Greetings, DM&A Readers,
Every year we publish a year-in-review issue of the DM&A newsletter (which should be landing in your in-basket right about now).
In this issue you'll find our listing of the 100 leading transactions of 2003, with a special focus on the year's leading 25 transactions. And we've also provided a listing of the year's top 10 buyers (a sign of the times: the first-ranked buyer is a private equity house).
You'll also find an article contributed by David Brinkley, who heads up the M&A Consulting Services practice at DFI International. David's article is also of the "year-in-review" variety, but focuses on drivers affecting deal valuations, and examines trends which are likely to affect dealmaking in the coming year. This won't be the last you'll be seeing of David, or of DFI International, in the pages of DM&A. We look forward to the quantitative focus they will be bringing to our service.
Finally, this issue of DM&A features another first: an interview. Paul Serotkin of Minuteman Ventures (a returning contributor to DM&A) visits with Stanley Associates' Phil Nolan, a CEO who is making a mark in the very active IT services marketplace. With his strong grounding in the government technology services (GTS) marketplace, Paul will be making an important and continuing contribution to this service.
And look for further interviews with key industry players in coming issues of DM&A.
In addition to appearing in the January 2004 newsletter, all items discussed above are available for download from the Charts & Tables page, which can be accessed from the DM&A Database's search screen.
Best wishes to all of you in the new year.
Best regards,

Stuart McCutchan
Editor
Defense Mergers & Acquisitions (DM&A)
February 4, 2004