Fusie en overname dynamiek

Onderwerpen:

• Fusie en overname activiteit omhoog
• Sectoren die in de belangstelling staan
• Transactie hoogtepunten 2007/ 2008
• Internationale fusie en overname markten
• Laatste deals Q1
  • Deal hoogtepunten 17 maart
  • Deal hoogtepunten 17 mei
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• Waarderingen
• Europese waarderingen per sector maart 2008
• Private Equity
• Nieuwe beursintroducties

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Fusie en overname activiteit omhoog

Ondernemingen zullen zich richten op sneller groeiende opkomende markten samen met het MKB segment om de afnemende besteding groei in de VS te compenseren, voorspelde IDC. In sommige gevallen zal men acquisities moeten doen in veelbelovende nog niet benaderde sectoren. Frank Gens Sr. VP research van IDC zei dat Google haar positie in het MKB segment kan verstevigen door overname van Salesforce.com of Intuit Inc. Beide bedrijven met sterke op het web gebaseerde business toepassingen. "Google wil een vooruitgeschoven post in het MKB", zei Gens die verwacht dat dit business segment in de komende jaren 8 - 10% groeit. De IDC analisten voorspelden vorig jaar met grote nauwkeurigheid dat grote software leveranciers zoals Oracle en SAP de BI software producenten zoals Hyperion en Business Objects zouden overnemen. IDC ziet de grote sofware makers zich nu richten op software producenten in opkomende markten zoals het Braziliaanse Datasul, het Chinese Kingdee, en het Indiase 3i Infotech Ltd. Een bruggenhoofd in deze markten zal cruciaal zijn omdat volgens IDC IT bestedingen in Brazilië, Rusland, India, China en negen andere opkomende landen waaronder Polen en Mexico, 16% groeien in 2008. IDC voorspelt ook de operatoren van mobiele telefoon netwerken in de VS Verizon zullen volgen en hun netwerken zullen openstellen voor welke telefoon of software ook. IDC ziet ook dat IBM en Microsoft zich volledig zullen storten op de markt van software die via het web wordt aangeboden waardot ze in toenemende mate concurrent worden van Google en zelfs van netwerk gigant Cisco Systems Inc. Cisco zal haar WebEx video conferentie technologie gaan gebruiken als platform om een verscheidenheid aan via het web beschikbare toepassingen voor de zakelijke markt aan te bieden, volgens IDC.

Citrix, BMC Software, Novell, Lawson en Symantec zijn namen die dit jaar kunnen verdwijnen als onafhankelijke bedrijven, zegt de 451 Group. Er is volop cash in de bank bij Microsoft, Dell en Oracle. De markt onderzoekers hebben een lijst opgesteld met potentiële prooi. Naast de namen die al werden genoemd werd ook gerefereerd naar Tibco en Informatica samen met een aantal niche spelers op het gebied van online backup en compliance (nakoming van regelgeving).

In Europa is slechts één speler van wereldklasse en dat is SAP op het gebied van ondernemingsbrede softwaretoepassingen en ERP systemen. Uiteindelijk moet de bijna eindeloze reeks acquisities in de sofware sector gaan afzwakken voorspelt 451 Group. Er zullen alleen 4 grote spelers overblijven die de mega deals doen: IBM, Oracle, SAP en Microsoft.

Dat is wat 451 zegt, maar vergeten ze Google niet?

De Europese ICT dienstverleners gaan strategische allianties aan om voldoende toegang tot human resources te creëren en markt presentie in nieuwe gebieden zoals CEE, Azië en Australië. We voorspellen dat de Telecom operatoren belangrijke aanjagers zullen zijn van overnames van middelgrote ICT infrastructuur gerelateerde ondernemingen inclusief multifunctionele datacenters. We zullen meer strategische kopers en minder private equity. Ook meer transacties over grenzen heen en een grotere deels niet in openbaarheid gebrachte stroom van deals. Europese bedrijven zijn nog geen prooi voor de Aziatische kopers maar 2008 wordt gezien als een doorbraak jaar.

Sectoren die 'hot' zijn in 2007/ 2008

Sectoren die in de belangstelling staan zijn:

• Internet (commerce, advertising, content, social sites, games, communications, speech, search, and new business models)
• networking and Infrastructure
• Wireless/Mobile
• Software as a Service
• Vertical Markets, especially healthcare, transportation, government and engineering
• IT Services
• Geospatial technologies, mapping, and navigation
• Security
• Learning and Talent Management
  
  

Transactie 'highlights' 2007/ 2008

Mega Deals in 2007

Er waren zo veel multi miljarden deals in de eerste 5 maanden van 2007 als er opgeteld bij elkaar waren in dezelfde 5 maanden periode van 2002 t/m 2006. Gedurende het derde kwartaal 07 vertraagde dit fenomeen aanzienlijk, maar in het 4e kwartaal trok het weer aan. Transactie aankondigingen die openbaar werden gemaakt boven 1miljard dollar waren:

• Nokia is buying Navteq - $8.1 billion
• SAP AG is acquiring Business Objects S.A - $6.8 billion
• Danaher Corporation is acquiring Tektronix - $2.8 billion
• Dell is acquiring EqualLogic - $1.4 billion
• IBM is acquiring Cognos - $5 billion
• Activision, Inc. and Vivendi combine - $18.9 billion
• Macrovision Corporation is acquiring Gemstar-TV Guide - $2.8 billion
• Naspers Ltd., is acquiring Tradus - $1.91 billion
• Kohlberg Kravis Roberts & Co. is acquiring Northgate Information Solutions
• $1.8 billion

Meest actieve kopers:

• AOL - Yedda, Quigo Systems
• Autodesk - Robobat, Hanna Strategies
• Cisco - Securent, Navini Networks
• Dell - EqualLogic, Everdream, The Networked Storage Company
• DirectPointe - TechnologyWorks, Sweet Spot Solutions, iTOK
• Electronic Arts - Super Computer International, BioWare, Pandemic Studios
• EMC - Berkeley Data Systems, Voyence, Document Sciences
• Google - Zingku, Jaiku
• HP - Atos Origin Middle East, EYP Mission Critical Facilities, MacDermid
• IBM - NovusCG, Cognos, Arsenal Digital Solutions
• Intuit - Homestead Technologies, Electronic Clearing House
• Macrovision - Gemstar-TV Guide, All Media Guide Holdings
• McAfee - SafeBoot, ScanAlert
• Microsoft - Global Care Solutions, Musiwave SA, Multimap, WebFives, Jellyfish.com
• Nokia - Navteq, Avvenu
• Nuance - Viecore, Commissure, Vocada
• Oracle - Castek Software (i-flex), LogicalApps, Interlace Systems, Moniforce
• PurePay - CybrCollect, Netvantage
• Qualcomm - SoftMax, Firethorn Holdings
• Quest Software - Provision Networks, PassGo Technologies
• SAP - Business Objects, YASU Technologies
• SunGard - DSPA Software, The ASTEC Group
  

Internationale M&A markten

De huidige fusie en overname golf wordt gevoed door een onafgebroken drang naar globalisatie. Intelligente managers weten dat locale acquisities eenvoudiger zijn uit te voeren en minder risico met zich meebrengen, maar globalisatie is soms essentieel. We zien nog steeds een enorme deal activiteit die grensoverschrijdend is doordat ondernemingen M&A blijven zien als de belangrijkste strategie voor omzetgroei en expansie via geografische aanwezigheid. Ondernemingen hebben in toenemende mate internationale ambities en het vertrouwen en de kennis c.q. de middelen om zowel kleinere als grotere grensoverschrijdende acquisities te doen. De kracht van de non US valuta en de afzwakking van de economie in de VS hebben bijgedragen aan de stroom van geld in multinationale bedrijven van vele miljarden dollars.

