IFR TMT M A Databook 2013 Low Res

TMT M&A DATABOOK
In association with:
TMT M&A Databook 2013 1
TMT M&A DATABOOK
Worldwide
06 Worldwide announced TMTM&A volumes
TMT M&A sector breakdown
TMT M&A aggregate deal value
06 Quarterly series
Technology
Media and Entertainment
Telecoms
07 Worldwide Technology M&A by Sub Sector
07 Worldwide Media & Entertainment M&A by Sub Sector
07 Worldwide Telecoms M&A by Sub Sector
08 Tech M&A quarterly deal series
08 Telecoms M&A quarterly deal series
08 Media & Entertainment M&A quarterly deal series
08 Worldwide Completed M&A Fees by Sector (US$m)
08 Worldwide Completed M&A Fees by Sector (US$m)
09 Worldwide Announced TMT Comparative M&A
Financial Advisor Rankings
TMT 1/1/2013 - 31/8/2013
TMT Full Year 2012
High Technology 1/1/2013 - 31/8/2013
High Technology Full Year 2012
Media & Entertainment 1/1/2013 - 31/8/2013
Media & Entertainment Full Year 2012
10 Telecommunications 1/1/2013 - 31/8/2013
Telecommunications Full Year 2012
10 Worldwide Announced Top TMT M&A Deals by
Sub-Sector YTD* Technology
Sub-Sector YTD* Media & Entertainment
Sub-Sector YTD* Telecommunications
12 Worldwide Announced Private Equity-Backed
TMT M&A Volumes, TMT
High Technology
Media & Entertainment
Telecommunications
13 Worldwide Completed M&A Fees - Top Banks by Fees
TMT, YTD 2013
TMT, Full Year 2012
Technology, YTD 2013
Technology, Full Year 2012
14 Media & Entertainment, YTD 2013
Media & Entertainment, Full Year 2012
Telecoms, YTD 2013
Telecoms, Full Year 2012
EMEA
16 EMEA Involvement Announced TMT M&A Volumes
TMT
High Technology
Telecommunications
17 EMEA Technology M&A by Sub Sector
17 EMEA Media & Entertainment M&A by Sub Sector
17 EMEA Telecoms M&A by Sub Sector
18 EMEA Involvement Announced TMT Top Deals, YTD*
Technology
Telecommunications
19 EMEA completedM&A fees top banks by fees
All Sectors, YTD 2013
All Sectors, full year 2012
20 TMT, YTD 2013
TMT, full year 2012
High Technology, YTD 2013
High Technology, full year 2012
21 Media & Entertainment, YTD 2013
Media & Entertainment, full year 2012
Telecoms, YTD 2013
High Technology, full year 2012
22 EMEA Involvement Announced TMT M&A Financial
Advisor Rankings, TMT full year 2012
Advisor Rankings, high technology full year 2012
Advisor Rankings, Media & Entertainment 1/1/2013 -
31/8/2013
Advisor Rankings, TMT 1/1/2013 - 31/8/2013
Advisor Rankings, high technology 1/1/2013 - 31/8/2013
Advisor Rankings, Media & Entertainment full year 2012
Table of data
TMT M&A DATABOOK
There had been more than US$240bn of tech and telecom
deals as the third quarter neared its end, led by Verizon
Communications US$130bn buyout of Vodafone Groups
stake in their wireless venture. That puts the three-month
period on pace to be the busiest since 2000, when AOL
and Time Warner announced their merger, then valued at
as much as US$186bn.
Tech and telecom deals have already helped push total
mergers and acquisitions volume in the quarter past the
previous one, with more than US$520bn in transactions
worldwide. The activity underscores how more companies
are nally making strategic moves to counter technological
disruption, said Jennifer Nason, managing director, global
head of technology, media & telecom (TMT), Investment
Banking at JPMorgan.
The fast pace of innovation, increasing competitive
dynamics and the potential for increasing capital costs
have created the perfect storm for strategic moves which
had been contemplated for a while, said Nason, who
advised Verizon on the wireless venture buyout and worked
on Nokias proposed sale of its mobile-phone business to
Microsoft.
Vodafones sale of the stake in Verizon Wireless gives it a
war-chest to make its own acquisitions while
simultaneously making the UK wireless operator a
potential target. The transaction also puts pressure on
competitors such as AT&T Inc. to accelerate strategic
changes. Randall Stephenson, chief executive of
AT&T, second in US mobile-phone customers to Verizon
Wireless, has said that Europe may offer attractive
options for expansion and that his company would buy
wireless assets in Europe if they were available at the right
price.
Verizon and Vodafone had discussed a buyout of the
wireless stake on and off for a decade. For the US
company, the case for full ownership became more
compelling with growth in mobile-data use by high-
spending customers, allowing it to increase its offer to a
level acceptable to Vodafone.
The expectation that interest rates will rise has also
spurred some companies to act. Verizon took advantage of
the favourable interest rate environment to borrow about
US$60bn to fund the wireless venture buyout.
Among handset makers, BlackBerry said last month it
was weighing a sale and has entered into a letter of intent
agreement to sell to a consortium led by investor Fairfax
Financial. The US$4.7bn deal to take BlackBerry private
has set a benchmark - or a oor - for any competing offers
for the beleaguered smartphone manufacturer over the
next six weeks.
Various potential trade and nancial buyers - including
Microsoft, China's Lenovo Group, Amazon, and TPG
Capital - have been mentioned as possibilities over the
course of the past month, however, industry analysts are
sceptical that any rival bids will emerge.
BlackBerry has until November 4 to seek superior offers,
which the Fairfax consortium has the right to match. The
group is looking to arrange nance for the acquisition with
Bank of America Merrill Lynch and BMO Capital Markets
and must complete its due diligence by the same date.
Meanwhile BlackBerry, which has lost out massively to
Apple and Samsung in the consumer market for
TMT M&A busiest since 2000
Christian Lesueur, Managing
Director, Head of TMT Investment
Banking, EMEA, UBS Investment
Bank
The European telecom sector has
been and remains under pressure
through a combination of macro,
regulatory, competitive and
