Feeds

Tech deals boost M&A activity

£5bn spent in third quarter

Remote control for virtualized desktops

Over €5bn was spent on mergers and acquisitions involving Irish firms in the third quarter, with tech-related M&As among the most valuable deals.

Overall, the value of M&As carried out in the quarter was almost three times that for the same three-month period last year.

The value of acquisitions in the first nine months of 2007 was close to €13bn, an increase of 82 per cent on the same time period in 2006.

During the first quarter of 2007, total deal value was €4.2bn, while second quarter M&As reached €3.7bn. However, while the value of deals rose during the third quarter to more than €5bn, the number of deals carried out declined from an average of 58 in the previous four quarters to 47.

The €2.9bn acquisition of Reed Elsevier US schools division by Irish educational software publisher Houghton Mifflin Riverdeep was the biggest deal carried out in the third quarter.

Irish payment services firm Alphyra's €800m reverse takeover of the UK firm Cardpoint was the second largest deal of the quarter, while Threefold's €160m purchase of Eircom's masts division was the fourth biggest deal.

Ion Equity director Joe Devine said large transactions continue to dominate in each successive quarter and that this trend is likely to continue.

"We believe that in the future the Irish M&A market is increasingly going to be dominated by a small number of mega deals each quarter," said Devine.

© 2007 ENN

Intelligent flash storage arrays

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.