De acquisities van Amerikaanse bedrijven door buitenlandse kopers wordt versterkt door de zwakke dollar. Dit zal tot nieuwe activiteit leiden en zal helpen compensatie te bieden voor een potentiële teruggang in transactie volume dit jaar. Amerikaanse bedrijven en activa hebben een bijzondere aantrekkingskracht op buitenlandse investeerders die hun portefeuilles willen diversifiëren. De rol van de Staats Investering Fondsen kan niet meer worden veronachtzaamd omdat ze steeds vaker in transacties naar voren komen. Echter de internationale grensoverschrijdende acquisities zijn al langer groeiende als trend voordat deze zaken in het nieuws waren. Europese transactie volume bereikte een record van 1,93 triljoen dollar in 2007 en was goed voor 43% van het totale wereldwijde transactie volume. Voor degenen die de cijfers bijhouden, aandeel VS in deal volume was 32%. Het markeerde tevens een 34% toename t.o.v. het recordjaar daarvoor en slechts de tweede keer dat het Europese deal volume hoger lag dan dat in de VS. En terwijl in de VS het volume terugzakte met 44% in de 2e helft van 2007 viel de Europese deal stroom slechts 14% terug. Azië verdient ook wat aandacht. Het deal volume bereikte daar $ 714M, al weer een record en 24% boven het daarvoor.
In Thomson's financiële jaarlijkse onderzoek bij deal makers, kijken de investering professionals in toenemende mate naar grensoverschrijdende deals.

Terwijl 46% van de respondenten geen cross border transactie heeft gedaan het laatste jaar, zegt 46% te geloven binnen 6 maanden een cross border deal te doen, waarvan 20% zegt waarschijnlijk en 26% zeer waarschijnlijk. Canada, (61%), China (48%) en West Europa (42%) zijn de gebieden, waar ze hoogst waarschijnlijk betrokken zullen zijn. Hoe langer de consolidatie duurt hoe diepgaander de zoektocht. Een verdere consequentie van de enorme concurrentie die nu wordt ervaren is dat kopers steeds intensiever de markt afzoeken.

Voorbeelden van internationale deals die we in Q4 2007 per land hebben opgespoord zijn:

Canada:

• BSM Technologies Inc (Canada) is acquiring Netistix Technologies Corp, a developer of web-based fleet monitoring software. BSM Technologies is a provider of high security vehicle tracking and surveillance solutions.
• IBM is acquiring Cognos Inc. (Canada), snapping up the last major independent maker of business intelligence software.
• Cytiva Software Inc (Canada), mid-market recruiting software provider, agreed to acquire One45 Software Inc (Canada), a developer of medical education software.
• Solarsoft Business Systems (Canada) is acquiring VantagePoint Systems.
• VantagePoint develops business software for packaging manufacturing companies and provides complete implementation, product support, and technical services to its customers.
• Sierra Systems Group Inc., a Golden Gate Capital portfolio company and leading information technology and management consulting services company, is acquiring privately held RIS, Inc. (Canada), a top provider of applications support and maintenance services.
• Constellation Software Inc. (Canada) has acquired Systems & Software Incorporated.
• TECSYS Inc. (Canada), an industry-leading supply chain management software company, acquired Streamline Information Systems Ltd, a developer of enterprise software and a leading Canadian softwaresupplier in the industrial distribution sector.
• Adknowledge has acquired Cubics, Inc.(Canada), the first online advertising network created to focus on the Facebook developer community.
• Softchoice Corporation (Canada), provider of technology solutions and services, has taken the next step in implementing its growth strategy by acquiring Software Plus, the largest corporate reseller of computer software in the U.S. Midwest and the industry's ninth largest Microsoft Large Account Reseller.
  

Austria:

• IDENTEC SOLUTIONS' (Austria) recent acquisition of Wtek (Norway), a global leader in providing active RFID solutions in the workplace, sets the stage for IDENTEC SOLUTIONS' entry into the growing sector of worker safety and security.

Denmark:

• SurfRay, a developer and distributor of technology that makes it possible to search structured, semi-structured and unstructured data in real time, is acquiring Mondosoft, a developer of enterprise search, analytics and site optimization products.

Finland:

• Nokia Corp. (Finland) is buying U.S. navigation software maker Navteq Corp. and is gaining a stronghold in the navigation business.
• Google has acquired Finland startup Jaiku, which makes a mobile phone application people can use to send short messages.

France:

• Bull has acquired Serviware (France), a company specializing in high-performance computing solutions integration.
• InfoVista, a service-centric performance management software vendor, is acquiring France-based privately held Accellent, whose application network monitoring solutions are used by large French and international organizations to ensure the delivery of mission-critical and revenue generating services.
• Microsoft is acquiring Musiwave SA (France), an Openwave company and a leading provider of mobile music entertainment services to operators and media companies.
• Autodesk, Inc. is acquiring Robobat, a privately held company based in France that specializes in analysis, design, and steel and concrete detailing software for the structural engineering industry.
• GL TRADE (France), provider of front-toback office software solutions for financial institutions, acquired Decision Software, provider of a fixed income trading platform.
• Generix (France), software publisher for the retail sector, acquired Infolog Solutions, a supply chain expert.
• Meetic (France) agreed to acquire Neu.de GmbH, a Cologne-based Internet service provider.
• Activision, Inc. and Vivendi (France) announced that they will combine Vivendi Games, Vivendi's interactive entertainment business, with Activision.
• BT is reinforcing its presence in France by acquiring IT service company Net2S.
• StepStone (Norway), provider of Total Talent solutions, acquired Sourcea.fr, a French niche market job board focused on telesales, banking, marketing and secretarial services.

Germany:

• eBay Inc. has acquired ViA-Online GmbH, a leading auction management software company in Germany that operates Afterbuy.com to enable professional trading on eBay.de and other online marketplaces.
• Air2Web, Inc. and MindMatics AG (Germany) have agreed to merge. The transaction firmly establishes the combined organization in the global pure-play mobile marketing arena.
• Zebra announced that it has extended its presence in the growing field of real-time location with the acquisition of RFID provider proveo AG (Germany).
• Collexis Holdings, Inc., a developer of highdefinition search and discovery software, has acquired its long-time development partner, SyynX Solutions, a privately held software company.
• PTC, (Parametric Technology Corp), is acquiring CoCreate Software GmbH, a provider of PLM and CAD modeling solutions.
• Cordys, a provider of Business Process Management technology, acquired abaXX Technology AG (Germany), a provider of BPM and vertical industry process-enabled solutions.
• DivX, Inc. has acquired MainConcept AG (Germany), a leading provider of H.264 and other high-quality video technologies for the broadcast, film, consumer electronics and computer software markets.
• Captaris, Inc., a provider of software products that automate document-centric processes, is acquiring Oce Document Technologies GmbH, a provider of software and solutions for document capture, text recognition and document classification.

The Netherlands:

• McAfee acquired mobile encryption provider SafeBoot NV (Netherlands).
• ING DIRECT USA (part of Netherlands based ING) acquired ShareBuilder Corporation, a privately held Seattle-based online financial services company.
• Irdeto (The Netherlands), provider of content security for digital TV, IPTV and mobile and a subsidiary of multi-national media group Naspers, has acquired ©Cloakware, a privately held software company.
• Royal Philips Electronics (The Netherlands) will acquire U.S.-based Emergin, Inc., provider of software utilized to rapidly transmit medical alarm signals throughout hospitals.
• Eclipsys Corporation, as part of its strategy to expand and enhance content integration in Sunrise Knowledge-Based Charting and its other Sunrise Clinical Manager integrated solutions, has sold its Clinical Practice Model Resource Center business to Elsevier.
• Securitas Systems has acquired Installerende Partners. Installerende Partners has more than 20 years of experience in the security industry and is a supplier of integrated security and IP satellite services.

Norway:

• Vizrt Ltd. and Escenic AS (Norway) agreed to merge to create a strong player in the content management market.
• IDENTEC SOLUTIONS' (Austria) recent acquisition of Wtek (Norway), a global leader in providing active RFID solutions in the workplace, sets the stage for IDENTEC SOLUTIONS' entry into the growing sector of worker safety and security.
• StepStone (Norway), provider of Total Talent solutions, acquired Sourcea.fr, a French niche market job board focused on telesales, banking, marketing and secretarial services.

Sweden:

• Dolby Laboratories is acquiring Coding Technologies AB (Sweden), a privately held provider of audio compression technologies for the mobile, digital broadcast, and Internet markets.
• Interoute (UK) acquired Swedish Internet communications and managed services specialist pi.se.
• BAE Systems is acquiring Pitch Technologies AB (Sweden), an innovator of computer-based training and research simulation technologies.