technological factors. Operators have
spent years rightly streamlining their
operations and their portfolios. But
with the continued deationary top-
line environment, operators are
increasingly looking to M&A as part
of the solution. Firstly, to in-market
consolidation to drive cash ow
growth through synergies. Secondly,
to convergence deals to secure
multi-play capabilities as we
transition to unied communications.
And, thirdly, to disposals to reduce
leverage and continue to further
focus strategy and management.
Deals UBS has led this year such as
Vodafone/VZW, Vodafone KDG and
Telefonica Deutschland epitomise
some of these themes.
Importantly, public market
investors have been generally
supportive of M&A in the sector
recognising that consolidation is now
necessary. The highly attractive
nancing market conditions have
enabled companies to pursue
needed inorganic moves; it is great to
see that all management teams have
remained disciplined and on point
with regards to their strategies
reecting the maturity of the sector.
Regulators will have to decide
whether to ease up on European
operators and facilitate this
consolidation as well the
investments it enables in the
service quality and breadth we all
need, or whether to continue to
focus more on pricing. I hope they
will as Europe is falling behind in
both mobile and xed broadband,
which was not the case 10 years ago,
is frustrating as a consumer, and
sub-optimal for our economies.
It interesting to note that 10 years
ago, Europe accounted for 5 of the
top 10 operators, today that number
is 2.
TMT M&A DATABOOK
smartphones, said at the end of last week that from now
on it was going to focus on what it terms enterprise
customers - businesses, governments, legal rms and
security forces.
Lenovo Group, the worlds largest maker of personal
computers, said this month that it is looking for
acquisitions in PCs and smartphones.
Innovations from smartphones to social media
are creating new opportunities for some companies
and ruining the business models of others, driving
dealmaking in both cases. Verizons deal with
Vodafone crowns a summer that saw Publicis Groupe SA
and Omnicom Group Inc agree to combine to create a
US$35bn advertising powerhouse, as well as Microsofts
US$7.2bn bid for the Nokia mobile phone business and
patents.
Nokias future, meanwhile, has been a subject of
speculation almost from the moment Apple launched
the iPhone in 2007. Once the worlds leading mobile-
phone manufacturer, Nokia has fallen badly behind Apple
and Samsung, and the Windows Phone operating system
its devices run accounts for less than 5% of new
smartphones.
In North America, the bidding war for Sprint and
Clearwire raged throughout the rst half of the year, nally
concluding at the end of June when Dish abandoned its
US$25.5bn bid for Sprint and withdrew its US$6.6bn
tender offer for Clearwire. Sprint purchased the shares of
Clearwire it did not already own on July 10, and the
following day, Softbank bought 72% of Sprint for
US$21.6bn.
Still, much of the US wireless sector is in play, as
telecoms vie for scale and spectrum. AT&T, which was
barred from buying T-Mobile two years ago, is still working
on improving its spectrum holdings and bought Leap
Wireless for US$1.2bn at an 88% premium.
In the rst half of 2013, Dish proved how much it wants
an operating wireless business. Since Sprint and Clearwire
failed, a bid for T-Mobile is thought to be feasible, although
T-Mobile with greater repower might buy Dish. T-Mobile
is a tting target for the newly strengthened Sprint, once
its merger with Softbank has settled.
4G auctions in Latin America will continue to take place
in all the regions countries and generate money for the
national governments. The major players, such as the
Mexico-based America Movil, Spain-based Telefonica,
Italy-based TIM and the US-based NII Holdings will bid for
the remaining spectrum auctions to expand their networks
and footprint. Satellite TV players like Sky, a joint venture
of Brazil-based Organizacoes Globo and the El Segundo,
California-based DirecTV Group, will also bid for 4G
spectrum to improve its mobile services.
In Brazil 4G auctions will be launched by the year-end by
the local regulator Anatel and will offer the remaining 96
spectrum lots that had not been sold in the 2012 auction.
In Mexico, Eutelsat Communications purchased Satmex for
US$1.1bn on July 31.
In Europe, telecom companies such as Spains Telefonica
are looking to consolidate as growing data use demands
more expensive networks and regulators restrict fees for
services like roaming. Long-expected deals are nally
taking place, with Telefonica and KPN of the Netherlands
Luc Dezert, Managing Director,
Head for Telecom Europe at BNP
Paribas Corporate Finance
A tsunami of M&A transactions is to
be expected in the European
telecom sector over the next ve
years. After a period of low merger
activity since 2005, four key factors
support an acceleration of telecom
deals in Europe:
1. Convergence: pure play mobile
operators are squeezed in an
increasingly data centric and
convergent industry. Mobile
operators are relying on xed
network infrastructure to transfer a
surging data trafc and need to face
competition from quadruple-play
operators offering bundled packages
at discounted prices. In reaction,
mobile operators are looking at
cable or bre operators acquisition
opportunities
2. Cost savings: the overall telecom
market size is expected to continue to
decrease over the next years (2010-16
CAGR of -2.2%) whereas competition
is further intensifying and investment
needs are increasing (bre, LTE). In
reaction, operators look at in-country
consolidations in order to maximise
cost synergies
3. Financial exibility: European
operators are refocusing from a
global to a regional footprint
strategy. Divestments of non-core
assets result in a greater nancing
