Kuhn Capital's M&A Roundup presents ongoing commentary on late-breaking developments in IT and business services M&A. If you’d like to receive your own copy, subscribe here. And if you wish, you may unsubscribe here.

Dispatches from the Front

Image The Media at War
The remarkable politicization and polarization of American media into liberal and conservative camps is having an effect on competitor’s market shares, particularly in television and radio. We suspect the Iraq war and its aftermath represent a tipping point in American media audience loyalty, and therefore an opportunity to establish long-lasting market share advantage.

Read the Dispatch...

Current M&A News

Image Tech Services: The New Schizophrenia
Industry pressures are splitting the tech services vendor into two distinctly different, but related, businesses. Managing them both will require a new level of sophistication.

Wolters Kluwer Buys Skolar
Wolters Kluwer, the $3.4 billion information powerhouse based in The Netherlands, announced in late March its purchase of Skolar, an online provider of medical clinical data and distance learning.

Network Associates Locks Up Two More
Internet and network security firm Network Associates is on an M&A tear, announcing this week the acquisitions of server intrusion protection specialists Entercept and Intruvert for a combined $220 million. Both companies provide software aimed at keeping hackers out of critical systems and both, coincidentally, are based in San Jose, CA.

Mezzanine Slice Gets More Respect
A recent report by private investment bank Mayfair Associates concludes that as regulated lenders and financiers lose their appetite for risk and approach financial forecasts more skeptically, more middle market companies are turning to mezzanine level debt for funding.

What Are VC's Doing for a Living?
VentureWire released its quarterly VC investment statistics a few days ago and the news was… even further declines in portfolio company funding. For 2003Q1, VC’s put to work $3.4 billion versus $6.2 billion during this quarter last year. The trend is also well down from 2002Q1’s $4.9 billion. The pace of deal closings have now reached mid-1990 levels and “… there are many fewer active venture capitalists,” according to VentureWire’s Ken Anderson.

Thomson's Elite Touch
Acquisition-hungry Thomson Financial announced today its purchase of Elite Information Services -- a financial and legal services management applications provider – for $122 million.

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