This document provides a summary of private equity deal activity in the information technology industry in Q4 2011. It notes that the IT industry saw 169 deals totaling $20.27 billion for the year so far. While Q3 saw a slowdown, the full year is still on track to be the best since the financial crisis. Private equity investment has been shifting towards established software companies, with the software sector receiving the most deals and capital. The median deal size hit almost $200 million, reflecting a preference for larger, more established middle-market companies.
The document summarizes the 2nd Annual Cyber Security Finance Forum taking place on October 15-16, 2012 in Washington, DC. The forum will bring together industry leaders, advisers, and investors to discuss opportunities and challenges in the cyber security sector. It will include expert panels, company presentations, and networking sessions focused on topics like market trends, government priorities, mergers and acquisitions, and how private companies can work with the government. Attendees will include corporate executives, investors, government officials, and services providers. The event aims to help participants gain access to decision-makers, hear the latest solutions, and build business partnerships. Sponsorship opportunities are available to promote companies and products.
"This thought leadership is a report detailing how Blockchain can be industrialized in ASEAN and how its potential can be unlocked across organizations. The report also clearly illustrates the implications of Blockchain, its key developments, how it impacts countries across ASEAN and a five-point test for assessing the fit of Blockchain for specific processes, all serving to provide meaningful insights into the current state of the FinTech industry in the ASEAN region."
This thought leadership is a report detailing how Blockchain can be industrialized in ASEAN and how its potential can be unlocked across organizations.
The report also clearly illustrates the implications of Blockchain, its key developments, how it impacts countries across ASEAN and a five-point test for assessing the fit of Blockchain for specific processes, all serving to provide meaningful insights into the current state of the FinTech industry in the ASEAN region.
This thought leadership is a report detailing how Blockchain can be industrialized in ASEAN and how its potential can be unlocked across organizations.
The report also clearly illustrates the implications of Blockchain, its key developments, how it impacts countries across ASEAN and a five-point test for assessing the fit of Blockchain for specific processes, all serving to provide meaningful insights into the current state of the FinTech industry in the ASEAN region.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Net lease properties remain an attractive investment for those seeking predictable returns, according to industry leaders. While some question if high investor demand could lead to an overheated market, experts believe the sector will remain stable given targeted acquisition strategies and diverse property types and locations. Leaders from Equity Global Management, Iridium Capital, United Trust Fund and Paragon Real Estate expect continued investor appetite and transaction volume, especially for well-located assets with investment-grade tenants and long-term leases.
Blockchain has many potential applications in HR including:
1. Verifying credentials and skills for recruitment using an immutable blockchain record.
2. Facilitating taxes and audits by easily tracking income, expenses, and payments to automatically calculate taxes.
3. Enhancing fraud prevention by only allowing authorized parties to verify identity information on a permissioned blockchain.
4. Other uses discussed include using smart contracts for benefits and compensation, and creating secure digital identities for job applications and credentials.
Virtual Interactive Working EnvironmentsEdward Lange
The Future of Work arrived!
The WE2VIDEO platform provides interactive multimedia virtual learning environments, which are globally unique permanent, private, secure, and fully customizable immersive digital corridors for interactive broadcasting, multi-party video communication, and real-time face-to-face collaborative learning over the internet.
These virtual environments are specially designed to easily integrate almost anything in a digital format, such as learning management systems, productivity tools, whiteboards, websites, videos, images, documents, social networks, instant messaging platforms, custom forms, video recording, live streaming cameras, chatbots, 360 virtual tours, OTT entertainment platforms, widgets, games, augmented reality, scheduling tools, digital signature and authentication, e-commerce, digital health platforms, IOT, etc., and even all of these together in a single working environment. They are ideal for immersive collaboration and co-creation experiences, among multiple other use cases such as virtual education, teleconsultations, virtual events, etc.
Ahhh! … and they cost less than the daily bus ticket to work.
The document summarizes the 2nd Annual Cyber Security Finance Forum taking place on October 15-16, 2012 in Washington, DC. The forum will bring together industry leaders, advisers, and investors to discuss opportunities and challenges in the cyber security sector. It will include expert panels, company presentations, and networking sessions focused on topics like market trends, government priorities, mergers and acquisitions, and how private companies can work with the government. Attendees will include corporate executives, investors, government officials, and services providers. The event aims to help participants gain access to decision-makers, hear the latest solutions, and build business partnerships. Sponsorship opportunities are available to promote companies and products.
"This thought leadership is a report detailing how Blockchain can be industrialized in ASEAN and how its potential can be unlocked across organizations. The report also clearly illustrates the implications of Blockchain, its key developments, how it impacts countries across ASEAN and a five-point test for assessing the fit of Blockchain for specific processes, all serving to provide meaningful insights into the current state of the FinTech industry in the ASEAN region."
This thought leadership is a report detailing how Blockchain can be industrialized in ASEAN and how its potential can be unlocked across organizations.
The report also clearly illustrates the implications of Blockchain, its key developments, how it impacts countries across ASEAN and a five-point test for assessing the fit of Blockchain for specific processes, all serving to provide meaningful insights into the current state of the FinTech industry in the ASEAN region.
This thought leadership is a report detailing how Blockchain can be industrialized in ASEAN and how its potential can be unlocked across organizations.
The report also clearly illustrates the implications of Blockchain, its key developments, how it impacts countries across ASEAN and a five-point test for assessing the fit of Blockchain for specific processes, all serving to provide meaningful insights into the current state of the FinTech industry in the ASEAN region.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Net lease properties remain an attractive investment for those seeking predictable returns, according to industry leaders. While some question if high investor demand could lead to an overheated market, experts believe the sector will remain stable given targeted acquisition strategies and diverse property types and locations. Leaders from Equity Global Management, Iridium Capital, United Trust Fund and Paragon Real Estate expect continued investor appetite and transaction volume, especially for well-located assets with investment-grade tenants and long-term leases.
Blockchain has many potential applications in HR including:
1. Verifying credentials and skills for recruitment using an immutable blockchain record.
2. Facilitating taxes and audits by easily tracking income, expenses, and payments to automatically calculate taxes.
3. Enhancing fraud prevention by only allowing authorized parties to verify identity information on a permissioned blockchain.
4. Other uses discussed include using smart contracts for benefits and compensation, and creating secure digital identities for job applications and credentials.
Virtual Interactive Working EnvironmentsEdward Lange
The Future of Work arrived!
The WE2VIDEO platform provides interactive multimedia virtual learning environments, which are globally unique permanent, private, secure, and fully customizable immersive digital corridors for interactive broadcasting, multi-party video communication, and real-time face-to-face collaborative learning over the internet.
