Total transaction volume during the first six months of 2014 is 18 percent higher than the total volume during the last six months of 2013, jumping from 169 deals to 199 deals. Total transaction value is up 46 percent, hitting $5.45 billion during the first half of the year compared with $3.73 billion in the six months prior. Pharma IT M&A activity rose the most (60 percent), growing from 15 to 24 transactions.
The increase in number and value of transactions was coupled with a decrease in the median revenue multiple (2.5x to 2.0x) and the EBTDA multiple (9.7x to 8.5x) over the same time period.
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