U.S. announced M&A activity in first quarter produced 2,332 deals valued at $192.7 billion, according to data from Thomson Reuters.
This represents a 53% decrease by deal value and a 21.5% slide by the number of deals, Thomson Reuters said.
Private equity backed transactions turned in a shocker. There were a total of 319 transactions valued at $27.7 billion, representing a 6.5% increase by deal value, Thomson Reuters said. However, the number of deals actually declined 5% from 337 announced in first quarter 2011, TR said.
The biggest deal in first quarter was Roche Holding’s bid for Illumina. Thomson Reuters’s is valuing the proposal at around $7.5 billion. [Illumina has since rejected an improved offer from Roche, Reuters is reporting.] While interesting, that’s a strategic deal and this is peHUB.
Here’s a slideshow of the quarter’s top 5 PE-backed deals:
The quarter’s fifth largest deal came from Insight Venture Partners. In March, IVP announced it was buying Quest Software in a $2 billion deal. Aliso Viejo, Calif.-based Quest helps companies manage databases and provides other corporate IT services.
Insight focuses on software, internet and data-enabled businesses and can invest from $10 million to $200 million per deal. (The firm is putting $210 million equity into Quest.)