These virtual environments are specially designed to easily integrate almost anything in a digital format, such as learning management systems, productivity tools, whiteboards, websites, videos, images, documents, social networks, instant messaging platforms, custom forms, video recording, live streaming cameras, chatbots, 360 virtual tours, OTT entertainment platforms, widgets, games, augmented reality, scheduling tools, digital signature and authentication, e-commerce, digital health platforms, IOT, etc., and even all of these together in a single working environment. They are ideal for immersive collaboration and co-creation experiences, among multiple other use cases such as virtual education, teleconsultations, virtual events, etc.
Ahhh! … and they cost less than the daily bus ticket to work.
Blockchain rewires INDUSTRY PERSPECTIVES-2Keith Bear
This document discusses how blockchain technology could impact financial markets according to a survey of 200 financial institutions. It finds that 14% expect to have blockchains in commercial production by 2017, which it calls "Trailblazers". Trailblazers expect blockchains to reduce "invisible threats" from new competitors and business models. They see the greatest benefits in clearing and settlements, wholesale payments, equity/debt issuance, and reference data. While most institutions don't expect major disruption, Trailblazers see opportunities for new business models in clearing/settlements, payments, and equity/debt markets. Regulations may be delaying disruption in some areas.
1) There is a need for a trusted global HR blockchain solution due to current issues with data privacy, management across multiple systems, and inability to utilize new technologies.
2) CET's proposed solution includes a HR blockchain to store employee data privately, an integration platform to connect to existing systems, and an app marketplace to easily install new HR applications.
3) This solution would allow individuals to control their own data, companies to have reliable strategic information, and the HR profession to utilize emerging technologies through a standardized and decentralized system.
Q1 2012 venture capital activity report cb insights final-40kenwood
Venture capital activity in healthcare saw a decline in Q1 2012, with funding hitting a five-quarter low of $1.4 billion across 153 deals. This represented a drop from the strongest quarter of funding over the previous five quarters. California and Massachusetts remained the top states for healthcare deals and funding, combining for 46% of deals and 61% of dollars. Seed deals doubled their share compared to Q4 2011, though overall early-stage funding dipped as Series A deals declined. Medical devices, pharmaceuticals, and biotechnology dominated deal activity.
The document analyzes trends in mergers and acquisitions (M&As) and initial public offerings (IPOs) for technology companies in Southeast Asia over the past 15 years. It finds that M&As have been the dominant exit strategy, with 127 M&As and only 11 IPOs during this period. An exponential regression model predicts the number of M&As will continue to grow exponentially, reaching 249 deals by 2020. While IPOs on Southeast Asian exchanges are still challenging for tech startups due to an immature market, M&As are increasingly used by companies to expand across the region and access new markets.
Financial Technology Market Analysis - March 2012MMMTechLaw
Raymond James provides the following in their financial technology investment banking services:
- A market analysis of the financial technology sector including coverage of payments, banking technology, insurance technology, and more.
- Expertise in transaction processing, investment technology, outsourced solutions, and other business models.
- A range of investment banking services including M&A advisory, public offerings, private placements, debt origination, and valuation.
Pivotal Research: Madison and Wall 4 13-12Brian Crotty
Welcome to Pivotal Research’s “Madison & Wall”. The title refers to our work which sits at the intersection between the advertising industry and the financial world. We hope you’ll find these brief notes useful for their contrast to the hyperbole that pervades much of the chatter at that location.
Capital One is rapidly expanding its partnership business under Jim Banta's leadership. It seeks partners with strong brands that need an innovative issuer to help grow their business through increased sales and lower costs. Capital One brings a data-driven approach and collaborative culture to partnerships. It has over 20 million partnership accounts and an appetite for more right partnerships. Issuers must develop new capabilities like cost efficiency and loyalty programs beyond rewards to succeed in the new debit interchange environment under the Durbin Amendment. Incremental innovation of existing card products through changes to pricing, benefits, or targeting is important for growth but often overlooked compared to new products.
Financial Technology July Market AnalysisMMMTechLaw
Raymond James provides an overview of their financial technology investment banking services and recent transaction experience. They cover areas such as payments, banking technology, trading technology, and outsourced solutions. Services include M&A advisory, public offerings, private placements, debt origination, and valuation. Recent transactions since 2010 include acquisitions, mergers, and public offerings totaling over $3 billion across various fintech subsectors.
Tronbotix aims to provide an "all-in-one" software and hardware solution for optimizing business processes using blockchain technology. Their vision is to offer a decentralized, secure and cost-effective way for individuals and small/medium businesses to manage functions like HR, marketing, administration, controlling and more from a single platform. This includes a mini server called BotBox, blockchain-based business phone, and crypto currency called BOTIX for payments within the proposed tronbotix community and trade center. The goal is to save users time and money while giving them autonomy over their data and transactions.
The document provides an industry report on trends in the payments system industry in Q1 2021. It discusses several notable events, including continued growth of buy now pay later programs and contactless payments, delays to interchange fee increases, regulatory scrutiny of Visa's practices, and new entrants applying for banking charters. It also summarizes industry returns, M&A activity, and provides predictions for 2021.
The document discusses myths surrounding the Configuration Management Database (CMDB) in ITIL. It identifies four types of myths - conceptual, process, organizational, and technological. Conceptual myths involve how the CMDB is described, such as thinking it is simply a database or asset repository. Process myths involve how the CMDB supports processes. Organizational myths think the CMDB will improve communication and execution. Technological myths believe a CMDB tool will instantly work without issues. Understanding these myths helps organizations properly implement a CMDB to align IT with business value through improved cost management, resource utilization, and service delivery.
This document provides a summary and analysis of the payments industry in Q4 2010. It discusses several notable events including Goldman Sachs investing $500 million in Facebook, Google acquiring payments platform Jambool, and Square allowing iPhone/iPad use as POS terminals. Regulatory changes like the CARD Act and Durbin Amendment passing are analyzed. The document predicts that exempt debit issuers will see profitability declines due to Durbin, and that a major retailer will help accelerate mobile payments adoption in 2011. It also recognizes several payments technology innovations and mergers/acquisitions from 2010.
This document provides information about Midtown Partners, an investment banking firm that specializes in private investment in public equities (PIPEs). It discusses Midtown Partners' leadership in PIPE placements according to industry rankings. It also summarizes the firm's founding, services, and focus on working with small to mid-sized companies. Finally, it outlines some of the key differences between PIPE financings and secondary offerings.
Whether a communication need be filed depends on the content, context, and presentation of the particular communication or set of communications and requires an examination of the underlying substantive information transmitted to the social media user and consideration of any other facts and circumstances, such as whether the interactive communication is merely a response to a request or inquiry from the social media user or is forwarding previously-filed content. The following examples of interactive communications are intended to provide more guidance.
