Monday, 19 October 2009

Q3 acquisitions down despite strong September

(By Anthony Miller – Monday 19th October 2009 8:00am). A bumper month for European tech M&A in September (see Regent reports strong month for M and A) was not enough to salvage the quarter, according to data just released by Regent Partners.

The total number of European tech M&A transactions in Q309 fell 12% yoy to 574, mainly due to a very slow August. But the September recovery pushed aggregate transaction value for the quarter to nearly $22b, more than double Q209. Valuations also recovered sharply, with Q3 median P/E up to 13.2x and median PSR up to 1.07x. Regent CEO, Peter Rowell, expects valuations to edge up further as buyers become active now that the recession appears to be easing.

We will be analysing the UK software and IT services M&A deals in much more detail as usual in the next issue of IndustryViews M&A.

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