Technology, Software and Information & Business Services

2H12

M&A and Investments Review Deal Technology, Software and Notes Information & Business Services

2012 Review of M&A and Investment Activity in the Technology, Overview 1 Software and Information & Business Services Industries: Segment Analysis 2,783 Transactions Totaling a Reported Technology 5 Marketing Technology 6 $101 Billion; Volume Up 15 Percent in 2012; Software 7 Communications 8 28 +$1 Billion Transactions During the Year Information & Business Services 9

Information & Business Services was the Most Active Segment Recent Transactions 10 in 2012 with 803 Transactions Announced About Petsky Prunier 11 Software was the Highest Value Segment in 2012 with $40.6 Billion in Reported Deal Value

During 2012, Petsky Prunier tracked 2,783 M&A and investment transactions for a total of $101 billion across five broad segments: Technology, Marketing Technology, Software, Communications and Information & Business Services. Information & Business Services was the most active segment with 803 transactions announced, of which 644 reported $27.8 billion in total deal value. The highest value segment was Software with 772 deals announced, of which 494 reported $40.6 billion in aggregate deal value. There were 28 +$1 billion transactions during the year, 12 of which were announced in the Software segment, while 10 were announced in the Information & Business Services segment.

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Technology, Software and Information & Business Services Industries Technology, Software and Information & Business Services Industries 4Q11–4Q12 M&A and Investment Activity 2012 M&A and Investment Activity ($ in Billions) ($ in Millions)

Securities offered through Petsky Prunier Securities, LLC 1 Deal Notes Second Half 2012

M&A Activity

There were 1,650 mergers and acquisitions announced in 2012, of which One Equity Partners’ $1.1 billion acquisition of M*Modal, a clinical 1,008 reported $86.7 billion in aggregate deal value. M&A activity was flat documentation solutions provider, including clinical narrative capture while value fell 23 percent compared to 2011 – the year in which Autonomy and clinical documentation workflow solutions, at 2.4x revenue and was acquired by Hewlett-Packard for $10.3 billion, Motorola Mobility was 9.2x EBITDA bought by Google for $9 billion and Microsoft acquired Skype for $8.5 billion. Information & Business Services was the most active segment in Marketing Technology was the third-most active M&A segment 2012, accounting for 42 percent and 29 percent of total M&A activity and with 293 transactions announced, of which 82 reported $7.2 billion reported value, respectively. The segment was lead by the IT Consulting/ in aggregate deal value. Activity in the segment during 2012 was driven System Integration subsegment, with 513 transactions announced, of which by heightened competition among technology and software companies 476 deals reported $7.9 billion in aggregate value. The next most active that are building diversified analytics, production and workflow subsegments were Corporate Training, with 44 transactions announced, management stacks. Transactions announced during the second half of which 37 reported $157 million in aggregate deal value, and Market of the year included: Research, with 35 transactions announced, of which eight reported $2.9 billion in aggregate deal value. M&A deals in the Information & Business Oracle’s planned purchase of newly-public Eloqua, which provides Services segment during the second half of the year included: SaaS-based B-to-B marketing automation solutions focused on demand generation and lead management, for $810 million, Experian’s $1.5 billion acquisition of Serasa, a Brazil-based financial valuing the company at $871 million net of cash, or 9.7x revenue information and analysis company, at 5.8x revenue and 16.2x EBIT Sony’s $775 million acquisition of So-net Entertainment, a Japan- Vitalize Consulting Solutions’ $493 million acquisition of MaxIT based Internet service provider, at a valuation of 1.6x revenue and Healthcare Holdings, an IT and professional consulting company 10.6x EBITDA providing clinical IT implementation services to healthcare providers Cisco Systems’ acquisition of ThinkSmart Technologies, an Ireland- DigitalGlobe’s $453 million acquisition of GeoEye, a provider of based software company that delivers location data analysis using geospatial information and insight for decision makers and analysts, Wi-Fi technology at a valuation of 1.3x revenue and 2.6x EBITDA There were 54 and 212 acquisitions announced in the Technology and The highest value M&A segment in 2012 was Software with 392 Communications segments, respectively. The Technology segment transactions announced, of which 151 reported $36.2 billion in was lead by Cloud Computing Technology, Big Data Technology and aggregate deal value. The Healthcare Software subsegment accounted Financial Technology, each with 10 acquisitions announced. The most for 18 percent of aggregate M&A deal value in the segment, followed active and highest value Communications segment was Networking by ERP Software and Financial Software, with 19 percent and 11 percent Equipment with 91 acquisitions announced, of which 88 reported of the segment’s reported value, respectively. Transactions in the Software $5.8 billion in aggregate deal value. Transactions in the Technology and segment during the second half of the year included: Communications segments during the second half of the year included:

Dell’s $2.4 billion acquisition of IT management solutions provider VMware’s $1.3 billion acquisition of Nicira, a provider of network Quest Software, which offers critical components that will be used virtualization solutions for cloud data centers, which reported to expand and enhance Dell’s systems management, security, business $10 million in annual revenues intelligence and application capabilities. Following the purchase, Quest Cisco’s $1.2 billion acquisition of Meraki, a provider of cloud- Software was valued at $2.2 billion, or 2.5x revenue and 14.0x EBITDA managed products, including LAN, Ethernet switches, security IBM’s $1.2 billion acquisition of Kenexa, a provider of on-demand appliances and mobile device management, to head up its new human resources software, valuing the company at 3.8x revenue and Cloud Networking group 45.0x EBITDA

2012 Most Active Strategic Buyers by Number of Transactions

Number of Buyer Transactions Representative Targets Oracle 11 ClearTrial, Collective Intellect, DataRaker, Eloqua, Instantis, SelectMinds, Taleo, Vitrue IBM 10 Butterfly Software, Green Hat Software, Kenexa, Red Bend Software, StoredIQ, Vivisimo Google 8 Incentive Targeting, Meebo.com, Quickoffice, Sparrow, TxVia, Viewdle, VirusTotal Cisco Systems 7 BroadHop, Cariden Technologies, ClearAccess, Cloupia, Meraki, ThinkSmart Technologies Thomson Reuters 6 Apsmart, Avanon, FX Alliance, Logiciel Dr Tax Software, MarkMonitor, RedEgg Solutions Dell 6 Credant Technologies, Kitenga, Make Technologies, Quest Software, Wyse Technology Salesforce.com 6 BlueTail, Brighter Option, Buddy Media, ChoicePoass, GoInstant, Thinkfuse WPP Group 6 Cadem Advertising, CIC, First Movies International, Oasis Insights, Predictys, Press Index Konica Minolta 6 Covisia Solutions, Netnowledge, PC Solutions, Service Assurnace, WaveTwo Microsoft 5 Marketing Pilot Software, Perceptive Pixel, PhoneFactor, StorSimple, Yammer VMware 5 Cetas Software, DynamicOps, Log Insight, Nicira, Wanova