The document discusses perspectives on personal information and how it flows between parties in a transaction. It describes generic components in a transaction including a person, relationships to a legal entity, and a person buying an asset. It also discusses how personal information can be collected from various sources and connected between organizations.
The federal government narrowly missed its small business contracting goal for the seventh year in a row. However, some argue the SBA inflates the numbers through exclusions and by allowing large companies to receive contracts counted as small business awards. An analysis found over $500 million in contracts awarded to Fortune 100 companies labeled as small business. Advocacy groups and experts say the procurement process is not working as intended and the goals are not being accurately measured and reported.
Intellectual capital impact on investment recommendations evidence from indon...Alexander Decker
This document discusses a study that examined whether investment advisors and brokers in Indonesia consider intellectual capital when making investment recommendations. The study found no significant relationship between measures of intellectual capital (human capital, structural capital, capital employed) and brokers' recommendations. However, it confirmed that brokers' recommendations are based primarily on financial performance. This suggests the Indonesian capital market has not fully recognized how intellectual capital can enhance company value. Increased awareness of intellectual capital among brokers and investors could help capitalize on this underutilized information source.
A longitudinal assessment of intellectual capital of companies listed on mala...Alexander Decker
This document summarizes a study that assessed the level of intellectual capital in companies listed on the Malawi Stock Exchange over a five-year period from 2008-2012. The study found that while intellectual capital made up a significant part of the total value of listed companies, its value had been declining significantly over the period. This raises concerns about the long-term competitiveness of the companies and economy. The study recommends further research into the factors contributing to the decline and potential remedies.
The document discusses several UX megatrends in the financial services industry, including the evolution of new service models to cater to different customer segments. It also covers how UX strategy must be aligned with business strategy and user needs, and the importance of user research, design, and validation in the UX process. Finally, it emphasizes that UX practitioners must think beyond usability to influence user behavior through persuasive and goal-oriented design.
Swiss medical technology industry 2010 reportBhofrichter
This report provides an industry insight of the Swiss MedTech Industry based on a sample basis of >250 participating companies. Focusing on Growth, Challenges, Management Actions needed, Innovation, Product Positioning. It provides comparison to the SMTI 2008 data.
Placed 1st out of 20 teams advising board members of a medical technology company on various strategic alternatives and maximizing shareholder value by utilizing discounted cash flow (DCF), precedent transactions, and comparable companies in a pitchbook presentation
King Capital recommends that Ralph Lauren pursue a negotiated sale to VF Corp. An acquisition by VF Corp would result in Ralph Lauren gaining a stronger manufacturing base through integration with VF Corp's existing network of manufacturers. This would allow Ralph Lauren to reduce operational expenses. The acquisition would also stabilize Ralph Lauren's stock valuation, which has recently been volatile, and maximize shareholder value through securing long-term growth opportunities.
Blockchain rewires INDUSTRY PERSPECTIVES-2Keith Bear
This document discusses how blockchain technology could impact financial markets according to a survey of 200 financial institutions. It finds that 14% expect to have blockchains in commercial production by 2017, which it calls "Trailblazers". Trailblazers expect blockchains to reduce "invisible threats" from new competitors and business models. They see the greatest benefits in clearing and settlements, wholesale payments, equity/debt issuance, and reference data. While most institutions don't expect major disruption, Trailblazers see opportunities for new business models in clearing/settlements, payments, and equity/debt markets. Regulations may be delaying disruption in some areas.
1) There is a need for a trusted global HR blockchain solution due to current issues with data privacy, management across multiple systems, and inability to utilize new technologies.
2) CET's proposed solution includes a HR blockchain to store employee data privately, an integration platform to connect to existing systems, and an app marketplace to easily install new HR applications.
3) This solution would allow individuals to control their own data, companies to have reliable strategic information, and the HR profession to utilize emerging technologies through a standardized and decentralized system.
Q1 2012 venture capital activity report cb insights final-40kenwood
Venture capital activity in healthcare saw a decline in Q1 2012, with funding hitting a five-quarter low of $1.4 billion across 153 deals. This represented a drop from the strongest quarter of funding over the previous five quarters. California and Massachusetts remained the top states for healthcare deals and funding, combining for 46% of deals and 61% of dollars. Seed deals doubled their share compared to Q4 2011, though overall early-stage funding dipped as Series A deals declined. Medical devices, pharmaceuticals, and biotechnology dominated deal activity.
The document analyzes trends in mergers and acquisitions (M&As) and initial public offerings (IPOs) for technology companies in Southeast Asia over the past 15 years. It finds that M&As have been the dominant exit strategy, with 127 M&As and only 11 IPOs during this period. An exponential regression model predicts the number of M&As will continue to grow exponentially, reaching 249 deals by 2020. While IPOs on Southeast Asian exchanges are still challenging for tech startups due to an immature market, M&As are increasingly used by companies to expand across the region and access new markets.
Financial Technology Market Analysis - March 2012MMMTechLaw
Raymond James provides the following in their financial technology investment banking services:
- A market analysis of the financial technology sector including coverage of payments, banking technology, insurance technology, and more.
- Expertise in transaction processing, investment technology, outsourced solutions, and other business models.
- A range of investment banking services including M&A advisory, public offerings, private placements, debt origination, and valuation.
Pivotal Research: Madison and Wall 4 13-12Brian Crotty
Welcome to Pivotal Research’s “Madison & Wall”. The title refers to our work which sits at the intersection between the advertising industry and the financial world. We hope you’ll find these brief notes useful for their contrast to the hyperbole that pervades much of the chatter at that location.
Capital One is rapidly expanding its partnership business under Jim Banta's leadership. It seeks partners with strong brands that need an innovative issuer to help grow their business through increased sales and lower costs. Capital One brings a data-driven approach and collaborative culture to partnerships. It has over 20 million partnership accounts and an appetite for more right partnerships. Issuers must develop new capabilities like cost efficiency and loyalty programs beyond rewards to succeed in the new debit interchange environment under the Durbin Amendment. Incremental innovation of existing card products through changes to pricing, benefits, or targeting is important for growth but often overlooked compared to new products.
Financial Technology July Market AnalysisMMMTechLaw
Raymond James provides an overview of their financial technology investment banking services and recent transaction experience. They cover areas such as payments, banking technology, trading technology, and outsourced solutions. Services include M&A advisory, public offerings, private placements, debt origination, and valuation. Recent transactions since 2010 include acquisitions, mergers, and public offerings totaling over $3 billion across various fintech subsectors.
