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Year End – A Time to Reflect and Aspire. Our December 2016 General Market Update

Dec 14, 2016

Year End – A Time to Reflect and Aspire. Our December 2016 General Market Update

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Dear Clients and Friends,

The report found here is our latest update on the m&a values and trends in the dozen+ sectors of the information technology industry that we follow and sometimes lead. This is our last report for 2016.

December is a time for many to reflect on their accomplishments – and to look forward to new aspirations and challenges.

Our accomplishments this year were many: we advised a wide range of clients – helping some raise capital and others buy and sell – always trying to act strategically. Our clients ranged from Agilum in the healthcare IT space, to Xignite at the cutting edge of fintech; from Singapore based Crayon Data, offering advanced predictive analytics, to Phoenix based Billing Tree; a leading provider of omni-channel, integrated payments solutions to the healthcare, and financial services industries; and several others in between.

We’re pleased that, in April, the M&A Advisor named our Jeff Trongone as an “Emerging Leader” (once called “40 Under 40”); and named our firm as the “Cross-Border Boutique Investment Bank of the Year”; in August, St. Martin’s Press published my book: The Marine Corps Way to Win On Wall Street (It’s gotten good reviews on Amazon, Forbes and elsewhere). In November, Institutional Investor again named me as among the 35 most influential people in Financial Technology; and this month, M&A received recognition from ACQ Global Advisors as TMT Advisory Firm of the Year, Boutique Investment Banking Firm of the Year, and “Game Changer of the Year”.

As we look forward, we see a global economy that has exceeded the average duration yet continues to grow, an m&a environment that remains robust, and a political environment that is simply unpredictable. Fortunately we have a roster of clients with strong prospects. So we’ll just keep our heads down and aspire to continue serving our clients diligently with a commitment to excellence – and hope for political leadership with the wisdom and ability to keep us all safe and secure, healthy and prosperous.

A few of the more interesting deals this month include:

• Symantec (Nasdaq:SYMC) acquired LifeLock (NYSE:LOCK) for $2.5bn valuing the Company at an implied 3.6x LTM revenue and 50x LTM EBITDA,
• The Allstate Corporation (NYSE:ALL) agreed to acquire SquareTrade (San Francisco, CA) for $1.4bn,
• Vantiv (NYSE:VNTV) acquired Moneris Solutions (the US business of Moneris) for $425mm,
• GTCR (Chicago, IL) acquired RevSpring and committed up to $400mm to complete this as well as pursue complementary acquisitions,
• Singapore Exchange Limited (SGX:S68) acquired Asian Gateway Investments (Singapore) for $99mm,
• Intrum Justitia (STO:IJ) acquired 1st Credit for £130mm ($161mm),
• LendingTree (NASDAQ: TREE) acquired CompareCards for $130mm,
• Broadridge (NYSE:BR) acquired M&O Systems for an undisclosed sum. Marlin & Associates acted as exclusive strategic and financial advisor to M&O Systems.

Please find the full December 2016 Market Update Report here.

We wish you and your families happy, healthy holidays and look forward to working with you in the New Year.


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