Computing & internet software global report 2010.pdf - IMAP

Top 15 transactions in the Software Sector in LTM1: Oracle/Sun MicroosystemsAnnounced/Initial Filing Date: 04/19/2009 COMMENTS:Target/Issuer: Sun Microsystems Inc.The acquisition enables Oracle to better competeTotal Transaction Value ($mm USD) 8,341.51against IBM and HP as it is now both a hardwareBuyers/Investors: Oracle Corp. (NasdaqGS:ORCL)vendor and operating system supplier whilePercent Sought (%): 100.0controlling Java and Solaris.Implied Enterprise Value ($mm USD): 5,638.51In the first full year, management believes thisacquisition will raise earnings by at least 15 cents andImplied Enterprise Value/Revenues: 0.45operating profit by over $1.5 USD billionImplied Enterprise Value/EBITDA: 8.21Implied Enterprise Value/EBIT: -Headquarters-Country:Primary Industry:JapanComputer Hardware2: Adobe/OmnitureAnnounced/Initial Filing Date: 09/15/2009 COMMENTS:Target/Issuer: Omniture Inc. (Nasdaq: OMTR)Adobe will combine its content creation tools andTotal Transaction Value ($mm USD) 1,675.72ubiquitous clients with Omniture’s web analytics,Buyers/Investors: Adobe Systems Inc. (NasdaqGS:ADBE)measurement, and optimization technologies, thuschanging the e-commerce landscape across all digitalPercent Sought (%): 100.0content, platforms, and devices.Implied Enterprise Value ($mm USD): 5,638.51The new entity would help marketers in realizing theImplied Enterprise Value/Revenues: 0.45full value of their digital assets.Implied Enterprise Value/EBITDA: 8.21Implied Enterprise Value/EBIT: -Headquarters-Country:Primary Industry:United StatesInternet Software and Services3: IBM/SPSSAnnounced/Initial Filing Date: 07/27/2009 COMMENTS:Target/Issuer: SPSS Inc.Total Transaction Value ($mm USD) 1,121.61Buyers/Investors:International Business Machines Corp.(NYSE:IBM)Percent Sought (%): 100.0Implied Enterprise Value ($mm USD): 783.73Implied Enterprise Value/Revenues: 2.7Implied Enterprise Value/EBITDA: 9.96Implied Enterprise Value/EBIT: 13.19Headquarters-Country:Primary Industry:United StatesIT Consulting and Other ServicesThis deal is expected to expand IBM’s informationon-demandsoftware portfolio and business analyticscapabilities.IBM is expected to build a compelling joint portfolioonly when the deal closes which is after a year. Thiswill give its competitors time to devise their ownstrategies to compete with IBM.4: Intel/Wind River SystemsAnnounced/Initial Filing Date: 06/04/2009 COMMENTS:Target/Issuer: Wind River Systems, Inc.Intel will gain stronger software capabilities inTotal Transaction Value ($mm USD) 884.39embedded systems and mobile devices includingBuyers/Investors: Intel Corporation (NasdaqGS:INTC)smartphones, mobile Internet devices, and otherconsumer electronics devices and networkingPercent Sought (%): 100.0equipment as well as devices in the aerospace,Implied Enterprise Value ($mm USD): 793.4defense and energy sectors. Moreover, Wind RiverImplied Enterprise Value/Revenues: 2.24has thousands of customers in a diverse range ofImplied Enterprise Value/EBITDA: 20.84markets, strengthening Intel’s market reach.Implied Enterprise Value/EBIT: 32.19Headquarters-Country:Primary Industry:United StatesInternet Software and ServicesIMAP’s Computing & Internet Software Industry Global Report — 2010: Appendix B-iii