Switzerland:

• Logitech International (Switzerland) is acquiring WiLife, Inc., which offers an affordable, easy-to-set-up, easy-to-use PCbased video solution for self-monitoring a home or smaller business.
• INFICON (Switzerland), a manufacturer of instrumentation and process control software for the semiconductor and vacuum-coating industries and other industrial applications, announced it hasacquired Sigma Instruments Inc., a manufacturer of instrumentation for the measurement and control of thin film processes.

UK:

• Interoute (UK) acquired Swedish Internet communications and managed services specialist pi.se.
• Autonomy Corp PLC (UK) agreed to acquire Meridio Holdings Ltd, a developer of eDRM software.
• Satyam Computer Services Ltd of India is acquiring Nitor Global Solutions Ltd, a UKbased provider of computer and software consulting services.
• Synchronica plc (UK), an international vendor of mobile synchronization and device management software, has acquired the assets of U.S. mobile email specialist GoodServer.
• Harvey Nash (UK), a global search and professional talent solutions firm, acquired TechDiscovery, LLC, an IT solutions and consulting firm.
• PTC (Parametric Technology) has acquired Logistics Business Systems (LBS), an integrated logistics support solutions provider to the aerospace, defense and civil aviation industries.
• DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), is acquiring SmartStream Technologies, the UK-based software licensing and professional services business from TA Associates, SmartStream management and employees.
• Capital Markets Technologies has acquired a 55% equity stake in iBase Solutions Limited, a UK-based financial solutions company specializing in optimizing posttrade processes for financial institutions.
• MicroEdge, Inc., a wholly owned subsidiary of Advent Software and provider of solutions for the grant making community worldwide, has acquired Vivid OrangeLimited (UK). Vivid Orange is a provider of corporate community involvement and employee giving technology in the UK.
• Quest Software, Inc. is acquiring PassGo Technologies Limited (UK), a privately held provider of access and identity management solutions.
• Microsoft Corp. has acquired Multimap, a UK online mapping company to enhance its existing Windows Live web-based services.
• Africa's top media group, Naspers Ltd. (South Africa), is acquiring UK-based Internet auction firm Tradus to extend its reach into central and Eastern Europe.
• Dell is acquiring The Networked Storage Company (UK), an IT consultancy that specializes in transitioning customers to proven, simplified and cost-efficient IT data storage solutions.

Israel:

• AOL announced that it has acquired Yedda, Inc. (Israel), a leading semantic social search Questions and Answer service.

China:

• Yucheng Technologies Limited's wholly owned subsidiary, Beijing Yuxinyicheng Technologies, acquired Recency Technology Limited, a provider of business intelligence solution and consulting services to banks in China.
• Spreadtrum Communications, Inc., one of China's leading wireless baseband chipset providers, is acquiring Quorum Systems, Inc., a fabless semiconductor company that specializes in the design of highly integrated CMOS radio frequency (RF) transceivers.
• International mobile games publisher Glu Mobile Inc. is acquiring Beijing Zhangzhong MIG Information Technology Co. Ltd., a Chinese company that also publishes games for the mobile market.

India:

• Satyam Computer Services Ltd of India is acquiring Nitor Global Solutions Ltd, a UKbased provider of computer and software consulting services.
  " Fortis Financial Services Ltd (India) which is a substantial stakeholder of Asian CERC Information Technology Ltd., a capital market software provider, has acquired Capital Market Solutions Pvt Ltd. (Australia), a software company providing solutions and services to financial markets.

Mexico:

• Hildebrando (Mexico), a leader in application development, business intelligence and systems integration outsourcing solutions, has acquired Sinapsis Technologies, the Americas' leader of Captive Center Services.

Ukraine:

• Oberon Media (Ukraine), the provider of multi-platform casual-games company, has significantly expanded its Eastern European presence by acquiring Kenjitsu, a Nikitova-affiliated outsourcing studio.

Australia:

• Avnet, Inc. has acquired ChannelWorx Pty Ltd, a networking and security value-added distributor, is known in the market as a leader in security and networking.
• RuleBurst Limited, a leader in software solutions to prevent, detect and cure breaches in legislation, policy and business rules, acquired U.S.-based Haley Systems. The acquisition merges two global leaders of natural language business rules management software.
• General Dynamics has acquired Mediaware International Pty Ltd. (Australia), a leading developer of real-time full-motion compressed digital video processing software and systems for defense, intelligence and commercial customers.
• Fortis Financial Services Ltd (India) which is a substantial stakeholder of Asian CERC Information Technology Ltd., a capital market software provider, has acquired Capital Market Solutions Pvt Ltd. (Australia), a software company providing solutions and services to financial markets in Asia Pacific and the UK.
• Radiant Systems, Inc. is acquiring Quest Retail Technology (Australia), a global provider of point-of-sale and back office solutions to stadiums, arenas, convention centers, race courses, theme parks, restaurants, bars and clubs.
• Pitney Bowes acquires Encom, a leading reseller of Pitney Bowes MapInfo location intelligence technology for many years, with a particular focus on the mining and drilling industries.
• CommQuest Ltd is acquiring Next Digital Group Pty Ltd, a digital marketing services provider. Next Digital Group Pty Ltd, based in Australia, provides digital marketing services.
  
  

Laatste deals Q1 en Q2 2008

Deal volumina vertraagden substantieel gedurende de laatste weken van Q1. Buiten beschouwing is gelaten de Bain/ Huawei/ 3Com deal die om redenen van regelgeving in de vertraging is gekomen. We kijken uit naar een geherstructureerde deal binnenkort die Huawei's (China) directe toegang tot kritische VS gerelateerde ethernet technologie zal beperken. In de grootste aangekondigde transactie van de laatste week (van 17 maart), maakt BMC de overname van BladeLogic bekend, de grootste acquisitie sinds ze 900M US dollar betaalden voor de overname van Boole & Babbage 10 jaar geleden. In combinatie met andere recente aankopen geeft de BladeLogic acquisitie de BMC producten meer mogelijkheden om functies binnen het IT spectrum te automatiseren n.l. van de werkplekcomputer van de individuele employee tot en met de achter de schermen met computer-servers gevulde datacenters. De aankondiging volgt op HP's 1,6 miljard dollar koop van Opsware in juli 2007, dat een concurrent voor BladeLogic is bij de datacenters.

Deal hoogtepunten in de week van 17 maart zijn:

BMC Software to acquire BladeLogic

BMC Software is acquiring BladeLogic, provider of data center automation. When completed, the BladeLogic acquisition will add a significant, high-growth revenue stream to BMC, accelerating the company's long-term growth expectations for revenues, earnings and cash flow. Analysts say BMC made a strategic acquisition that rounds out a gap in its product line-up. This also gives BMC a key weapon against the much larger HP, which last year bought Opsware, another leading maker of software that helps automate server management, among other things. This acquisition will combine BMC's BSM platform with BladeLogic's award-winning data center automation solutions. BladeLogic is the fastest growing company in the fastest growing segment of IT management software.

Announcement Date: March 17, 2008
Deal Value: $800 Million (Cash on $71.35 million ttm)

Lawson Software acquires Freeborders

Lawson Software has acquired the Product Lifecycle Management (PLM) software division of Freeborders. With this acquisition, Lawson will deepen its enterprise software offerings for companies in the fashion industry. Freeborders will retain its existing technology outsourcing services, which are not included in Lawson's acquisition. PLM helps fashion manufacturing companies more quickly source the materials they need to move a product from design to production. By adding PLM capabilities to its portfolio of enterprise software offerings, Lawson can now help companies establish processes that will enable them to cut the lead time from product concept to production to actual delivery to the retail store shelf.

Announcement Date: March 17, 2008
Deal Value: Undisclosed

Vector Capital to acquire Captaris

Vector Capital, a leading private equity firm specializing in the technology industry, is acquiring Captaris, provider of computer software products that automate document-centric business processes. Vector Capital is the largest shareholder in Captaris, with a 10 percent stake in the company. Other down-on-their-luck technology brands Vector has recently acquired include Register.com, SafeNet, WatchGuard Technologies and WinZip. Most recently, Vector had acquired the application performance management business of security software maker Symantec.