exibility and enable them to
reinvest in core markets and
compete more effectively
4. Low valuations in a fragmented
market: Non-European operators
take a mid-term view on the
forthcoming harmonisation of the
European regulatory environment
which is expected to facilitate cross-
border consolidations in a
fragmented market (more than 100
mobile operators), to result in
benets of scale and, ultimately, to
close the gap with superior telecom
valuation metrics in North America
and in Asia
Out of a number of telecom M&A
transactions announced in 2013, the
four major ones are an illustration
each of these factors: Vodafone
KDG in Germany (Convergence),
Telefonica Deutschland EPlus in
Germany (Cost savings), Vodafone
Verizon Wireless in the US (Strategic
refocus), America Movil KPN in the
Netherlands (Low valuations/
European consolidation).
In an industry exposed to
transforming evolutions
(technology, business model,
regulation), each European operator
has become an actor, prey or
predator, of the market
consolidation.
TMT M&A DATABOOK
merging their German businesses O2 Deutschland and E-
Plus, respectively, a transaction that has been anticipated
for the last decade. Telefonica, which has been seeking to
reduce its 48.6bn in debt, has also agreed to sell its Irish
business to Hutchison Whampoa of Hong Kong and to list
40% of its Central American business.
Vivendi of France is making headway in its efforts to sell
off telecom assets as a means to reduce debt and become
a media company, having selected the UAEs Etisalat as
the buyer for its 53% stake in Maroc Telecom, selling for
some 4.2bn. With Maroc Telecom nally nearing a
conclusion, Vivendi is set to focus on French cellular
company SFR.
M&A in the Indian telecom sector is subdued by high
spectrum and infrastructure costs. However, the Indian
government's latest move to hike foreign direct
investment's limit to 100% will allow existing foreign
players to buy out the entire stake in the Indian entity and
may encourage new players to completely own the Indian
arm.
Existing foreign players who own majority stakes or a
signicant minority stake might want to increase their
holdings. Vodafone may want to buy out some of its
partners in Vodafone India. Vodafone owns 74% with
Piramal Group chairman Ajay Piramal, Max Group
chairman Analjit Singh and IDFC as shareholders.
In April , South Korean telco giant KT dropped its bid to
buy a 53% stake in Maroc Telecom from Vivendi, after vying
with bidders such as Ooredoo and Etisalat. After dropping
its bid to buy a 53% stake in Maroc Telecom, South Korean
KT has now turned its attention to acquiring South African
Telcoms iWayAfrica unit, an Internet service provider fully-
owned by Telcom, although talks between iWayAfrica and
KT have stalled.
Another common theme among some telecom rms is
listing infrastructure assets in the form of trusts. Singapore
has been the stock exchange of choice for trust listings, but
recently, Malaysia and Thailand have also made it possible
to list business trusts. This has attracted a lot of interest
among telecoms looking to monetize their xed assets
such as their tower businesses. Thai telco True Corp is
planning a US$2.3bn listing of its towers and bre optics
businesses and in Malaysia, telcos Axiata and Digi.Com are
exploring trust listings. Singapores SingTel could also be
moving towards a business trust listing for its bre
broadband network assets.
Daniel Domberger, Director,
Livingstone Partners LLP
The maturity of two key trends, at a
particular point in the economic
cycle, is driving the current wave of
M&A activity in the TMT sector.
Maturity of enterprise/cloud and
consumer/mobile trends
Both enterprise/cloud and
consumer/mobile technology
markets have matured, and neither
offers the organic growth prospects
it has done over the past ve to
seven years.
Meanwhile, established players
have large, defensible positions, and
barriers to entry are formidable.
Organic growth is therefore difcult,
and new markets largely blocked.
Defensive, opportunistic,
consolidation
In this context, defensive
consolidation (e.g., Microsoft/Nokia),
stepping out of the public eye to
respond to changes in the
marketplace (Dell) and consolidation
of ownership (Verizon/Vodafone)
have taken over as the key drivers of
large-scale M&A activity. BlackBerry,
a victim of changes in both the
enterprise and consumer markets, is
unlikely to remain independent for
long, and will be an opportunistic
bolt-on for an established player.
Whats next?
The next shift will be away from
defensive moves, towards M&A
as a driver of growth. We expect
this to become visible quite quickly,
and certainly over the next 12-
18months.
The deals themselves will be
smaller, but more numerous, as
activity picks up in the mid-market
the traditional engine of growth and
development.
The major corporate acquirers
in the mid-market have been
through a period of intensive
strategic review over the past couple
of years.
They now have greater strategic
clarity and an increased willingness
to consider growth by acquisition
be it of technology, talent, or market
entry. And they have the cash on the
balance sheet and the nancing
available to make these deals
happen.
This combination of growth
ambitions, strategic rationale,
and available capital will drive
increasing M&A activity in the TMT
sector and especially in the mid-
market.
TMT M&A Databook 2013
TMT M&A DATABOOK
Global Data
TMT M&A DATABOOK
Note: *January 1 to August 31
Source: Thomson Reuters
200,000
150,000
100,000
50,000
0
2011 2013 YTD* 2012 2013 YTD
annualised
Technology Media & entertaiment Telecoms
TMT M&A SECTOR BREAKDOWN
US$m
500,000
400,000
300,000
200,000
100,000
0
Technology
Media
Telecoms
2011 2012 2013 YTD
TMT M&A AGGREGATE DEAL VALUE (2011 TO 2013 YTD)
US$m
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Q
1

