GCA Semiconductor Sector Report Q1 2018
SEMICONDUCTOR SECTOR REPORT Q1 2018 DEAL DASHBOARD Semiconductor $15.6 Billion Q1 2018 M&A Volume (1) Quarterly M&A Volume ($MM) (1) Quarterly M&A Deal Count (1) Top M&A Transactions - Since 2017 $70,000 20 Acquirer Target Transaction Value ($MM) 18 $59,211 (2) $60,000 K.K. Pangea $17,867 $51,522 Flash Memory 15 $50,000 13 12 $15,004 $40,000 10 10 9 9 $10,312 8 8 $30,000 7 $19,825 $20,000 $17,021 $6,843 $15,646 5 $8,634 $10,000 $6,494 $7,430 $3,200 $3,047 $0 0 Q1' 16 Q2' 16 Q3' 16 Q4' 16 Q1' 17 Q2' 17 Q3'17 Q4'17 Q1' 18 Q1' 16 Q2' 16 Q3' 16 Q4' 16 Q1' 17 Q2' 17 Q3' 17 Q4' 17 Q1' 18 $1,833 LTM Semiconductor Performance vs. SPX (3) Median M&A EV / NTM Revenue Over Time (4) 6.0x 50% ^SOX ^SPX 40% 4.4x 4.0x 31% 30% 3.1x 2.8x 20% 2.3x 2.2x 1.9x 2.0x 12% 1.3x 10% 0% 0.0x (10%) 2012 2013 2014 2015 2016 2017 YTD 2018 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Notes: Source: Capital IQ and 451 Group. Q1 financial information as of 03/31/2018. (1) Criteria based on global semiconductor transactions announced with transaction values greater than or equal to $20MM. (2) A special purpose acquisition company formed and controlled by Bain Capital-led consortium. Members of the consortium include: Bain Capital, SK Hynix, Toshiba, Hoya Corp, Apple, Kingston Technology, Seagate Technology and Dell Technologies.
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