Although activity was lower in December, the number of European TMT M&A deals in the last quarter of 2013 was the highest since Q2 2006, according to latest data from corporate finance firm, Regent Partners. Total deal value in the month was slightly lower at $15bn, while the average Price/EBITDA multiple increased to 9.3x. The average Price/Sales multiple remained steady at 1.2x.
There were relatively few acquisitions in the UK software and IT services market in December, with Colchester-based business application provider Access Technology Group picking up the pace buying CompeteIT, the largest reseller of the manufacturing software solution FactoryMaster, which Access snapped up in November (see here). Access struck again just recently with the acquisition of Production Modelling Ltd (see here).
Eligible TechMarketView subscription service clients will be able see our 2013 year-end review of the UK software and IT services corporate activity scene later this month in the next edition of IndustryViews Corporate Activity.