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September 2015 M&A and Investment Summary Table of Contents

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September 2015 M&A and Investment Summary Table of Contents September 2015 M&A and Investment Summary Table of Contents 1 About Petsky Prunier 3 2 Overview of Monthly M&A and Investment Activity 6 3 Monthly M&A and Investment Activity by Industry Segment 12 4 Additional Monthly M&A and Investment Activity Data 42 Securities offered through Petsky Prunier Securities, LLC, member of FINRA. This M&A and Investment Summary has been prepared by and is being distributed in the United States by Petsky Prunier, a broker dealer registered with the U.S. SEC and a member of FINRA. Petsky Prunier is not affiliated with Altium Capital Ltd, but has partnered with Altium to expand its international presence. Altium has not prepared or verified the information in this Summary. Persons in the United States should contact Petsky Prunier for further information or services. This M&A and Investment Summary is not being distributed by Altium Capital Ltd in the United States and Altium Capital Ltd is not offering any services to persons in the United States. 2 | M&A and Investment Summary September 2015 Petsky Prunier: Maximizing Shareholder Value . Top-ranked, global investment bank dedicated to digital advertising and marketing, eCommerce, digital media, technology, information, business services, and healthcare services industries . Extensive sell-side M&A and capital raise expertise, with a transaction closing rate unmatched at our level of deal volume . Founded in 1999 . More than 50 focused professionals; growth of 40% since 2011 . New York, Palo Alto, Las Vegas, Chicago, Boston, Tampa . Deep relationships across a broad spectrum of strategic buyers, as well as private equity, growth equity, and VC groups and lenders . Strategic consulting firm Winterberry Group – one of the largest industry-specific advisors providing strategic and transactional services . Global reach enhanced through our partnerships with investment bank Altium in Europe, as well as The Mountain Capital Group in China, and Allegro Advisors and o3 Capital in India . Securities transactions are processed through Petsky Prunier Securities LLC, a member of FINRA and an affiliated entity . M&A Advisory and Sell-Side Representation . Advertising & Marketing . Business Current Situation Assessment and . Privately-Owned Companies . eCommerce Profit Improvement Planning . Entrepreneur-Led Businesses . Digital Media . Opportunity Mapping: Strategic Planning & Development . Private Equity Portfolio Companies . Technology . Competitive Landscape Analysis . VC-Backed Companies . Information . M&A Transaction Due Diligence Support . Corporate Divestitures . Business Services . Buy-Side Targeting Criteria & Integration Strategy . Selected Buy-Side Engagements . Healthcare Services . Custom Market Research . Capital Raising and Private Placements . Publishing, Speaking, and Thought Leadership 3 | M&A and Investment Summary September 2015 Ranked #1 by Bloomberg for Mid-Market Internet & Advertising Transactions 2014 Internet & Advertising 2011-2014 Internet & Advertising Rank Advisor Deal Count Deal Count 1 Petsky Prunier 21 65 2 Goldman Sachs 17 50 3 Morgan Stanley 15 43 4 JP Morgan 14 31 5 Nomura Holdings 12 39 5 Ernst & Young 12 24 7 China Renaissance Partners 11 36 7 PwC 11 34 7 Deloitte 11 18 7 AGC Partners 11 30 11 GCA Savvian 10 41 Based on number of deals announced in 2011 – 2014 valued at $500 million or less. Internet and Advertising is defined by Bloomberg. With 30 total transactions closed in 2014, and more than 90 transactions closed since 2011 (across all industries in addition to Internet and Advertising), Petsky Prunier is one of the most active M&A practices within the marketing and advertising, ecommerce, and media industries and has significant momentum . 21 transactions completed in 2015 through September and multiple others under LOI . Two-thirds of transactions since 2011 were with strategic buyers; One-third with financial buyers 4 | M&A and Investment Summary September 2015 Representative Recent Transactions* has sold a leading content-driven, strategic the leading eCommerce media network digital agency in the U.S. the dominant, pure-play eCommerce the leader in strategic launch solutions a leading developer of enterprise a fast-growing, direct-to-consumer a leading provider of software-based has been sold to retailer of envelopes and related products for orphan and rare disease mobility software the most innovative digital strategy, wine eCommerce company social media brand advocacy solutions has been sold to pharmaceutical drugs user experience, and software has received a significant development firm has been sold to Aperion Management has been sold to has been sold to investment from has been sold to to a portfolio company