Cendant - M&A Summary and Business Overview

Consumer ServicesCompany

Cendant M&A Summary

Cendant has acquired 8 companies. A total of 3 acquisitions came from private equity firms. It has also divested 8 assets.

Cendant’s largest acquisition to date was in 2001, when it acquired Galileo International for $2.9B. It’s largest disclosed sale occurred in 2006, when it sold Travelport Worldwide to TCV for $4.3B. Cendant has acquired in 4 different US states, and 3 countries. The Company’s most targeted sectors include internet software and services (38%) and business services (13%).

Cendant Business Overview

Where is Cendant headquartered?

Cendant is headquartered in New York, New York.

What sector is Cendant in?

Cendant is a consumer services company.

When was Cendant founded?

Cendant was founded in 1998.

M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity8
    • M&A Sell Activity8
  • Total Sectors Invested 6
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 10
  • M&A Advisors 2

Cendant Corp.

New York, New York
United States,
www.cendant.com

Cendant Corp. was a collection of business and consumer services companies. Cendant was formed in 1998 between the merger of Hospitality Franchise Systems and CUC International.


M&A Summary

Buy vs Sell

Year ≤ '06 '07 '08 '09 '10 '11 T
Buy (0.0/yr) # 8 - - - - - 8
vol $6.1B $6.1B
Sell (0.4/yr) # 6 - - - - 2 8
vol $6.2B $6.2B
  16

Most Recent M&A

Company Date Value Type
GTA Travel 2011-03-18 - Divestiture
Los Angeles, California · www.gta-travel.com
Jackson Hewitt Tax Service, Inc. 2011-01-01 - Divestiture
Parsippany, New Jersey · www.jacksonhewitt.com
Travelport Worldwide Ltd. 2006-08-23 4.3B USD Divestiture
Langley, United Kingdom · www.travelport.com
Anywhere Real Estate Inc. 2006-07-31 - Spin Off
Madison, New Jersey · www.anywhere.re
Travel + Leisure Co. 2006-07-31 - Spin Off
Orlando, Florida · www.travelandleisureco.com
ebookers plc 2005-02-01 322M GBP Add-on Acquisition
London, United Kingdom · www.ebookers.com
GTA Travel 2004-12-16 1.1B USD Add-on Acquisition
Los Angeles, California · www.gta-travel.com
Orbitz Worldwide, Inc. 2004-09-29 1.3B USD Add-on Acquisition
Chicago, Illinois · www.orbitz.com
International Life Leisure Ltd. 2002-10-24 - Add-on Acquisition
Earby, United Kingdom
National Car Parks Ltd. 2002-05-01 1.4B EUR Divestiture
London, United Kingdom · www.ncp.co.uk
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Internet Software and Services 3 (38%) 2.0B (33%) - -
Consumer Services 1 (13%) 1.1B (18%) 2 (25%) 1.4B (22%)
Business Services 1 (13%) - 1 (13%) -
Information Technology 1 (13%) 2.9B (47%) 1 (13%) 4.3B (69%)
Leisure 1 (13%) - 1 (13%) -
Marketing 1 (13%) 125M (2%) - -
Insurance - - 1 (13%) 220M (4%)
Publishing - - 1 (13%) 345M (6%)
Real Estate - - 1 (13%) -
Total 8 $6.1B 8 $6.2B

By Geo

State/Country Buy Value Sell Value
United States 5 2.9B 5 345M
  California 2 1.2B 1 -
  New Jersey 1 - 2 -
  Illinois 1 1.3B - -
  Hawaii 1 425M - -
  Michigan - - 1 345M
  Florida - - 1 -
United Kingdom 2 322M 3 5.9B
1 2.9B - -
  New Jersey 1 2.9B - -
Domestic 5 (63%) 2.9B (47%) 5 (63%) 345M (6%)
Cross-border 3 (38%) 3.2B (53%) 3 (38%) 5.9B (94%)
Total 8 $6.1B 8 $6.2B

Top M&A Advisors

Financial Deals
Citigroup Investment Banking
1
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
1

Deal Values

buy # Total
> $1B 3 $5.3B
$100M to $1B 3 $872M
TOTAL $6.1B
Largest Galileo International, Inc.
$2.9B (2001-06-19)
sell # Total
> $1B 2 $5.7B
$100M to $1B 2 $565M
TOTAL $6.2B
Largest Travelport Worldwide Ltd.
$4.3B (2006-08-23)

M&A Connections

Deals
Acquired from
Investor(s)
38%
3 (38%)
Divested to
Investor(s)
50%
4 (50%)
Strategic(s)
13%
1 (13%)

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