2
0
1
1
Q
2

2
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Q
3

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Q
4

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*
Deal value -- Number of deals
1,500
1,200
900
600
TECHNOLOGY
US$m
50,000
40,000
30,000
20,000
10,000
0
Q
1

2
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1
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Q
2

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2

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1
3
Q
3

2
0
1
3
*
800
700
600
500
400
MEDIA AND ENTERTAINMENT
US$m
60,000
50,000
40,000
30,000
20,000
10,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
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4

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1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
250
200
150
100
50
TELECOMS
US$m
Worldwide announced TMT M&A volumes
Quarterly series
TMT M&A DATABOOK
Note: *To August 31
Computers & peripherals E-commerce/B2B Electronics
Internet software & services IT consulting & Services Semiconductors
2011 2012
33,165
15,675
4,471
26,535
42,177 30,130
18,807
8,884
23,194
37,148
10,118
22,198
YTD 2013*
28,278
2,978
11,499
10,786
12,580
7,603
WORLDWIDE TECHNOLOGY M&A BY SUB SECTOR
DEAL VALUE US$m
Note: *To August 31
Advertising & marketing Broadcasting Cable
xxxxxxxxxx Other (including hotels and lodging, gaming and casinos)
2011 2012
33,054
6,991
15,589
21,696
14,953
14,320
20,159
12,289 14,662
34,145
YTD 2013*
22,502
26,768
22,289
8,584
18,767
WORLDWIDE MEDIA & ENTERTAINMENT M&A BY SUB SECTOR
DEAL VALUE US$m
Note: * To August 31
Space and satellites Telecoms equipment Telecoms services
Wireless Other telecom
2011 2012
4,034 9,829
18,949
46,531
23,539
2,240
10,697
44,840
56,032
6,427
YTD 2013*
2,335
63,281
27,265
542
1,143
WORLDWIDE TELECOMS M&A BY SUB SECTOR
DEAL VALUE US$m
Sub-sector breakdowns
TMT M&A DATABOOK
Note: *To August 31
50,000
40,000
30,000
20,000
10,000
0
Q
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2
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1
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*
Internet software & services IT consulting & services Semiconductors
TECH M&A QUARTERLY DEAL SERIES
US$m
Note: **Hotels and lodging; casinos and gaming, *To August 31
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
Q
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1
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2

