Though the two largest software merger and acquisitions (M&A) transactions of 2008 were insurance-related, such activity in financial services dropped in 2008, according to Berkery Noyes, an advisory and financial consulting services firm specializing in M&A.

The largest transaction announced in 2008 was CCC Information Services Inc., a portfolio business of Investcorp, proposed acquisition of Mitchell International Inc., a subsidiary of Aurora Capital Group, for $1.40 billion. The proposition stirred up some controversy with the Federal Trade Commission’s (FTC) intent to oppose the merger.

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