16 70,000 45 160,000 40 14 60,000 140,000 35 12 120,000

50,000 TEV ($mm) TEV TEV ($mm) TEV 30 10 100,000 40,000 25 8 80,000 30,000 20 6 60,000 15

20,000 Transaction Transaction Count Transaction Transaction Count 4 40,000 10 10,000 2 5 20,000

0 0 0 0 Date TEV Target Acquirer(s) Deal Overview Announced (mm) BMC Software is a global leader in digital enterprise software solutions. The acquisition of 5/29/18 BMC continues KKR's long record of supporting B2B software companies, such as its current $8,300 portfolio of Epicor and Calabrio.

Microsoft agreed to acquire GitHub in a push to empower developers, boost enterprise use of 6/4/18 GitHub, and continue to build out its developer tools. More than 28 million developers use 7,500 GitHub as a community to build, collaborate and share ideas.

Athenahealth provides cloud-based business services and mobile applications for medical groups and health systems. Elliott has made an activist takeover offer, believing that it could 5/7/18 6,900 help provide the operational change necessary for athenahealth to fundamentally change the Healthcare IT industry.

Partners Group will take a majority stake in software development firm GlobalLogic. 5/21/18 GlobalLogic helps clients construct innovative digital products that enhance customer 2,000 engagement.

Web.com is a global provider of full range internet services and online marketing tools. SIRIS 6/21/18 Capital wants to acquire Web.com believing that it can add the strategic and operational 1,885 expertise to help grow Web.com. Web.com has a "go-shop" provision through August 5th.

Adobe's strategic acquisition of Magneto Commerce will allow Adobe to integrate Magneto 5/21/18 Commerce Cloud into the Adobe Experience Cloud, delivering a powerful, single platform 1,680 that serves B2B and B2C customers across the globe.

AT&T will enhance its ad tech capabilities with AppNexus' programmatic advertising 6/25/18 marketplace. AppNexus will allow AT&T to deliver addressable advertising and other 1,600 innovations to help marketers reach individuals.

Workday's acquisition of Adaptive Insights strategically puts Workday in a position to expand 6/11/18 product capabilities and enhance operations by utilizing the powerful financial analytics and 1,585 cloud business of Adaptive Insights.

The acquisition of Glassdoor and its job & company platform is a strategic play for Recruit 5/8/18 Holdings, allowing the company to augment its recruitment suite and expand its profile as a 1,200 major player in global recruitment services. 200 159 150 111 Financial 12% 100 68 46 40 45 46 43 42 50 4 - Strategic - 88%

Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 6/21/2018 Web.com Group, Inc. SIRIS Capital Group LLC Marketing Software 1,885 2.51x 11.92x 6/4/2018 GitHub, Inc. Microsoft Corp. Infrastructure/Hosting 7,500 - - 5/29/2018 BMC Software, Inc. & Co. LP Enterprise Software 10,000 - - 5/21/2018 GlobalLogic, Inc. Partners Group Holding AG IT Services 2,000 4.00x - 5/21/2018 Magneto Inc. Adobe Systems, Inc. Enterprise Software 1,680 11.20x - 5/7/2018 Space-Time Insight, Inc. Nokia Oyj Data & Analytics 6,596 5.22x 23.29x 4/9/2018 Social Bicycles, Inc. TPG Capital LLC; Tata Capital; GV Other SaaS 3,229 1.74x 14.00x Management Co. LLC; Uber Technologies 3/20/2018 MuleSoft, Inc. salesforce.com Marketing Software 5,791 19.53x - 3/7/2018 ABILITY Network, Inc. Inovalon Holdings, Inc. Healthcare IT 1,194 - - 3/6/2018 CommerceHub, Inc. GTCR LLC Financial Technology 970 8.73x 26.37x 2/15/2018 Zenedge, Inc. Oracle Corp. IT Security - - - Strategic Buyer Inv. Date Select Corporate Acquisitions Microsoft Corporation 6/20/2018 ▪Bonsai AI, Inc. 6/4/2018 ▪GitHub, Inc. 11/6/2017 ▪Swing Technologies, Inc. 10/3/2017 ▪AltspaceVR, Inc. 8/15/2017 ▪Cycle Computing LLC S&P Global, Inc. 6/20/2018 ▪Bankers Financial Products Corp. 3/6/2018 ▪Kensho Technologies, Inc. 2/20/2018 ▪Panjiva, Inc. Oracle Corp. 5/16/2018 ▪DataScience, Inc. 4/30/2018 ▪Vocado LLC 2/15/2018 ▪Zenedge, Inc. 4/18/2017 ▪Moat, Inc. 1/19/2017 ▪Apiary, Inc. Hexagon AB 6/2/2018 ▪AutonomouStuff LLC 3/15/2018 ▪AGTEK Development Co., Inc. 1/22/2018 ▪Plant Design Solutions, Inc. 1/11/2018 ▪Industrial Business Solutions, Inc. Alphabet Inc. 3/27/2018 ▪Tenor, Inc. 9/26/2017 ▪Bitium, Inc. 8/13/2017 ▪Senosis Health Inc. 5/10/2017 ▪Owlchemy Labs, Inc.

Financial Buyer Inv. Date Select Corporate Investments TA Associates Management LP 6/14/2018 ▪Global Software, Inc. 5/30/2018 ▪DM2 Software, Inc. 5/2/2018 ▪Meta Saas, Inc. 4/23/2018 ▪ThinkSmart LLC 4/10/2018 ▪Webyog, Inc. Accel-KKR LLC 6/14/2018 ▪Expo Logic, Inc. 5/16/2018 ▪Sageworks, Inc. 4/12/2018 ▪Salsa Labs, Inc. 4/5/2018 ▪Mainstreet Technologies, Inc. (GA) 4/4/2018 ▪Insurance Technologies Corp. 2/1/2018 ▪Medical Communication Technologies, Inc. Thoma Bravo LLC 06/13/2018 ▪MeridianLink, Inc. 06/13/2018 ▪CRIF Lending Solutions (3 Divisions) 06/11/2018 ▪Carvir LLC 05/31/2018 ▪LogRhythm, Inc. 3/23/2018 ▪MDS Lavastorm Analytics, Inc. (via Infogix) 01/22/2018 ▪AlphaTrust (via Internet Pipeline) 01/17/2018 ▪Runzheimer International 01/02/2018 ▪The Computer Partnership (via Internet Pipeline) Insight Venture Management LLC 5/24/2018 ▪Chartlyics LLC 3/13/2018 ▪Talent Rover LLC 2/16/2018 ▪Webdam Solutions, Inc. 2/12/2018 ▪Amber Road, Inc. 1/25/2018 ▪Entomo, Inc. 10/23/2017 ▪Bullhorn, Inc. 7/25/2017 ▪Lecorpio LLC 15%

10%

5%

0%

-5%

-10%

-15%

Enterprise Software Other SaaS Data Analytics IT Services IT Security Hosting Data Center Tech Conglomerates S&P 500

15%

10%

5%

0%

-5%

-10%

Financial Technology Supply Chain Software Human Capital Management Marketing Software Healthcare IT Hosting Data Center S&P 500 Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Microsoft Corp. MSFT-US $ 757,640 $ 98.61 43.1% 15.3% 96.0% 21.8% 41.0% 6.8x 17.3x 6.0x 14.1x Oracle Corp. ORCL-US 175,410 44.06 (12.1%) (6.8%) 82.4% 2.8% 46.1% 4.2x 9.9x 4.4x 9.4x SAP SE SAP-US 141,928 115.66 10.5% 2.9% 94.8% 9.1% 25.6% 4.8x 17.9x 4.6x 14.3x Adobe Systems, Inc. ADBE-US 119,385 243.81 72.4% 39.1% 94.2% 21.9% 35.3% 14.2x 39.5x 11.8x 26.5x Intuit, Inc. INTU-US 52,422 204.31 53.8% 29.5% 94.3% 11.4% 57.4% 8.8x 28.0x 8.0x 21.8x Yext, Inc. YEXT-US 1,873 19.34 45.1% 60.8% 97.7% 38.6% (32.1%) 9.5x NM 6.7x NM 35.5% 23.5% 93.2% 17.6% 28.9% 8.1x 22.5x 6.9x 17.2x 44.1% 22.4% 94.6% 16.6% 38.1% 7.8x 17.9x 6.3x 14.3x