2 Deal Notes Second Half 2012

Investment Activity Buyer & Investor Activity

There were 1,133 investments announced in 2012, of which 1,020 Strategic buyers announced 1,504 deals, of which 912 reported $66.7 reported $14.3 billion in aggregate deal value in 2012. Marketing billion in aggregate deal value. Information & Business Services was the Technology was the most active investment segment, with 464 deals most active segment among strategics, with 633 acquisitions announced announced, of which 419 were reported for $4.1 billion in aggregate in 2012, while Software was the highest value segment with $29 billion deal value. Volume in the segment increased 19 percent from 2011. in reported deal value. The most active buyers across these two leading Content Management was the most active subsegment in 2012 with segments were Oracle, Kronos and Trimble Navigation with six, four 89 investments announced, of which 81 reported $850 million in total and four acquisitions announced during the year. deal value. Investments in the CRM subsegment increased 88 percent from 2011, while reported value rose 255 percent to $159 million. Buyout firms announced 146 acquisitions in 2012, of which 96 reported Investments in the segment during the second half of the year included: $19.2 billion in aggregate deal value. A combined total of 110 of those transactions were in the Information & Business Services and Software The $85 million investment in Evernote, which operates a personal segments, accounting for 75 percent of total reported buyout volume data and productivity management application for the web and and nearly 80 percent of reported value. Buyout transactions announced mobile devices, from m8 Capital, Valiant Capital and T. Rowe Price, in the second half of the year included: at a $2 billion valuation The $60 million Redpoint Ventures-led investment in Zendesk, The Blackstone Group’s $2 billion buyout of Vivint, a provider a customer services company offering web-based SaaS-delivered help of home automation systems, at 5.5x revenue desk/support Hellman & Friedman’s $1.5 billion buyout of Wood Mackenzie, a The SoftBank Capital-led $39 million investment in retargeter Criteo UK-based provider of subscription-based online research consulting, at a valuation of $800 million market research and training services to help clients value assets Thoma Bravo’s $89 million buyout of Deltek, a provider of enterprise The Software segment saw 380 investments, with 343 reporting software and information solutions for professional services firms and $4.4 billion in aggregate deal value. The Infrastructure Software and government contractors, valued at $1 billion, or 2.9x revenue and Healthcare Software subsegments together accounted for 38 percent 17.7x EBITDA and 27 percent of the segment’s investment activity and reported value. Investments in the segment during the second half of the year included: Venture and growth capital investor activity and reported value increased by 44 percent and 50 percent, respectively, from 2011, with Technology Crossover Ventures’ $136 million investment in 1,133 investments announced, of which 1,020 reported $15 billion in Alarm.com, a wireless security systems company currently offering aggregate deal value. Accel Partners and Andreessen Horowitz were the interactive security and video monitoring solutions most active investors in 2012, each announcing 15 investments, followed The $130 million investment in Barracuda Networks, a provider of by Google Ventures with 14 investments announced and Intel, New content security, data protection and application delivery solutions, Enterprise Associates and Norwest Venture Partners, which announced from Francisco Partners and Sequoia Capital 12 investments each. The $100 million Andreessen Horowitz-led investment in GitHub, which offers an online workflow collaboration platform for application developers, at a valuation of $750 million

2012 Most Active Investors by Number of Transactions

Number of Buyer Transactions Representative Targets Accel Partners 15 Capital Access Network, Cloudera, MobileSpaces, Pplex Systems, Qualtrics, Trifacta Andreessen Horowitz 15 Bluebox, CipherCloud, Congergent.io Technologies, Flutype, IFTTT, Pindrop Security Google Ventures 14 Adimab, Apptentive, ClearStory Software, Egnyte, TrueLens, UpThere, Eingu, Yesware Intel Corporation 12 Adaptivity, AtHoc, BrightEdge, Indisys, Movea, Recard Solutions, ScienceLogic New Enterprise Associates 12 10gen, Aerospike, BloomReach, Compass Labs, Freshplum, Lattice Engines, SugarCRM Norwest Venture Partners 12 Act-On Software, Adaptive Planning, Elemental Technologies, Pertino Networks, ScaleIO Battery Ventures 11 Avalara, Continuuity, Duetto Research, Neolane, Platfora, SingleHop, SumAll, Tealium Sequoia Capital 10 Birst, Bit9, Capillary Technologies, Clustrix, Kaminario, Medallia, Nimble Storage, Okta Kleiner Perkins Caufield & Byers 8 AppDynamics, ClearStory Data, Drawbrdige, Shape Security, Simplivity, Vline, Yapp Crosslink Capital 8 500friends, Affine, Coupa Software, GraphDive, Inbound Writer, RichRelevance, Scripted Flybridge Capital Partners 8 Crashlytics, FirstBest Systems, Nasuni, PatientKeeper, Predilytics, Stormpath, Viewfinity General Catalyst Partners 8 Aidin, BigCommerce, Locu, ownCloud, ParElastic, Parlay Labs, This Technology, Yottaa Madrona Venture Group 7 2nd Watch, Bizible, buuteeq, Context Relevant, Snupi Technologies, ThisLife Khosla Ventures 7 AliveCor, Bitly, CellScope, Metamarkets Group, Nirvanix, OneID, ParStream

3 Deal Notes Second Half 2012

IPO Activity Technology, Software and Information & Business Services Industries 4Q12 M&A and Investment Activity There were 32 IPOs in the Technology, Software and Information ($ in Millions) & Business Services industries in 2012, 13 of which were in the Software segment. While 18 companies priced at the high-end or above their initial filing ranges, 16 closed in December trading above their first trading day close price, including AVG Technologies, Demandware, E2open, Eloqua, EPAM Systems, Fleetmatics Group, Greenway Medical Technologies, Kyland Technology, Nable Communications, Realogy Holdings, Ruckus Wireless, ServiceNow, Synacor, Vocera Communications, Wageworks and Workday. BlackStratus, goldenTech, NSFOCUS Information Technology, Reval Holdings, Shanghai Amarsoft Information Technology and Shenzhen Tinno Mobile Technology submitted their IPO filings in 2012 but have yet to price.