Announcement Date: March 17, 2008
Deal Value: $126.8 Million

SAS acquires Teragram

SAS, a leader in business intelligence (BI) and advanced analytics, acquired Teragram, provider of natural language processing (NLP) and advanced linguistic technology that use the meaning of text to distill relevant information from vast amounts of data. The acquisition will enhance SAS' own robust text mining and analytical BI offerings, and extend them to enterprise and mobile search. SAS believes the addition of Teragram's domain expertise and NLP technology will change the landscape of the BI and analytics markets. Teragram's technologies augment, strengthen and extend SAS' ability to combine structured and unstructured data - not only in its text mining solution but embedded across the entire SAS Enterprise Intelligence Platform.

Announcement Date: March 17, 2008
Deal Value: Undisclosed

360i acquires i33

360i, an independent digital agency and a subsidiary of Innovation Interactive LLC, has acquired award-winning digital design, development and marketing firm i33 communications. The move bolsters 360i's existing capabilities and further enhances the agency's ability to create integrated and measurable interactive marketing solutions for major brand marketers. i33 brings strong expertise in creating user experiences online, including design and development of social media applications, widgets, Web sites, rich media experiences and more for entertainment and retail clients.

Announcement Date: March 17, 2008
Deal Value: Undisclosed

MobiVentures acquires Move2Mobile

MobiVentures Inc., provider of high quality mobile applications, content and services, is acquiring Move2Mobile (U.K.), a mobile and wireless business accelerator. Move2Mobile provides services to early stage businesses to support their product and business development, and entry into the market. In return for its services, Move2Mobile receives its payment primarily in stock in the respective companies and as a result holds equity interests in 12 early stage companies in the mobile sector. Move2Mobile's ownership position in each of its portfolio companies ranges from a small equity interest to 20%. MobiVentures will now have greater access to a broad scope of businesses in the mobile space, which include a secure SMS technology company, a mobile polling and voting, mobile fraud prevention and several other mobile focused technology businesses.

Announcement Date: March 18, 2008
Deal Value: $4.2 Million

Progress acquires Xcalia

Progress Software acquired Xcalia, a leader in the development and adoption of the SDO standard and data integration technologies. Xcalia is now part of Progress' DataDirect Technologies operating company. Xcalia is a member of several international standards committees including JSR 317 (JPA2) and JSR 235 (SDO 3 for JavaTM) within the Java Community Process. The company is also an active member of the OASIS and Open SOA consortiums contributing to the Service Data Objects (SDO 1, 2 and 3) and Data Access Service (DAS) specifications. Additionally, Xcalia spearheaded JDO and worked on EJB 3 standards. Along with IBM, BEA, Oracle and SAP, Xcalia has been an instrumental part of the development of SDO and DAS. Xcalia has one of the most mature implementations of these technologies on the market.

Announcement Date: March 18, 2008
Deal Value: Undisclosed

Liaison Technologies acquires Contivo

Liaison Technologies, Inc. a global data management and business-to-business integration services provider, has acquired Contivo, Inc., a provider of application independent automated data transformation (or mapping) software. The deal comes on the heels of Liaison's recent announcement of its merger with Anilinker, a European integration services company. The addition of Contivo brings a wealth of strategic technology, intellectual property, and expert resources to Liaison's organization. The company plans to leverage this innovative technology to help customers' create, migrate, and own their own business-critical maps, no matter what integration platform they select.

Announcement Date: March 18, 2008
Deal Value: Undisclosed

LiveWire Mobile acquires Groove Mobile

LiveWire Mobile, Inc., a subsidiary of NMS Communications Corporation and a global provider of managed personalization services for mobile operators, acquired Groove Mobile, Inc., a provider of mobile music solutions. The acquisition will enable LiveWire Mobile to meet operators' growing demand for a portfolio of managed services, including ringback tones, ringtones, full-track music and video downloads, delivered through an integrated storefront. This acquisition represents a major milestone in solidifying LiveWire Mobile's early leadership position in the large and rapidly growing market for mobile personalization services. The acquisition also provides LiveWire Mobile with the ability to manage all music and video related content from an integrated storefront to provide operators with a single managed service and subscribers with a superior music experience.

Announcement Date: March 18, 2008
Deal Value: $14.5 Million

EDS acquires Nexagent

EDS has acquired the assets of Nexagent (U.K.), a provider of hardware and software solutions for network service provisioning and advanced IP-based services across multi-network environments. Nexagent develops software tools that enable carriers, systems integrators and virtual network operators automate and accelerate the design, provisioning and management of a client's IP VPN. This capability is particularly valuable when the network connection spans multiple carriers and multiple regions. This acquisition builds upon EDS' ongoing investment in the company's networking services capabilities and the EDS Global Services Network, one of the world's highest capacity and most resilient private networks. The GSN connects more than 500 EDS service delivery sites worldwide to clients though a single, secure, fully redundant network. Leveraging Nexagent's technology enables EDS to automate and accelerate the design, transition and operation of enterprise service delivery.

Announcement Date: March 19, 2008
Deal Value: Undisclosed

RCM Technologies acquires NuSoft Solutions

RCM Technologies, Inc. acquired NuSoft Solutions, one of the leading Microsoft consulting firms headquartered in the Midwest, specializing in Enterprise Business and Technology Solutions. NuSoft is a Microsoft Gold-Certified Partner and Dell Partner with multiple centers of excellence and sales locations. NuSoft provides its customers with comprehensive enterprise solutions across numerous aspects of the technology spectrum, including Business Intelligence, Collaboration and Portals, Custom Application Development, Education Systems, Embedded Expertise and Infrastructure Design. By acquiring NuSoft, RCM has added a foundational technology layer to its already strong and diverse Enterprise Business Solutions Group, whose role includes being an authorized sales agent and reseller for some of the world's largest software firms.

Announcement Date: March 19, 2008
Deal Value: Undisclosed

Portrait Software acquires Million Handshakes

Portrait Software (U.K.), a provider of Customer Interaction Optimization software, is acquiring Million Handshakes AS, a Norway-based provider of outbound campaign management and dialog marketing software. The acquisition brings to Portrait powerful new marketing technology, around 100 new customers, and a proven software-as-a-service (SaaS) capability. The acquisition completes Portrait's marketing application suite, which now delivers intelligent dialog for inbound and outbound communications across all customer channels. The integration with Portrait's best-of-breed customer analytics makes it the first complete marketing applications suite to be based on .NET, offering a compelling and fully integrated marketing solution for applications across all stages of the customer lifecycle.

Announcement Date: March 19, 2008
Deal Value: Undisclosed

Synopsys to buy Synplicity

Synopsys Inc., which makes semiconductor design and manufacturing software, is acquiring Synplicity Inc., a supplier of innovative field programmable gate array (FPGA) and IC design and verification solutions that serve a wide range of communications, military/aerospace, semiconductor, consumer, computer, and other electronic applications markets. When completed, the acquisition will significantly expand Synopsys' technology portfolio, channel reach and total addressable market. In addition to Synplicity's solutions for FPGAs, Synopsys will gain a differentiated rapid prototyping portfolio that complements its virtual prototyping business. Combining Synplicity's hardware-based rapid prototyping and Synopsys' software-based virtual prototyping solutions will enable electronics companies to meet tight market windows with proven designs, even as software content continues to grow exponentially.

Announcement Date: March 20, 2008
Deal Value: $227 Million

ADLINK Technology is acquiring Ampro

ADLINK Technology is acquiring Ampro Computers Inc., a pioneer in the "embedded PC" industry. The company originated the PC/104, PC/104-Plus, and EBX standards for stackable single-board computers, co-created the popular EPIC standard for highly compact full-function SBCs, and more recently began offering a rapidly growing line of computer-on-module (COM) products in ETX, XTX, and COM Express formats. The acquisition, characterized as highly synergistic by both companies' CEOs, merges Ampro's expertise in board-level embedded computers with ADLINK's low-cost manufacturing capabilities and products targeting the industrial control and communications markets. ADLINK will gain access to Ampro's expertise in developing 'extreme rugged' board-level embedded computers, as well as its strong and mature U.S. sales channel.