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Visa, Inc. V-US $ 290,638 $ 132.45 41.2% 16.2% 96.9% 14.6% 68.8% 15.8x 22.7x 14.4x 20.1x Mastercard, Inc. MA-US 202,454 196.52 61.8% 29.8% 96.3% 19.4% 58.2% 15.2x 26.2x 12.9x 21.7x American Express Co. AXP-US 84,315 98.00 16.3% (1.3%) 94.9% 12.3% 34.7% 2.8x 8.2x 2.7x NM Fidelity National Information Services, Inc. FIS-US 35,097 106.03 24.2% 12.7% 98.2% (3.8%) 34.0% 4.9x 14.1x 5.0x 13.5x Fiserv, Inc. FISV-US 30,335 74.09 21.1% 13.0% 96.2% 4.2% 35.4% 6.0x 17.3x 5.9x 15.9x MSCI, Inc. MSCI-US 14,727 165.43 60.6% 30.7% 95.0% 13.3% 53.1% 12.0x 23.0x 11.0x 19.9x Jack Henry & Associates, Inc. JKHY-US 10,076 130.36 25.5% 11.5% 97.7% 8.1% 35.2% 6.7x 19.3x 6.3x 18.1x The Western Union Co. WU-US 9,367 20.33 6.7% 6.9% 91.5% 3.9% 23.7% 2.1x 8.7x 2.0x 8.2x Black Knight, Inc. BKI-US 8,001 53.55 30.8% 21.3% 98.0% 9.4% 44.7% 8.9x 19.4x 8.1x 16.7x Envestnet, Inc. ENV-US 2,485 54.95 38.8% 10.2% 91.2% 20.5% 9.5% 4.0x 33.5x 3.4x 17.6x Q2 Holdings, Inc. QTWO-US 2,423 57.05 54.4% 54.8% 89.8% 29.8% (2.0%) 11.3x NM 8.6x 78.3x Bottomline Technologies, Inc. EPAY-US 2,034 49.83 94.0% 43.7% 97.5% 11.4% 12.8% 5.5x 43.4x 4.6x 19.2x 39.6% 20.8% 95.3% 11.9% 34.0% 7.9x 21.4x 7.1x 22.7x 34.8% 14.6% 96.3% 11.8% 34.9% 6.4x 19.4x 6.1x 18.1x

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Manhattan Associates, Inc. MANH-US $ 3,141 $ 47.01 (2.2%) (5.1%) 86.7% (6.0%) 23.0% 5.2x 16.5x 5.6x 22.7x SPS Commerce, Inc. SPSC-US 1,276 73.48 15.2% 51.2% 93.5% 11.9% 31.0% 4.9x 34.4x 4.3x 22.8x American Software, Inc. AMSWA-US 411 14.57 41.6% 25.3% 88.6% 11.4% 14.3% 3.3x 18.9x 2.9x 15.3x 18.2% 23.8% 89.6% 5.8% 22.7% 15.2% 25.3% 88.6% 11.4% 23.0%

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Paychex, Inc. PAYX-US $ 24,538 $ 68.35 20.0% 0.4% 93.5% 7.0% 40.6% 7.1x 16.9x 6.7x 16.2x Workday, Inc. WDAY-US 17,707 121.12 24.9% 19.0% 86.5% 29.1% (5.2%) 10.6x NM 8.1x NM The Ultimate Software Group, Inc. ULTI-US 7,877 257.31 22.5% 17.9% 91.1% 22.9% 11.4% 7.8x NM 6.5x 25.5x Paycom Software, Inc. PAYC-US 5,837 98.83 44.5% 23.0% 83.4% 30.3% 37.1% 12.4x NM 9.5x 23.3x Paylocity Holding Corp. PCTY-US 3,099 58.86 30.3% 24.8% 91.7% 27.3% 24.4% 8.3x NM 6.8x 30.2x Cornerstone OnDemand, Inc. CSOD-US 2,736 47.43 32.7% 34.2% 88.2% 6.0% 5.0% 5.3x NM 5.0x 25.6x Benefitfocus, Inc. BNFT-US 1,067 33.60 (7.6%) 24.4% 90.9% 3.4% (10.8%) 4.5x NM 4.1x NM 23.9% 20.6% 89.3% 18.0% 14.6% 24.9% 23.0% 90.9% 22.9% 11.4% Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA ServiceNow, Inc. NOW-US $ 30,471 $ 172.47 62.7% 32.3% 91.5% 41.5% 2.2% 14.1x NM 10.8x 40.5x Snap, Inc. SNAP-US 12,508 13.09 (26.3%) (10.4%) 61.7% 57.6% (160.8%) 16.1x NM 10.4x NM LogMeIn, Inc. LOGM-US 5,391 103.25 (1.2%) (9.8%) 76.6% 16.9% 30.4% 4.6x 15.9x 4.1x 10.9x Guidewire Software, Inc. GWRE-US 7,126 88.78 29.2% 19.6% 92.3% 29.5% (13.8%) 10.8x NM 8.2x NM Atlassian Corp. Plc TEAM-US 6,418 62.52 77.7% 37.3% 90.9% 33.4% 4.1% 17.3x NM 12.4x NM Zendesk, Inc. ZEN-US 5,697 54.49 96.1% 61.0% 90.4% 39.6% (18.0%) 11.6x NM 8.2x NM RealPage, Inc. RP-US 5,073 55.10 53.3% 24.4% 88.9% 26.9% 20.6% 7.7x 47.7x 5.6x 20.6x RingCentral, Inc. RNG-US 4,700 70.35 92.5% 45.4% 86.6% 32.7% 2.8% 9.9x NM 7.4x NM Ebix, Inc. EBIX-US 2,399 76.25 41.5% (3.8%) 87.1% 22.1% 34.4% 6.9x 16.4x 5.7x 15.4x Alarm.com Holdings, Inc. ALRM-US 1,910 40.38 7.3% 7.0% 81.6% 13.3% 19.2% 5.3x 30.2x 4.8x 21.9x Five9, Inc. FIVN-US 1,994 34.57 60.6% 38.9% 87.4% 21.2% 3.7% 9.2x NM 7.4x NM MINDBODY, Inc. MB-US 1,690 38.60 41.9% 26.8% 84.8% 44.3% (2.8%) 8.4x NM 5.8x NM Instructure, Inc. INST-US 1,461 42.55 44.2% 28.5% 90.6% 35.8% (19.5%) 7.7x NM 5.3x NM Workiva, Inc. WK-US 794 24.40 28.1% 14.0% 88.4% 16.7% (14.4%) 4.5x NM 3.9x NM AppFolio, Inc. APPF-US 931 61.15 87.6% 47.3% 89.3% 31.6% 18.1% 13.3x 78.5x 10.4x NM Model N, Inc. MODN-US 568 18.60 39.8% 18.1% 94.9% 5.6% (0.6%) 3.8x NM 3.6x NM Appian Corp. APPN-US 684 36.16 99.2% 14.9% 82.9% 16.7% (19.3%) 11.3x NM 9.6x NM 49.1% 23.0% 86.2% 28.6% (6.7%) 44.2% 24.4% 88.4% 29.5% 2.2%

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA salesforce.com, inc. CRM-US $ 101,271 $ 136.40 57.5% 33.4% 96.0% 27.8% 13.2% 8.8x NM 7.0x 30.4x HubSpot, Inc. HUBS-US 4,816 125.40 90.7% 41.9% 87.7% 34.9% (5.4%) 11.2x NM 8.2x NM Criteo SA CRTO-US 2,168 32.85 (33.0%) 26.2% 61.1% (54.2%) 10.4% 0.7x 6.6x 1.6x 5.3x ChannelAdvisor Corp. ECOM-US 381 14.05 21.6% 56.1% 89.9% 7.7% (5.3%) 2.6x NM 2.4x 34.3x 34.2% 39.4% 83.7% 4.0% 3.2% 39.6% 37.6% 88.8% 17.8% 2.5%

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Cerner Corp. CERN-US $ 19,839 $ 59.79 (10.0%) (11.3%) 81.0% 8.1% 26.9% 3.7x 12.8x 3.5x 11.4x Veeva Systems, Inc. VEEV-US 9,270 76.86 25.4% 39.0% 90.4% 23.1% 24.2% 14.0x NM 12.4x 37.5x athenahealth, Inc. ATHN-US 6,431 159.14 13.2% 19.6% 97.1% 12.1% 25.9% 5.2x 23.2x 4.7x 16.8x Medidata Solutions, Inc. MDSO-US 4,771 80.56 3.0% 27.1% 93.8% 23.2% 14.1% 8.1x NM 6.7x 26.5x Allscripts Healthcare Solutions, Inc. MDRX-US 2,135 12.00 (6.0%) (17.5%) 74.4% 17.2% 12.0% 2.2x 16.2x 1.9x 9.4x HMS Holdings Corp. HMSY-US 1,799 21.62 16.9% 27.6% 91.5% 7.9% 19.4% 3.6x 15.8x 3.4x 14.3x Quality Systems, Inc. QSII-US 1,252 19.50 13.3% 43.6% 94.7% 3.1% (3.1%) 2.4x 18.8x 2.3x 14.7x Inovalon Holdings, Inc. INOV-US 711 9.93 (24.5%) (33.8%) 55.8% 38.8% (4.8%) 3.0x 18.9x 2.0x 6.5x 3.9% 11.8% 84.8% 16.7% 14.3% 8.1% 23.4% 91.0% 14.7% 16.7% Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Splunk, Inc. SPLK-US $ 14,371 $ 99.11 74.2% 19.6% 81.5% 33.7% (34.3%) 10.0x NM 7.3x 47.5x Tableau Software, Inc. DATA-US 6,638 97.75 59.5% 41.3% 92.4% 13.4% (16.5%) 7.7x NM 6.7x NM Corp. TDC-US 4,855 40.15 36.1% 4.4% 90.7% 1.5% 6.5% 2.0x 20.3x 2.0x 11.4x Pegasystems, Inc. PEGA-US 4,306 54.80 (6.1%) 16.2% 80.6% 22.9% 6.0% 4.8x NM 4.3x 28.0x Cloudera, Inc. CLDR-US 2,021 13.64 (14.9%) (17.4%) 60.8% 21.8% (46.8%) 4.1x NM 3.3x NM Verint Systems, Inc. VRNT-US 2,839 44.35 9.0% 6.0% 95.5% 8.4% 10.9% 2.8x 20.8x 2.5x 10.4x , Inc. HDP-US 1,440 18.22 41.5% (9.4%) 82.8% 29.2% (48.7%) 4.7x NM 3.5x NM MicroStrategy, Inc. MSTR-US 1,202 127.75 (33.3%) (2.7%) 65.1% 2.0% 3.3% 1.5x 11.0x 1.5x 17.1x PROS Holdings, Inc. PRO-US 1,192 36.57 33.5% 38.3% 95.3% 16.8% (23.6%) 7.1x NM 6.1x NM Alteryx, Inc. AYX-US 1,093 38.16 95.5% 51.0% 92.0% 47.4% (9.9%) 14.6x NM 9.8x NM Veritone, Inc. VERI-US 302 16.82 43.6% (27.5%) 22.5% 81.0% (293.4%) 15.8x NM 7.6x NM 30.8% 10.9% 78.1% 25.3% (40.6%) 36.1% 6.0% 82.8% 21.8% (16.5%)