2
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1
3
Q
3

2
0
1
3
*
Advertising & marketing Broadcasting Cable
Motion pictures / Audio visual Other*
MEDIA & ENTERTAINMENT M&A QUARTERLY DEAL SERIES
US$m
Note: * *To August 31
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
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1
1
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4

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*
0
10,000
20,000
30,000
40,000
50,000
60,000
TELECOMS M&A QUARTERLY DEAL SERIES
US$m
WORLDWIDE COMPLETED M&A FEES BY SECTOR (US$M)
Macro sector YTD 2013* % of total
Financials 3,153 27.91
TMT combined 1,859 16.45
Energy and power 1,409 12.47
Materials 1,016 8.99
Industrials 985 8.72
Consumer staples 788 6.98
Technology 751 6.64
Healthcare 723 6.40
Real estate 569 5.04
Telecommunications 568 5.02
Media and entertainment 541 4.79
Consumer products and services 448 3.97
Retail 236 2.09
Government and agencies 112 0.99
Total 11,299
Source: Thomson Reuters/Freeman Consulting
WORLDWIDE COMPLETED M&A FEES BY SECTOR (US$M)
Macro sector Full Year 2012 % of total
Financials 6,239 29.03
TMT combined 3,195 14.87
Energy and power 2,955 13.75
Industrials 2,067 9.62
Healthcare 1,810 8.42
Technology 1,739 8.09
Materials 1,728 8.04
Consumer staples 1,021 4.75
Consumer products and services 921 4.29
Telecommunications 760 3.54
Real estate 715 3.33
Media and entertainment 696 3.24
Retail 651 3.03
Government and agencies 188 0.87
Total 21,490
Source: Thomson Reuters/Freeman Consulting
M&A fee data
TMT M&A DATABOOK
TECHNOLOGY, FULL YEAR 2012
Ranking value
Number inc. net debt Market
Financial adviser of deals of target (US$m) share
1 Goldman Sachs 42 53,531 33.3
2 JP Morgan 32 37,072 23.1
3 Morgan Stanley 44 31,200 19.4
4 Credit Suisse 29 20,962 13.1
5 Deutsche Bank 22 18,488 11.5
6 Bank of America Merrill Lynch 16 16,872 10.5
7 Rothschild 14 16,288 10.1
8 Citigroup 11 12,769 8.0
9 UBS 14 11,628 7.2
10 Barclays 18 11,231 7.0
Total 4,904 160,566
MEDIA & ENTERTAINMENT, FULL YEAR 2012
Ranking value
2 JP Morgan 15 20,806 18.0
4 Citigroup 12 11,404 9.9
6 Moelis 20 10,802 9.3
8 UBS 14 9,901 8.6
9 Lazard 16 8,622 7.5
10 LionTree Advisors 3 7,164 6.2
Total 2,668 115,676
TECHNOLOGY, 1/1/2013 31/8/2013
Ranking value
1 JP Morgan 19 39,892 38.2
3 Barclays 8 35,127 33.6
7 RBC Capital Markets 7 27,059 25.9
8 Evercore Partners 9 21,742 20.8
9 UBS 11 21,324 20.4
10 Citigroup 13 19,964 19.1
Total 2,894 104,468
MEDIA & ENTERTAINMENT, 1/1/2013 31/8/2013
Ranking value
4 Citigroup 18 31,971 28.7
5 JP Morgan 12 26,071 23.4
7 Moelis 15 23,887 21.5
8 Centerview Partners 2 22,950 20.6
9 Rothschild 12 21,043 18.9
10 BNP Paribas 1 19,331 17.4
Total 1,672 111,300
Worldwide announced TMT comparative M&A
nancial advisor rankings
TMT, 1/1/2013 31/8/2013
Ranking value
1 Goldman Sachs 46 149,866 48
2 JP Morgan 38 108,817 35
3 Bank of America Merrill Lynch 27 90,260 29
4 Deutsche Bank 28 82,720 27
5 Citigroup 37 65,945 21
6 Credit Suisse 21 63,881 21
7 Morgan Stanley 37 62,919 20
8 UBS 20 51,443 17
9 LionTree Advisors 4 48,249 16
10 Barclays 16 40,193 13
Total 4,983 310,333
TMT, FULL YEAR 2012
Ranking value
1 Goldman Sachs 83 122,950 31.0
2 JP Morgan 62 96,385 24.3
4 UBS 43 76,241 19.2
8 Citigroup 44 55,679 14.0
9 Rothschild 42 49,938 12.6
10 Mizuho Financial Group 34 31,256 7.9
Total 8,297 396,479
TMT M&A DATABOOK
TECHNOLOGY
Value Target Target Acquirer Acquirer Acquirer Seller
(US$m) Date name mid industry name mid industry ultimate parent Investor immediate parent
19,278.832 5/2/13 Dell Inc (US) Computers & Investor Group Other nancials Investor Group (US) Silver Lake Partners
peripherals
6,530.197 6/5/13 BMC Software Software BMC Software Other nancials BMC Software Bain Capital /Golden Gate Capital/GIC Elliott
Inc (US) SPV (US) Special Invest Pte Ltd/Insight Venture Management
Partners Corp
5,834.400 26/7/13 Activision Software Activision Software Vivendi (FR) Vivendi SA
Blizzard Inc (US) Blizzard
4,046.997 18/4/13 ista International Electronics CVC Capital Alternative nancial CVC Capital
GmbH (GM) Partners investments Partners Ltd (UK)
2,545.464 4/6/13 ExactTarget Software Salesforce.com Software Salesforce.com
Inc (US) (US)
2,395.417 23/7/13 Sourcere Computers & Cisco Systems Computers & Cisco Systems
Inc (US) peripherals Inc peripherals (US)
2,338.765 25/7/13 Activision Software ASAC II Other nancials ASAC II (US) Vivendi SA
Blizzard Inc (US)
1,850.000 16/7/13 91 Wireless Software Baidu (Hong Other nancials Baidu (CH)
Websoft Ltd (CH) Kong)
1,661.933 4/2/13 Acme Packet Computers & Oracle Corp Software Oracle Corp (US)
Inc (US) peripherals
1,650.543 22/3/13 Dell Inc (US) Computers & Icahn Asset management Icahn Enterprises
peripherals Enterprises (US)
TELECOMMUNICATIONS , FULL YEAR 2012
Ranking value
1 UBS 15 54,712 45.5
3 Goldman Sachs & Co 16 40,739 33.9
5 JP Morgan 15 38,507 32.0
7 Citigroup 21 31,505 26.2
9 Rothschild 7 27,489 22.9
10 Mizuho Financial Group 3 22,318 18.6
Total 725 120,236
TELECOMMUNICATIONS, 1/1/2013 31/8/2013
Ranking value
2 JP Morgan 7 42,855 45.3
3 RBS 2 34,157 36.1
5 LionTree Advisors 1 25,531 27.0
8 Citigroup 6 14,010 14.8
10 UBS 2 11,455 12.1
Total 417 94,566
Top 10 deals by sub-sector
TMT M&A DATABOOK
TELECOMMUNICATIONS
(US$m) Date name Mid industry name mid industry ultimate parent Investor immediate parent
25,531.002 5/2/13 Virgin Media Inc (US) Telecommunications Liberty Global Cable Liberty Global Inc (US)
services Inc
22,722.263 9/8/13 Koninklijke KPN NV (NT) Telecommunications America Movil Wireless America Movil SAB
services SAB de CV de CV (MX)
