M&A · Tech · Services-Computer Programming, Data Processing, Etc.
Symphony Technology Group to acquire Momentive Global Inc.
Announced Mar 13, 2023 · Closed May 31, 2023
Deal value$1.50BEV $1.40B
Premium46.0%To unaffected price
EV / Adj. EBITDA—2.9x EV / Revenue
ConsiderationAll cash$9.46 per share
Transaction
- Acquirer
- Symphony Technology Group
- Target
- Momentive Global Inc. (MNTV)
- Buyer type
- Strategic
- Offer price per share
- $9.46
- Enterprise value
- $1.40B
- Status
- Closed May 31, 2023
Deal protections
- Break fee (target pays)
- $52.0M · 3.5%
- Reverse fee (buyer pays)
- $104M · 6.9%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Qatalyst
Sector context · Tech
- Comparable deals
- 64 in the prior 24 months
- Premium
- 46.0% vs. 38.5% sector median
- EV / Adj. EBITDA
- Sector median 17.8x
- Break fee
- 3.5% vs. 3.0% sector median
Timeline
- AnnouncedMar 13, 2023
- Proxy filedApr 17, 2023
- Definitive proxyApr 27, 2023
- Shareholder voteMay 31, 2023
- ClosedMay 31, 2023
Valuation · fairness opinions
Discounted cash flow$7.52$10.48
Discounted cash flow$6.32$10.96
Discounted cash flow$6.40$11.10
Discounted cash flow$4.96$7.44
Discounted cash flow$5.57$8.35
Offer $9.46
Implied value per Momentive Global Inc. share by analysis, from Qatalyst.