M&A · Tech · Services-Computer Processing & Data Preparation
NICE Ltd. to acquire LiveVox Holdings, Inc.
Announced Oct 4, 2023 · Closed Dec 22, 2023
Deal value$352MEV $336M
Premium14.0%To unaffected price
EV / Adj. EBITDA—2.3x EV / Revenue
ConsiderationAll cash$3.74 per share
Transaction
- Acquirer
- NICE Ltd. (NICE)
- Target
- LiveVox Holdings, Inc.
- Buyer type
- Strategic
- Offer price per share
- $3.74
- Enterprise value
- $336M
- Status
- Closed Dec 22, 2023
Deal protections
- Break fee (target pays)
- $4.0M · 1.1%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Jefferies
- Jefferies fee
- $7.5M
Sector context · Tech
- Comparable deals
- 63 in the prior 24 months
- Premium
- 14.0% vs. 43.5% sector median
- EV / Adj. EBITDA
- Sector median 17.3x
- Break fee
- 1.1% vs. 3.0% sector median
Timeline
- AnnouncedOct 4, 2023
- Proxy filedOct 31, 2023
- Definitive proxyNov 22, 2023
- Shareholder vote—
- ClosedDec 22, 2023
Valuation · fairness opinions
Trading comparables$2.33$3.72
Trading comparables$2.28$3.80
Precedent transactions$2.74$4.10
Precedent transactions$3.25$4.78
Precedent transactions$3.42$4.95
Offer $3.74
Implied value per LiveVox Holdings, Inc. share by analysis, from Jefferies.