Tronbotix aims to provide an "all-in-one" software and hardware solution for optimizing business processes using blockchain technology. Their vision is to offer a decentralized, secure and cost-effective way for individuals and small/medium businesses to manage functions like HR, marketing, administration, controlling and more from a single platform. This includes a mini server called BotBox, blockchain-based business phone, and crypto currency called BOTIX for payments within the proposed tronbotix community and trade center. The goal is to save users time and money while giving them autonomy over their data and transactions.
The document provides an industry report on trends in the payments system industry in Q1 2021. It discusses several notable events, including continued growth of buy now pay later programs and contactless payments, delays to interchange fee increases, regulatory scrutiny of Visa's practices, and new entrants applying for banking charters. It also summarizes industry returns, M&A activity, and provides predictions for 2021.
The document discusses myths surrounding the Configuration Management Database (CMDB) in ITIL. It identifies four types of myths - conceptual, process, organizational, and technological. Conceptual myths involve how the CMDB is described, such as thinking it is simply a database or asset repository. Process myths involve how the CMDB supports processes. Organizational myths think the CMDB will improve communication and execution. Technological myths believe a CMDB tool will instantly work without issues. Understanding these myths helps organizations properly implement a CMDB to align IT with business value through improved cost management, resource utilization, and service delivery.
This document provides a summary and analysis of the payments industry in Q4 2010. It discusses several notable events including Goldman Sachs investing $500 million in Facebook, Google acquiring payments platform Jambool, and Square allowing iPhone/iPad use as POS terminals. Regulatory changes like the CARD Act and Durbin Amendment passing are analyzed. The document predicts that exempt debit issuers will see profitability declines due to Durbin, and that a major retailer will help accelerate mobile payments adoption in 2011. It also recognizes several payments technology innovations and mergers/acquisitions from 2010.
This document provides information about Midtown Partners, an investment banking firm that specializes in private investment in public equities (PIPEs). It discusses Midtown Partners' leadership in PIPE placements according to industry rankings. It also summarizes the firm's founding, services, and focus on working with small to mid-sized companies. Finally, it outlines some of the key differences between PIPE financings and secondary offerings.
Whether a communication need be filed depends on the content, context, and presentation of the particular communication or set of communications and requires an examination of the underlying substantive information transmitted to the social media user and consideration of any other facts and circumstances, such as whether the interactive communication is merely a response to a request or inquiry from the social media user or is forwarding previously-filed content. The following examples of interactive communications are intended to provide more guidance.
The document discusses perspectives on personal information and how it flows between parties in a transaction. It describes generic components in a transaction including a person, relationships to a legal entity, and a person buying an asset. It also discusses how personal information can be collected from various sources and connected between organizations.
The federal government narrowly missed its small business contracting goal for the seventh year in a row. However, some argue the SBA inflates the numbers through exclusions and by allowing large companies to receive contracts counted as small business awards. An analysis found over $500 million in contracts awarded to Fortune 100 companies labeled as small business. Advocacy groups and experts say the procurement process is not working as intended and the goals are not being accurately measured and reported.
Intellectual capital impact on investment recommendations evidence from indon...Alexander Decker
This document discusses a study that examined whether investment advisors and brokers in Indonesia consider intellectual capital when making investment recommendations. The study found no significant relationship between measures of intellectual capital (human capital, structural capital, capital employed) and brokers' recommendations. However, it confirmed that brokers' recommendations are based primarily on financial performance. This suggests the Indonesian capital market has not fully recognized how intellectual capital can enhance company value. Increased awareness of intellectual capital among brokers and investors could help capitalize on this underutilized information source.
A longitudinal assessment of intellectual capital of companies listed on mala...Alexander Decker
This document summarizes a study that assessed the level of intellectual capital in companies listed on the Malawi Stock Exchange over a five-year period from 2008-2012. The study found that while intellectual capital made up a significant part of the total value of listed companies, its value had been declining significantly over the period. This raises concerns about the long-term competitiveness of the companies and economy. The study recommends further research into the factors contributing to the decline and potential remedies.
The document discusses several UX megatrends in the financial services industry, including the evolution of new service models to cater to different customer segments. It also covers how UX strategy must be aligned with business strategy and user needs, and the importance of user research, design, and validation in the UX process. Finally, it emphasizes that UX practitioners must think beyond usability to influence user behavior through persuasive and goal-oriented design.
Swiss medical technology industry 2010 reportBhofrichter
This report provides an industry insight of the Swiss MedTech Industry based on a sample basis of >250 participating companies. Focusing on Growth, Challenges, Management Actions needed, Innovation, Product Positioning. It provides comparison to the SMTI 2008 data.
Placed 1st out of 20 teams advising board members of a medical technology company on various strategic alternatives and maximizing shareholder value by utilizing discounted cash flow (DCF), precedent transactions, and comparable companies in a pitchbook presentation
King Capital recommends that Ralph Lauren pursue a negotiated sale to VF Corp. An acquisition by VF Corp would result in Ralph Lauren gaining a stronger manufacturing base through integration with VF Corp's existing network of manufacturers. This would allow Ralph Lauren to reduce operational expenses. The acquisition would also stabilize Ralph Lauren's stock valuation, which has recently been volatile, and maximize shareholder value through securing long-term growth opportunities.
This document summarizes investment solutions provided by Raymond James (USA) Ltd. for Americans living in Canada and Canadians living in the U.S. Specifically:
- Raymond James has created Raymond James (USA) Ltd. to provide specialized cross-border financial advice and services for Americans in Canada regarding their investment needs.
- Services include customized investment portfolios, asset allocation, risk management, access to research teams in both countries, and assistance dealing with cross-border tax and legal issues.
- Clients have the ability to hold both Canadian and U.S. investments in either U.S. or Canadian dollars to avoid currency conversion costs through their accounts at Raymond James (USA) Ltd.
Ubs investment banking challenge national finals presentation jphil90
Primary should wait for the ATO's ruling on Healthscope's revised offer for Symbion before pursuing Symbion itself. Acquiring Symbion would allow Primary to gain significant market share, create an integrated healthcare network, and realize $95 million in annual synergies. However, there are regulatory concerns around further consolidation in the industry. Primary's bid strategy should be to wait for the ATO's ruling and then either pursue Symbion directly or withdraw, depending on whether the ruling allows Healthscope's revised offer to proceed.
Costco acquires Target in an all-stock deal valued at $56 billion. Under the terms of the agreement, Target shareholders will receive 0.62 Costco shares for each Target share. The deal is structured as a tax-free reverse triangular merger. The acquisition is expected to generate $1 billion in annual synergies by increasing Target's return on equity from 9.4% to 14%. Target will operate as a subsidiary of Costco and retain its name and management team. The deal requires approval from both companies' shareholders.
