TMT Mergers & Acquisitions First Half Review

 

TMT deals have led the IPO and Corporate Finance UK landscape in the first half of 2018 and despite the macroeconomic outlook, the trend is set to continue with some notable Tech IPO’s planned for the 2nd half of 2018.

For more information or to discuss the market conditions please contact mark Soden, Managing Director, Norman Broadbent Executive Search at  mark.soden@normanbroadbent.com or +44 (0) 20 7484 0045.

NEWS

  • Axel Springer acquired a minority stake in Purplebricks, a UK-based digital real estate platform, for US$177m (26-Mar-2018)

 

  • Advent International acquired Laird, a UK-based manufacturer of electronics components, for US$1.6bn (1-Mar-2018)

 

  • Experian acquired ClearScore, a UK-based provider of online free credit score and report, for US$385m (15-Mar-2018)

 

  • NEC Corporation, has agreed to acquire Northgate Public Services, a UK based IT services company, from private equity firm Cinven for £475m (9-Jan-18)

 

  • Assystem Technologies, a France based provider of outsourcing R&D solutions backed by private equity firm Ardian has made a recommended cash offer to acquire SQS Software Quality Systems the German based and UK listed software testing and quality management company, for £280m (15-Dec-17)

 

  • Stars Group, a Canadian gaming and online gambling company which owns PokerStars, acquired Sky Betting, a UK based betting and gaming operator owned by CVC Capital Partners and Sky, to create the biggest publicly listed online-gambling company for US$4.7bn (21-Apr-2018)

 

  • Learning Technologies Group, a UK based provider of staff training software, acquired PeopleFluent, a US based provider of cloud based integrated recruiting, talent management, and compensation management solutions, for US$150m (24-Apr-2018)

 

  • TransUnion acquired Callcredit, a UK based provider of credit referencing, database marketing solutions and software analytics services, for US$1.4bn (20-Apr-2018)

 

  • Hg Capital and TA Associates jointly acquired The Access Group, a UK based provider of fully integrated business management software, for US$1.4bn (10-Apr-2018)

 

  • Following Temenos’ failed attempt to acquire Fidessa, Ion Investment Group paid US$2.1bn to buy Fidessa (3-Apr-2018)

 

  • Hg Capital and Intermediate Capital Group re-capitalised IRIS, a UK based provider of business-critical software and services, for US$1.7bn (23-May-2018)

 

  • Silver Lake took private Zoopla, a UK based provider of online property solutions, for US$3.3bn (11-May-2018)

 

  • Mayfair Equity Partners acquired GCI Group, a UK based IT services supplier, for US$270m (8-May-2018)

 

  • F-Secure acquired MWR InfoSecurity, UK based provider of cyber security solutions, for US$140m (18-June-2018)

 

  • eToro, a UK-based social trading and investment platform, raised US$100m from China Minsheng Financial Holding, SBI Group, Korea Investment Partners, World Wide Invest and other investors (21-Mar-2018)

 

  • eToro, a UK based social trading and investment platform, raised another US$50m from CM Financial after an earlier funding round of US$100m in March 2018 (26-Apr-2018)

 

  • Avast, the Czech Cyber Security firm, was one of the largest IPO’s of the year on the London Stock Exchange valuing the business at £2.4 billion (10-May-2018)

 

  • Atom Bank, a UK-based mobile-first bank, raised US$206m from BBVA and Toscafund Asset Management (7-Mar-2018)

 

  • WorldRemit, a UK based money transfer company, has raised US$40m at a US$670m valuation in a Series C funding round led by LeapFrog Investments and joined by Accel Partners and TCV

 

  • Future Finance, an Ireland based provider of flexible loans to UK students, raised US$134m from Waterfall Asset Management (24-May-2018)

 

  • Revolut, a UK based banking app providing FX, e-Wallet and insurance services, raised US$250m from DST Global, Index Ventures and Ribbit Capital at a US$1.7bn valuation (26-Apr-2018), becoming Britain’s first digital bank unicorn

 

  • Made.com, a UK-based online e-commerce platform directly providing designer furniture without third party involvement, raised US$56m from Partech Ventures, Level Equity and Eight Roads Ventures (19-Mar-2018)

 

  • INCOPRO, a UK based startup that specializes in online brand and intellectual property protection, raised US$21m from Highland Europe (18-May-2018)

 

  • Matillion, a UK based software company that offers purpose-built, native ELT solutions for cloud data platforms, raised US$20m from Sapphire Ventures and Scale Venture Partners (22-Mar-2018)

 

  • Netsparker, a UK-based web application security company, raised US$40m from Turn/River Capital (8-Mar-2018)

 

  • Duco, a UK based SaaS provider, has secured US$28m investment from Insight Venture Partners, NEX Group, Eight Roads Ventures and Cristobal Conde (29-Jan-2018)

 

  • CloudPay, a UK based provider of managed payroll services, raised US$25m from Rho Ventures, Pinnacle Investment Partners and Hercules Capital (3-May-2018)

 

  • Concentra Analytics, a UK based provider of SaaS data solutions used to visualise, model and track business operations, raised US$56m from One Peak Partners and Morgan Stanley (1-May-2018)

 

  • Yoobic, a UK based smartphone application to track retail merchandising and marketing operations, raised US$25m from Insight Venture Partners and Felix Capital (28-June-2018)

 

  • PatSnap, the UK and Singapore based developer of cloud-based intellectual property analytics and management software, raised US$38m from Shunwei Capital and Sequoia Capital (15-June-2018)

 

  • CityFibre PLC agreed to a $750 million takeover by a Goldman Sachs backed consortium – West Street Infrastructure Partners. (24-April-2018)

 

  • Private equity giant Carlyle scooped up software company Livingstone Holdings, in a deal worth around £50m (6-June-2018)

 

  • Vodafone announced a deal to buy Liberty Global’s network assets in Germany and Eastern Europe for €18.4 billion (9-May-2018)

 

  • TalkTalk signed a £1.5 billion deal with Infracapital (investment arm of Prudential) to roll out fibre across the UK (7-Feb 2018)

 

  • Cambridge Medical Robotics, a UK based provider of next-generation robotic system, raised US$100m from Zhejiang Silk Road Fund, Escala Capital Investments and Cambridge Innovation Capital (4-June-2018)