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Plc ACN $ 104,820 $ 163.59 32.3% 6.9% 98.8% 2.5% 17.3% 2.5x 15.1x 2.5x 14.3x Cognizant Technology Solutions Corp. CTSH-US 46,280 78.99 19.0% 11.2% 92.8% 11.7% 19.8% 2.8x 14.1x 2.5x 10.5x Leidos Holdings, Inc. LDOS-US 8,955 59.00 14.1% (8.6%) 84.2% 5.8% 9.9% 1.2x 11.6x 1.1x 11.0x EPAM Systems, Inc. EPAM-US 6,639 124.33 47.9% 15.7% 94.4% 31.3% 13.8% 4.0x 27.6x 3.2x 17.6x Booz Allen Hamilton Holding Corp. BAH-US 6,271 43.73 34.4% 14.7% 95.4% 8.7% 9.3% 1.3x 13.3x 1.2x 12.5x InterXion Holding NV INXN-US 4,459 62.42 36.3% 5.9% 92.9% 17.5% 42.1% 9.2x 22.0x 7.8x 17.0x CACI International, Inc. CACI-US 4,163 168.55 34.8% 27.4% 96.4% 5.0% 10.9% 1.2x 12.6x 1.1x 12.4x ManTech International Corp. MANT-US 1,414 53.64 29.6% 6.9% 86.2% 12.2% 8.4% 1.2x 15.5x 1.1x 13.1x Presidio, Inc. PSDO-US 1,214 13.10 (8.5%) (31.7%) 66.4% 5.3% 6.7% 0.7x 9.5x 0.7x 9.1x Virtusa Corp. VRTU-US 1,445 48.68 65.6% 10.4% 89.8% 27.3% 8.0% 1.6x 28.2x 1.3x 13.2x Unisys Corp. UIS-US 657 12.90 0.8% 58.3% 92.8% (1.5%) 19.9% 0.2x 1.8x 0.4x 2.4x The Hackett Group, Inc. HCKT-US 473 16.07 3.7% 2.3% 83.5% 5.3% 13.1% 1.6x 12.5x 1.7x 9.6x ServiceSource International, Inc. SREV-US 358 3.94 1.5% 27.5% 88.1% 5.8% (2.7%) 1.3x 34.9x 1.2x 12.9x 24.0% 11.3% 89.4% 10.5% 13.6% 29.6% 10.4% 92.8% 5.8% 10.9%

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA , Inc. CSCO-US $ 202,365 $ 43.03 37.5% 12.3% 92.8% 4.1% 30.4% 3.6x 11.9x 3.6x 10.3x Palo Alto Networks, Inc. PANW-US 19,084 205.47 53.6% 41.8% 94.5% 25.7% (0.6%) 8.5x NM 6.7x 25.6x VeriSign, Inc. VRSN-US 16,914 137.42 47.8% 20.1% 94.4% 5.1% 66.0% 14.4x 22.1x 13.7x 19.3x Check Point Software Technologies Ltd. CHKP-US 15,535 97.68 (10.5%) (5.7%) 81.9% 3.3% 48.3% 7.5x 14.9x 7.4x 13.8x Symantec Corp. SYMC-US 12,835 20.65 (26.9%) (26.4%) 60.4% 0.9% 27.9% 3.2x 13.1x 3.4x 8.5x Fortinet, Inc. FTNT-US 10,494 62.43 66.7% 42.9% 94.1% 18.2% 16.6% 5.9x NM 5.1x 20.9x Proofpoint, Inc. PFPT-US 5,864 115.31 32.8% 29.8% 88.5% 42.5% (5.1%) 10.5x NM 7.4x NM Qualys, Inc. QLYS-US 3,286 84.30 106.6% 42.0% 86.2% 24.7% 23.8% 12.2x NM 10.6x 28.6x FireEye, Inc. FEYE-US 2,954 15.39 1.2% 8.4% 79.5% 11.9% (19.3%) 3.7x NM 3.2x 27.5x Mimecast Ltd. (Jersey) MIME-US 2,430 41.21 53.9% 43.7% 87.9% 33.6% 6.4% 9.0x NM 6.6x NM CyberArk Software Ltd. CYBR-US 2,270 62.96 26.0% 52.1% 93.1% 26.2% 8.7% 7.1x NM 5.7x 25.6x Varonis Systems, Inc. VRNS-US 2,142 74.50 100.3% 53.5% 89.7% 25.9% (27.5%) 8.6x NM 6.7x NM Imperva, Inc. IMPV-US 1,674 48.25 0.8% 21.5% 89.4% 19.2% (6.8%) 3.9x NM 3.2x 16.6x Rapid7, Inc. RPD-US 1,305 28.22 67.7% 51.2% 83.2% 22.1% (26.0%) 5.6x NM 4.5x NM Cheetah Mobile, Inc. CMCM-US 418 9.56 (11.3%) (20.9%) 52.6% 4.7% 12.9% 0.0x 0.2x 1.3x 13.3x 36.4% 24.4% 84.6% 17.9% 10.4% 37.5% 29.8% 88.5% 19.2% 8.7% Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Equinix, Inc. EQIX-US $ 34,158 $ 429.89 0.2% (5.1%) 86.8% 15.5% 43.6% 9.3x 21.7x 8.1x 16.8x Digital Realty Trust, Inc. DLR-US 22,980 111.58 (1.2%) (2.0%) 87.7% 21.3% 58.5% 12.9x 23.7x 10.6x 18.0x Akamai Technologies, Inc. AKAM-US 12,495 73.23 47.0% 12.6% 88.1% 10.0% 30.6% 4.8x 15.9x 4.4x 11.2x GoDaddy, Inc. GDDY-US 10,504 70.60 66.4% 40.4% 93.9% 17.3% 13.5% 5.1x 38.1x 5.1x 18.0x CoreSite Realty Corp. COR-US 3,818 110.82 7.0% (2.7%) 91.7% 15.1% 54.0% 10.0x 18.9x 8.6x 15.7x QTS Realty Trust, Inc. QTS-US 2,015 39.50 (24.5%) (27.1%) 64.2% (3.0%) 45.0% 7.6x 17.2x 7.7x 14.5x Extreme Networks, Inc. EXTR-US 923 7.96 (13.7%) (36.4%) 51.2% 27.5% 7.7% 1.1x 13.7x 0.9x 5.5x Switch, Inc. (Nevada) SWCH-US 439 12.17 NM (33.1%) 48.9% 21.0% 34.8% 3.8x 14.8x 8.7x 17.2x 11.6% (6.7%) 76.6% 15.6% 36.0% 0.2% (3.9%) 87.2% 16.4% 39.2%

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap LTM YTD % of 52 EBITDA TEV/ TEV/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA Growth Revenue EBITDA Apple, Inc. AAPL-US $ 909,841 $ 185.11 28.5% 9.4% 95.3% 8.7% 30.6% 3.8x 12.4x 3.6x 11.6x .com, Inc. AMZN-US 824,789 1,699.80 75.6% 45.3% 96.4% 36.3% 10.9% 4.4x NM 3.3x 25.2x Alphabet, Inc. GOOGL-US 726,548 1,129.19 21.5% 7.2% 94.0% 0.4% 29.4% 5.8x 18.4x 5.9x 12.7x Facebook, Inc. FB-US 466,097 194.32 28.7% 10.1% 95.5% 44.1% 53.5% 11.6x 20.3x 8.2x 13.5x International Business Machines Corp. IBM-US 128,240 139.70 (9.2%) (8.9%) 81.6% 1.0% 14.0% 2.0x 10.1x 2.0x 8.4x 29.0% 12.6% 92.6% 18.1% 27.7% 28.5% 9.4% 95.3% 8.7% 29.4%

         Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 6/29/2018 Union Metrics Software, Inc. TrendKite, Inc. Data & Analytics - - - 6/29/2018 Learning Tree International, Inc. The Kevin Ross Gruneich Legacy Trust IT Services 12.24 - - 6/29/2018 SiteHelix, Inc. Overstock.com, Inc. Other SaaS 3.49 - - 6/29/2018 Reignger, Inc. Fusemachines, Inc. Other SaaS - - - 6/29/2018 Welltodo, LLC SensorRX, Inc. Other SaaS - - - 6/28/2018 CTC Life Sciences, Inc. Liberty Biopharma, Inc. Healthcare IT 8.39 - - 6/28/2018 HumanCode, Inc. Warburg Pincus LLC; Sutter Hill Ventures LLC; Helix OpCo Healthcare IT - - - LLC; Illumina Accelerator 6/28/2018 Kisensum, Inc. Voyager Capital LLC; next47 Services GmbH; Estag Capital Other SaaS - - - AG; ChargePoint, Inc.; BMW i Ventures LLC; Constellation Technology Ventures 6/28/2018 HackEd SecureSet Academy, Inc. IT Security - - - 6/28/2018 Meridian Technologies, Inc. (Florida) Team Jbsd LLC; White Wolf Capital LLC IT Services - - - 6/28/2018 EVENTup, Inc. Gather Technologies, Inc.; Vista Equity Partners Management Infrastructure/Hosting - - - LLC 6/27/2018 Zemax LLC EQT Partners AB Other SaaS - - - 6/27/2018 Threat Surface Solutions Group LLC Visium Technologies, Inc. IT Security - - - 6/27/2018 Neurotic Media LLC Peloton Interactive, Inc.; Catterton Management Co. LLC Other SaaS - - - 6/27/2018 Digital Measures LLC Quad Partners LLC; TCMI, Inc.; Exceed Capital Partners; Other SaaS - - - Watermark Insights LLC 6/27/2018 Rainmaker Digital LLC (StudioPress Division) Silver Lake Management Co. LLC; WPEngine, Inc. Infrastructure/Hosting - - - 6/27/2018 Fixya, Inc. VerticalScope, Inc. Infrastructure/Hosting - - - 6/26/2018 Zemax LLC EQT Partners AB Healthcare IT - - - 6/26/2018 Slice Capital, Inc. StraightUp Technologies, Inc. Infrastructure/Hosting - - - 6/26/2018 Building Robotics, Inc. Siemens Building Technologies AG Other SaaS - - - 6/26/2018 Market Strategies, Inc. Symphony Technology Group LLC Data & Analytics - - - 6/26/2018 TekLinks, Inc. Cellular South, Inc. IT Services - - - 6/26/2018 Chute Corp. Ignite Technologies, Inc.; ESW Capital LLC Marketing Software - - - 6/26/2018 Network Professionals Group LLC Global Technology Resources, Inc. IT Services - - - 6/26/2018 OnFarm Systems, Inc. Swiim System Ltd. Data & Analytics - - - 6/25/2018 AppNexus, Inc. AT&T, Inc. Marketing Software 1,600.00 - - 6/25/2018 Velocity Mail LLC The Descartes Systems Group, Inc. Other SaaS 25.50 - - 6/25/2018 Navigant Consulting, Inc. (DFLT & TAS Madison Dearborn Partners LLC; Ankura Consulting Group IT Services 470.00 - - businesses) LLC 6/25/2018 Edgewater Networks, Inc. Ribbon Communications, Inc. Infrastructure/Hosting 114.32 1.79x - 6/25/2018 Gazillion, Inc. Trion Worlds, Inc. Infrastructure/Hosting - - - 6/25/2018 TransparINT LLC Bregal Sagemount; Steele Compliance Solutions, Inc. Other SaaS - - - 6/25/2018 AJT Systems, Inc. Daktronics, Inc. IT Services - - - 6/25/2018 CatchOn, Inc. ZelnickMedia Corp.; Education Networks of America, Inc. Enterprise Software - - - 6/25/2018 Zebu Compliance Solutions, Inc. Great Point Partners Private Equity; United Claim Solutions Healthcare IT - - - LLC 6/25/2018 iManaged Solutions LLC Bluff Point Associates Corp.; Netgain Technology, Inc. Healthcare IT - - - 6/25/2018 Qwizdom, Inc. Boxlight Corp. Other SaaS 1.89 - - 6/25/2018 Corp. (Lustre Bus) DataDirect Networks, Inc. Other SaaS - - - 6/22/2018 eXtreme LLC Dynamic Communities, Inc. IT Services - - - 6/22/2018 Electronic Maintenance Co., Inc. (EMCO BearCom Group, Inc. IT Services - - - Communications) 6/22/2018 Interactive Accessibility, Inc. The Paciello Group LLC IT Services - - - 6/22/2018 CloudMed LLC Revint Solutions Healthcare IT - - - 6/21/2018 Web.com Group, Inc. SIRIS Capital Group LLC Marketing Software 1,884.86 2.51x 11.92x 6/21/2018 Simility, Inc. PayPal Holdings, Inc. IT Security 123.71 - - 6/21/2018 Smyte, Inc. Twitter, Inc. IT Security - - - 6/21/2018 Ablexis LLC Deerfield Management Company LP; Deerfield Management Healthcare IT - - - Co. LP (Private Equity) 6/21/2018 Shape Analytics TPG Growth LLC; Reflektive, Inc. Data & Analytics - - - 6/21/2018 Critiqueit, Inc. 2U, Inc. Other SaaS - - - 6/21/2018 Specdrums, Inc. TechStars Central, LLC; Sphero, Inc.; Brainchild Holdings Other SaaS - - - LLC 6/21/2018 Atavist, Inc. Automattic, Inc.; Tiger Global Management LLC (Private Infrastructure/Hosting - - - Equity); ICONIQ Capital (Private Equity) 6/20/2018 July Systems, Inc. Cisco Systems, Inc. Other SaaS - - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 6/20/2018 Aedan, Inc. Aedan Financial Corp. Infrastructure/Hosting - - - 6/20/2018 Bankers Financial Products Corp. S&P Global, Inc. Financial Technology 33.50 4.35x - 6/20/2018 Bonsai AI, Inc. Microsoft Corp. Other SaaS - - - 6/20/2018 Pathgather, Inc. Degreed, Inc.; Jump Capital LLC; Owl Ventures LLC Enterprise Software - - - 6/20/2018 QASymphony, Inc. TRICENTIS Technology & Consulting GmbH IT Services - - - 6/19/2018 Winpoint Health LLC iGambit, Inc. Healthcare IT - - - 6/19/2018 Drilling Info, Inc. Genstar Capital LLC Data & Analytics - - - 6/19/2018 Oppobox LLC Micfo LLC Infrastructure/Hosting - - - 6/18/2018 Malauzai Software, Inc. Finastra Europe Ltd. Financial Technology - - - 6/18/2018 BetterDoctor, Inc. Vestar Capital Partners, Inc.; Quest Analytics LLC Healthcare IT - - - 6/18/2018 Transaction Pro LLC Right Networks, LLC Other SaaS - - - 6/18/2018 Project Cloudkey, Inc. Intelity Solutions, Inc. Other SaaS - - - 6/15/2018 MyStemKits, LLC Robo 3D Ltd. Other SaaS 2.00 1.00x 2.50x 6/15/2018 Applications2U, LLC Accscient LLC IT Services - - - 6/14/2018 Global Software, Inc. TA Associates Management LP Enterprise Software - - - 6/14/2018 Pronto Rush, Inc. Traderbox - Sistemas de Softwares Ltda. Other SaaS - - - 6/14/2018 Centric Software, Inc. Dassault Systèmes SA Other SaaS - - - 6/14/2018 MindSpark, Inc. auticon GmbH Other SaaS - - - 6/14/2018 Center For Fiduciary Management LLC fi360, Inc. Data & Analytics - - - 6/14/2018 Expo Logic, Inc. Accel-KKR LLC; Community Brands IT Services - - - 6/14/2018 Arkive Information Management LLC Access CIG LLC IT Services - - - 6/13/2018 ClearScholar, Inc. Civitas Learning, Inc. Enterprise Software - - - 6/13/2018 Lirik, Inc. Tecnos Global Co. of America, Inc. Other SaaS 3.50 0.66x - 6/13/2018 MeridianLink, Inc. Thoma Bravo LLC Financial Technology - - - 6/13/2018 CRIF Lending Solutions (3 Divisions) Thoma Bravo LLC Financial Technology - - - 6/13/2018 Empirical Systems, Inc. Tableau Software, Inc. Data & Analytics - - - 6/13/2018 DaLand Solutions LLC Nutmeg State Financial Credit Union Data & Analytics - - - 6/13/2018 BitWall Co. Watch Out BV Financial Technology - - - 6/13/2018 Shotcaller Global, Inc. Morgan Stanley Venture Partners; Vigilant Solutions, Inc. Infrastructure/Hosting - - - 6/12/2018 Shyft Analytics, Inc. Medidata Solutions, Inc. Data & Analytics 195.00 - - 6/12/2018 BriteVerify LLC Validity, Inc. Other SaaS - - - 6/12/2018 FacilitySource LLC CBRE Group, Inc. IT Services 290.00 - - 6/12/2018 NEXTEP SYSTEMS, Inc. SICOM Systems, Inc. IT Services - - - 6/12/2018 Shareable, Inc. Strategic Management Consultants LLC Healthcare IT - - - 6/11/2018 Adaptive Insights, Inc. Workday, Inc. Enterprise Software 1,585.19 - - 6/11/2018 VictorOps, Inc. Splunk, Inc. Other SaaS 120.00 - - 6/11/2018 Penguin Computing, Inc. SMART Global Holdings, Inc. Infrastructure/Hosting 85.00 0.51x - 6/11/2018 Aasonn LLC Rizing LLC; OEP Capital Advisors LP Enterprise Software - - - 6/11/2018 POSaBIT, Inc. Foreshore Exploration Partners Corp. Financial Technology 15.91 - - 6/11/2018 Integrated Network Cable, Inc. Genstar Capital LLC; Infinite RF Holdings, Inc. IT Services - - - 6/11/2018 JCI Marketing LLC Continuant, Inc. Marketing Software - - - 6/11/2018 Carvir LLC Thoma Bravo LLC; Continuum Managed Services LLC IT Security - - - 6/8/2018 