The enterprise software industry is being transformed by substantial investor capital, Cloud 2.0, artificial intelligence, data protection, preferred platforms, and a talent shortage, leading stakeholders of all kinds to make big changes, and big choices.
Peachtree Capital Advisors is an investment bank providing M&A advisory services to software, internet, and IT infrastructure companies. The document discusses M&A trends in the first half of 2012, including competitive pressures driving consolidation, acquisitions of cloud companies with established market share, and a focus on storage companies to address big data needs. Notable deals included Dell's acquisition of Quest Software and Vocus' purchase of iContact.
To enlighten investors on the impact of these breakthroughs and the opportunities they will create, we began publishing Big Ideas in 2017. This annual research report highlights the latest developments in innovation and offers some of our most provocative research conclusions for the coming year. We hope you enjoy our “Big Ideas” for 2020.
An EMC-Zinnov White Paper highlighting the pace at which Private cloud market is growing in India. Majority of CIOs perceive cloud computing as the way forward and have already started adopting/ evaluating cloud computing in the IT environments. CIOs are increasingly looking to invest in applications & infrastructure services (IaaS, Private/ Hybrid Cloud & Virtualization) in terms of cloud adoption.
This document outlines William H. Miller Jr.'s presentation at the EVANTA CIO Executive Summit on December 8, 2015. The presentation was titled "Debunking Common IT Myths 2.0" and aimed to explore five IT topics that are subject to many misconceptions: 1) the inevitability of cloud computing, 2) the role of ERP systems, 3) cybersecurity investment, 4) demands for IT ROI, and 5) innovation in technical organizations. For each topic, Miller presented hypotheses and provocative statements to ignite discussion and debate among participants, with the goal of exposing perspectives and potentially debunking common IT myths.
This document analyzes M&A activity of major tech companies like Apple, Facebook, Google and Microsoft over the last 3 years and its implications for venture capitalists. It finds that M&A activity has increased significantly, particularly in areas like big data, wearable tech, cybersecurity and cloud computing. Venture capital funding and early stage investments have also risen steadily. The document aims to understand the motivations behind tech M&As and how VCs can best position their investments for acquisition exits.
The document discusses how the cloud is changing the business ecosystem. It provides an overview of key topics such as the drivers and challenges of cloud adoption, the changing IT ecosystem, and the impact of cloud computing on different industries. Specifically, the cloud allows organizations to access computing resources on-demand in a flexible, scalable and cost-effective manner. However, security and regulatory issues present challenges. The cloud is transforming roles and processes within organizations and among IT vendors. Industries like government, healthcare and education are seen to benefit greatly from the capabilities of the cloud.
Impact of Cloud on IT Consumption ModelsHiten Sethi
Cisco, in partnership with Intel®, sought to pinpoint how cloud is impacting IT. 4,226 IT leaders in 18 industries across nine key economies, developed as well as emerging were surveyed. The study results highlighted some interesting findings on IT's view of cloud, LOBs' increasing influence on IT purchasing, and what the future holds.
This document discusses how investment management principles can be applied to evaluate performance in the IT industry. It proposes constructing a benchmark using financial data from peer IT companies to compare sector allocation and returns. A hypothetical example shows how an IT company's performance can be attributed to factors like sector weighting and client selection within sectors. Several enhancements are identified, such as accounting for exchange rate fluctuations and using risk-return analysis to optimize sector allocation. The document argues that both strategic long-term allocation and tactical short-term adjustments are important to achieve business goals.
Digital Transformation and Next Gen Technology Study 2023Tam Luong
The document is a summary of a study on digital transformation in the financial services industry. Some key findings include:
- Digital transformation is now mainstream, with over half of participants agreeing it is their most important strategic initiative. However, legacy systems still hold many back.
- Firms are increasing spending on technologies like AI, cloud computing, and blockchain, seeing tangible returns. Leaders are expanding AI use enterprise-wide and centralizing data.
- Challenges remain around balancing innovation with daily operations, budget and skills shortages. Replacing legacy systems is a top priority for non-Leaders.
- Emerging technologies like blockchain, quantum computing, and edge computing could further disrupt the industry, but investment is more cautious
Before the pandemic, themes that were driving technology demand in the capital markets were regulatory compliance and cost-cutting.
Technologies in demand in the capital markets in recent years were Big Data, AI/ML, Blockchain, and Cloud Computing.
Even amid the global economic gloom, the capital markets were not uneventful. As per S&P Global, the global bond issuance is expected to be 16% higher in 2020 compared to 2019 amid record-low interest rates and markets flooded with liquidity. As per data from the World Federation of Exchanges, the value of share trading globally registered a 49.74% increase in H1 of 2020 compared with H2 of 2019. Exchange-traded derivatives volumes were up 23.4% when compared with H2 2019, reaching a record 21.72 billion contracts traded.
Cost pressures, exacerbated by COVID-19, likely to accelerate automation initiatives as banks cut headcounts rapidly.
Technology implementations due to compliance requirements such as the Second Markets in Financial Instruments Directive (MiFID2) and the Fundamental Review of the Trading Book (FRTB) likely to be sources of demand for companies providing technology to the capital market sector. The companies providing automation of compliance processes are already attracting a higher amount of venture funds. Technology providers focusing on Data Analytics, AI/ML, IaaS and Biometrics, etc. are expected to gain from the trends.
Another important factor is the rapid adoption of work-from-home culture. A significant portion of the firms may opt for a permanent work-from-home or a hybrid work culture. This shift is likely to increase demand for cloud transformation services.
Even though many financial services firms may cut IT spending for a few quarters, compliance automation, cost-cutting initiatives, and cloud transformations will continue to create demand for capital market technology providers.
The document discusses the concept of creating an "unbounded" IT organization by transforming traditional IT operating models. Specifically, it suggests that CIOs break down functional silos, embrace multiple speeds of IT delivery, and automate processes early to help streamline development. This would help loosen traditional boundaries around IT and allow for more flexible, multidisciplinary teams that can better support business goals. Creating an unbounded IT organization may require changes to organizational structures, processes, and systems, but could help make IT services more efficient and responsive to business needs.
One of the clearest expressions of this cloud-driven change is the emergence of lines of business (LOBs) — human resources, sales, R&D, and other areas that are end users of IT — both as direct consumers of cloud-based services, and as ever more prominent influencers of companies’ IT agendas.
Data center outsourcing a new paradigm for the ITAlessandro Guli
Decisions relating to the hosting of IT assets are reaching new levels of risk and of complexity.