4Q12 M&A and Investment Activity

A total of 678 transactions were announced in 4Q12, with 450 announced totaling $19.5 billion in aggregate deal value. Software was the most active and highest value segment in 4Q12, with 197 deals announced, of which 114 reported $6.3 billion in aggregate deal value. The largest deal in the segment was RedPrairie’s $1.9 billion acquisition of JDA Software Group, valuing the company at 2.9x revenue and 11.3x EBITDA. The largest acquisition during the quarter in the Marketing Technology segment was Oracle’s announcement of its pending purchase of newly-public Eloqua for $810 million in an all-cash deal.

4 Deal Notes Second Half 2012 Technology

M&A and Investment Activity

Among Technology companies, Petsky Prunier tracked 163 transactions in 2012, of which 61 were reported in the fourth quarter. Financial Technology and Big Data Technology were the most active subsegments throughout the year, with 30 and 29 deals announced, respectively. Activity in the Big Data Technology subsegment increased 200 percent during the fourth quarter, with 15 deals announced, while reported value rose more than twelve-fold from $16 million to $199 million. Transactions in the subsegment that were announced during the second half of the year included:

The $65 million Accel Partners-led investment in Cloudera, a big data technology company providing Apache Hadoop-based data management software and services The $25 million Meritech Capital Partners-led investment in DataStax, a provider of a big data platform for enterprise applications IBM’s acquisition of StoredIQ, which has developed open platform information governance solutions that dynamically index and analyze unstructured enterprise data

The third-largest subsegment for 2012 was Cloud Computing Technology, with 28 deals announced, of which 21 reported $2.8 billion in aggregate deal value. Transactions from the second half of the year included:

Cisco’s $1.2 billion acquisition of Meraki, a provider of cloud-managed products, including LAN, Ethernet switches, security appliances and mobile device management, to head up its new Cloud Networking group, and its $100 million acquisition of Cloupia, which provides cloud automation and management software solutions to small, medium and large enterprises The $33 million investment in Nutanix, a provider of cloud automation and management software solutions to small, medium and large enterprises, from Lightspeed Venture Partners and Khosla Ventures

Most Active Technology Subsegments Most Active Technology Subsegments 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Reported Subsegment Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Value Financial Technology 7 263 7 122 30 987 76% 136% Big Data Technology 5 16 15 199 29 238 222% (41%) Cloud Computing Technology 10 149 14 1,473 28 2,767 300% (54%) Cloud Storage 8 182 11 114 20 298 300% (48%) Data Center Technology 7 168 3 43 17 1,922 1,600% NM Virtualization Technology 8 1,334 4 195 14 1,555 367% NM Mobile Infrastructure 2 376 3 11 13 489 1,200% NM Enabling Technology 5 46 4 20 10 74 NM NM Home Automation Technology 1 2,000 0 0 2 2,013 NM NM Total 53 4,532 61 2,176 163 10,341 279% 40%

Most Active Marketing Technology Subsegments Buyer & Investor Activity 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Reported StrategicSubsegment buyers accounted for 31 percentTransactions of all transactions($MM) in the segmentTransactions during 2012,($MM) with 51Transactions transactions announced($MM) andTransactions 21 deals reportedValue for $5.2Content billion Management in aggregate reported deal value.46 Venture and153 growth capital28 investors announced340 109 transactions,133 of1,316 which 100 reported71% $2 billion70% in Social Technology 23 359 21 50 115 1,902 (4%) 3% aggregateAnalytics & Reportinginvestment value. Financial Technology,21 Big Data97 Technology19 and Cloud Computing65 Technology76 were the281 most active23% subsegments among(63%) investors,Mobile Technology with 20, 19 and 18 deals announced13 during the 46year. Compared15 to 3Q12, activity136 across all56 buyers rose 15764 percent in(35%) the fourth quarter,(35%) Online Targeting/Optimization 14 133 10 164 47 422 21% (58%) whileCommerce value Management declined 52 percent. 17 207 11 43 45 385 (36%) (90%) BI tools 7 48 13 440 39 986 63% (35%) MRM/Workflow Management 8 24 13 82 31 268 72% 541% SFA/Lead Management 7 78 11 791 28 963 115% 321% TechnologyEmail/Messaging Software Transactions by Type6 of Buyer/Investor72 6 38 26 783 18% 163% CRM 5 Technology71 Transactions6 by Type29 of Buyer 25 1,124 (19%) (28%) Ad Serving 5 13 4 11 20 198 33% 10% 3Q12 4Q12 2012 2012 vs 2011 Subtotal 172 1,302 157 2,187 641 9,393 11% (% Change) (29%) Other Number of36 Reported 1,280Value Number33 of Reported 138Value Number116 of Reported1,929 Value Number(21%) of (71%) Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Total 208 2,582 190 2,326 757 11,322 4% (43%) Strategic 11 1,661 24 1,754 51 5,222 264% (23%) "Other"Private Equityincludes - Buyout Content Delivery Network, Creative Production1 Platform,2,000 Data Quality, Internet Service1 Providers, Market0 Research Technology,3 Marketing3,100 Asset Management,200% Media Management System,NM Product/PricePrivate Equity Software,- VC/Growth Search Capital & Discovery, Segmentation/Data41 Mining, SEM/SEO871 Tools, Teleservices/eServices,36 422Web to Print and Website109 Creation/Hosting2,020 289% 240% Total 53 4,532 61 2,176 163 10,341 279% 40%

