Fintech M&A: Acquiring a competitive edge in financial services

30 September 2019

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Mergermarket is pleased to present Fintech M&A: Acquiring a competitive edge in financial services, published in association with Ropes & Gray. This report takes the temperature of today’s fintech M&A market, including the pace at which deals are taking place, the key areas of focus, the challenges and opportunities identified by core market participants, and their expectations of what lies ahead.

Key findings from the report include:

  • Fintech M&A activity has accelerated but not peakedApproximately 5x more fintech deals were done in 2018 than in 2010. However, 92% of survey respondents expect this fintech activity to increase even further in the next year. 
  • Fintech deals are not without their challengesAll three of the respondent groups have encountered problems when completing fintech deals. 65% of fintech corporates have come up against regulatory approval issues in M&A. 61% of banks and other financial institutions say they found establishing valuations very difficult in their latest fintech deal. 67% of PE/VC investors say conducting thorough due diligence on intellectual property was very difficult in their latest deal.
  • Strategic acquirors are increasingly focusing on fintech deal-makingMore than 90% of fintech firms say they have purchased companies in the past two years and expect to buy another company in the next two years. Similarly, 72% of banks and other financial institutions expect to purchase a fintech company in the next two years. All fintech respondents stated that fintech M&A is either critical/transformative (79%) or very important (21%) to their overall business strategy.

CMS European M&A Outlook 2019

05 September 2019

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Mergermarket is pleased to present Storms brewing: European M&A Outlook 2019, published in association with CMS.

This report provides invaluable insights into the M&A landscape in Europe in 2019, and the opportunities and challenges facing dealmakers.

Highlights from the report include:

  • M&A appetite weakens: 45% of respondents are now not considering M&A, compared to only 28% last year. Only 27% of respondents expect the level of M&A activity in Europe to increase over the next 12 months, and just 1% expect it to increase significantly. Even those that are open to deals have adopted a more defensive mindset, slanting towards divestments and bolt-ons rather than transformative deals.
  • Financing conditions look set to tighten: 72% of respondents expect financing conditions to become more difficult in the coming year, even though, at the moment, interest rates are low and finance is readily available. This contrasts sharply with last year’s survey, in which 47% predicted financing conditions would get easier in the coming year.
  • Distressed M&A and restructuring are expected to rise: 95% of respondents said they expected distressed M&A to rise, including 64% who said they expected it to rise significantly. 94% of respondents said they thought restructurings would increase in number.

Access Latin America M&A Conference

25 September 2019 - 12:00 am UTC


The only dealmaking, networking and educational conference focusing on investment and business development between the U.S. and Latin America. Join Latin American companies, co-investors, family offices, institutions and investment bankers along with U.S. private equity, middle market companies, executives, and service providers in Chicago to learn about the opportunities that exist throughout the region.  September 25-27, Chicago.  For more information, please go to www.accessforum.org.

Ireland Mid-Year M&A Review 2019

19 August 2019

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Mergermarket and William Fry are pleased to present the Ireland Mid-Year M&A Review. This report provides a comprehensive overview of developments in the Irish M&A market during the first half of 2019, and offers insight into likely trends in the coming months.

Key findings include:

  • Deal value is up 24% to €2.5bn in H1 2019 whilst deal volume of 75 transactions over H1 2019 is down nearly 20% on the 93 deals announced in H1 2018.
  • In terms of sectors, TMT was dominant for both deal value and volume, accounting for 55% of disclosed value (€1.4bn) and 22% of deal volume (17 deals).
  • Private equity (PE) firms were one of the major contributors to deal activity in H1 2019. PE activity in Ireland totalled €1.8bn over the first six months of the year, a 74% rise compared to H1 2018.

Deal Drivers Americas: 2019 Half-Year Edition

12 August 2019

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Mergermarket is pleased to present the half-year edition of Deal Drivers Americas, in association with Merrill Corporation.

Against a backdrop of slowing economic growth globally and geopolitical tensions such as Brexit, North American deal volume decreased by 18% year-over-year, but deal value increased over 15% thanks to 19 megadeals (valued at US$10bn or more) in the first half of the year, most notably United Technologies’ US$88.9bn acquisition of Raytheon and Bristol-Myers Squibb’s US$89.5bn acquisition of Celgene.

This report provides an in-depth review of M&A activity in the Americas for the first half of 2019, offering insights into how announced deals will impact M&A for the year ahead.