Announcement Date: March 21, 2008
Deal Value: Undisclosed

As we wrap-up the first quarter of 2008, the global value of announced M&A in the quarter was $715 billion, down 31 percent from the same period last year. It was the least active first quarter since 2004 as banks reined in borrowing and economic uncertainty weighed on CEO confidence. Europe was the most targeted region for overall M&A, accounting for nearly 40 percent of global deal volume so far this year. M&A was not the only arena that was hit in the first quarter of 2008. The slowing IPO market has also been dampened by investors spooked by the credit crisis. One of the bright spots in the first quarter (besides solid levels of activity in Europe) was the commitment to M&A by strategic buyers. Though Private Equity all but disappeared in tech deals this past quarter, corporate devised strategies and executed deals to further those missions.

Deal highlights for the week include:

Microsoft acquires Komoku

Microsoft hopes to beef up its security capabilities with the acquisition of Komoku, a developer of rootkit detection products. Komoku develops products that detect rootkits, malicious software that can take control of a computer in a way that often evades detection by other anti-malware software. The company has served organizations with high security requirements, such as the Department of Homeland Security, the Department of Defense, and the Defense Advanced Research Projects Agency. Microsoft plans to add Komoku's technology into its Forefront and Windows Live OneCare products. Forefront is Microsoft's suite of enterprise security software that includes malware protection for PCs, security tools for Exchange and SharePoint servers, and gateways that secure remote access to corporate data. OneCare is a package of security software for PC users that scans for viruses and spyware, backs up files and helps with network management.

Announcement Date: March 21, 2008
Deal Value: Undisclosed

Cidron Services attempts to buy TietoEnator

Cidron Services Oy, a company indirectly owned by Nordic Capital Fund VI, has made a cash tender offer for all shares and stock options in TietoEnator Corporation, one of the largest IT services providers in Europe. Cidron Services believes that TietoEnator occupies an attractive position in the IT Services market as a market leader in the Nordic region. TietoEnator's excellent customer base built upon long-term relationships with well-known companies and institutions forms a solid foundation for the business and provides future opportunities for growth and market share gains. Furthermore, TietoEnator has a deep pool of talented employees with strong vertical expertise. TietoEnator, however, also faces various significant challenges. These challenges require a successful completion, in a quicker pace, of the restructuring program that has already been initiated. This will be accomplished at the same time as TietoEnator is facing increasing competition from global service providers combined with a slowing market growth.

Announcement Date: March 24, 2008
Deal Value: $1.71 billion

L-1 Identity Solutions to acquire ID Systems Business from Digimarc Corporation

L-1 Identity Solutions, Inc., a leading provider of identity solutions and services, is acquiring the ID Systems business of Digimarc Corporation. L-1 believes that the combination of L-1 and Digimarc's Secure ID business will bring significant synergies and benefits to the identity management industry. The combined security features will deliver best-in-class protection to produce the most secure credentials possible and the industry knowledge of the combined teams will foster the development of superior next-generation security functionality for future applications. The increased industry knowledge and cross-border relationships will help secure identities across the globe in emerging markets such as Russia and Asia-Pacific, as well as with Canadian and Mexican biometric credentialing programs. Leveraged synergies between the businesses will reduce the cost structures of both organizations to drive greater operational efficiency and shareholder value.

Announcement Date: March 24, 2008
Deal Value: $250 Million

Data Call Technologies to acquire Podcast Ready

Data Call Technologies, Inc. is acquiring Podcast Ready, Inc., a software and Web services company whose products and services permit the aggregation and distribution of audio and video content directly to mobile and stationary devices. Podcast Ready provides a unique set of software and content services that facilitate the widespread adoption of podcasting, making subscribing and listening to podcasts easier and more portable. The acquisition would strengthen Data Call's present business strategy of expanding its products and services into fast growing markets complimentary to those of Data Call's existing markets. The company believes that the market for audio and video content provides tremendous business opportunities and through this acquisition Data Call reinforces its long-term commitments to emerging new media markets. PRI has an existing infrastructure through which it can provide advertisers with content verification, enabling those advertisers to match their ads with custom tailored content to specific demographics. PRI's technological capabilities integrate easily into Data Call's technology, products and services.

Announcement Date: March 24, 2008
Deal Value: Undisclosed

Crisp acquires IMSafer

Crisp (U.K.) has acquired IMSafer, a highly recognized Internet child safety brand. Additionally, the U.S. headquarters for Crisp has been established in Beaverton, Ore. The overriding goals of both Crisp and IMSafer are to protect children from online predators. Together, the companies provide a unique proposition, which allows young people the freedom to explore the Internet while giving parents the peace of mind that their children are protected. The IMSafer software identifies abusive and sexual concepts and phrases and immediately informs parents of the inappropriate sections of online conversations. This complements Crisp's relationship analysis tools, which detect the increasingly sophisticated grooming approaches utilized by more devious predators in instant messaging (IM) chat. This acquisition brings together the sector's two leading exponents of proactive online child protection. It will allow Crisp to create more robust and comprehensive child protection systems, which will make it even harder for predators to snare children through inappropriate online relationships.

Announcement Date: March 24, 2008
Deal Value: Undisclosed

Versata to acquire TenFold

Versata Enterprises, Inc., provider of enterprise business solutions is acquiring TenFold Corporation, provider of EnterpriseTenFold SOA, an SOA-compliant, Ajax-enabled solutions framework for adding functionality to existing applications and building enterprise-scale applications. TenFold licenses its patented technology for applications and services development, EnterpriseTenFold SOA, to organizations that face the task of transforming obsolete applications or building complex SOA-compliant applications. TenFold's history of providing its customers and partners with significant savings in development and maintenance complements Versata's strategy of lowering customers' total cost of ownership with solutions to accelerate development, reduce ongoing maintenance, and drive business impact.

Announcement Date: March 24, 2008
Deal Value: Undisclosed

Aegis Communications is acquiring AOL Call Center Business

AOL is selling its call center business in India to Aegis Communications, the unit of Essar Group. Aegis Communications is known to have beaten Wipro among others for the deal. The facility has 2,000 people, with 1,200 in the call center, 500 in the BPO/KPO space, with the rest in software. It handles technical support and customer service of clients through dial-up or broadband. Aegis, which has approximately 10,000 people in call centers in India and the U.S., offers CRM, database management, analytical and market intelligence, customer care, tele-marketing, and help-desk services, to telecoms and financial companies.

Announcement Date: March 25, 2008
Deal Value: $100 Million

ACS acquires Communications Development

Affiliated Computer Services, Inc. has acquired Communications Development, Inc., a provider of outsourced marketing, consulting and advertising services to the transportation industry. This acquisition strengthens ACS' position in the transportation industry. In addition to building scale and opening additional opportunities to provide incremental BPO services to its existing clients, Communications Development will enhance ACS' ability to compete for new business from larger carriers. Communication Development's operations will be consolidated with those of ACS Expedited Solutions, providers of TripPak SERVICES (TM), a trucking document delivery, processing, scanning, and storage solution, and ACS MultiMedia Advertising. Together they will supply marketing, advertising, and retention solutions tailored to the unique needs of the long-haul trucking and transportation market.

Announcement Date: March 25, 2008
Deal Value: Undisclosed

SolidWorks acquires Priware

SolidWorks Corporation has acquired Priware Limited (U.K.), a SolidWorks Gold Partner and developer of CircuitWorks software, which bridges the gap between electronic CAD and mechanical CAD software. CircuitWorks enables engineers to accelerate and simplify electronic product design by integrating ECAD files into their 3D models and 2D drawings. The acquisition gives engineers around the world a platform to integrate electronic and mechanical designs for the millions of electronic products developed every year. Previously, much of electronics development involved designing the product to fit around the electronic components. SolidWorks and CircuitWorks together let engineers design PCBs to fit inside ever more stylized product frames, whether an MP3 player or the dashboard of a new car. SolidWorks and CircuitWorks combined let mechatronics engineers use digital modeling to improve product quality, reduce prototyping and streamline development.

Announcement Date: March 26, 2008
Deal Value: Undisclosed

Four Soft to merge into TAKE Solutions

TAKE Solutions and Four Soft Ltd. both leading providers of IT products and solutions in the Supply Chain Management space announced their intent to merge. The combination will create a truly global, comprehensive company with one of the largest product offerings in Supply Chain Management. Four Soft has full service products/offerings for the service provider segments. TAKE Solutions' product offerings complement this very well on the enterprise side. Four Soft Ltd. is the perfect addition to TAKE Solutions; its strong presence in the U.S. and Asia Pacific markets complements Four Soft's dominance in Europe and Japan.