The availability of new technologies and services, principally those associated with the cloud,
have created new possibilities for aligning IT delivery with business needs and, in the process,
meeting new challenges of data traffic, mobility and the cluster of initiatives that are included
under ‘speed to market’.
The document outlines 6 career positions that can help lead to becoming a Chief Information Officer (CIO): 1) Cloud Crusader with experience managing cloud architectures, 2) Contract Consigliere with skills in negotiating cloud contracts and managing expectations, 3) Tech Translator to effectively communicate technical topics to business stakeholders, 4) Confident Consultant with exposure to diverse projects and strategic thinking from consulting work, 5) Line Leader to broaden skills by working in a line of business, and 6) Digital Virtuoso as a champion of the company's digital vision and strategy.
Navigating Risk In Data & Technology TransactionsMMMTechLaw
The document discusses various risks and considerations for negotiating data and technology contracts. It covers indemnification provisions, confidentiality obligations, security requirements, limitations of liability, export controls, open source software risks, and patent licensing issues. The parties should address allocation of risks, third party intellectual property claims, data protection policies, liability caps, exceptions for gross negligence, compliance with export laws, risks to intellectual property and revenue from open source software, and product liability insurance requirements.
This document is a proposed bill to amend Georgia law to create the Invest Georgia Fund as a component of the existing Seed-Capital Fund. The bill provides legislative findings about increasing private investment capital for Georgia businesses. It defines key terms related to venture capital funds, early stage businesses, and the new Invest Georgia Board. The bill also establishes provisions for insurance premium tax credits that can be purchased by insurance companies to offset tax liability and be allocated to the new Invest Georgia Fund.
Here are the key points about post-closing purchase price adjustments from the document:
- Post-closing purchase price adjustments allow the purchase price to be adjusted based on the target's financial position at closing compared to estimates made prior to closing.
- Adjustments are typically made based on working capital balances like cash, accounts receivable and accounts payable at closing relative to pre-closing estimates.
- An "Adjustment Amount" is calculated as the difference between the actual closing working capital and the estimated "Initial Working Capital" used to determine the upfront purchase price payment.
- The Adjustment Amount can increase or decrease the purchase price paid at closing depending on whether the actual closing working capital is higher or lower than the initial
- SaaS M&A activity was down slightly in August from the previous year, with 13 transactions totaling $1.48 billion compared to 19 transactions totaling $173 million in August 2011.
- The SaaS index increased 8.8% in August, outperforming the Nasdaq which increased 4.1%. Large-cap and small-cap SaaS groups increased over 10% and 6.8% respectively.
- Notable SaaS transactions in August included IBM's acquisition of Kenexa for $1.4 billion and Tangoe's acquisition of Symphony Teleca for $44 million.
This document provides contact information for various professionals at Hyde Park Capital Advisors, LLC, an investment banking firm focused on mergers and acquisitions, capital raising, and technology. It then summarizes capital market performance in the first half of 2012, technology-focused initial public offerings, middle market M&A activity and trends in the technology sector, and notable technology M&A transactions announced in the second quarter of 2012.
This document discusses six healthcare trends and why user experience matters for addressing them. It provides definitions of usability and user experience, arguing that user experience is broader and requires understanding user needs from the start. The six trends are: 1) increased adoption of electronic medical records, 2) increased patient engagement, 3) mobile health becoming mainstream, 4) moving towards accountable care, 5) rise of retail health clinics, and 6) increased care at home solutions. For each trend, the document discusses challenges and how user-centered design can help address them.
The document summarizes the key risk factors cited in SEC filings by the 100 largest US technology companies. Competition, economic concerns, and regulations were the top 3 risks. Concerns about natural disasters/conflicts, data breaches, and supply chain disruptions have increased significantly. Successful product development and M&A integration are also major challenges given competitive pressures.
This document summarizes recent employment law cases from the United States Supreme Court and the National Labor Relations Board.
1) The Supreme Court upheld a state law mandating employer use of E-Verify and found that oral complaints are protected under the FLSA's anti-retaliation provision. Additionally, the Court enforced arbitration agreements prohibiting class actions.
2) An NLRB decision found that mandatory arbitration clauses cannot restrict employees' rights to collective or class actions. The NLRB also required employers to post notices informing employees of their NLRA rights. New NLRB rules make it easier for unions to organize small employee groups.
3) The document discusses the implications of these rulings, including states' ability
The document discusses the results of a survey of over 100 private equity professionals. It finds that respondents are cautiously optimistic about 2012, expecting more deal flow and an easier fundraising environment compared to 2011. Specifically, 70% expect to close 2-3 deals in the next 12 months compared to 47% closing no deals in 2011. Respondents also anticipate investing more capital in 2012, with middle market funds in particular expecting to nearly double their investment levels.
The document summarizes M&A activity in the infrastructure software sector from 2011-2012. It notes that deal volume doubled from 2009 to 142 deals in 2011, driven by cloud computing adoption. However, the largest deals lacked the billion-dollar transactions of 2010. The top 5 deals ranged from $700M to $591M in value. Cloud computing remains the biggest trend, with Forrester forecasting the cloud market to grow over six-fold to $241B by 2020. Large vendors made numerous acquisitions to expand their cloud, virtualization, and data offerings.
This document is an executive summary of the Deloitte Open Mobile Survey 2012. It finds that the mobile industry is undergoing rapid changes as new entrants rewrite the rules of competition. Nearly half of respondents believe internet companies will dominate mobile in 5 years, while carriers will focus on connectivity. Most companies must transition from closed to open models. The summary also notes that mobile cloud, machine-to-machine technologies, and mobile payments show the most potential for future revenue. Gaming is seen as the most lucrative app category long-term.
This document provides an industry update on the education sector from Hyde Park Capital Advisors. It summarizes recent stock performance and valuation multiples for different education industry subsectors. It also lists several recent private placement and M&A transactions in the education industry, including a proposed acquisition of Archipelago Learning by PLATO Learning for $305 million.
The document summarizes M&A activity and market performance in the industrials sector in Q4 2011. It notes that overall M&A transaction volume and value declined from Q4 2010 levels, with the number of deals down 32% and total value down 14%. However, public company stock prices in the sector increased over both 3 and 12 month periods. The electrical equipment industry saw the strongest performance with median multiples of 10.0x LTM EBITDA. Recent M&A transactions highlighted include the acquisitions of Heil Trailer and Unifrax.
