Business Services Industry

NO. OF VENTURE-BACKED CO.S ACQUIRED IN Q1 DECLINED TO 96 LEVELS.

AsiaPulse News, May, 2003

(For a full text of statement, contact www.asianet.com.au)

NEW YORK, May 13 /PRNewswire-AsiaNet/ --

According to Thomson Venture Economics and the National Venture Capital Association, 65 venture-backed companies were acquired through merger or acquisition for a total disclosed value of $1.34 billion in the first quarter of 2003. These figures represent a decline from the fourth quarter of 2002, when 83 companies attracted $1.62 billion.

Mirroring conditions in the broader, non-venture-backed, domestic M&A market, the decline in the first quarter represents the lowest dollar total since the first quarter of 1996, when 27 companies were acquired for $1.23 billion. The uncertainty of economic and global conditions served to further depress an already...

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