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September 2011 - Monthly Briefing


With 245 European technology deals in the month, M&A activity increased in September following the holiday lull in August. However, despite a good level of deal flow, valuation multiples have continued to move downwards in line with the significant fall in the TechMARK index during the last two months. The median Price/Earnings multiple in September was 13.7 and the median Price/Sales multiple was 1.02.


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