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Transaction Multiples for the Valuation of Private Companies

Francois-Charles Oberthur Fiduciaire (FCOF) / Oberthur Card Systems (Oberthur Technologies)

No EMAT : 21585
Announced Date : 24/09/2007
Type : Acquisition of Majority Stake
Deal Value : Yes
Acquirer : Francois-Charles Oberthur Fiduciaire (FCOF)

Target : Oberthur Card Systems (Oberthur Technologies)
Country : France
Sector of activity :
  • Technology Hardware & Electronic Equipment > Semiconductors
  • Electronic Equipment (for corporates) > Technology Hardware & Electronic Equipment > Electronic Security Systems
  • Business Software > Software > Security Software
Business Description :
Oberthur Card Systems (OCS) manufactures smart cards, magnetic stripe cards, and related software and equipment. > Four business lines: Card Systems: world’s second largest provider of security and...

Transaction multiples available
EV/
Sales
EV/
Gross Profit
EV/
EBITDA
EV/
EBIT
Eq/
PBT
P/E Price
to Book
Specific
multiple(s)
Historic
Current
Rating : **
Multiple available
n.s.   Multiple calculated, but not significant

Source: Epsilon Research / EMAT

Comparable Transactions

  • Number of EMAT Reports / sub-sector « Semiconductors » = 56
  • Number of EMAT Reports / sub-sector « Electronic Security Systems » = 57
  • Number of EMAT Reports / sub-sector « Security Software » = 70
Example of comparable transactions on EMAT (same sub-sector):
Date Acquirer Target Country Multiples See details
19/02/2008 Oberthur Technologies XponCard Group Sweden ** 21581
14/06/2010 Standard Microsystems (SMSC) Wireless Audio IP (trading as STS) Netherlands * 21214

Source: Epsilon Research / EMAT

About Epsilon Research

Epsilon Research is an independent research and financial analysis bureau, and the reference source of transaction multiples for the valuation of private companies through its EMAT database.

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► Each EMAT Report includes the detailed analysis of the transaction: deal rationale and structure, target business lines and financials (restated), valuation multiples (calculation and analysis).

 

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