Marketing Technology Transactions by Type of Buyer Most Active Communications Subsegments 3Q12 4Q12 2012 2012 vs 2011 3Q12 4Q12 2012 (%2012 Change) vs 2011 Number of Reported Value Number of Reported Value Number of Reported Value Number of (% Change) Buyer Type TransactionsNumber of ($MM)Reported ValueTransactions Number of Reported($MM) Value TransactionsNumber of Reported($MM) Value TransactionsNumber of ReportedReported Value SubsegmentStrategic Transactions75 741($MM) Transactions69 1,431($MM) Transactions281 5,955($MM) Transactions(10%) Value(51%) NetworkingPrivate Equity Equipment - Buyout 336 100626 182 3,3750 12311 6,283493 (52%)2% (86%)(49%) SatellitePrivate Equity and Microwave - VC/Growth Equipment Capital 13020 1,741 78 1196 895266 46543 4,874901 (4%)19% (42%)14% CommunicationsTotal Software 208 9 2,5821,482 19013 2,326173 75739 11,3222,073 30%4% (43%)(21%) Telephone Equipment 7 39 4 93 28 279 12% (90%) 5 Video Communications Software 6 18 4 42 14 300 56% (97%) Enterprise Mobility Management 5 Communications6 Transactions7 by Type365 of Buyer 12 371 500% 1,851% VoIP Equipment & Software 4 45 0 0 10 100 100% 32% Wireless Backhaul 2 3Q12 52 1 4Q12 0 7 2012 614 NM 2012 vs 2011 NM Messaging & Mediation Software 3 0 2 1 6 2 50% (% Change) (100%) Web Conferencing Software Number of1 Reported Value0 Number of3 Reported Value3 Number5 of Reported28 Value NumberNM of NM ProcessingBuyer Type & Transmission Equipment Transactions1 ($MM) 5 Transactions0 ($MM) 0 Transactions1 ($MM)5 Transactions0% Reported953% Value Network Infrastructure Software 0 0 0 0 0 0 NM NM Strategic 56 1,901 32 4,029 190 9,686 13% (60%) TotalPrivate Equity - Buyout 794 1012,350 586 4,318145 28822 10,956421 19%16% (84%)(62%) Private Equity - VC/Growth Capital 31 348 20 144 76 850 38% (56%) Total 94 2,350 58 4,318 288 10,956 19% (62%)

Software Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Strategic 76 6,905 95 5,205 349 28,976 34% 14% Private Equity - Buyout 13 2,660 7 0 44 7,220 38% (27%) Private Equity - VC/Growth Capital 90 1,025 95 1,046 379 4,382 75% 91% Total 179 10,591 197 6,251 772 40,578 52% 8%

M&A and Investment Activity

A total of 757 deals (293 acquisitions and 464 investments) were announced in the Marketing Technology segment in 2012, of which 501 reported value totaling $11.3 billion. The fourth quarter slowed compared to 3Q12, with a nine percent and 10 percent drop in volume and reported value, respectively. Content Management was the most active subsegment in 2012, with 133 announced transactions, of which 95 reported $1.3 billion in aggregate deal value. Compared to 2011, volume and reported value in the subsegment each increased more than 70 percent. Content Management transactions in the second half of the year included:

Perion Network’s $41 million acquisition of SweetIM Technologies, an instant messaging technology development company offering an emoticon and Internet chat add-on, valuing the company at 1.4x revenue and 4.6x EBITDA Markets.com’s $37 million acquisition of Crossrider, an Israel-based company operating a platform that enables Web developers to make extensions that work across various browsers Brightcove’s $30 million acquisition of Zencoder, an audio and video encoding/transcoding SaaS company, which was completed at 15.0x the company’s expected year-end revenues Most Active Technology Subsegments 3Q12 4Q12 2012 2012 vs 2011 Investment activity during 4Q12 was led by the Content Management and Social Technology subsegments, which accounted for 31 percent(% Change) of total investments announced in the segment. NumberCompared of toReported the third Value quarter, Number combined of Reported reported Value investment Number value of acrossReported these Value subsegments Number of increasedReported 60 percentSubsegment in 4Q12, while activity declinedTransactions 20 percent. The($MM) largest investmentTransactions in the segment($MM) duringTransactions the second half($MM) of the yearTransactions was the $85 millionValue Financial Technology 7 263 7 122 30 987 76% 136% investmentBig Data Technology in Evernote from m8 Capital, Valiant5 Capital and16 T. Rowe Price,15 at a $2 billion199 valuation.29 Additional investments238 in222% the segment included:(41%) Cloud Computing Technology 10 149 14 1,473 28 2,767 300% (54%) Cloud Storage 8 182 11 114 20 298 300% (48%) DataThe Center $62 Technology million growth capital investment7 in Mimecast,168 a provider of3 cloud-based email43 management17 solutions,1,922 led by Insight1,600% Venture PartnersNM VirtualizationSequoia Capital’s Technology $35 million investment 8in Medallia, 1,334which provides SaaS4 customer195 experience and14 enterprise feedback1,555 management367% solutions NM Mobile Infrastructure 2 376 3 11 13 489 1,200% NM Enablingto financial Technology services, retail, B-to-B and hotel5 companies 46 4 20 10 74 NM NM Home Automation Technology 1 2,000 0 0 2 2,013 NM NM Total 53 4,532 61 2,176 163 10,341 279% 40% Most Active Marketing Technology Subsegments Most Active Marketing Technology Subsegments 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Reported Subsegment Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Value Content Management 46 153 28 340 133 1,316 71% 70% Social Technology 23 359 21 50 115 1,902 (4%) 3% Analytics & Reporting 21 97 19 65 76 281 23% (63%) Mobile Technology 13 46 15 136 56 764 (35%) (35%) Online Targeting/Optimization 14 133 10 164 47 422 21% (58%) Commerce Management 17 207 11 43 45 385 (36%) (90%) BI tools 7 48 13 440 39 986 63% (35%) MRM/Workflow Management 8 24 13 82 31 268 72% 541% SFA/Lead Management 7 78 11 791 28 963 115% 321% Email/Messaging Software 6 72 6 38 26 783 18% 163% CRM 5 71 6 29 25 1,124 (19%) (28%) Ad Serving 5 13 4 11 20 198 33% 10% Subtotal 172 1,302 157 2,187 641 9,393 11% (29%) Other 36 1,280 33 138 116 1,929 (21%) (71%) Total 208 2,582 190 2,326 757 11,322 4% (43%)

"Other" includes Content Delivery Network, Creative Production Platform, Data Quality, Internet Service Providers, Market Research Technology, Marketing Asset Management, Media Management System, Product/Price Software, Search & Discovery, Segmentation/Data Mining, SEM/SEO Tools, Teleservices/eServices, Web to Print and Website Creation/Hosting