Olive Software, Inc. Versata Software, Inc.; ESW Capital LLC Other SaaS - - - 6/8/2018 Moki Mobility, Inc. Dura Holdings, Inc. Enterprise Software - - - 6/8/2018 Savvius, Inc. LiveAction, Inc. IT Services - - - 6/8/2018 Objectiva Software Solutions, Inc. Allgeier SE IT Services - - - 6/8/2018 Optimum Communications Corp. Loffler Cos., Inc. IT Services - - - 6/7/2018 Leidos Cyber, Inc. Capgemini SE IT Security - - - 6/7/2018 Campustap, Inc. Headhunter Technologies Ltd. Other SaaS - - - 6/7/2018 CoverWallet, Inc. Zurich Insurance Group AG Financial Technology - - - 6/7/2018 Curbside, Inc. Rakuten, Inc. Enterprise Software - - - 6/7/2018 Reflect Technologies, Inc. Puppet, Inc. Data & Analytics - - - 6/7/2018 iMobile3 LLC Total System Services, Inc. Enterprise Software - - - 6/7/2018 Analytic Strategies LLC Culmen International LLC IT Services - - - 6/6/2018 Maintenance Connection, Inc. Accruent LLC Enterprise Software - - - 6/6/2018 Soren Innovations LLC JourneyTeam-AB Computer LLC IT Services - - - 6/6/2018 Scribe Software Corp. TIBCO Software, Inc. Infrastructure/Hosting - - - 6/6/2018 SEEN Digital Media, Inc. Grotech Ventures; ICX Media, Inc. Marketing Software - - - 6/6/2018 Galaxy Next Generation, Inc. FullCircle Registry, Inc. IT Services 0.60 - - 6/5/2018 VLinks Media LLC Showpad NV Enterprise Software 50.00 - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 5/21/2018 PowerPlan, Inc. Roper Technologies, Inc. Other SaaS 1,100.00 - - 5/21/2018 Information Systems Management, Inc. SWK Technologies, Inc. Enterprise Software 1.70 - - 5/21/2018 Magneto Inc. Adobe Systems, Inc. Enterprise Software 1,680.00 11.20x - 5/21/2018 Polaris Alpha LLC Parsons Corp. IT Security - - - 5/21/2018 Virgin Pulse, Inc. Marlin Management Co. LLC Other SaaS - - - 5/21/2018 Boondock Standard LLC SalesLoft, Inc.; Emergence Equity Management, Inc.; Marketing Software - - - TechStars Central, LLC 5/21/2018 Haystax Technology, Inc. Fishtech Group LLC IT Security - - - 5/21/2018 BlueChipTek, Inc. Converge Technology Partners, Inc. IT Services - - - 5/21/2018 SoftwareWerks LLC Liberty Technology Advisors, Inc. IT Services - - - 5/20/2018 FrontStream Holdings LLC Marlin Management Co. LLC Other SaaS - - - 5/17/2018 J2 Innovations, Inc. Siemens AG Other SaaS - - - 5/17/2018 Mavrx, Inc. Finistere Ventures LLC; A.A.A Taranis Visual Ltd. Other SaaS - - - 5/17/2018 Global Equipment Services & Manufacturing, Kimball Electronics, Inc. IT Services 54.00 - - Inc. 5/17/2018 Datasync Corp. (SugarCRM) Faye Business Systems Group, Inc. Enterprise Software - - - 5/17/2018 Sow Organic, Inc. Where Food Comes From, Inc. Other SaaS 0.90 - - 5/17/2018 iovation, Inc. TransUnion IT Security - - - 5/17/2018 RelationEdge LLC Rackspace Hosting, Inc.; Apollo Global Management LLC IT Services - - - (Private Equity) 5/16/2018 Waitr, Inc. Landcadia Holdings, Inc. Other SaaS 308.00 - - 5/16/2018 Orasi Software, Inc. (Testing Service Division) Marlin Management Co. LLC IT Services - - - 5/16/2018 DataScience, Inc. Oracle Corp. Data & Analytics - - - 5/16/2018 Assurance Software, Inc. Resurgens Technology Partners LLC Other SaaS - - - 5/16/2018 Sageworks, Inc. Accel-KKR LLC Financial Technology - - - 5/16/2018 Aptaris LLC dunnhumby Ltd. Marketing Software - - - 5/16/2018 ScriptPRO Software LLC Shoflo LLC Healthcare IT - - - 5/15/2018 Baker Technologies, Inc. Sea Hunter Therapeutics LLC Enterprise Software - - - 5/15/2018 Athenium, Inc. Weather Analytics LLC; In-Q-Tel Enterprise Software - - - 5/15/2018 Plexxi, Inc. Hewlett-Packard Enterprise Co. Infrastructure/Hosting - - - 5/15/2018 Sigmod, Inc. 8x8, Inc. Other SaaS 3.50 - - 5/15/2018 GigXL, Inc. SherpaShare, Inc. Data & Analytics - - - 5/15/2018 Peach State Integrated Technologies, Inc. Bastian Solutions LLC Supply Chain Software - - - 5/15/2018 Simex, Inc. (NV) American Retail Group, Inc. Financial Technology 11.43 - - 5/15/2018 orderTalk, Inc. UberEATS, Inc. Other SaaS - - - 5/15/2018 Grey Matter Platform, Inc. Software Folks, Inc. Data & Analytics - - - 5/14/2018 Xynergy, Inc. Consumer51 LLC Marketing Software - - - 5/14/2018 Factor Systems, Inc. W Capital Management LLC Financial Technology - - - 5/14/2018 Clinical Ink, Inc. Research Triangle Institute; NovaQuest Capital Management Healthcare IT - - - LLC; Shareholders 5/14/2018 Embolitech LLC SurModics, Inc. Healthcare IT 5.00 - - 5/14/2018 LinkEHR LLC Tailwind Management LP; Cumberland Consulting Group IT Services - - - 5/14/2018 Netgain Technologies of Alabama LLC AmericanLLC Computer Consultants, Inc. IT Services - - - 5/11/2018 Confyrm, Inc. Capital One Financial Corp. IT Security - - - 5/10/2018 WordStream, Inc. Gannett Co., Inc. Marketing Software 150.00 4.60x - 5/10/2018 Videology, Inc. Amobee, Inc. Marketing Software 45.00 - - 5/9/2018 Velostrata, Inc. LLC Infrastructure/Hosting - - - 5/9/2018 Winshuttle LLC Symphony Technology Group LLC Enterprise Software - - - 5/9/2018 Fusion PPT LLC Quality Technology, Inc. IT Services - - - 5/9/2018 IntelliVision Technologies Corp. Nortek Security & Control LLC; Nortek, Inc. Other SaaS - - - 5/8/2018 1stPoint Communications LLC Hammer Fiber Optics Holdings Corp. IT Services - - - 5/8/2018 Glassdoor, Inc. Recruit Holdings Co., Ltd. Other SaaS 1,200.00 7.03x - 5/8/2018 The SAVO Group Ltd. General Atlantic LLC; JMI Management, Inc.; Jackson Marketing Software - - - Square Ventures; Seismic Software, Inc. 5/8/2018 Lowestmed, Inc. RetailMeNot, Inc.; Harland Clarke Holdings Corp. Healthcare IT - - - 5/8/2018 Cimtronics Midwest, Inc. Hawk Ridge Systems LLC IT Services - - - 5/8/2018 Paytronage, Inc. Lumni, Inc. Financial Technology - - - 5/7/2018 SV Crypto Lab 360 Blockchain, Inc. Financial Technology 0.19 - - 5/7/2018 Space-Time Insight, Inc. Nokia Oyj Data & Analytics - - - 5/7/2018 athenahealth, Inc. Elliott Management Corp. Healthcare IT 6,595.65 5.22x 23.29x 5/7/2018 TransPerfect Translations International, Inc. Transperfect Translations International, Inc. (Shawe) IT Services - - - 5/7/2018 Base Capital LLC Lumni, Inc. Financial Technology - - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 5/7/2018 TargetRecruit LLC Mountview Partners Enterprise Software - - - 5/4/2018 C5mi Insight LLC YASH Technologies, Inc. IT Services - - - 5/4/2018 Zensight, Inc. Seismic Software, Inc. Marketing Software - - - 5/4/2018 Medicity, Inc. Health Catalyst, Inc. Healthcare IT - - - 5/4/2018 All Set Works, Inc. Handy Technologies, Inc. Other SaaS - - - 5/4/2018 AVSIGroup LLC Conference Technologies, Inc. IT Services - - - 5/3/2018 Renaissance Learning, Inc. Francisco Partners Management LLC Other SaaS - - - 5/3/2018 Unitrends, Inc. Kaseya Ltd. Infrastructure/Hosting - - - 5/3/2018 Armanta Corp. International Business Machines Corp. Enterprise Software - - - 5/3/2018 Parlo, Inc. () ServiceNow, Inc. Enterprise Software - - - 5/3/2018 Vendor Team Services LLC VTSARC LLC Data & Analytics - - - 5/2/2018 OANDA Corp. CVC Capital Partners Ltd. Financial Technology - - - 5/2/2018 Justice Systems, Inc. Arlington Capital Partners LLC; Ontario Systems LLC Other SaaS - - - 5/2/2018 Rippe & Kingston LLC ParkerGale LP Enterprise Software - - - 5/2/2018 Tsukemen, Inc. Blockchain Ltd. IT Services - - - 5/2/2018 Meta Saas, Inc. TA Associates Management LP; Teachers' Private Capital; Other SaaS - - - Flexera Software LLC 5/2/2018 Stretch Internet LLC Battery Ventures; Clubessential LLC Other SaaS - - - 5/2/2018 Payroll Express LLC GEX Management, Inc. Enterprise Software 2.00 - - 5/1/2018 Sage Data Security LLC Tyler Technologies, Inc. IT Security 11.50 - - 5/1/2018 Cisco Systems, Inc. (Service Provider Video Permira Advisers LLP Other SaaS 1,000.00 - - Software Bus) 5/1/2018 Accompani, Inc. Cisco Systems, Inc. Other SaaS 270.00 - - 5/1/2018 Reeher LLC Blackbaud, Inc. Other SaaS 43.00 5.89x - 5/1/2018 Digital Turbine, Inc. (Direct Carrier Billing Chargewave Ptd