Announcement Date: March 26, 2008
Deal Value: Undisclosed

Parallels acquires ModernGigabyte

Parallels has acquired ModernGigabyte, maker of the ModernBill automated billing system and other hosting automation solutions. ModernBill customers will benefit from Parallels Open Platform initiatives such as the Application Packaging Standard (APS), which will help them drive more revenue from their existing clients. The acquisition provides Parallels with a complete hosting control panel and billing system for small- to medium-sized service providers and hosting resellers that purchase dedicated servers with pre-loaded software. Now, service providers can integrate with over 15 popular control panels supported by ModernBill, as well as special bundled offerings with the Parallels Plesk Control Panel. The acquisition also opens up new sales channels for software vendors that develop applications based on the APS Standard, which will drive greater adoption of SaaS solutions.

Announcement Date: March 31, 2008
Deal Value: Undisclosed

3i Group to acquire Civica

U.K. buyout shop 3i Group plc, agreed to take software provider Civica plc private. Civica, which develops and services software for government and public sector projects, said its hopes of leading consolidation in the sector had been hampered by a lack of access to capital and disappointing share price. Civica's customers are largely public sector authorities in the U.K., Australia and Singapore. It has grown organically and by acquisition, now employing about 1,300 people worldwide. The technology sector is a key focus for 3i. Civica's business reflects 3i's global presence, and the underlying organic growth prospects for Civica remain strong. In addition, 3i said it was committed to supporting Civica's acquisitive strategy and to continue to build its international presence.

Announcement Date: March 31, 2008
Deal Value: $440 Million

Buzznet acquires Qloud

Buzznet, Inc., the social media community which has heavy music content, has acquired Qloud, the social music Web service. Qloud is backed by AOL Founder Steve Case. The company, which has a small team of employees, went live back in 2006 but experienced explosive growth with the launch of the Facebook platform. There is no word on the actual price of the acquisition price claims are that it was a "little over their last round valuation." Buzznet's most recent round of funding was reported yesterday at $25 million.

Announcement Date: March 31, 2008
Deal Value: Undisclosed

HP to acquire Tower Software

HP is acquiring Tower Software (Australia), a document and records management software company. The deal will enable HP to expand its offerings in the fast-growing electronic discovery and compliance software market. The acquisition of Tower will add electronic records management to HP Software's existing e-discovery and compliance capabilities in information collection and retention. This includes both records management and identification, which have become increasingly important for organizations due to rules and regulations such as the Federal Rules of Civil Procedure, the Sarbanes-Oxley Act and the Data Protection and Freedom of Information Acts. Combining HP's and Tower's overall software capabilities will enable customers to rapidly identify electronic business records from general business communication, collect those business records in a scalable and high-performance archive platform and preserve them for long-term future use in legal discovery or compliance activities.

Announcement Date: March 31, 2008
Deal Value: Undisclosed

ANSYS to acquire Ansoft Corporation

ANSYS, Inc., a global innovator of simulation software and technologies designed to optimize product development processes, is acquiring Ansoft Corporation, a global provider of Electronic Design Automation software. According to the two companies, a strategic, complementary business combination of ANSYS and Ansoft will create the leading provider of 'best-in-class' simulation capabilities. Ansoft is a developer of high-performance EDA software. The software is based on more than 25 years of research and development by world-renowned experts in electromagnetics, circuit and system simulation. The acquisition of Ansoft is ANSYS' first foray into the broader EDA software industry and will enhance the breadth, functionality, usability and interoperability of the combined ANSYS portfolio of engineering simulation solutions. The combination is expected to increase operational efficiency and lower design and engineering costs for customers, and accelerate development and delivery of new and innovative products to the marketplace.

Announcement Date: March 31, 2008
Deal Value: $832 Million

Pohlad Family of Companies acquires Avtex

The Pohlad family of companies has expanded its IT holdings for with the addition of Avtex, Inc., a unified communications solution provider. Avtex designs, installs and supports technology needed for call centers and customer contact centers, as well as IP telephony systems and other messaging applications for businesses. The company has grown rapidly by providing premise based and hosted unified communications solutions that bring together telephone, email, text messaging and call centers into a single, highly secure customer contact system that transcends traditional phone and data systems. Since 1998, Avtex has acquired five companies to expand its services and geographic reach. Most recently it acquired Perimeter Technology, expanding its southeast operations. The acquisition also rounds out the three-pronged IT strategy the Pohlad organization has been pursuing in the managed services IT arena with its acquisitions of Inetium in 2006 and Arcadia in 2007.

Announcement Date: March 31, 2008
Deal Value: Undisclosed

De laatste weken van mei waren zeer actief in termen van transacties in de VS, Canada, Europa, India en Azië. Iedereen zag de 'koppen' van HP's aankondiging van de grote belangrijke transactie met EDS. Accenture dat ook op de lijst van HP stond, deed een andere deal en nog een die daarop weer kort opvolgde. En Media gigant CBS kocht Internet content favoriet CNET Networks.

Hoewel een rustige acquisitie van Oracle in de verzekeringsbranche zonder veel ophef, vraagt dit een moment van attentie. Hoewel er heel wat acquisities waren in deze sector de laatste jaren van tactische en financiële investeerders, is het de eerste keer dat een top software onderneming met wereldwijde aanwezigheid een op de verzekeringswereld gespecialiseerde software onderneming koopt. Het belangrijkste doel is de software hiervan te gaan uitrollen in deze verticale markt. Hiermee komt Oracle rechtstreeks in concurrentie met de traditionele leveranciers van verticale verzekering applicaties. Dit is niets nieuws voor Oracle. Het was in 2005 toen Oracle dezelfde tactiek toepaste in de detailhandel branche door de overname van Retek. Die actie veroorzaakte een grootschalige consolidatie in de detailhandel branche, zoals bij SAP (Khimetrics, Triversity) en firma's zoals Epicor (NBS Retail), Red Prairie (Blue Cube), nog een keer Oracle met ProfitLogic etc.
Het is interessant om nu zien wat er los komt aan M&A bewegingen in de verzekering branche.

Hoogtepunten van transacties in week van 17 mei waren:

DG FastChannel to acquire Enliven Marketing Technologies

DG FastChannel Inc is acquiring Enliven Marketing Technologies Corp., a developer of Internet marketing software. The incredible growth rates for online media, and specifically rich media advertising, have taken the world by storm, and brands and advertisers are seeking efficient solutions that bridge the gulf between traditional and new media. The merger will combine DG FastChannel's leadership in traditional advertising and media distribution services with Enliven's groundbreaking digital marketing technologies for online, mobile and in-game advertising solutions. The transaction firmly establishes DG FastChannel as a full participant in the Internet and mobile advertising space. As a combined entity, DG FastChannel and Enliven will address the video market of the future more effectively, and the business combination will enhance the prospects of each company.

Announcement Date: May 8, 2008
Deal Value: $98 Million

Perot Systems acquires Original Solutions

Perot Systems Corporation has acquired Original Solutions Limited, a professional IT services firm providing applications development and management services to clients in Ireland and the UK. Original Solutions' competencies include Web applications and client server development, enterprise integration and legacy systems re-engineering, as well as significant expertise in IT Service Management and IT Infrastructure Library process management. Based in Limerick and Dublin, Ireland, Original Solutions employs approximately 90 people and reported revenues of euro 9 million in 2007. Original Solutions strengthens Perot's portfolio of services and capabilities in the Irish and EMEA markets.

Announcement Date: May 12, 2008
Deal Value: Undisclosed

Trace Systems acquires TCP Network Solutions

Trace Systems Inc., a systems integrator and technical services firm that provides comprehensive IT, communications, and other C4ISR services and solutions for the U.S. defense, homeland security, and intelligence community, acquired TCP Network Solutions, Inc., a defense information technology and communications solutions provider. The acquisition of TCPNS is part of Trace's strategy to establish itself as a contractor of choice within the Department of Defense. TCP has established themselves as trusted leaders in the Army communications and IT environment. TCPNS has been the architect for many deployed C4 networks, providing its customers with technical leadership and support, including the design, integration and testing of next-generation tactical communications and wireless networking solutions, as well as ongoing IT and networking support for currently deployed military and commercial tactical systems.