11,435.069 23/7/13 E-Plus Mobilfunk Wireless Telefonica Telecommunications Telefonica SA (SP)
GmbH & Co KG (GM) Deutschland services
Holding
4,064.224 12/7/13 Leap Wireless Intl Inc (US) Wireless AT&T Inc Wireless AT&T Inc (US)
3,550.000 27/3/13 Tele2 Russia Holding Telecommunications VTB Group Banks VTB Group (RS)
AB (RS) services
2,221.351 1/7/13 Nokia Siemens Wireless Nokia Oyj Telecommunications Nokia Oyj (FN)
Networks Oy (FN) equipment
2,200.000 23/7/13 LightSquared Inc (US) Wireless DISH Network Cable DISH Network Corp (US)
Corp
1,565.000 9/7/13 Turkcell Iletisim Wireless Cukurova Machinery Cukurova Holding AS (TK) Alfa Group Consortium
Hizmetleri (TK) Holding AS
1,562.732 21/1/13 Optimus SGPS SA (PO) Telecommunications Zon Multimedia Cable Zon Multimedia (PO)
services
1,390.000 11/8/13 ARINC Inc (US) Telecommunications Rockwell Collins Professional Rockwell Collins Inc (US)
services Inc services
MEDIA & ENTERTAINMENT
(US$m) Date name Mid industry name mid industry ultimate parent Investor immediate parent
19,331.138 28/7/13 Omnicom Advertising Publicis Advertising & Publicis Groupe
Group Inc (US) & marketing Groupe SA marketing SA (FR)
16,700.000 12/2/13 NBCUniversal Broadcasting Comcast Corp Cable Comcast Corp (US)
Media LLC (US)
13,512.584 24/6/13 Kabel DeutschlandCable Vodafone Vierte Wireless Vodafone Group
Holding AG (GM) PLC (UK)
6,250.147 19/6/13 News Corp- Publishing Shareholders Other nancials Shareholders (US)
Publishing
Business (US)
4,385.964 19/6/13 Springer Science+ Motion Investor Group Other nancials Investor BC European Capital IX Government of Singapore
Business (GM) pictures/ Group (UK) Invest
audio visual
2,725.000 1/7/13 Local TV-Television Broadcasting Tribune Co Publishing Tribune Co (US)
Stn(19) (US)
2,674.000 19/3/13 Charter Cable Liberty Media Cable Liberty Media Apollo Global Management
Communications Corp Corp (US) LLC/Oaktree Capital Group
Inc (US) LLC/Crestview Partners LP
2,141.786 13/6/13 Belo Corp (US) Broadcasting Gannett Co Inc Publishing Gannett Co Inc (US)
1,625.000 7/2/13 Optimum Cable Charter Cable Charter
West (US) Communications Communications
Inc Inc (US)
1,502.034 22/2/13 Grand Wailea Hotels and GIC Alternative nancial GIC (SG)
Resort Hotel & (US) lodging investments
TMT M&A DATABOOK
Note: Buy-side Financial Sponsor Backing, ** 1/7/2013 - 31/8/2013
25,000
20,000
15,000
10,000
5,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
*
250
200
150
100
TECHNOLOGY
US$m
15,0000
12,000
9,000
6,000
3,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
Deal value Number of deals
100
80
60
40
US$m
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
Deal value Number of deals
35
30
25
20
15
10
TELECOMMUNICATIONS
US$m
30,000
25,000
20,000
15,000
10,000
5,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
250
200
150
100
50
TMT
US$m
Worldwide Announced Private Equity-Backed
TMT M&A Volumes
TMT M&A DATABOOK
Worldwide completed M&A fees
Top banks by fees
TMT, YTD 2013
Wallet Fees
Bank Rank share (%) (US$m)
Goldman Sachs 1 14.08 262
JP Morgan 2 10.54 196
Morgan Stanley 3 6.20 115
Citigroup 4 4.69 87
Bank of America Merrill Lynch 5 4.13 77
Qatalyst Partners 6 3.19 59
Evercore Partners 7 3.12 58
Credit Suisse 8 2.92 54
RBC Capital Markets 9 2.84 53
Lazard 10 2.77 52
UBS 11 2.69 50
Barclays 12 2.66 49
Deutsche Bank 13 2.32 43
Jefferies 14 2.03 38
LionTree Advisors 15 1.81 34
Centerview Partners 16 1.75 33
Rothschild 17 1.38 26
Houlihan Lokey 18 1.11 21
CIBC World Markets Inc 19 1.08 20
Raymond James Financial Inc 20 1.05 20
Source: Thomson Reutersx
TMT, FULL YEAR 2012
Wallet Fees
JP Morgan 3 6.60 211
Lazard 5 4.66 149
UBS 6 4.32 138
Barclays 9 3.33 107
Citigroup 10 2.65 85
Moelis 13 2.17 69
Macquarie Group 14 2.03 65
Blackstone Group 15 1.76 56
TECHNOLOGY, YTD 2013
Wallet Fees
Barclays 5 3.48 26
UBS 6 3.10 23
Jefferies 9 2.89 22
Lazard 10 2.89 22
Raymond James Financial 11 2.54 19
Citigroup 16 1.73 13
Nomura 18 1.47 11
Wells Fargo 19 1.38 10
IMAP 20 1.34 10
Wallet Fees
Lazard 5 5.60 97
Barclays 7 3.24 56
Jefferies 8 2.33 40
UBS 11 2.24 39
GCA Savvian Group Corp 14 1.64 28
Stifel/KBW 15 1.59 28
Raymond James Financial 20 1.36 24
TMT M&A DATABOOK
MEDIA & ENTERTAINMENT, YTD 2013
Wallet Fees
JP Morgan 3 8.13 44
Citigroup 6 5.58 30
Lazard 9 3.16 17
Moelis 12 2.01 11
Greenhill & Co 13 1.98 11
UBS 15 1.71 9
Peter J. Solomon 16 1.71 9
National Bank of Canada Fin 17 1.39 7
Alvarez & Marsal 18 1.33 7
Perella Weinberg Partners 20 1.16 6
Wallet Fees
Moelis 1 6.19 43
Citigroup 2 5.93 41
Lazard 3 5.20 36
JP Morgan 6 3.82 27
UBS 8 3.21 22
Barclays 13 2.46 17
Greenhill & Co 15 2.02 14
Canaccord Genuity 16 1.72 12
Gleacher & Co 18 1.59 11
BNP Paribas 19 1.57 11
TELECOMS, YTD 2013
Wallet Fees
Citigroup 3 7.75 44
Barclays 5 3.92 22
UBS 9 3.08 17
Mizuho Financial Group 11 2.65 15
BMO Capital Markets 13 2.44 14
Lazard 14 2.25 13
The Raine Group 15 2.09 12
CIBC World Markets 18 1.71 10
Plutus Consulting Co 19 1.42 8
Falkenberg Capital Corp 20 1.15 7
TELECOMS, FULL YEAR 2012
Wallet Fees
UBS 1 10.10 77
JP Morgan 5 6.77 52
Barclays 6 4.34 33
Citigroup 9 3.00 23
Wells Fargo 13 2.13 16
Lazard 14 2.02 15
Moelis 15 1.99 15
TD Securities 19 1.47 11
HSBC Holdings 20 1.42 11
TMT M&A DATABOOK
EMEA Data
TMT M&A DATABOOK
Note: *To Aug 31 2013
30,000
25,000
20,000
15,000
10,000
5,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
500
400
300
200
TECHNOLOGY
US$m
25,000
20,000
15,000
10,000
5,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
500
400
300
200
100
US$m
50,000
40,000
30,000
20,000
10,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
120
100
80
60
40
TELECOMMUNICATIONS
US$m
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Q
1