Ltd. Marketing Software - - - Business) 5/1/2018 Digital Turbine, Inc. (Advertisers & Publishers Creative Clicks BV Marketing Software - - - Business) 5/1/2018 Unity International Group, Inc. ENGIE North America, Inc. IT Services - - - 5/1/2018 Buan Consulting, Inc. Spaulding Ridge LLC IT Services - - - 5/1/2018 Mobile Butler Co. LLC Amenify Corp. Other SaaS - - - 4/30/2018 Pragmatic Works LLC Mainsail Partners; SQL Sentry LLC IT Services - - - 4/30/2018 Avizia, Inc. American Well Corp.; InVenture Partners Healthcare IT 150.00 - - 4/30/2018 Leadspace, Inc. BlueRun Ventures; The Founders Fund Management LLC; Marketing Software - - - Radius Intelligence, Inc.; Salesforce Ventures LLC; Eight Enterprises LLC 4/30/2018 REACH Health, Inc. InTouch Technologies, Inc.; Beringea LLP Healthcare IT - - - 4/30/2018 Vocado LLC Oracle Corp. Other SaaS 139.00 - - 4/30/2018 Universal Patient Key, Inc. Datavant Healthcare IT - - - 4/30/2018 RedBrick Health Corp. Marlin Management Co. LLC Healthcare IT 84.00 - - 4/30/2018 OtoSense, Inc. Analog Devices, Inc. Other SaaS - - - 4/30/2018 Fishidy, Inc. Raymarine, Inc. Other SaaS - - - 4/27/2018 Bizible, Inc. Vista Equity Partners Management LLC; Marketo, Inc. Marketing Software - - - 4/26/2018 Mattersight Corp. NICE Systems, Inc. Data & Analytics 102.40 1.91x - 4/26/2018 Mitchell International, Inc. Stone Point Capital LLC IT Services - - - 4/26/2018 Weebly, Inc. Square, Inc. Infrastructure/Hosting 265.00 - - 4/25/2018 Peachworks, Inc. Beyond, Inc. Enterprise Software - - - 4/25/2018 VendorHawk, Inc. ServiceNow, Inc. Other SaaS - - - 4/25/2018 Eventable, Inc. New York Angels, Inc.; Rockerbox, Inc. Marketing Software - - - 4/24/2018 Credit2B LLC Factor Systems, Inc. Financial Technology - - - 4/24/2018 PeopleFluent, Inc. Learning Technologies Group Plc Enterprise Software 150.00 - - 4/24/2018 Convergence Training Providence Equity Partners LLC; Vector Solutions, Inc. Other SaaS - - - 4/24/2018 Xtreme Consulting Group, Inc. Weston Presidio Service Co. LLC; Digital Intelligence IT Services - - - Systems LLC 4/24/2018 Stratalux, Inc. Great Hill Partners LP; Reliam LLC IT Services - - - 4/24/2018 DataSync Technologies, Inc. Clear Creek Group, Inc. Data & Analytics - - - 4/23/2018 Viewpoint, Inc. Trimble, Inc. Enterprise Software 1,200.00 - - 4/23/2018 Strategic Resources International, Inc. (New Peraton Government Communications, Inc. IT Services - - - Jersey) 4/23/2018 ThinkSmart LLC TA Associates Management LP; HgCapital LLP; Mitratech Enterprise Software - - - Holdings, Inc. 4/23/2018 Cookie Trust Working Group, Inc. IAB Technology Laboratory, Inc. IT Services - - - 4/23/2018 Platinum Systems, Inc. WHOA Networks, Inc. IT Services - - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 4/20/2018 B Virtual, Inc. Examity, Inc. Other SaaS - - - 4/20/2018 NoPileups LLC DRB Systems, Inc. IT Services - - - 4/19/2018 FareHarbor Holdings, Inc. Booking Holdings, Inc. Other SaaS - - - 4/19/2018 ClickPay Services, Inc. RealPage, Inc. Financial Technology 218.50 9.93x - 4/19/2018 Explore Consulting LLC RSM US LLP IT Services - - - 4/18/2018 Socrata, Inc. Tyler Technologies, Inc. Other SaaS 150.00 6.00x - 4/18/2018 Intrinsic4D, Inc. Scharfe Holdings, Inc. Healthcare IT 138.30 - - 4/18/2018 United Solution Telecommunications LLC Safety NetAccess, Inc. IT Services - - - 4/18/2018 Global Village Publishing, Inc. SAGE Publications, Inc. IT Services - - - 4/17/2018 Velosecure LLC Riverside Partners LLC (New York) IT Security - - - 4/17/2018 Blockforge, Inc. Xalles Holdings, Inc. Financial Technology - - - 4/17/2018 Lanlogic, Inc. Addressable Networks, Inc. IT Services - - - 4/17/2018 LogicMonitor, Inc. Vista Equity Partners Management LLC Other SaaS - - - 4/17/2018 AnchoRock Solutions Shareholders Other SaaS - - - 4/17/2018 Inpixon USA Shareholders Data & Analytics - - - 4/16/2018 PeopleAdmin, Inc. PowerSchool Group LLC Other SaaS - - - 4/16/2018 Leviathan Analytics Corp. Granahan McCourt Capital LLC; Frontier Data Corp. Data & Analytics - - - 4/16/2018 PowerSchool Group LLC Onex Partners Other SaaS - - - 4/16/2018 Asset Performance Technologies, Inc. Revolution Capital; Uptake Technologies, Inc. IT Services - - - 4/16/2018 New Light Technology Group, Inc. Pointe Smart LLC IT Services - - - 4/16/2018 Earn USA, Inc. Coinbase Global, Inc.; Reinventure Group Pty Ltd. Other SaaS 120.00 - - 4/16/2018 Sayspring, Inc. Adobe Systems, Inc. Other SaaS - - - 4/16/2018 360 Vertical Solutions, LLC SAGlobal, Inc. Enterprise Software - - - 4/15/2018 Clarity Money, Inc. Goldman Sachs Bank USA (New York) Financial Technology - - - 4/13/2018 HardFork, Inc. Coinbase Global, Inc. Other SaaS - - - 4/13/2018 Paybox Corp. Output Services Group, Inc. Financial Technology - - - 4/13/2018 Firm58, Inc. Versata Software, Inc.; ESW Capital LLC Financial Technology - - - 4/12/2018 XCellAir, Inc. Fon Wireless Ltd. Other SaaS - - - 4/12/2018 a la mode, Inc. CoreLogic, Inc. Other SaaS - - - 4/12/2018 Actian Corp. HCL Technologies Ltd.; Sumeru Equity Partners LP; Data & Analytics 330.00 3.08x 8.57x Shareholders 4/12/2018 iPayment Holdings, Inc. Blackstone Corporate Private Equity; CVC Capital Partners Financial Technology - - - Ltd.; Paysafe Group Plc 4/12/2018 Salsa Labs, Inc. Accel-KKR LLC Other SaaS - - - 4/12/2018 BizCompass LLC TAC Partners, Inc.; Thrive Operations LLC IT Services - - - 4/12/2018 Car360, Inc. Carvana Co. Other SaaS 23.57 - - 4/11/2018 Ontai Operational Technology Integrators IT Services - - - 4/11/2018 National Cred-A-Chek, Inc. NRT Technology Corp. IT Services - - - 4/11/2018 STG Group Holdings, Inc. SOS International Ltd. IT Services 83.00 - - 4/11/2018 PaRaBaL Inc. Isec7 GmbH Enterprise Software - - - 4/11/2018 PlanetRisk, Inc. (Softwre Business) Everbridge, Inc. IT Security - - - 4/10/2018 Valorem LLC Reply SpA IT Services - - - 4/10/2018 Quest Software, Inc. (Michigan) Abacus Finance Group LLC; WILsquare Capital LLC; IT Services - - - Shareholders 4/10/2018 Totaldiscovery LLC Catalyst Repository Systems, Inc.; Financial Technology Other SaaS - - - Ventures Management Co. LLC 4/10/2018 Plymouth Rock Technologies, Inc. Alexandra Capital Corp. IT Security 1.17 - - 4/10/2018 Keystyle Data Solutions LLC Bain Capital Private Equity LP; Viewpoint, Inc. Enterprise Software - - - 4/10/2018 Webyog, Inc. TA Associates Management LP; IDERA, Inc. Other SaaS - - - 4/9/2018 Lead Pistol LLC Technique Fitness, Inc. Other SaaS - - - 4/9/2018 Social Bicycles, Inc. TPG Capital LLC; Tata Capital (Private Equity); GV Other SaaS 200.00 - - Management Co. LLC; Uber Technologies, Inc.; Man Capital LLP; Letterone Investment Holdings SARL 4/9/2018 VeriFone Systems, Inc. BC Investment Management Corp.; Francisco Partners Financial Technology 3,229.01 1.74x 14.00x Management LLC; Shareholders 4/9/2018 Financial Engineering Associates, Inc. Vector Capital Management LP; Allegro Development Corp.; Financial Technology - - - Cerium Technology LLC 4/9/2018 SourceClear, Inc. CA, Inc. IT Security 25.00 - - 4/8/2018 Edmodo, Inc. Best Assistant Education Group Co.; Digital Train Ltd. Other SaaS 278.84 - - 4/8/2018 Red Sky Solutions LLC FMT Consultants LLC IT Security - - - 4/6/2018 Medforce Technologies, Inc. Ideagen Plc Healthcare IT 8.70 1.85x - 4/6/2018 Azimuth Communications, Inc. Tontine Associates LLC; IES Communications Group, Inc. IT Services - - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 4/5/2018 Element Genomics, Inc. UCB SA Healthcare IT 30.00 - - 4/5/2018 Stratus Data Systems, Inc. iLOOKABOUT Corp. Infrastructure/Hosting - - - 4/5/2018 Certive Health, Inc. (Arizona) Shareholders Healthcare IT - - - 4/5/2018 Telerx Marketing, Inc. HCL Technologies Ltd. IT Services 60.00 - - 4/5/2018 ImageTag, Inc. enChoice, Inc. Enterprise Software - - - 4/5/2018 Q5 Division, LLC N2growth, Inc. Data & Analytics - - - 4/5/2018 Mainstreet Technologies, Inc. (GA) Accel-KKR