Announcement Date: May 12, 2008
Deal Value: Undisclosed

HP to buy EDS

Hewlett-Packard Co. is buying Electronic Data Systems Corp. in a deal that will create the second largest technology services provider behind IBM. It's a field dominated by IBM Corp., which generated $54 billion in revenue from technology services last year. HP's technology services revenue will more than double to more than $38 billion with the addition of EDS, which had $22 billion in revenue last year. Once the marriage is completed, HP estimates it will have about a 7 percent share of the technology service market compared with IBM's 10 percent share. The deal will enable HP to leapfrog Fujitsu and Accenture in the niche. To make sure the EDS takeover pays off, HP indicated it will make significant layoffs as it eliminates overlapping jobs and other expenses. The combined services business would have 210,000 employees and operations in more than 80 countries. It will retain the EDS brand and EDS' Plano, Texas headquarters.

Announcement Date: May 12, 2008
Deal Value: $12.6 Billion

Oracle to buy AdminServer

Oracle is acquiring AdminServer, a rapidly growing provider of insurance policy administration software. AdminServer's product offering will become a core component of Oracle's existing insurance industry software that is used by more than one thousand insurers, including 20 of the top 20 global insurance companies. The AdminServer product line will significantly accelerate Oracle's investment in the insurance industry and be complemented by Oracle's existing insurance products such as Oracle Billing, Siebel Claims and Siebel CRM for Insurance. The combination of Oracle and AdminServer will result in a comprehensive, end-to-end insurance policy management solution that can manage multiple insurance product lines such as life, annuities and reinsurance. Additionally, AdminServer's management and employees will form a dedicated global business unit within Oracle, which will focus on providing critical operational applications to the insurance industry.

Announcement Date: May 12, 2008
Deal Value: Undisclosed

GlobalLogic acquired Dalian 3CIS

GlobalLogic Inc., provider of outsourced software product engineering services, has expanded its reach in China and acquired Dalian 3CIS, a China-based software development company. GlobalLogic has raised nearly $50 million in VC funding from firms like Sequoia Capital India, New Atlantic Ventures and New Enterprise Associates. Dalian 3CIS joins GlobalLogic's existing development center in Beijing in helping software product companies accelerate their time to market. The acquisition is part of GlobalLogic's overall strategy to build and retain the world's best software R&D engineers and help its technology clients enter new markets. GlobalLogic's Beijing software delivery center was established in November 2007. It specializes in developing software products for the telecommunications, mobile, business and consumer internet, and embedded technology markets.

Announcement Date: May 13, 2008
Deal Value: Undisclosed

SOA Software acquired LogicLibrary

SOA Software Inc., provider of SOA and Web services management, security and governance solutions, has acquired LogicLibrary, an SOA repository and governance vendor. This acquisition combines two recognized leaders, creating a dominant SOA Governance company with an impressive customer base. LogicLibrary focuses on SOA Development Governance with a best-of-breed enterprise repository providing broad support and governance for development assets /services and deep integration and federation with IDEs and application development point solutions. The combination of the two companies creates the most comprehensive Integrated SOA Governance Automation solution that spans all lifecycle stages and governance types from Planning to Development, Policy, and through Operational Governance.

Announcement Date: May 13, 2008
Deal Value: Undisclosed

Accenture to acquire Origin Digital

Accenture is acquiring Origin Digital, Inc., provider of rich video capture, transformation and delivery services to content owners. The digital market has reached critical mass, and bandwidth is now both affordable and economical, driving a revolution in digital media and creating challenges and exciting opportunities for Accenture's clients. Origin Digital is well established in the digital media supply chain and has a number of Fortune 500 companies in its client portfolio that are also Accenture clients. The acquisition will expand Accenture's ability to help clients grow their digital media revenue through Origin Digital's specialized expertise in reaching new customers via mobile, broadband, IPTV and video-on-demand services. The addition of Origin Digital video capabilities to Accenture's Digital Media Services group will also complement the experience it developed in music through our acquisition of Digiplug last year.

Announcement Date: May 14, 2008
Deal Value: Undisclosed

smartFOCUS acquires ASTECH InterMedia

smartFOCUS, the international provider of multi-channel marketing software headquartered in the UK, has acquired ASTECH InterMedia, a leader in data-driven marketing solutions for the news media industry, headquartered in the U.S. The company, founded in 1992, supports the strategic data-driven marketing initiatives of more than 200 newspapers worldwide. Its innovative marketing solutions include a variety of consulting and education services, application-specific software and data products. The acquisition enables smartFOCUS to consolidate its international presence in the news media industry, adding over 200 ASTECH clients to the smartFOCUS European news media client portfolio, positioning smartFOCUS as a leader in this key vertical market.

Announcement Date: May 14, 2008
Deal Value: Undisclosed

More Mobile buys 12snap Lokomobil

More Mobile Relations (Norway), the Telenor subsidiary's major investment in mobile marketing, is acquiring 12snap-Lokomobil (Sweden). The aim is a substantial expansion in the Nordic market with a clear leadership role. More Mobile Relations is growing fast and is already the largest mobile marketing company in the Nordic region with over 30 employees. In March 2008, the company bought Active Loop Marketing in Norway and N'volve in Denmark. The Telenor Group is founder and shareholder of More, but More is an independent company which provides operator-independent services. The company is now moving into Sweden with the purchase of 12snap-Lokomobil. 12snap-Lokomobil was launched in 2002, and has already achieved highly-acclaimed campaigns for major organizations, including Pepsi and ATG. In the past, SMS campaigns were the main focus, but the company is now adopting multi-media solutions such as MMS and mobile sites.

Announcement Date: May 14, 2008
Deal Value: Undisclosed

eFuture acquires Wangku Hutong Information Technology

eFuture Information Technology Inc, a provider of front-end supply chain management software and services in China, has acquired a majority of Wangku Hutong Information Technology Co., Ltd., an e-commerce company in China with a focus on the retail and fast-moving consumer goods industries. With the acquisition, eFuture looks to deepen its relationship with Wangku and continuing to pioneer e-commerce services in China's rapidly growing retail and fast-moving consumer goods industries. In April 2008, eFuture and Wangku launched a B2B Website platform for small- to medium-size suppliers and retailers. The online platform provides a searchable database of subscriber-posted listings focusing on the retail and consumer goods industries with the goal of helping both China's local and overseas suppliers enter into retail stores across China.

Announcement Date: May 14, 2008
Deal Value: Undisclosed

McKesson acquires Vivalog

McKesson has acquired Vivalog LLC, a provider of Web-based solutions, including its MyPACS.net medical imaging reference site, that enable radiologists, cardiologists, and other imaging specialists to efficiently organize and share image and reference case information needed during daily practice. This portfolio extends current hospital imaging and information management systems with reference case management and clinical conferencing capabilities that result in rich, multimedia knowledge repositories to assist in diagnostics as well as research and training. With this solution, imaging specialists will be able to spend fewer hours each week preparing for rounds and conferences, freeing up more time for patient care and revenue-generating activities. Furthermore, this solution offers a constantly growing decision support resource which allows imaging specialists to efficiently look up reference cases when deciding on a diagnosis, helping to reduce diagnostic errors.

Announcement Date: May 14, 2008
Deal Value: Undisclosed

Comcast to acquire Plaxo

Comcast Corp. is buying contact management company Plaxo Inc. and plans to incorporate into all its offerings features intended to help people synchronize their address books and connect socially online.
The Philadelphia-based cable company said social networking and other services will be added to its Comcast.net, Fancast.com and Fandango.com Web sites. Cable subscribers eventually will also be able to access the services through their set-top boxes and other devices. Comcast management thinks the combination of Plaxo and Comcast together can supercharge both company's products and is looking at Plaxo to become the social media backbone of its products. Both companies hope to expand their services across different devices.

