M&A Quarterly News In The Technology, Media and Telecom Industry Sector

M&A Quarterly News In The Technology, Media and Telecom Industry Sector

By Dan Vermeire

May 22, 2019

The report below gives a good overview of the second quarter M&A activity in the Technology, Media and Telecom Industry Sector. M&A activity for North American based target companies in the Technology, Media and Telecom sector for Q1 2019 included 328 closed deals, according to data published by industry data tracker FactSet.

One of the notable middle market transactions was announced in March when Envestnet, Inc. acquired PIEtech, Inc. for US$521.2 million in cash and stock. Envestnet engages in the provision of intelligent systems for wealth management and financial wellness. PIEtech develops financial planning software for financial advisors. It offers MoneyGuidePro, an Internet based financial planning software that helps advisors to create, implement and maintain investment strategies to meet financial goals. The company was founded in 1997 and is headquartered in Powhatan, VA.

Industry Indicators

  • US corporate profits, which indicate corporate demand for computer software, rose 7.4% in the fourth quarter of 2018 compared to the same period in 2017.
  • US retail sales for electronics and appliance stores, a potential measure of demand for computer software, decreased 3.1% in the first three months of 2019 compared to the same period in 2018.
  • Total US revenue for computer systems design and related services rose 10.9% in the fourth quarter of 2018 compared to the previous year.
  • Total US revenue for software publishers rose 17.3% in the fourth quarter of 2018 compared to the previous year.

Posted by Dan Vermeire.

Read the Entire Technology, Media and Telecom 2nd Quarter Newsletter Here