Technology Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 Buyer & Investor Activity Most Active Communications Subsegments (% Change) Number of Reported3Q12 Value Number of Reported4Q12 Value Number of 2012Reported Value Number of2012 vs 2011 Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value The most active strategic buyers in the segment during 2012 were Google and IBM, which announced six and five acquisitions, respectively.(% Change) Compared Strategic Number11 of Reported1,661 Value Number24 of Reported1,754 Value Number51 of Reported5,222 Value Number264% of Reported(23%) toSubsegmentPrivate 3Q12, Equity venture - Buyout and growth capital investmentTransactions1 activity2,000($MM) in the fourthTransactions quarter1 fell eight($MM)0 percent, Transactionswhile3 strategic buyer3,100($MM) activity Transactionsfell200% seven percent.ValueNM Private Equity - VC/Growth Capital 41 871 36 422 109 2,020 289% 240% Networking Equipment 36 626 18 3,375 123 6,283 2% (49%) Total 53 4,532 61 2,176 163 10,341 279% 40% Satellite and Microwave Equipment 20 78 6 266 43 901 (4%) (42%) MarketingCommunications Software Technology Transactions9 by1,482 Type of Buyer/Investor13 173 39 2,073 30% (21%) Telephone Equipment 7 Marketing39 Technology Transactions4 by93 Type of Buyer28 279 12% (90%) Video Communications Software 6 18 4 42 14 300 56% (97%) Enterprise Mobility Management 5 3Q12 6 7 4Q12 365 12 2012 371 500% 2012 vs 2011 1,851% VoIP Equipment & Software 4 45 0 0 10 100 100% (% Change) 32% Wireless Backhaul Number of2 Reported Value52 Number of1 Reported Value0 Number7 of Reported614 Value NumberNM of NM MessagingBuyer Type & Mediation Software Transactions3 ($MM) 0 Transactions2 ($MM) 1 Transactions6 ($MM)2 Transactions50% Reported(100%) Value WebStrategic Conferencing Software 75 1 741 0 693 1,431 3 2815 5,95528 (10%)NM (51%)NM ProcessingPrivate Equity & Transmission - Buyout Equipment 3 1 100 5 20 00 111 4935 (52%)0% (86%)953% NetworkPrivate Equity Infrastructure - VC/Growth Software Capital 130 0 1,741 0 1190 8950 4650 4,8740 NM19% 14%NM Total 20894 2,5822,350 19058 2,3264,318 288757 10,95611,322 19%4% (43%)(62%)

Communications Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 6 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Strategic 56 1,901 32 4,029 190 9,686 13% (60%) Private Equity - Buyout 7 101 6 145 22 421 16% (84%) Private Equity - VC/Growth Capital 31 348 20 144 76 850 38% (56%) Total 94 2,350 58 4,318 288 10,956 19% (62%)

M&A and Investment Activity

There were 772 transactions recorded (392 acquisitions and 380 investments) in the Software segment, of which 494 reported $40.6 billion in aggregate deal value. Compared to 3Q12, transaction activity in the fourth quarter increased 10 percent, and, due to three fewer +$1 billion deals, reported value fell 41 percent. Healthcare Software was the most active subsegment in 2012 with 140 deals announced (79 acquisitions and 61 investments), of which 66 reported $7.1 billion in aggregate deal value. Healthcare reform, the rising cost of care and the move toward digital health records, among other issues, have fueled a lively deal market, leading to an 18 percent increase in activity in the subsegment between the third and fourth quarters, with median EV/Revenue and EV/EBITDA multiples of 3.3x and 13.8x, respectively. Healthcare Software transactions announced during the second half of the year included:

One Equity Partners’ $1.1 billion acquisition of M*Modal, a clinical documentation solutions provider, including clinical narrative capture and clinical documentation workflow solutions, at 2.4x revenue and 9.2x EBITDA Thoma Bravo’s $156 million acquisition of Mediware Information Systems, a provider of clinical software solutions, at a valuation of 2.4x revenue and 14.1x EBITDA

Infrastructure Software, which announced 123 transactions (41 acquisitions and 82 investments), was also an active subsegment during 2012. Of those deals, 85 reported $4.9 billion in aggregate value. Transactions from the second half of the year included:

Riverbed Technology’s $990 million acquisition of OPNET Technologies, a provider of solutions for application and network performance management, valuing the company at $921 million, or 5.1x revenue and 27.3x EBITDA

