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Latest data from Regent showed the usual February dip in European tech M&A activity, though valuation multiples remained reasonably stable. The 210 deals in February 2011 matched those a year prior, but the aggregate consideration ($22b) soared with the inclusion of some substantial telecom acquisitions.
The UK featured a number of interesting deals, including Edinburgh-based buy-and-build infrastructure services play, Lumison’s maiden acquisition of Maidenhead-based data centre co-lo firm, BlueSquare Data (see Lumison goes co-lo with BlueSquare), backed by Bridgepoint. On a much larger scale – and somewhat out of our traditional space – was the acquisition of 65% of the Nasdaq-listed, US digital imaging firm Zoran by FTSE 250 listed, UK-based microchip manufacturer, CSR, for $679m (see CSR merges with Zoran). It’s great to see ‘the shoe on the other foot’, with a globally renowned UK tech player (especially one with a market cap of ‘only’ around $1b) taking the initiative in the US.