LLC; Banker's Toolbox, Inc. Financial Technology - - - 4/5/2018 Reputationdefender LLC The Stagwell Group LLC IT Services - - - 4/5/2018 LocalPet, Inc. True Nature Holding, Inc. Other SaaS 0.04 - - 4/5/2018 SiteLock LLC ABRY Partners LLC IT Security - - - 4/5/2018 CSATS, Inc. Johnson & Johnson Healthcare IT - - - 4/4/2018 Vehicle Agency LLC CLX Communications AB Data & Analytics 12.00 - - 4/4/2018 EPIQ Systems, Inc. (GA( (Bankruptcy & Fiduciary BofI Federal Bank IT Services - - - Services) 4/4/2018 DatStat, Inc. SCI Solutions, Inc. Healthcare IT - - - 4/4/2018 Client Network Services, Inc. Alvarez & Marsal LLC; Alvarez & Marsal Holdings LLC; A&M Healthcare IT - - - Capital Partners 4/4/2018 Reelio, Inc. Fullscreen, Inc. Marketing Software - - - 4/4/2018 MotorWebs, Inc. Primus Capital Partners, Inc.; fusionZONE Automotive LLC Marketing Software - - - 4/4/2018 Insurance Technologies Corp. Accel-KKR LLC Marketing Software - - - 4/3/2018 CM2.Com, Inc. Zix Corp. IT Services 15.00 5.00x - 4/3/2018 RMG Networks Holding Corp. SCG Digital LLC Enterprise Software 15.39 0.43x - 4/3/2018 Wind River Systems, Inc. TPG Capital LLC; TPG Capital Advisors LLC Other SaaS - - - 4/3/2018 Bomgar Corp. Francisco Partners Management LLC IT Security - - - 4/3/2018 Key Information Systems, Inc. Converge Technology Partners, Inc. Infrastructure/Hosting - - - 4/3/2018 Hyper Financial Technologies, Inc. CannaSys, Inc. Financial Technology - - - 4/3/2018 Nobletek (Dassault Systemes Business) Adaptive Corp. Other SaaS - - - 4/3/2018 XS, Inc. Technekes LLC Data & Analytics - - - 4/3/2018 Wake, Inc. INVISION, Inc. Other SaaS - - - 4/3/2018 Breakthrough Technology Group LLC NexusTek, Inc. Infrastructure/Hosting - - - 4/2/2018 Smartvue Corp. Johnson Controls International Plc IT Security - - - 4/2/2018 Southport Services Group LLC Perficient, Inc. IT Services - - - 4/2/2018 YouCaring Dot Com LLC GoFundme, Inc. Other SaaS - - - 3/31/2018 Azuga, Inc. Sumeru Equity Partners LP Enterprise Software - - - 3/29/2018 C3 Consulting LLC Ankura Consulting Group LLC IT Services - - - 3/29/2018 Element Solutions LLC Hinduja Global Solutions UK Ltd. Infrastructure/Hosting 8.77 1.04x - 3/29/2018 SiteLink Software LLC SpareFoot, Inc.; Insight Venture Management LLC; Capital IT Services - - - Factory Management LLC 3/29/2018 FourV Systems LLC Columbia Capital LLC (Virginia); Harmony Partners IT Security - - - Management Co. LLC; OPAQ Networks, Inc. 3/28/2018 Falcon Subsidiary LLC HGS Population Health LLC Healthcare IT 14.00 0.23x - 3/28/2018 E8 Security, Inc. VMware, Inc. IT Security - - - 3/27/2018 Stessa, Inc. JLL Spark Financial Technology - - - 3/27/2018 Asimmetric, Inc. Aruba Networks, Inc. Other SaaS - - - 3/27/2018 Online Automotive Solutions LLC New Media Investment Group, Inc.; UpCurve, Inc. Enterprise Software 4.00 - - 3/27/2018 Avintus LLC Genstar Capital LLC; Aquiline Capital Partners LLC; Ascensus, Enterprise Software - - - Inc. 3/27/2018 Tenor, Inc. Alphabet Inc. (NasdaqGS:GOOGL) Other SaaS - - - 3/27/2018 Public Safety Corp. Superion LLC; Vista Equity Partners Management LLC Enterprise Software - - - 3/27/2018 Watermark Insights LLC Quad Partners LLC; TCMI, Inc.; Exceed Capital Partners; Other SaaS - - - Shareholders 3/27/2018 Orchestrate LLC AppExtremes LLC Other SaaS - - - 3/26/2018 Lexisnexis Legal & Professional, Inc. (eDiscovery Trial Solutions of Texas LLC; Peak Rock Capital LLC Data & Analytics - - - Business) 3/23/2018 MDS Lavastorm Analytics, Inc. Infogix, Inc.; Thoma Bravo LLC Data & Analytics - - - 3/23/2018 Pulpix, Inc. BNP Paribas Développement SA; Kima Ventures SAS; Other SaaS - - - Adyoulike SA; Kreaxi SASU 3/23/2018 Redcap Technologies LLC Solera Holdings, Inc. Enterprise Software - - - 3/22/2018 ECS Prepaid LLC Gopher Protocol, Inc. Financial Technology 2.16 - - 3/22/2018 AlphaTrust Corp. Golub Capital Partners LLC; Ares Capital Management LLC Financial Technology - - - (Private Equity); Internet Pipeline, Inc.; Thoma Bravo LLC 3/22/2018 Netpulse, Inc. eGym GmbH Enterprise Software - - - 3/22/2018 Advance Systems, Inc. Mitrefinch Ltd. Enterprise Software - - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 3/21/2018 Advanced Discovery LLC GI Manager LP Other SaaS - - - 3/21/2018 Sylogent LLC Providence Equity Partners LLC; Anju Software, Inc. Enterprise Software - - - 3/21/2018 CRS Texas The CapStreet Group LLC Financial Technology - - - 3/21/2018 Cube Six, Inc. WorkWave LLC Enterprise Software - - - 3/21/2018 Connectiv, Inc. Accruent LLC Healthcare IT - - - 3/21/2018 Studio6, Inc. randrr, Inc. Other SaaS - - - 3/21/2018 Avetta LLC Welsh, Carson, Anderson & Stowe; TCMI, Inc.; Shareholders Other SaaS - - - 3/21/2018 MobilePhire Corp. MobilSense Technologies, Inc. Enterprise Software - - - 3/21/2018 Infomart Data Centers Inc (3 Data Centers) IPI Data Center Partners Management LLC Infrastructure/Hosting - - - 3/20/2018 MuleSoft, Inc. salesforce.com Marketing Software 5,790.91 19.53x - 3/20/2018 Vectus, Inc. California Internet LP Infrastructure/Hosting - - - 3/20/2018 DRS Imaging Services LLC The HiGro Group LLC Other SaaS - - - 3/20/2018 OfferCraft LLC NRT Technology Corp. Other SaaS - - - 3/20/2018 TechLine Communications, Inc. Konica Minolta Business Solutions USA, Inc. Other SaaS - - - 3/20/2018 Newbury Taleo Group, Inc. Eurogiciel Ingenierie SAS; Evosys SAS Other SaaS - - - 3/19/2018 ZLan Partners, Inc. Sharp Electronics Corp.; Sharp Business Systems, Inc. Infrastructure/Hosting - - - 3/19/2018 truCrowd Illinois, Inc. Digital Arts Media Network, Inc. Financial Technology - - - 3/19/2018 Comity Designs, Inc. Brillio LLC IT Services - - - 3/15/2018 WebCollage, Inc. The Wicks Group of Cos. LLC; Gladson LLC Marketing Software - - - 3/15/2018 BlueLock LLC Huron Capital Partners LLC; InterVision Systems Infrastructure/Hosting - - - Technologies, Inc.; RLG Capital, LLC 3/15/2018 FSE, Inc. The Wicks Group of Cos. LLC; Gladson LLC Supply Chain Software - - - 3/15/2018 AGTEK Development Co., Inc. Hexagon AB Other SaaS - - - 3/15/2018 Advanced Threat Analytics, Inc. Critical Start, Inc. IT Security - - - 3/15/2018 PlanetEcosystems, Inc. Franklin Energy Services LLC Marketing Software - - - 3/14/2018 JVH CAD Solutions D3 Technical Services LLC IT Services - - - 3/13/2018 Imaging Biometrics LLC Flying Brands Ltd. Enterprise Software 0.76 - - 3/13/2018 Kroll, Inc. The Carlyle Group LP (Corporate Private Equity); Duff & IT Services - - - Phelps LLC (New York); NB Alternatives Advisers LLC; UC Ventures 3/13/2018 DatChat, Inc. Spherix, Inc. Other SaaS 60.00 - - 3/13/2018 Togetherwork Holdings LLC GI Manager LP Enterprise Software - - - 3/13/2018 Talent Rover LLC Insight Venture Management LLC; Bullhorn, Inc. Other SaaS - - - 3/13/2018 Hedgehog Analytics Glantus Ltd. Data & Analytics - - - 3/12/2018 Vaultive, Inc. CyberArk Software Ltd. Other SaaS - - - 3/12/2018 MadGlory PUBG Corp. Other SaaS - - - 3/12/2018 eTouch Systems Corp. Virtusa Corp. IT Services 140.00 - - 3/12/2018 Booker Software, Inc. MINDBODY, Inc. Marketing Software 150.00 - - 3/12/2018 Qustn Technologies, Inc. Lumis Partners; People Strong HR Services Pvt Ltd. Other SaaS - - - 3/11/2018 Netsil, Inc. Nutanix, Inc. IT Services 69.93 - - 3/9/2018 Index Corp. (California) Sequoia Capital; Y Combinator LLC; Stripe, Inc.; Moment Financial Technology - - - Ventures LLC 3/8/2018 BevyUp Nordstrom, Inc. Other SaaS - - - 3/7/2018 ABILITY Network, Inc. Inovalon Holdings, Inc. Healthcare IT 1,194.24 - - 3/7/2018 NameSilo LLC Brisio Innovations, Inc. Other SaaS 9.51 - - 3/7/2018 Intelligent Decisions, Inc. Acacia Group IT Services - - - 3/7/2018 Octiv, Inc. AppExtremes, Inc.; Salesforce Ventures LLC Marketing Software - - - 3/7/2018 Cyberdeadbolt Rivetz Corp. IT Security - - - 3/6/2018 CommerceHub, Inc. GTCR LLC; Sycamore Partners Management LP; Shareholders Financial Technology 969.93 8.73x 26.37x