Grant Thornton/Pitchbook PE Exits ReportMMMTechLaw
The document summarizes private equity exit activity in 2011 and 2012 trends. It found that 420 US companies were exited in 2011 through sales or IPOs totaling $104 billion, similar to 2010 levels. While exit levels remain strong, the growing gap between investment and exits is concerning as it indicates portfolio companies are being held longer. Secondary buyouts could help address the growing inventory of companies by shortening hold periods. The report aims to analyze industry-level data to better understand which sectors may see more exits or hold periods lengthen further.
This document provides an overview of the technology mergers and acquisitions (M&A) landscape in the fourth quarter of 2011. It summarizes M&A deal activity and public market performance for the technology sector. Specifically, it notes that overall technology M&A deal volume declined in 2011 compared to 2010, though total deal value increased slightly. It also provides examples of notable technology M&A transactions announced in Q4 2011.
The document summarizes a report from Hyde Park Capital Advisors on healthcare mergers and acquisitions (M&A) activity in the fourth quarter of 2011. It provides contact information for several senior directors and associates at the firm. It then reviews capital market performance in Q4 2011 and lists several healthcare-related initial public offerings (IPOs) and secondary offerings. The rest of the document analyzes trends in annual and quarterly middle market M&A activity and transaction pricing in the healthcare industry for 2011.
This document provides a summary of key changes and impacts from the America Invents Act of 2011, which overhauled the U.S. patent system. The Act transitions the U.S. from a "first to invent" system to a "first to file" system, increasing the urgency to file patent applications quickly. It also aims to improve patent quality through new procedures allowing easier challenges of patents outside the court system. However, the Act likely will not cut back on large patent lawsuit damages or significantly impact patent "trolls" in the near future. The biggest change is transitioning to a "first to file" priority system.
This document provides an overview of technology spending by U.S. bankers in 2012. It discusses key themes in the banking industry like channel shift, disintermediation, customer engagement, and improving customer experience. The document also summarizes the state of the banking industry in 2011, noting continued challenges from the mortgage crisis but signs of recovery. Technology spending growth is projected to be modest at 1.8% in 2012 due to uncertainties. The rest of the document breaks down projected spending areas and provides expert opinions on trends in mobile banking, analytics, compliance, security and other technologies.
The Multi-State Employers Council will host its ninth annual invitation-only conference from May 2-4, 2012 at The Sea Pines Resort in Hilton Head Island, South Carolina. The conference will allow employers to network, address recent developments in employment law, and explore strategies for managing human resources issues. A proposed agenda includes sessions on legal updates, HR audits, FLSA compliance, and unemployment claims. Registration is $250 per person and hotel rooms are $175 per night.
This document provides an overview and analysis of private equity deals from 2001 to 2010 based on data from PitchBook. Some key findings include:
- There were 17,361 private equity deals totaling $1.73 trillion in invested capital over the decade.
- Lower middle-market companies accounted for 81% of deals.
- Private equity investment multiples peaked at 11.5x in 2008 before declining during the financial crisis.
- The average time between investments dropped from six months in 2002 to 2.5 months in 2007, indicating increased deal velocity.
- Add-on deals accounted for 46% of PE buyouts by the end of the decade.
- Texas saw more PE deals
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In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
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2. Information Technology
McGladrey Quarterly Private Equity Deal Flow Profile
RSM McGladrey announces the Q4 2011 Private Equity Deal Flow Profile
The RSM McGladrey team is proud to present the Q4 Quarterly Private Equity Deal Flow Profile for the information technology (IT)
industry. Powered by PitchBook, the Deal Flow Profile provides a representation of U.S. private equity deal activity, performance and
trends for the industry. Year to date, the IT industry has seen 169 completed U.S. deals, totaling $20.27 billion of invested capital. IT deal
flow was down in the third quarter, serving as a reminder that “the economy has yet to fully recover, financing can still be a challenge to
obtain and there is still a small supply of quality deals,” according to Donald Lipari, national executive director of Private Equity Services
for RSM McGladrey.
The nature of the industry is very dynamic with new companies and major trends appearing almost out of thin air. These present private
equity firms with a number of challenges and opportunities alike, forcing them to adapt and change their investment strategies. Recent
examples include a shift in preferences away from smaller companies and towards better established middle-market companies, as well
as a willingness to acquire companies in the software sector at higher multiples because of their ability to serve as good platforms for
acquisitions of additional software and technology companies.
Private equity firms, though, are beginning to catch on, and the information technology industry has grown over the last couple of years
to become the third most active industry for private equity investment. The reason IT companies have attracted so much interest from PE
firms, according to Kartik Sundar Raj, director, Transaction Advisory Services for RSM McGladrey, is that “these are companies with
momentum, proven revenue and the ability to explode or even partially explode upwards.”
Dedicated to serving the middle market, the primary area of private equity investment, the McGladrey team meets the needs of private
equity firms and their portfolio companies with integrated transaction advisory, tax, audit, consulting and investment banking services.
With more than 300 clients in the information technology industry, we have a large team of professionals who work almost exclusively
with emerging and technology-based organizations. In the past two years, we have completed more than 50 due diligence engagements
in the software/technology industry. The rest of this report profiles investment trends and activity to give you a better understanding of
the current private equity environment in the U.S. IT industry.
Donald A. Lipari Kartik Sundar Raj
National Executive Director, Private Equity Services Director, Transaction Advisory Services
RSM McGladrey, Inc. RSM Mc.Gladrey, Inc.
212.372.1235 703.336.6400
don.lipari@mcgladrey.com kartik.sundarraj@mcgladrey.com
David Van Wert
Director, Transaction Advisory Services
RSM McGladrey, Inc.
415.848.5338
david.vanwert@mcgladrey.com
www.mcgladrey.com [2] www.pitchbook.com
3. Information Technology
McGladrey Quarterly Private Equity Deal Flow Profile
IT private equity deal flow
IT Private Equity Deal Flow by Year After a strong start to the year, U.S. private equity activity in the IT
industry experienced a fairly dramatic slowdown during the third
quarter. The 39 completed deals and $4.22 billion of invested
capital are equivalent to only about half of 2Q’s totals, and from a
deal flow perspective, it was the third slowest quarter for IT since
2005. Sundar Raj believes this might have been a bit of a one
quarter anomaly, since “things felt better. There is a lot of activity,
but it appears to just not have translated into closed PE deals as of
yet.” Lending support to this is the fact that 2011 as a whole is still
on track to be the best year since the financial crises in terms of
private equity deal flow and capital investment.
Source: PitchBook
Private equity investment preferences in the IT industry have
been shifting in 2011. Some of those changes started several years ago, while others are more recent developments. Examples include a shift
towards software-related companies and an increasing willingness to make growth investments instead of buyouts. IT may be a relatively young
industry for private equity, but its attractive investment prospects have propelled it to be the third most active industry in terms of PE deal flow.