Most Active Software Subsegments Most Active Software Subsegments 3Q12 4Q12 2012 2012 vs 2011 Technology Transactions by Type of Buyer (% Change) Number3Q12 of Reported Value Number 4Q12of Reported Value Number of2012 Reported Value Number2012 of vs 2011Reported Subsegment Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions(% Change) Value Healthcare Software Number of28 Reported 1,261Value Number33 of Reported 373Value Number140 of Reported7,084 Value Number49% of 29% InfrastructureBuyer Type Software Transactions21 ($MM)3,134 Transactions12 ($MM)1,110 Transactions123 ($MM)4,868 Transactions35% Reported521% Value ERPStrategic Software 1113 1,6611,424 2422 1,7542,755 8851 7,3175,222 13%264% (23%)(57%) FinancialPrivate Equity Software - Buyout 110 2,000656 151 2080 613 4,2363,100 (3%)200% 20%NM SoftwarePrivate Equity Development - VC/Growth Tools Capital 4116 871250 3617 422142 10961 2,020631 45%289% 240%55% Security Software 19 418 28 224 59 2,090 269% 19% HRTotal Software 5315 4,5321,907 6115 2,17650 16354 10,3414,358 38%279% 40%(7%) Collaboration Software 7 279 18 74 39 4,971 550% 3,666% Application Management Software 15 Marketing66 Technology13 Transactions by78 Type of Buyer37 163 825% (33%) Unclassified Software 11 304 1 0 34 637 3,300% 11,478% Data Management Software 7 3Q12 110 11 4Q12 110 23 2012 295 360% 2012 vs 2011 2% (% Change) Subtotal 162 9,809 185 5,124 719 36,650 64% 7% Other Number of17 Reported Value782 Number12 of Reported1,127 Value Number53 of Reported3,928 Value Number(24%) of 22% Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Total 179 10,591 197 6,251 772 40,578 52% 8% Strategic 75 741 69 1,431 281 5,955 (10%) (51%) "Other"Private Equityincludes - Buyout Credit/Risk Software, Engineering Software,3 Geo-Demo Software,100 Legal Software2 and Software Platform0 11 493 (52%) (86%) Private Equity - VC/Growth Capital 130 1,741 119 895 465 4,874 19% 14% Total 208 2,582 190 2,326 757 11,322 4% (43%) Buyer & Investor Activity Most Active Information & Business Services Subsegments 3Q12Communications Transactions4Q12 by Type of Buyer 2012 2012 vs 2011 Strategic buyers in the Software segment accounted3Q12 for 45 percent of all deals4Q12 and 71 percent of reported 2012value in 2012, announcing2012 19(% vsChange)more 2011 deals in 4Q12 than in the previous quarter. DuringNumber the of year, Reportedthe most Value active buyersNumber ofin theReported segment Value were Oracle,Number ofKronos Reported and Trimble Value Navigation,Number(% of Change) announcingReported Subsegment NumberTransactions of Reported ($MM)Value NumberTransactions of Reported($MM) Value NumberTransactions of Reported($MM) Value NumberTransactions of Value six,ITBuyer Consulting/Systems four Type and four Integrationacquisitions in 2012.Transactions Autodesk,154 Dell,($MM) 1,827IBM, NuanceTransactions Communications,123 ($MM)877 Salesforce.comTransactions562 and SAP($MM)9,149 were also active,Transactions(7%) each announcingReported(40%) Value threeMarketStrategic transactions. Research The number of venture5619 and growth1,901 1,619capital investments326 in 4Q124,029 1,236increased six percent,19054 while value3,0779,686 was flat (19%)from13% the previous(60%)95% quarter. CorporatePrivate Equity Training - Buyout 718 101 65 65 1450 5122 171421 21%16% (84%)(26%) PrivateHealthcarePrivate Equity equity Consulting - VC/Growth firms announcedCapital 44 buyouts31 5 in 2012, seven348 25 of which were204 announced144 in1 the fourth 17quarter.76 345850 (15%)38% (56%)(63%) Marketing Data 5 54 5 31 16 92 (6%) (93%) HealthcareTotal Information 94 4 2,350 58 581 4,31810 28815 10,9561,981 (40%)19% (62%)33% Financial Information 4 427 5 1,542 12 2,146 (40%) (13%) SoftwareStaffing Services Transactions by Type0 of Buyer/Investor0 5 700 12 1,775 71% 973% Business Process Outsourcing 3 1,087Software Transactions3 by Type of31 Buyer 9 1,136 (25%) 40% Financial Consulting 1 0 0 0 8 2,893 (11%) 10,306% Contact Center Services 1 3Q12 150 2 4Q12 1 6 2012 151 (25%) 2012 vs 2011 (76%) Credit/Risk Consulting 2 0 2 0 6 0 20% (% Change) (100%) Subtotal Number 216of Reported 5,312Value Number161 of Reported4,428 Value Number768 of Reported22,915 Value Number(8%) of (8%) OtherBuyer Type Transactions4 ($MM) 454 Transactions11 ($MM) 4 Transactions35 ($MM)4,893 Transactions(54%) Reported53% Value TotalStrategic 76220 6,9055,767 17295 5,2054,432 803349 27,80728,976 (12%)34% 14%(1%) Private Equity - Buyout 13 2,660 7 0 44 7,220 38% (27%) "Other"Private Equityincludes - VC/Growth Collections Capital Services, Credit/Risk Management90 Information,1,025 Engineering Consutling,95 Engineering/Scientific/Tech1,046 Information,379 Geo-Demo Consulting,4,382 Geo-Demo75% Information, HR Consutling,91% HRTotal Information, IT Information, Legal Consulting, Legal179 Information, Management10,591 Consulting, 197Product/Price Consulting6,251 and Product/Price772 Information 40,578 52% 8%

Information & Business Services Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value 7 Strategic 166 2,972 137 3,541 633 16,866 (15%) (24%) Private Equity - Buyout 17 1,559 16 707 66 8,030 (06%) 65% Private Equity - VC/Growth Capital 37 1,236 19 185 104 2,911 6% 203% Total 220 5,767 172 4,432 803 27,807 (12%) (1%) Deal Notes Second Half 2012 Communications Most Active Technology Subsegments 3Q12 4Q12 2012 2012 vs 2011 (% Change) M&A and Investment ActivityNumber of Reported Value Number of Reported Value Number of Reported Value Number of Reported Subsegment Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Value ThereFinancial wereTechnology 288 transactions announced (2127 acquisitions263 and 76 investments)7 in the 122Communications30 segment in987 2012. Of those76% deals, 266 136% Big Data Technology 5 16 15 199 29 238 222% (41%) reportedCloud Computing $11 billion Technology in aggregate deal value.10 Total value increased149 84 percent14 from the1,473 third to the fourth28 quarters,2,767 with 58 deals300% announced, of (54%)which Cloud Storage 8 182 11 114 20 298 300% (48%) 49Data reported Center Technology $4.3 billion in aggregate deal value.7 168 3 43 17 1,922 1,600% NM Virtualization Technology 8 1,334 4 195 14 1,555 367% NM Mobile Infrastructure 2 376 3 11 13 489 1,200% NM M&AEnabling and Technology Investment activity for the year was5 led by the Networking46 Equipment4 subsegment,20 with 10123 transactions74 (91 acquisitionsNM and NM 32Home investments) Automation Technology announced with 120 reporting1 $6.3 billion2,000 in aggregate 0deal value. Mean0 EV/revenue2 and EV/EBITDA2,013 were 2.3xNM revenue NM Total 53 4,532 61 2,176 163 10,341 279% 40% and 8.1x EBITDA, respectively. Notable transactions during the second half of the year included: Most Active Marketing Technology Subsegments Arris’ $2.4 billion acquisition (0.7x revenue) of Motorola3Q12 Mobility’s broadband4Q12 unit, Motorola Home 2012 2012 vs 2011 Ixia’s $160 million acquisition of BreakingPoint Systems, which offers security and performance testing products to network equipment(% Change) manufacturers and service providers, atNumber a valuation of Reportedof 4.0x Valuerevenue Numberand 20.7x of EBITDAReported Value Number of Reported Value Number of Reported Subsegment Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Value ContentThe Management$52 million investment in Affirmed46 Networks, a153 provider of technologies28 for 340wireless subscribers133 that offer1,316 management71% solutions that 70%integrate Socialsubscriber Technology platform inline services and content23 management359 into a single21 platform, led50 by Matrix 115Partners and Charles1,902 River Ventures(4%) 3% Analytics & Reporting 21 97 19 65 76 281 23% (63%) Mobile Technology 13 46 15 136 56 764 (35%) (35%) Online Targeting/Optimization 14 133 10 164 47 422 21% (58%) TheCommerce second-highest Management value subsegment was 17Communications207 Software with11 39 transactions43 announced45 (28 acquisitions385 and 11(36%) investments), (90%) BI tools 7 48 13 440 39 986 63% (35%) ofMRM/Workflow which 36 Managementreported $2.1 billion in aggregate8 deal value. 24In the fourth 13quarter, activity82 in the Communications31 Software268 subsegment72% increased 541% 44SFA/Lead percent. Management Transactions during the second 7half of the year78 included: 11 791 28 963 115% 321% Email/Messaging Software 6 72 6 38 26 783 18% 163% CRM 5 71 6 29 25 1,124 (19%) (28%) AdVerint Serving Systems’ $781 million acquisition of5 its parent company13 Comverse4 Technology,11 which provides20 software-based198 products33% for wireless, wireline10% Subtotaland cable network communication service172 providers, valuing1,302 the company157 at 0.5x revenue2,187 and 5.4x641 EBITDA 9,393 11% (29%) OtherAT&T’s $625 million acquisition of Nextwave36 Wireless,1,280 a developer of33 mobile multimedia138 and consumer116 electronic1,929 connectivity(21%) product solutions(71%) Total 208 2,582 190 2,326 757 11,322 4% (43%) that includes PacketVideo, which offers software for mobile handsets, client-server platforms for mobile media applications and software for sharing "Other" includes Content Delivery Network, Creative Production Platform, Data Quality, Internet Service Providers, Market Research Technology, Marketing Asset Management, Media Management System, Product/Pricemedia in theSoftware, connected Search & homeDiscovery, Segmentation/Data Mining, SEM/SEO Tools, Teleservices/eServices, Web to Print and Website Creation/Hosting