Deal Drivers EMEA: 2019 Half-Year Edition

12 August 2019

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Mergermarket is pleased to present the half-year edition of Deal Drivers EMEA, in association with Merrill Corporation.

Against a backdrop of slowing economic growth globally and geopolitical tensions such as Brexit, the EMEA region saw 3,345 M&A deals valued at €354.3bn in H1 2019. While this represents a drop-off in activity compared to the same period last year (down 17% in volume and 33% in value), appetite for M&A remains in certain areas.

This report provides an in-depth review of M&A activity in Europe, the Middle East and North Africa for the first half of 2019, offering insights into how announced deals will impact M&A for the year ahead.

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The rise of the mega deal

23 July 2019

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Mergermarket is pleased to present The rise of the mega deal, published in association with Imprima.
 
2018 saw 39 mega deals globally (deals with transaction value above US$10 billion), the second highest number of such deals since the financial crisis. And while the first quarter of the year has seen a dip in M&A activity globally, there have still been 16 mega deals totalling US$535.3 billion in deal value.
 
With this in mind, we asked five experts in M&A from the fields of investment banking, technology and academia to weigh in on trends in mega deal activity and the challenges facing dealmakers at the top end of the market.
 
Points of discussion include:
 
  • Motives driving mega deals: favourable financing conditions, the need to drive growth and the desire to be transformative within their industry may be among the factors driving companies towards large acquisitions.
  • Mega deals and private equity: with record amounts of dry powder available, PEs are increasingly engaging in large deals and benefiting from cheap financing.
  • Challenges to deal activity: the complexity and volume of data involved in mega deals, coupled with competition and the uncertain global political landscape, are among the challenges facing companies.
  • Post-merger integration: company culture, communication, effective planning and a focus on technology are seen as important factors in creating synergies and successfully navigating the post-merger process.

1H19 global and regional league tables of PR advisors

15 July 2019

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Mergermarket, the leading provider of M&A data and intelligence, has published its 1H19 report in which all but one of the ten largest deals all targeted US-based companies, six of which were the result of domestic consolidation. Amid heightened geopolitical risks and rising protectionism, global cross border activity has accounted for just 33% of dealmaking this year, compared to a yearly average of 38.7% since 2010.

  • Worth a combined USD 5.9bn over 43 deals in 1H19, Chinese outbound investment into the US and Europe was particularly subdued, reaching lows not seen since 2009.
  • The US took its largest ever share of global M&A value during 1H19, with 53.2% (USD 957.3bn in total global deal value). This was as much to do with its own 14.6% increase on last year’s showing as it was the downturn in Europe and Asia –38.8% and 34.2% lower respectively.
  • Although not reaching 2Q18 record levels (USD 180.1bn), at USD 133.6bn, global private equity buyout value in 2Q19 surpassed that recorded in the previous two quarters (USD 111bn in 4Q18 and USD 111.5bn in 1Q19).
  • Three mega-buyouts have already been struck in the US so far this year - the same number as for the whole of 2018 – including two large cross-border take-private deals in 2Q19: the USD 14.2bn acquisition fiber networks operator Zayo Group by a EQT/Digital Colony Partners consortium and the USD 10.2bn acquisition of midstream oil and gas pipeline operator Buckeye Partners by Australian IFM Investors.

Beranger Guille, Global Editorial Analytics Director at Mergermarket commented: “Perhaps a sign that de-globalisation forces are starting to permeate corporate strategies, several large companies, sometimes under activist pressure, are using M&A to strengthen their grip on their home markets or focus on their core businesses.

M&A Market Briefing - Southeast Asia and India

18 July 2019

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Mergermarket is pleased to present M&A Market Briefing: Southeast Asia and India, published in association with Merrill DatasiteOne.

Election season has swept much of Asia this year, with vast populations going to the polls in India, Indonesia, and much of Southeast Asia. For some investors, this has meant time seated on the sidelines of dealmaking until results, and prospective leadership changes, were announced. However, even amid these uncertainties, M&A and PE/VC investment on the whole maintained much of its momentum in the first half of 2019. In markets where it has slowed, investors may now be tempted to ramp up dealmaking as the political and regulatory direction of these markets becomes clearer.
 
This special infographic newsletter looks at the following trends and considerations as 2019 unfolds:
  • M&A totals for H1 2019 in India and Southeast Asia and India
  • Foreign investment trends and the impact of the elections on inbound deal flows
  • Target sectors and the rise of financial services M&A
  • PE/VC activity in emerging markets and the outlook following election season

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