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Update on M+A Activities
Business Strategies Group Ltd, July 2012, Pages: 10
This is an updated edition of this report which was last published in January 2012.
This is BSG’s biannual report detailing the latest mergers and acquisitions in Asia’s B2B media sector. In 2011, 16 Asian B2B media deals were completed and BSG estimates the total value of the acquisitions to be US$1.67 billion. This resulted in an average deal size of US$104 million in the year.
The 2011 figure was heavily skewed by one very large deal. The Silver Lake Partners investment in the Alibaba Group was valued at US$1.6 billion. If the Alibaba deal is excluded, the estimated value of the remaining 15 acquisitions was US$71 million, with an average deal size of US$4.7 million – that is down from the 2010 average of US$6.8 million.
In the first half of 2012, a total of seven deals were completed with an estimated total value of US$54 million. The average deal size of the seven transactions in the first half of 2012 was up from the 2010 and 2011 figures – at an average of US$7.8 million.
Of the seven transactions in the first half of 2012, each China and Australia recorded three transactions. The remaining one was in Malaysia. The larger deals recorded in the period were a Global Sources deal and a Tarsus deal. In March, Global Sources acquired a clothing and accessories show paying approximately US$17.3 million for an 80% stake. In April 2012, Tarsus acquired a 50% stake in an automotive show in Guangzhou for a maximum price of US$18.2 million.
MOST ACQUISITIVE COMPANIES
ANALYSIS BY B2B SEGMENT
TRANSACTIONS IN FIRST HALF OF 2012
FIGURE 1: ALL TRANSACTIONS TRACKED, 2002 – JUNE 2012
FIGURE 2: ALL TRANSACTIONS TRACKED 2002 – JUNE 2012 (EXCLUDING 2005 ALIBABA/YAHOO & 2011 SILVER LAKE PARTNERS/ALIBABA)
FIGURE 3: TRENDS IN DEAL VALUES (US$ MILLION), 2002-2011
FIGURE 4: TRENDS IN DEAL NUMBERS, 2002-2011
FIGURE 5: AVERAGE DEAL SIZE (US$ MILLION), 2002 – JUNE 2012
FIGURE 6: TOP ACQUIRING COMPANIES, 2002 – JUNE 2012
FIGURE 7: DEALS BY B2B SEGMENT, 2002 – JUNE 2012