Most Active Communications Subsegments Most Active Communications Subsegments 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Reported Subsegment Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Value Networking Equipment 36 626 18 3,375 123 6,283 2% (49%) Satellite and Microwave Equipment 20 78 6 266 43 901 (4%) (42%) Communications Software 9 1,482 13 173 39 2,073 30% (21%) Telephone Equipment 7 39 4 93 28 279 12% (90%) Video Communications Software 6 18 4 42 14 300 56% (97%) Enterprise Mobility Management 5 Technology6 Transactions7 by Type365 of Buyer 12 371 500% 1,851% VoIP Equipment & Software 4 45 0 0 10 100 100% 32% Wireless Backhaul 2 3Q12 52 1 4Q12 0 7 2012 614 NM 2012 vs 2011 NM Messaging & Mediation Software 3 0 2 1 6 2 50% (% Change) (100%) Web Conferencing Software Number of1 Reported Value0 Number of3 Reported Value3 Number5 of Reported28 Value NumberNM of NM ProcessingBuyer Type & Transmission Equipment Transactions1 ($MM) 5 Transactions0 ($MM) 0 Transactions1 ($MM)5 Transactions0% Reported953% Value NetworkStrategic Infrastructure Software 11 0 1,661 0 240 1,754 0 510 5,2220 264%NM (23%)NM TotalPrivate Equity - Buyout 194 2,0002,350 581 4,3180 2883 10,9563,100 19%200% (62%)NM Private Equity - VC/Growth Capital 41 871 36 422 109 2,020 289% 240% Total 53 4,532 61 2,176 163 10,341 279% 40%

Buyer & Investor Activity Marketing Technology Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 Strategic buyers accounted for 66 percent and 88 percent of volume and reported deal value in 2012, respectively, with strategics’ value(% Change) increasing 112 percent in the fourth quarter. ThereNumber ofwere 76Reported investments Value announcedNumber of for theReported year, Value of whichNumber 71 reported of Reported$850 millionValue in Numberaggregate of deal value. Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value FourthStrategic quarter investment activity slowed,75 with a 35 percent741 and 58 percent69 decline1,431 in volume and 281reported value,5,955 respectively. Twenty-two(10%) private(51%) equityPrivate Equitydeals - wereBuyout recorded, six of which were3 announced100 in the fourth quarter.2 0 11 493 (52%) (86%) Private Equity - VC/Growth Capital 130 1,741 119 895 465 4,874 19% 14% Total 208 2,582 190 2,326 757 11,322 4% (43%) Communications Transactions by Type of Buyer/Investor Communications Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Strategic 56 1,901 32 4,029 190 9,686 13% (60%) Private Equity - Buyout 7 101 6 145 22 421 16% (84%) Private Equity - VC/Growth Capital 31 348 20 144 76 850 38% (56%) Total 94 2,350 58 4,318 288 10,956 19% (62%)

Software Transactions by Type of Buyer 8 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Strategic 76 6,905 95 5,205 349 28,976 34% 14% Private Equity - Buyout 13 2,660 7 0 44 7,220 38% (27%) Private Equity - VC/Growth Capital 90 1,025 95 1,046 379 4,382 75% 91% Total 179 10,591 197 6,251 772 40,578 52% 8%

M&A and Investment Activity

Information & Business Services was the most active segment in 2012 with 803 transactions announced (699 acquisitions and 104 investments), of which 644 reported $27.8 billion in aggregate deal value. Despite being the most active segment, volume and value in the fourth quarter fell 22 percent and 23 percent, respectively, from 3Q12, partly due to uncertainties surrounding the federal budget, leading to fewer deals announced from government services companies. IT Consulting/Systems Integration was the most active subsegment in 2012, accounting for 70 percent of the activity in the segment. Deals from the subsegment announced in the second half of the year included:

SAIC’s $493 million acquisition of MaxIT Healthcare Holdings,Most Active one Softwareof the largest Subsegments private independent healthcare IT consulting companies in the U.S. providing IT strategy and planning, electronic3Q12 health record implementation4Q12 and optimization services2012 2012 vs 2011 Infosys Technologies’ $349 million (approximately 1.4x revenue) acquisition of Lodestone Holding, a Switzerland-based information(% technology Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Reported Subsegmentand management consultancy for financial,Transactions pharmaceutical($MM) and consumerTransactions goods enterprises($MM) Transactions ($MM) Transactions Value Healthcare Software 28 1,261 33 373 140 7,084 49% 29% Infrastructure Software 21 3,134 12 1,110 123 4,868 35% 521% MarketERP Software Research was also an active subsegment13 in 20121,424 with 54 transactions22 announced,2,755 25 of which88 reported $3.17,317 billion in aggregate13% deal value.(57%) TransactionsFinancial Software in the subsegment from the second10 half of the656 year included:15 208 61 4,236 (3%) 20% Software Development Tools 16 250 17 142 61 631 45% 55% Security Software 19 418 28 224 59 2,090 269% 19% HRHellman Software & Friedman’s $1.5 billion acquisition15 of Wood1,907 Mackenzie, a15 UK-based provider50 of research54 and consulting4,358 services for38% the global energy,(7%) Collaboration Software 7 279 18 74 39 4,971 550% 3,666% Applicationmining, Management metal, oil, Software gas, coal, refining, power15 and electricity66 industries 13 78 37 163 825% (33%) UnclassifiedNielsen’s Software$1.3 billion acquisition of Arbitron,11 a chief competitor304 offering1 syndicated radio0 ratings 34services to radio637 broadcasters,3,300% advertising 11,478%agencies Data Management Software 7 110 11 110 23 295 360% 2% and advertisers, at 2.7x revenue and 9.3x EBITDA Subtotal 162 9,809Technology Transactions185 by Type5,124 of Buyer 719 36,650 64% 7% Other 17 782 12 1,127 53 3,928 (24%) 22% Navigant Consulting’s acquisition of Pike Research,3Q12 a market research and4Q12 consulting team comprised of2012 more than 300 experts that2012 provide vs 2011 analysis Totalof global clean technology markets 179 10,591 197 6,251 772 40,578 52% (% Change) 8% "Other" includes Credit/Risk Software, EngineeringNumber Software, of Geo-DemoReported Software, Value LegalNumber Software of and SoftwareReported Platform Value Number of Reported Value Number of Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Strategic 11 1,661 24 1,754 51 5,222 264% (23%) MostPrivate Equity Active - Buyout Information & Business1 2,000 Services Subsegments1 0 3 3,100 200% NM Private Equity - VC/Growth Capital 41 Most Active871 Information36 & Business Services422 Subsegments109 2,020 289% 240% Total 53 3Q124,532 61 4Q12 2,176 163 2012 10,341 279% 2012 vs 2011 40% (% Change) Number of MarketingReported Value Technology Number Transactions of Reported by Type Value of BuyerNumber of Reported Value Number of Reported Subsegment Transactions3Q12 ($MM) Transactions4Q12 ($MM) Transactions2012 ($MM) Transactions2012 vs 2011 Value IT Consulting/Systems Integration 154 1,827 123 877 562 9,149 (7%) (% Change) (40%) Market Research Number of19 Reported 1,619Value Number of6 Reported1,236 Value Number54 of Reported3,077 Value Number(19%) of 95% CorporateBuyer Type Training Transactions18 ($MM) 65 Transactions5 ($MM) 0 Transactions51 ($MM)171 Transactions21% Reported(26%) Value Healthcare Consulting 5 25 4 1 17 345 (15%) (63%) MarketingStrategic Data 75 5 741 54 695 1,43131 28116 5,95592 (6%)(10%) (51%)(93%) HealthcarePrivate Equity Information - Buyout 3 4 100 58 21 010 1511 1,981493 (40%)(52%) (86%)33% FinancialPrivate Equity Information - VC/Growth Capital 130 4 1,741427 1195 1,542895 46512 2,1464,874 (40%)19% (13%)14% StaffingTotal Services 208 0 2,582 0 1905 2,326700 75712 11,3221,775 71%4% (43%)973% Business Process Outsourcing 3 1,087 3 31 9 1,136 (25%) 40% Financial Consulting 1 0 0 0 8 2,893 (11%) 10,306% Contact Center Services 1 Communications150 Transactions2 by Type1 of Buyer 6 151 (25%) (76%) Credit/Risk Consulting 2 0 2 0 6 0 20% (100%) 3Q12 4Q12 2012 2012 vs 2011 Subtotal 216 5,312 161 4,428 768 22,915 (8%) (% Change) (8%) Other 4 454 11 4 35 4,893 (54%) 53% Number of Reported Value Number of Reported Value Number of Reported Value Number of TotalBuyer Type Transactions220 ($MM)5,767 Transactions172 ($MM)4,432 Transactions803 ($MM)27,807 Transactions(12%) Reported(1%) Value

"Other"Strategic includes Collections Services, Credit/Risk Management56 Information,1,901 Engineering Consutling,32 Engineering/Scientific/Tech4,029 Information,190 Geo-Demo Consulting,9,686 Geo-Demo13% Information, HR Consutling,(60%) HRPrivate Information, Equity - BuyoutIT Information, Legal Consulting, Legal 7Information, Management101 Consulting, Product/Price6 Consulting145 and Product/Price22 Information 421 16% (84%) Private Equity - VC/Growth Capital 31 348 20 144 76 850 38% (56%) Total 94 2,350 58 4,318 288 10,956 19% (62%)

Buyer & Investor Activity Software Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 Across 2012, strategic buyers accounted for nearly 80 percent of deals in the segment, while venture and growth capital investors accounted(% Change) for 13 percent. There were 66 buyout Numberdeals announced, of Reported of Valuewhich 49 Numberwere reported, of Reported totaling Value $8 billion.Number Compared of Reported to 3Q12, Value strategicNumber buyers of announced 17Buyer percent Type fewer transactions, whileTransactions venture and growth($MM) capital investorTransactions activity declined($MM) 49 percent.Transactions In 4Q12, private($MM) equityTransactions buyout activityReported was Value Strategic 76 6,905 95 5,205 349 28,976 34% 14% relativelyPrivate Equity flat - Buyout compared to the previous 13quarter, with 2,66016 deals announced.7 0 44 7,220 38% (27%) Private Equity - VC/Growth Capital 90 1,025 95 1,046 379 4,382 75% 91% Total 179 10,591 197 6,251 772 40,578 52% 8% Information & Business Services Transactions by Type of Buyer/Investor Information & Business Services Transactions by Type of Buyer 3Q12 4Q12 2012 2012 vs 2011 (% Change) Number of Reported Value Number of Reported Value Number of Reported Value Number of Buyer Type Transactions ($MM) Transactions ($MM) Transactions ($MM) Transactions Reported Value Strategic 166 2,972 137 3,541 633 16,866 (15%) (24%) Private Equity - Buyout 17 1,559 16 707 66 8,030 (06%) 65% Private Equity - VC/Growth Capital 37 1,236 19 185 104 2,911 6% 203% Total 220 5,767 172 4,432 803 27,807 (12%) (1%)

9 Deal Notes Second Half 2012 Recent Transactions

10 Deal Notes Second Half 2012

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