Investment banker Berkery Noyes says transaction volume rose 22% to $91 billion in 2014 over the year before; with the number of transactions at 1,696 in 2014 versus 1,697 in 2013.
The median revenue selling multiple of those deals stayed the same year-to-year at two times revenues. Cash flow -- earnings before interest, taxes, depreciation, and amortization -- was a bit higher in 2014: 10.9 times versus 9.7 times.
The marketing category continued to be the most active a year ago -- growing to near $600 transactional dollar volume. Internet media deals, the second biggest category, dipped a bit to around the $400 million level; and entertainment content acquisitions, totaling $200 million.
The biggest deals were Leonard Green & Partners purchase of Advantage Sales and Marketing for $4.2 billion; Media agency holding company Publicis Groupe’s $3.4 billion deal for marketing agency Sapient; and real estate Web site Zillow’s $2.9 billion deal for competitor Trulia Inc.
When it comes to traditional media, TV station group Media General bought another big TV station operator LIN Media for $2.35 billion. In the gaming field, there was Microsoft’s $2.5 billion acquisition of Mojang, the developer studio that created the video game Minecraft. In the Internet space, Amazon bought Twitch Interactive for $970 million.