US exits

I just finished writing an entry on the merits of LSE AIM list fund raising. Here is a US perspective.

In the fourth quarter of 2005 there were approximately 910 technology M&A transactions, which was the highest number in the last five years. Out of those about 590 where US deals, which is about 65% of all transactions globally. M&A has been a much more likely exit path since 2001. In 2005, only 4.2% of all exits where through IPOs.

So who is buying? The top software industry consolidators for 2004-2005 have been IBM, Oracle, Yahoo!, Microsoft, HP, CA and Google. The big boys are buying innovation to expand their offerings.

Those of you that are not quite yet ready to exit, but need that late stage round to get you global, here are 16 top US private equity players in technology in order of size:

– Warburg Pincus
– Texas Pacific Group
– Summit Partners
– Silver Lake Partners
– BainCapital
– TAAssociates
– Golden Gate Capital
– OAK Investment Partners
– APAX Partners
– Spectrum Equity Investors
– Vista Equity Partners
– Francisco Partners
– Platinum Equity
– Thomas Cressey Equity Partners
– The Gores Group
– Vector Capital 


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