This will likely continue according to David Van Wert, director, Transaction Advisory Services, who believes, “4Q, on a micro level, has already
started strong, and there will likely be an uptick in activity before year-end.”
IT Private Equity Deal Flow by Quarter
Source: PitchBook
*Through 3Q 2011
www.mcgladrey.com [3] www.pitchbook.com
4. Information Technology
McGladrey Quarterly Private Equity Deal Flow Profile
Deal Activity by Sector Median Deal Size ($M)
Source: PitchBook
Source: PitchBook
Deal flow details Capital invested details
The software sector has slowly but surely taken over private The median deal size in the IT industry has skyrocketed this
equity investment in the IT industry. The sector has seen 88 deals year to almost $200 million, the result of both larger
totaling $9.2 billion so far in 2011 and is well on pace to top last companies being acquired and higher valuation multiples. In
year’s total of 105 deals, which represented $4.4 billion of invested general, PE firms have been displaying a bigger appetite for
capital. Within software, Sunda Raj sees “new applications, cloud larger companies and a renewed ability to finance these
computing, education and government related software larger deals. The $200 million also shows that the primary
companies driving the growth.” interest for private equity has been moving away from
younger and smaller IT companies and towards more
The amount of private equity capital flowing to software established middle-market ones. Additionally, the IT industry
companies is currently at its highest since 2007, and the software has seen significant competition for deals from both strategic
sector is on track to eclipse communications and networking as acquirers and other PE investors. As Van Wert notes,
the top IT sector for only the second time. In the IT services sector, “Strategics are having little trouble throwing money at deals
deal flow has not slowed down with 30 completed deals in 2011 right now, which is basically requiring PE firms to up the ante
to date despite a drop in investment to just over $1 billion, to even stay in the bidding.” This competition has led to
indicating that PE investors have switched their preference to higher multiples for an industry that already had higher
smaller companies and growth investments. multiples than most.
PE Transactions (Total $ Amount) by Sector % PE Transactions (Count) by Deal Type %
Source: PitchBook Source: PitchBook
*Through 3Q 2011
www.mcgladrey.com [4] www.pitchbook.com
5. Information Technology
McGladrey Quarterly Private Equity Deal Flow Profile
Percentage of Deals by New Investors
Number of Investors
Source: PitchBook
*Through 3Q 2011
Deals by new investors in the IT industry
This chart shows the number of private equity firms investing in the information technology industry each year, as well as the
portion of those investors that were making their first investment in the industry. Despite the drop in deal flow during the third
quarter, there is clearly still widespread interest in the industry, since almost 190 private equity firms have made investments in
it so far this year. The decline in percentage of new investors is explained by Van Wert: “In the current uncertain economic times,
it is not the best time for an investor to move into an industry they don’t have experience in.”
Selected IT Q3 2011 PE transactions
Company Name Investor(s) Sector Amount ($M)
Lawson Software Golden Gate Capital, Infor Global Solutions Software $2,000
Smart Modular Technologies Silver Lake Partners Hardware $645
Wall Street Systems ION Trading, Kairos Partners, TA Associates Software $500
BankServ GTCR Golder Rauner Software $300
LightSquared Harbinger Capital Partners Communications & Networking $265
TelePacific Communications Investcorp Communications & Networking $125
Plimus Great Hill Partners Software $115
BigMachines JMI Equity, Vista Equity Partners Software $106
Opera Solutions Accel-KKR, Invus Group, Jge Capital Management, Software $84
Silver Lake Partners, Tola Capital
Education2020 Kohlberg Kravis Roberts, Weld North Software $50
Thought Equity Motion Shamrock Capital Advisors Software $25
www.mcgladrey.com [5] www.pitchbook.com
6. Information Technology
McGladrey Quarterly Private Equity Deal Flow Profile
IT PE Exits (Count) by Exit Type
Source: PitchBook
Private equity exit activity
There were eleven private equity exits in the information technology industry during the third quarter, bringing this year’s total to 44. Exit flow
is up from the past couple of years, but a large difference between new investments and exits still exists in the industry. The number of private
equity backed-IT companies rose to 586 by the end of the third quarter. 414 of those companies are over three years old, including 243 that
are more than five years old. Consequently, a number of IT companies backed by PE firms will likely be on the block in the next year or two.
The exit strategies for private equity firms in the IT industry are mainly concentrated on sales to strategics (corporate acquisitions) and other
PE firms (secondary buyouts). Corporate acquisitions have historically accounted for the majority of the exits, and 2011 is no different with 30
such exits. On the other hand, the IPO market has continued to be rough for PE-backed companies. Freescale Semiconductor is the only
PE-backed IT company to go public so far in 2011. One area of exit activity that is seeing significant growth is IT secondary buyouts. If PE deal
flow turns around, this exit type could become an even bigger source of both deals and exits for private equity investors.
IT PE Exits (Count) by Exit Type % IT PE Exits by Sector
Source: PitchBook
Source: PitchBook
*Through 3Q 2011
www.mcgladrey.com [6] www.pitchbook.com
7. Information Technology
McGladrey Quarterly Private Equity Deal Flow Profile
The following list shows a detailed breakdown of the PitchBook industry codes for the information technology industry.
6. Information Technology
6.1 Communications and Networking 6.4 Services
6.1.1 Cable Service Providers 6.4.1 Consulting and Outsourcing
6.1.2 Connectivity Products 6.4.2 Systems and Information Management
6.1.3 Fiberoptic Equipment 6.4.3 Other IT Services
6.1.4 Internet Service Providers 6.5 Software
6.1.5 Telecommunications Service Providers 6.5.1 Application Software
6.1.6 Wireless Communications Equipment 6.5.2 Automation/Workflow Software
6.1.7 Wireless Service Providers 6.5.3 Communication Software
6.1.8 Other Communications and Networking 6.5.4 Database Software
6.2 Hardware 6.5.5 Educational Software
6.2.1 Computers, Parts and Peripherals 6.5.6 Internet Software
6.2.2 Electronic Components 6.5.7 Multimedia and Design Software
6.2.3 Electronic Equipment and Instruments 6.5.8 Network Management Software
6.2.4 Office Electronics 6.5.9 Operating Systems Software
6.2.5 Storage 6.5.10 Software Development Applications
6.2.6 Other Hardware 6.5.11 Vertical Market Software
6.3 Semiconductors 6.5.12 Other Software
6.3.1 Application Specific 6.6 Other Information Technology
6.3.2 General Purpose 6.6.1 Other Information Technology
6.3.3 Production
6.3.4 Other Semiconductors
www.mcgladrey.com [7] www.pitchbook.com