Announcement Date: May 14, 2008
Deal Value: Undisclosed

OpSec Security acquires P4M GmbH

OpSec Security, Inc., a division of OpSec Security Group plc (UK) and provider of anti-counterfeiting technologies, software and services, acquired P4M GmbH (Germany), provider of services for the protection and management of products, brands, and channels on the Internet. P4M's enables brand owners to detect illegal distribution of digital media, identify counterfeit and gray market goods on e-commerce sites, and measure online brand image and customer satisfaction. The acquisition of P4M extends OpSec's capabilities in three fast-growing areas online: anti-piracy to protect unauthorized distribution of digital content, brand monitoring to provide customer and market intelligence, and channel management to optimize online sales strategies. The combined company will provide the industry's most comprehensive solution for integrated physical and online brand protection across the entire enterprise lifecycle.

Announcement Date: May 15, 2008
Deal Value: Undisclosed

CBS Corporation to acquire CNET Networks

CBS Corporation is acquiring CNET Networks, Inc. CNET Networks owns many of the Internet's leading entertainment, news and information sites including CNET, ZDNet, GameSpot.com, TV.com, mp3.com, CNET news.com, UrbanBaby, CHOW, Search.com, BNET, MySimon and TechRepublic. The acquisition will make CBS one of the 10 most popular Internet companies in the U.S., with a combined 54 million unique users per month, and approximately 200 million users worldwide. CNET Networks will add a tremendous platform to extend CBS' complementary entertainment, news, sports, music and information content to a whole new global audience. Together, CBS and CNET Networks will have significant additional exposure to the fastest-growing advertising sector and can accelerate growth through a number of new content, promotion and advertising initiatives.

Announcement Date: May 15, 2008
Deal Value: $1.75 Billion

Ask.com to acquire Lexico

Ask.com, a search engine and wholly-owned business of IAC, is acquiring Lexico Publishing Group LLC - the owner of Dictionary.com, Thesaurus.com, and Reference.com. More than half a billion monthly worldwide searches consist of dictionary, thesaurus, and encyclopedia queries, according to comScore.
The Lexico acquisition will grow the Ask Network user base to more than 145 million unduplicated monthly unique users (UUs) worldwide, an increase of 11%, according to March 2008 comScore data. This would rank the Ask Network as the 9th largest Web property in the world - ahead of Apple Inc. and Facebook - in monthly worldwide UUs (comScore World Metrix, March 2008). Ask.com and Lexico's demographics are nearly identical, creating strong potential for cycling traffic between both companies' user bases. Lexico is a lean and fast-growing business with rapid top- and bottom- line growth, and is a natural addition for Ask.com.

Announcement Date: May 15, 2008
Deal Value: Undisclosed

Mentor Graphics acquires Ponte Solutions

Mentor Graphics Corporation has acquired the assets of Ponte Solutions, Inc., developer of model-based design for manufacturing solutions that analyze, predict, and reduce the impact of process variability during the manufacture and design of semiconductors. The Ponte team will help Mentor Graphics' design-to-silicon business unit. Ponte shares Mentor's vision for an integrated DFM offering being required as the semiconductor market continues to evolve. While Ponte was providing a solution for today's requirements, it makes sense for Ponte to align with Mentor Graphics to deliver complete DFM technology on the market-leading Calibre platform going forward.

Announcement Date: May 15, 2008
Deal Value: Undisclosed

Netezza Corporation acquires NuTech Solutions

Netezza Corporation has acquired NuTech Solutions, provider of advanced predictive analytics and optimization solutions. This acquisition will extend Netezza's capabilities in advanced analytics by giving the Company greater intellectual property and expertise in this rapidly growing field. As companies continue to increase their focus on competing on analytics, Netezza sees a growing demand in the market for the infrastructure and tools to do these advanced analytics. By acquiring NuTech Solutions, they are not only getting the analytic expertise of 30 industry-leading scientists and engineers, but also a strong depth of knowledge across key and strategic vertical markets that will further enable their customers' ability to gain strategic insight from their information assets.

Announcement Date: May 15, 2008
Deal Value: Undisclosed

SunGard to acquire Strohl Systems

SunGard is acquiring Strohl Systems Group, Inc., a provider of business continuity planning software and services. Strohl Systems will become part of SunGard Availability Services, a leading provider of information availability solutions. Strohl Systems is a leader in delivering business continuity planning solutions to community banks and credit unions via its award winning solution, PLANet. In total, Strohl has more than 2,000 customers in 20 countries including nearly 30 percent of the Fortune 500. As well as this solution suite, SunGard will acquire deep intellectual capital in business continuity including experienced developers and customer support professionals, and a dedicated software professional services organization and sales force that will continue to support existing customers and prospects.

Announcement Date: May 15, 2008
Deal Value: Undisclosed

Mascon Global acquires Ebusinessware

IT services firm Mascon Global (India) has acquired New York-based Ebusinessware Inc, which offers IT solutions and consulting to financial services firms, marking its third acquisition this year. The firm also plans to list on Nasdaq later this year. Ebusinessware provides technology solutions and services in areas like credit risk management, market risk management, credit derivatives, business process management and reference data management. Ebusinessware has about 1,100 employees, of which 750-800 are based in India and the rest in the US. The fundamental objective is to build the company into an innovation-led, domain-focused IT solutions provider.

Announcement Date: May 15, 2008
Deal Value: $35 Million

Tijd om te verkopen?

De groei van de deal stroom is afhankelijk van grootschaliger transacties, de robuustheid van de economie, kapitaal dat kan worden opgehaald door private equity bedrijven en de relatieve stabiliteit van interest percentages en kapitaalmarkten.
Ondernemingen die denken dat private equity een tijdelijk fenomeen is zullen achterblijven.
Ze zullen de concurrentie met private equity m.b.t. deals moeten erkennen en constateren dat een zitten blijven en wachten houding niet werkt. Voor iedereen die een exit overweegt, de huidige M&A markt is gezond en robuust voor de termijn die we nu kunnen overzien.
Ondanks positieve vooruitzichten kunnen technologie deals unieke uitdagingen inhouden, in het bijzonder als het gaat om houdbaarheid van het business model, kwaliteit van de omzet en cashflows. Waardering van intellectuele eigendom en andere immateriële activa, multiculturele verschillen en fusie integratie zijn eveneens onderwerpen die complicaties in zich bergen.

Verkopers moeten ervoor zorgen dat ze de benodigde expertise in huis hebben incl. de benodigde externe transactie advisering om in de complexe doolhof van mogelijkheden de beste fit, transactie structuur en condities te kunnen selecteren en te optimaliseren. Naast de economische factoren en omstandigheden is de timing van een M&A project wellicht de meest kritische factor bij het slagen en het uiteindelijk bereiken van de waardering/ prijs/ transactie doelstellingen. Timing kan afhangen van het moment waar je staat in de levenscyclus van je onderneming, positief momentum in omzet en winstgroei, cliënten aanwas en productvernieuwing. Externe sector gerelateerde zullen ook in aanmerking genomen moeten worden bij M&A timing: een concurrent die wordt overgenomen, een toename in deal activiteit die op consolidatie duidt, of een grotere nieuwe partij die jouw markt betreedt. Wat normaliter het geval is in M&A; hoe eerder je wordt overgenomen in een periode van technologie verschuiving of consolidatie des te beter is je onderhandelingpositie.

Waarderingen

Waarderingen zijn flink gezakt in 2008 tot op substantieel lagere niveaus. We zullen moeten wachten op herstel va de aandelenmarkt om te kunnen vergelijken. Meer normaal als referentie punt is de situatie per 31/12/07:

Software Industry Public Peer Group Valuations (as of December 31, 2007):

Software Sectors TTM EV/S Multiple

Digital Media 1.61 x
Enterprise Applications 3.67 x
Business Intelligence 4.12 x
Enterprise Content Management 2.08 x
Supply Chain Management 2.25 x
Enterprise Infrastructure 3.04 x
Connectivity/Legacy Extension/Web Services 2.42 x
Software Development Tools 1.83x
Storage 2.49 x
Gaming & Entertainment 1.75 x
Internet Infrastructure 4.04 x
Internet Pure Plays 2.93 x
IT Services 0.83 x
Security 3.62 x
Wireless 0.99 x
Vertical Market Software
Energy and Environment* 5.37 x
Engineering 2.74 x
Financial Services Industry 2.73 x
Government/DOD/Homeland Security 1.24 x
Healthcare Industry 2.62 x
Other Vertical Markets 2.14 x