2
0
1
1
Q
2

2
0
1
1
Q
3

2
0
1
1
Q
4

2
0
1
1
Q
1

2
0
1
2
Q
2

2
0
1
2
Q
3

2
0
1
2
Q
4

2
0
1
2
Q
1

2
0
1
3
Q
2

2
0
1
3
Q
3

2
0
1
3
*
1,000
800
600
400
TMT
US$m
EMEA Involvement Announced TMT
M&A volumes
TMT M&A DATABOOK
Note: *To August 31
2011 2012
560.9
5,639.7
2,530.8
24,660.5
11,350.0
2,087.1
1,065.7
19,701.5
29,445.7
82.2
YTD 2013*
4,748.1
79,396.9
59,954.3
700.0
7,847.5
EMEA TELECOMS M&A BY SUB SECTOR
DEAL VALUE US$m
Note: *To August 31
Internet software and services IT consulting and services Semiconductors
Software Other technology
2011 2012
5,303.0
4,402.4
2,108.8
8,685.0
21,653.7
7,622.9
1,655.3
1,402.7
11,436.0
13,082.9
3,188.8
12,817.4
YTD 2013*
6,766.2
4,803.3
26,512.1
38,317.2
14,696.4
8,091.5
102.8
17,383.4
1,898.2
284.7
42,423.5
284.7
EMEA TECHNOLOGY M&A BY SUB SECTOR
DEAL VALUE US$m
Note: *To August 31 **including hotels and lodging; casinos and gaming
Advertising and marketing Broadcasting Cable
Motion pictures/audio visual Publishing Recreation and leisure Other**
2011 2012
4,443.4
2,829.9
5,447.8
10,843.0
8,346.1
8,356.4
4,793.1
1,573.7
3,875.8
11,588.9
YTD 2013*
11,817.1
155.8
3,134.4
743.5
10,521.5
3,111.6
9,068.6
952.7
4,540.8
1,795.1
6,125.4
EMEA MEDIA & ENTERTAINMENT M&A BY SUB SECTOR
DEAL VALUE US$m
Sub-sector breakdowns
TMT M&A DATABOOK
TECHNOLOGY
5,834.400 25/7/13 Activision Blizzard Software Activision Blizzard Software Vivendi (FR) Vivendi SA
Inc (US)
4,046.997 18/4/13 ista International GmbH Electronics CVC Capital Alternative nancial CVC Capital Partners (UK)
(GM) Partners investments
2,338.765 25/7/13 Activision Blizzard Software ASAC II Other nancials ASAC II (US) Vivendi
Inc (US)
1,490.175 2/1/13 Cerved Group SpA (IT) Internet software CVC Capital Alternative nancial CVC Capital Partners (UK) Clessidra SGR
& services Partners investments
821.466 22/4/13 Power-One Inc (US) Electronics ABB Other energy & power ABB (SZ)
668.519 19/7/13 Host Europe Group Ltd IT consulting Cinven Partners Alternative nancial Cinven
(UK) & services investments
650.000 29/4/13 Eastman Kodak Electronics Kodak Pension Plan Insurance Kodak Pension Plan (UK)
Co-Personalized (US)
605.826 8/5/13 Civica PLC (UK) IT consulting OMERS Private Alternative nancial OMERS (CA)
& services Equity investments
600.000 06/27/13 Neolane SA (FR) Software Adobe Systems Software Adobe Systems (US)
485.568 01/29/13 Ogone BVBA/SPRL (BL) E-commerce/ Ingenico Computers & Ingenico (FR)
peripherals
Note: * YTD = 01 Jan - 31 August 2013
19,331.138 28/7/13 Omnicom Group Inc (US) Advertising & Publicis Groupe Advertising & Publicis Groupe (FR)
marketing marketing
13,512.584 24/6/13 Kabel Deutschland Cable Vodafone Vierte Wireless Vodafone Group (UK)
Holding AG (GM)
4,385.964 06/19/13 Springer Science+ Motion pictures/ Investor Group Other Financials Investor Group (UK) BC European Government of
Business (GM) audio visual Capital IX Singapore Invest
1,455.982 10/6/13 Vue Entertainment Motion pictures/ Investor Group Other Financials Investor Group (CA) Alberta Investment OMERS Private
Ltd (UK) audio visual Mgmt Corp Equity
1,221.617 25/7/13 Axel Springer-Regional Publishing Funke Publishing Funke Mediengruppe
Newspap (GM) Mediengruppe GmbH (GM)
GmbH
855.419 1/5/13 Greek Organisation Of Casinos & gaming Emma Delta Other Financials Emma Delta Management Greece
Football (GR) Ltd (CY)
810.585 28/3/13 Ziggo NV (NT) Cable Liberty Global Cable Liberty Global (US) Barclays Bank PLC
765.174 02/07/13 Parlophone Label Motion pictures/ Warner Music Group Motion picture/ Access Industries (US)
Group (UK) audio visual Corp audio visual
733.931 05/27/13 Club Mediterranee SA (FR) Hotels and lodging Gaillon Invest Other Financials AXA (FR)
637.272 03/01/13 William Hill Online (GI) Casinos & gaming William Hill Recreation & leisure William Hill (UK)
Top 10 deals by sub-sector
TMT M&A DATABOOK
EMEA INVOLVEMENT ANNOUNCED TMT TOP DEALS, YTD*
TELECOMMUNICATIONS
22,658.587 9/8/13 Koninklijke KPN (NT) Telecomms America Movil Wireless America Movil SAB de CV
services SAB de CV (MX)
11,435.069 23/7/13 E-Plus Mobilfunk Wireless Telefonica Telecomms Telefonica (SP)
GmbH & Co (GM) Deutschland Holding services
3,550.000 27/3/13 Tele2 Russia Telecomms VTB Group Banks VTB Group (RS)
Holding (RS) services
2,221.351 1/7/13 Nokia Siemens Wireless Nokia Oyj Telecomms Nokia Oyj (FN)
Networks Oy (FN) equipment
2,100.000 22/7/13 UNE EPM Telecomms Millicom Intl Telecomms Millicom Intl Cellular (LX)
Telecomunicaciones services Cellular services
(CO)
1,565.000 9/7/13 Turkcell Iletisim Wireless Cukurova Holding Machinery Cukurova Holding (TK) Alfa Group
Hizmetleri (TK) AS Consortium
1,562.732 21/1/13 Optimus SGPS (PO) Telecomms Zon Multimedia Cable Zon Multimedia (PO)
services
1,263.094 3/5/13 Bharti Airtel (IN) Wireless Qatar Foundation QSC Other nancials Qatar Foundation QSC (QA)
1,142.000 31/7/13 SATMEX (MX) Space and Eutelsat Space and Eutelsat Communications
satellites Communications satellites (FR)
1,115.778 24/6/13 Telefonica Ireland Ltd (IR) Wireless Hutchison 3G Telecomms Hutchison Whampoa
Ireland services (HK)
ALL SECTORS, YTD 2013
Wallet Fees
Rothschild 1 7.10 253.54
Goldman Sachs 2 6.77 241.78
JP Morgan 3 5.93 211.73
Morgan Stanley 4 5.85 208.71
Lazard 5 4.10 146.52
Credit Suisse 6 4.10 146.46
Citigroup 7 3.82 136.22
Deutsche Bank 8 3.24 115.63
Barclays 9 3.17 113.14
BNP Paribas 10 3.01 107.39
UBS 11 2.75 98.23
Bank of America Merrill Lynch 12 2.67 95.46
