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    IT & Telecom Q4 2020

    Q4 2020 IT Telecom

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
      • GCI Liberty, Inc.
      • Liberty Broadband Corporation
      • $12,494.36
      • Epicor Software Corporation
      • Clayton, Dubilier & Rice, LLC
      • $4,700.00
      • InSite Wireless Group, LLC
      • American Tower Investments LLC
      • $3,500.00
      • Segment.io, Inc.
      • Twilio, Inc.
      • $2,916.17
      • Postmates, Inc.
      • Uber Technologies, Inc.
      • $2,650.00
      • Beach Holding Corporation
      • Leo Cable, LP
      • $1,950.00
      • Planview, Inc.
      • TA Associates Management, L.P.; TPG Captial, L.P.
      • $1,600.00
      • Open Systems International, Inc.
      • Emerson Electric Co.
      • $1,600.00
      • Workfront, Inc.
      • Adobe, Inc.
      • $1,500.00
      • Llamasoft, Inc.
      • Coupa Software Incorporated
      • $1,438.47

     

    Source S&P Capital IQ as of 1/8/2021 and PCE Proprietary Data

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    Will Stewart

     

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    whitcomb-woody

     

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    Michael Poole

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    Paul Vogt

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    Mackenzie Moran

     

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    Pearl-Rachel 667 x 667

     

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    Valuation

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    R Winston 667 x 667

     

    Richard Winston

    Valuation

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    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. Tracy, Ryan and Jeff Horwitz. “WSJ News Exclusive | Inside the Google-Facebook Ad Deal at the Heart of a Price-Fixing Lawsuit.” The Wall Street Journal, December 29, 2020.
    2. Wei, Lingling. “WSJ News Exclusive | China Eyes Shrinking Jack Ma’s Business Empire.” The Wall Street Journal, December 29, 2020.
    3. Wei, Lingling, “Chinese Regulators Try to Get Jack Ma’s Ant Group to Share Consumer Data.” The Wall Street Journal, January 5, 2021.
    4. Fitch, Asa. “Third Point Calls on Intel to Explore Strategic Alternatives.” The Wall Street Journal, December 29, 2020.
    5. McKellop, Mario. “Why Intel Should Outsource Its Advanced Semiconductor Manufacturing,” The Burn-In, January 7, 2021.
    6. Tilley, Aaron. “Cisco Systems Pulls Back From Smart City Push.” The Wall Street Journal, December 28, 2020.
    7. Pasztor, Andy. “FAA Issues Long-Anticipated Rules for Commercial Drones.” The Wall Street Journal, December 28, 2020.
    8. Schechner, Sam and Paul Hannon. “Global Digital-Tax Detente Ends, as U.S. and France Exchange Blows.” The Wall Street Journal, December 30, 2020.
    9. Hong, Nicole. “Zoom Executive Accused of Disrupting Calls at China’s Behest.” The New York Times, December 18, 2020.
    10. Ovide, Shira. “Microsoft’s Lessons for Google.” The New York Times, December 17, 2020.
    11. Preetipadma. “5G And IoT: What Does It Mean for Telecom Industry?” Analytics Insight, December 29, 2020.

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