Mergers & TribulationsTransaction Database
ContactSubscribe
Back

Fairness Opinion Detail

RATE FOOpen source

Bankrate, Inc. to Red Ventures

Internet/Ecom/Jul 2017/JPMorgan

Deal Information

Target
Bankrate, Inc.
Acquiror
Red Ventures
Sector
Internet/Ecom
Target Type
Public
Acquiror Type
Strategic
Advisors
JPMorgan

Transaction Metrics

Enterprise Value
$1.4B
EV / LTM Sales
EV / LTM EBITDA
11.4x
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: JPMorgan

EV / 1-year forward EBITDA selected range: 7.5x - 11.5x

12 comps
Feb 2017Operating business of Yahoo! Inc.
(1) Based on renegotiated transaction value announced on February 21, 2017.
Verizon Communications Inc.---5.7x
Oct 2016Everyday Health, Inc.Ziff Davis, LLC---7.7x
Jul 2016Operating business of Yahoo! Inc.
(2) Based on original transaction value announced on July 25, 2016.
Verizon Communications Inc.---7.3x
Apr 2016Ancestry.com Inc.
(3) Based on EBITDA for the 12 months ended March 31, 2016.
Silver Lake Partners---9.8x
Nov 2015Insurance business of Bankrate, Inc.All Web Leads, Inc.---7.5x
May 2015AOL Inc.Verizon Communications Inc.---8.5x
Sep 2014Move, Inc.News Corp.---24.5x
Sep 2014Conversant Inc.Alliance Data Systems Corp.---10.0x
Aug 2014Classified Ventures, LLC (Cars.com)
(4) Based on expected revenue and EBITDA for 2014 at the time of the announcement.
Gannett Co., Inc.---11.6x
Mar 2014Apartments.com business of Classified Ventures, LLCCoStar Group, Inc.---16.6x
Oct 2012Ancestry.com Inc.Permira---8.1x
Aug 2012About GroupIAC/InteractiveCorp---8.6x
Mean--10.5x
Median--8.6x