of and (NYSE EVDY) (NYSE: ACN) $120,000,000 $74,000,000* a leading supplier of data on healthcare a portfolio company of has sold professionals and administrator of one a global leader in quantitative data a leading data-driven patient a leading provider of data-driven, of the largest practitioner-level medical the leader in data-driven a big data marketing analytics and database collection and reporting software systems identification and engagement platform has been sold to advocacy campaigns technology and solutions company full-funnel B2B marketing solutions claims databases in the U.S. that provides its members access to has been sold to to healthcare education, patient savings, has been sold to has been sold to has acquired has been sold to and other valuable programs to a division of has been sold to a portfolio company of (NYSE: OMC) (NASDAQ: EXLS) (NASDAQ: ICLR) (NYSE: RUK) *Approximate Value $65,000,000 $280,000,000* $50,000,000 a leading SaaS provider of social intelligence, a leading provider of performance-based a provider of outsourced digital campaign a leading provider of end-to-end a leading targeted direct marketing analytics, insights, and engagement a leading provider of marketing solutions the leading film and television information, digital marketing programs to healthcare management for video, mobile, customer acquisition solutions to the one of the largest digital agencies specializing company that connects new movers in multi-channel content marketing solutions has been sold to to destinations, resorts, and other data, and related software company professionals on behalf of leading display, and email insurance industry with local business for the life sciences industry travel-related businesses pharmaceutical companies has sold a majority stake to has been sold to has merged with an affiliate of has been sold to has been sold to which is being combined with has been recapitalized to support future has been sold to growth with significant debt financing from a division of both portfolio companies of and (NYSE: EVDY) (NYSE: WTM) (NASDAQ: CTSH) *Approximate Enterprise Value a disruptive, rapidly expanding marketplace for a leading SaaS-based, cross channel a technology company delivering highly insurance clicks, calls, and leads the largest independent eCommerce a leading global SaaS-based campaign management platform targeted programmatic marketing a leading provider of transaction-based retailer of promotional products for B2C marketers a consumer enthusiast media one of the largest independent media cost databases and software has sold a majority stake to tag management, data management, solutions using unstructured data and marketing attribution provider and commerce company in-store media networks in the U.S for television, radio, and digital has been sold to advertising cost analysis has been sold to has been sold to has received a $16MM Series B has been sold to has been sold to investment led by has been sold to (NYSE: WTM) *For a more comprehensive list, please click here. 5 | M&A and Investment Summary September 2015 M&A and Investment Summary for All Segments Transaction Distribution . A total of 401 deals were announced in September 2015, of which 250 were worth $20 billion in aggregate reported value . Digital Media/Commerce was the most active and highest reported value segment with 100 deals announced — 77 of these transactions reported $6.9 billion in value . The Marketing Technology segment announced 87 transactions, of which 53 were reported worth $2.3 billion . Strategic buyers announced 167 deals (42 reported $9.7 billion of value) . VC/Growth Capital investors announced 223 transactions (207 reported $9.3 billion of value) . Buyout investors announced 11 deals during the month (one reported $1 billion of value) September 2015 BUYER/INVESTOR BREAKDOWN Transactions Reported Value Strategic Buyout Venture/Growth Capital # % $MM % # $MM # $MM # $MM Digital Media/Commerce 100 25% $6,870.8 34% 22 $584.5 0 - 78 $6,286.3 Software 94 23% 2,408.9 12% 29 887.2 4 - 61 1,521.7 Marketing Technology 87 22% 2,294.3 11% 35 1,412.1 1 - 51 882.2 Digital Advertising 34 8% 796.0 4% 12 331.3 1 - 21 464.7 Business Services 30 7% 1,725.3 9% 18 575.7 4 1,000.0 8 149.6 Agency & Marketing Services 27 7% 370.5 2% 26 370.5 1 - 0 - Traditional Media 15 4% 4,456.5 22% 13 4,454.0 0 - 2 2.5 Information 14 3% 1,081.5 5% 12 1,077.0 0 - 2 4.5 Total 401 100% 20,003.8 100% 167 9,692.3 11 1,000.0 223 9,311.5 *Vista Equity Partners’ $6.7 billion acquisition of Solera Holdings has been excluded to limit comparative distortions 6 | M&A and Investment Summary September 2015 M&A and Investment Summary for All Segments Transaction Distribution . Aggregate reported transaction value of $20 billion in September was down 14 percent from August 2015 and down six percent from September 2014 . Strategic
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