Societe Generale 13 1.87 66.72
Jefferies 14 1.59 56.71
Evercore Partners 15 1.56 55.55
IMAP 16 1.29 45.96
Mediobanca 17 1.14 40.68
Greenhill & Co 18 1.02 36.59
Nomura 19 0.99 35.46
Credit Agricole CIB 20 0.96 34.10
ALL SECTORS, FULL YEAR 2012
Wallet Fees
JP Morgan 3 5.21 319.13
Lazard 6 4.15 254.28
UBS 7 3.58 219.24
Barclays 8 3.30 202.17
Citigroup 11 2.63 161.34
BNP Paribas 12 2.37 145.02
IMAP 13 1.97 120.54
Nomura 15 1.34 81.85
HSBC Holdings 16 1.29 79.11
RBC Capital Markets 17 1.23 75.36
Moelis 18 1.01 61.82
VTB Capital 19 0.98 60.29
Leonardo 20 0.95 58.25
EMEA completed M&A fees top banks by fees
TMT M&A DATABOOK
TMT, YTD 2013
Wallet Fees
JP Morgan 1 10.45 46.61
Lazard 3 6.06 27.03
Citigroup 4 5.49 24.50
UBS 5 5.30 23.65
Jefferies 6 3.50 15.61
Barclays 8 3.08 13.73
Greenhill & Co 13 2.40 10.72
IMAP 14 2.24 10.00
Canaccord Genuity 15 2.01 8.97
Investec 17 1.53 6.82
BNP Paribas 18 1.41 6.31
Duff and Phelps 20 1.12 5.00
TMT, FULL YEAR 2012
Wallet Fees
JP Morgan 1 11.63 86.54
Barclays 5 4.68 34.85
UBS 6 3.49 25.94
Lazard 7 3.39 25.21
Citigroup 10 2.66 19.80
Moelis 11 2.48 18.43
Qatalyst Partners 12 1.73 12.90
Jefferies 13 1.64 12.20
IMAP 15 1.43 10.64
BDO 20 1.18 8.75
TECHNOLOGY, YTD 2013
Wallet Fees
Lazard 1 10.13 14.98
UBS 2 8.38 12.38
IMAP 4 6.09 9.00
JP Morgan 8 4.23 6.26
RBC Capital Markets 10 2.28 3.37
Blackstone Group 11 2.15 3.17
Duff and Phelps 12 2.03 3.00
Bryan Garnier 14 1.74 2.57
Investec 15 1.73 2.55
BlueMind Corporate Finance 17 1.35 2.00
BDO 17 1.35 2.00
Wallet Fees
JP Morgan 1 21.07 62.13
Barclays 4 3.67 10.81
Moelis 7 2.79 8.22
IMAP 8 2.78 8.19
FIH Partners 9 2.38 7.02
Lazard 12 1.73 5.10
Arma Partners 13 1.54 4.53
Investec 14 1.48 4.37
Bryan Garnier 15 1.45 4.27
Globalscope 17 1.35 3.99
Commerzbank 18 1.17 3.46
Mooreland Partners 19 1.09 3.22
BDO 20 0.85 2.50
TMT M&A DATABOOK
MEDIA & ENTERTAINMENT, YTD 2013
Wallet Fees
JP Morgan 2 7.98 10.72
Greenhill & Co 2 7.98 10.72
UBS 7 5.25 7.06
Green Square Partners 11 2.50 3.36
Lazard 12 2.44 3.28
Investec 15 1.63 2.19
OTKRITIE Financial Corp 16 1.36 1.83
Claireld International 17 1.33 1.78
Credit Agricole CIB 18 1.31 1.76
Jadwa Investment Co 19 1.20 1.62
Banca IMI (Intesa Sanpaolo) 20 0.95 1.27
Wallet Fees
JP Morgan 2 7.40 16.50
Moelis 5 4.58 10.21
Barclays 7 3.73 8.32
Allen & Co 10 3.24 7.22
UBS 11 2.99 6.66
Lazard 12 2.69 6.00
BDO 13 2.24 5.00
Nomura 14 1.92 4.29
UniCredit 16 1.81 4.04
Greenhill & Co 17 1.79 4.00
Altium Capital Limited 18 1.67 3.72
Claireld International 20 1.55 3.46
TELECOMS, YTD 2013
Wallet Fees
JP Morgan 1 18.08 29.63
Barclays 3 8.38 13.73
Lazard 6 5.36 8.78
Houlihan Lokey 9 2.63 4.31
UBS 11 2.57 4.21
goetzpartners Corp Finance 12 1.77 2.90
Akira Partners 13 1.62 2.66
Commerzbank 14 1.35 2.21
Berenberg Bank 14 1.35 2.21
Investec 18 1.27 2.08
Wallet Fees
UBS 2 7.64 17.28
Barclays 4 6.94 15.71
Lazard 5 6.23 14.11
Qatalyst Partners 7 5.70 12.90
JP Morgan 12 3.50 7.91
RBS 14 2.83 6.40
SEB 16 2.34 5.30
National Bank of Kuwait 17 2.22 5.01
Carnegie 18 1.76 3.99
TMT M&A DATABOOK
EMEA INVOLVEMENT ANNOUNCED TMT M&A FINANCIAL
ADVISOR RANKINGS, TMT
FULL YEAR 2012
Ranking value
1 Goldman Sachs 33 38,193.7 28.5
2 JP Morgan 30 37,321.1 27.9
3 Morgan Stanley 28 36,431.1 27.2
4 Deutsche Bank 27 34,118.9 25.5
5 Credit Suisse 18 18,207.8 13.6
6 Rothschild 33 15,954.2 11.9
7 Bank of America Merrill Lynch 14 14,803.8 11.1
8 UBS 18 12,473.4 9.3
9 Lazard 30 11,907.9 8.9
10 Barclays 15 9,911.4 7.4
Total 3,488 133,829.8
ADVISOR RANKINGS, TECHNOLOGY
FULL YEAR 2012
Ranking value
1 JP Morgan 17 19,064.8 41.7
2 Goldman Sachs 15 17,552.5 38.4
3 Morgan Stanley 13 11,407.0 24.9
4 Deutsche Bank 10 11,191.2 24.5
6 Rothschild 11 6,904.6 15.1
7 Centerview Partners 2 5,060.0 11.1
8 Barclays 6 4,121.6 9.0
9 PricewaterhouseCoopers 27 3,925.5 8.6
10 Houlihan Lokey 5 3,411.3 7.5
Total 1,781 45,766.1
ADVISOR RANKINGS, MEDIA & ENTERTAINMENT
1/1/2013 31/8/2013
Ranking value
1 JP Morgan 5 8,562.4 24.0
2 Rothschild 19 6,136.9 17.2
3 Greenhill 3 4,962.4 13.9
=3 Morgan Stanley 4 4,962.4 13.9
5 Citigroup 5 4,420.4 12.4
6 Moelis 6 3,814.4 10.7
7 Goldman Sachs 7 3,743.6 10.5
8 Deutsche Bank 4 3,091.9 8.7
9 Credit Suisse 3 2,946.6 8.3
10 Macquarie Group 3 2,922.5 8.2
Total 1,351 35,681.4
ADVISOR RANKINGS, TMT
1/1/2013 31/8/2013
Ranking value
1 Goldman Sachs 19 73,455.7 53.9
2 Deutsche Bank 15 51,989.3 38.1
4 Morgan Stanley 16 37,836.4 27.8
5 RBS 3 34,093.7 25.0
6 Citigroup 13 33,442.0 24.5
7 JP Morgan 17 33,313.0 24.4
8 UBS 14 31,761.5 23.3
9 Rothschild 19 22,096.4 16.2
10 BNP Paribas 5 21,075.1 15.5
Total 1,975 136,332.2
ADVISOR RANKINGS, TECHNOLOGY
1/1/2013 31/8/2013
Ranking value
1 Deutsche Bank 10 14,498.0 50.1
2 Goldman Sachs 7 13,722.3 47.4
3 JP Morgan 6 12,302.2 42.5
4 Barclays 4 8,518.2 29.4
5 Centerview Partners 2 8,173.2 28.2
7 Allen & Co Inc 1 2,338.8 8.1
8 Morgan Stanley 5 2,176.7 7.5
9 Lazard 4 2,140.2 7.4
10 Credit Suisse 6 2,026.9 7.0
Total 1,026 28,969.4
ADVISOR RANKINGS, MEDIA & ENTERTAINMENT
FULL YEAR 2012
Ranking value
2 Citigroup 9 21,072.4 40.7
3 Rothschild 12 21,042.9 40.6
4 Goldman Sachs 7 21,013.3 40.5
5 Moelis 3 19,476.8 37.6
6 BNP Paribas 1 19,331.1 37.3
7 UBS 7 18,663.7 36.0
8 Morgan Stanley 4 15,849.2 30.6
9 Deutsche Bank 3 14,832.7 28.6
10 Perella Weinberg Partners 1 13,512.6 26.1
Total
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IFR TMT M A Databook 2013 Low Res

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