based Victory Park Capital moving from backer to owner of UK-based ‘posh e-pawnbroker’ Borro.

Subscribers to the TechMarketView Foundation Service can read our regular quarterly summaries of corporate activity in the UK software and IT services sector in IndustryViews Corporate Activity, or just search on ‘acquisition’ in the UKHotViews archive.

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Posted by HotViews Editor at '06:00' - Tagged: acquisition  

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