Category: M&A

TEK2day Podcast #419: Guests Ken Bisconti and Bob Petrocchi – Co-Heads SS&C Intralinks

TEK2day Podcast #419: Guests Ken Bisconti and Bob Petrocchi – Co-Heads SS&C Intralinks

We had a conversation with Ken Bisconti and Bob Petrocchi who together co-lead Intralinks, an SS&C Technologies (tkr: SSNC) company. Intralinks is perhaps best known for its Virtual Data Room offering - "VDRPro" - part of a larger product portfolio that customers primarily use to securely manage M&A and related transactions. We covered a variety … Continue reading TEK2day Podcast #419: Guests Ken Bisconti and Bob Petrocchi – Co-Heads SS&C Intralinks

Broadridge’s Acquisition of Itiviti. Nothing Is Cheap.

Broadridge’s Acquisition of Itiviti. Nothing Is Cheap.

Earlier this week Broadridge (BR) agreed to acquire trading platform Itiviti for $2.5 Billion in an all cash deal from PE firm Nordic Capital. This demonstrates that growth is valued at a premium as it values Itiviti at approximately 34x 2020 Non-GAAP Operating Income and 10x 2020 Revenue. Itiviti is growing organic revenues faster than … Continue reading Broadridge’s Acquisition of Itiviti. Nothing Is Cheap.

AWS Would Do Well To Focus On The Healthcare and Government Sectors

AWS Would Do Well To Focus On The Healthcare and Government Sectors

Earlier this week Amazon (tkr: AMZN) announced that Adam Selipsky would become AWS' next CEO. Current AWS CEO Andy Jassy will become Amazon CEO later this year as founder Jeff Bezos will hold only the Executive Chairman title. Selipsky previously spent 11 years at AWS before becoming CEO of Tableau which was acquired by Salesforce … Continue reading AWS Would Do Well To Focus On The Healthcare and Government Sectors

Rising Yields Will Slow M&A Activity

Rising Yields Will Slow M&A Activity

Rising yields will slow debt-funded M&A activity. We expect the pace of Technology M&A to slow as companies review M&A pipelines and landscapes, alternative M&A deal structures and alternative capital allocation choices in the face of rising Treasury yields. Technology valuations are near an all-time high. A fresh $1.9 Trillion print could send equity valuations … Continue reading Rising Yields Will Slow M&A Activity

A LinkedIn Spin-Off Could Unlock Significant Value For Microsoft

A LinkedIn Spin-Off Could Unlock Significant Value For Microsoft

Microsoft's (tkr: MSFT), LinkedIn business unit specializes in entity data and related content similar to ZoomInfo (tkr: ZI). Given ZoomInfo's inflated valuation, Microsoft would likely unlock significant shareholder value were it to spin-off LinkedIn as a separately-traded business. A 20x multiple (par for the course in today's richly-valued Software market and a haircut to ZI's … Continue reading A LinkedIn Spin-Off Could Unlock Significant Value For Microsoft

Is The Fed’s View On The Relationship Between Interest Rates and Jobs Wrong?

Is The Fed’s View On The Relationship Between Interest Rates and Jobs Wrong?

Over the past 11 months and as recently as Tuesday the Federal Reserve has consistently reiterated its mission to get the U.S. Economy back to full employment. We are not there yet. The labor participation rate remains below 2008-2009 financial crisis levels. Let me know your thoughts on the below (particularly if you are on … Continue reading Is The Fed’s View On The Relationship Between Interest Rates and Jobs Wrong?

SPAC-Mania, Bitcoin and The Fed

SPAC-Mania, Bitcoin and The Fed

The SPACs just keep coming. EV manufacturer Lucid Motors plans to IPO via Michael Klein's Churchill Capital. Zero revenue and a $24 billion proforma valuation. I find it fascinating that "sober" investors such as Fidelity and BlackRock participate in these bubble deals. Link HERE. Another SPAC listing will take place when Apex Clearing completes its … Continue reading SPAC-Mania, Bitcoin and The Fed

Banks Need To Try Something New

Banks Need To Try Something New

Last night it was reported that M&T Bank (tkr: MTB) would acquire People's United (tkr: PBCT) for more than $7 billion. These "scale" acquisitions between regional banks simply delay the inevitable. What is required is the hard work of evolving business models and service delivery capabilities. More of the same won't suffice. Regional banks are … Continue reading Banks Need To Try Something New

What’s Next for Fiserv, FIS and Global Payments?

What’s Next for Fiserv, FIS and Global Payments?

Fiserv (tkr: FISV), FIS (tkr: FIS) and Global Payments (tkr: GPN) need to re-tool their product and service portfolios to better compete with modern Fintech platforms such as Square (tkr: SQ), PayPal/Venmo (tkr: PYPL), Stripe (private) and others. Tech giants Alphabet (tkr: GOOGL), Amazon (tkr: AMZN) and Apple (tkr: AAPL) also loom large in the … Continue reading What’s Next for Fiserv, FIS and Global Payments?

We Like The Prospective Link Group Acquisition for SS&C<span class="badge-status" style="background:red">Premium</span> 

We Like The Prospective Link Group Acquisition for SS&CPremium 

The deal for Australia's Link Group (tkr: LNK) is a competitive one, insofar as Link Group has disclosed. The competing prospective acquirers include SS&C Technologies (tkr: SSNC), and a pair of private equity firms - Sydney-based Pacific Equity Partners (Link's former owner) and Carlyle Group (tkr: CG) whom are bidding together. Our best guess is … Continue reading We Like The Prospective Link Group Acquisition for SS&CPremium