3/6/2018 Kngine, Inc. Samsung Research America, Inc. Other SaaS - - - 3/6/2018 Kensho Technologies, Inc. S&P Global, Inc. Financial Technology 550.00 - - 3/6/2018 Appia Communications, Inc. CallTower, Inc. IT Services - - - 3/6/2018 MyCheck LLC O.G. Tech Ventures Financial Technology - - - 3/6/2018 Clarizen, Inc. K1 Investment Management LLC; Shareholders Enterprise Software 110.00 - - 3/6/2018 Geo-Connections, Inc. Borealis Ventures; Collaborative Fund; Beijing Zhenge Other SaaS - - - Tiancheng Investment Management Co. Ltd.; Dandelion Energy, Inc. 3/5/2018 Nangate, Inc. Silvaco, Inc. Other SaaS - - - 3/5/2018 Potdrive, Inc. Hawk Street Acquisition Corp. Other SaaS - - - 3/5/2018 CAD-1, Inc. Applied Software Technology, Inc. Other SaaS - - - 3/5/2018 BCS, Inc. Syncom Group Data & Analytics - - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 3/2/2018 Chicago Technology Advisors Porcaro Stolarek Mete Partners LLC IT Services - - - 3/1/2018 Wattmaster Controls, Inc. AAON, Inc. Other SaaS - - - 3/1/2018 Informatics Corp. of America, Inc. The SSI Group, Inc. Data & Analytics - - - 3/1/2018 A(G Technologies, Inc. True Digital Security, Inc. IT Security - - - 3/1/2018 Execusoft Controls, Inc. ITVantix LLC IT Services - - - 3/1/2018 Minjar, Inc. Nutanix, Inc. IT Services - - - 2/28/2018 Phunware, Inc. Stellar Acquisition III, Inc. Data & Analytics 301.00 6.36x - 2/28/2018 Strategic Internet Marketing Partners, Inc. Reputation.com, Inc. Marketing Software - - - 2/27/2018 Openwave Mobility, Inc. Enea AB Other SaaS 90.00 3.33x - 2/27/2018 Phantom Cyber Corp. Splunk, Inc. IT Security 350.00 - - 2/27/2018 Active Website LLC RE/MAX LLC Other SaaS - - - 2/27/2018 Crosslink Professional Tax Solutions LLC LNC Partners Other SaaS - - - 2/27/2018 Axom Technologies, Inc. By Light Professional IT Services LLC; Sagewind Capital LLC IT Services - - - 2/27/2018 Corridor Platforms, Inc. ExlService Holdings, Inc. Data & Analytics - - - 2/26/2018 Intermedix Corp. R1 RCM, Inc. Healthcare IT 460.00 - - 2/26/2018 Cofense, Inc. Pamplona Capital Management LLP; BlackRock Private Equity IT Security 400.00 11.83x - Partners; Phishme, Inc. (Private Group) 2/26/2018 Help(Systems LLC HGGC LLC Infrastructure/Hosting - - - 2/26/2018 Syncromatics Corp. Grupo Tecnologico e Industrial GMV SA IT Services - - - 2/26/2018 Indaba Media LLC Distributed Creation, Inc. IT Services - - - 2/26/2018 Hexa True Ventures LLC; Nextgen Venture Partners LLC; IT Services - - - OutboundWorks, Inc. 2/23/2018 Cakewalk, Inc. BandLab Singapore Pte Ltd. Other SaaS - - - 2/23/2018 Addstructure Corp. Bazaarvoice, Inc.; Marlin Management Co. LLC Other SaaS - - - 2/22/2018 Pneuron Corp. UST Global, Inc. Infrastructure/Hosting - - - 2/22/2018 MotionDSP, Inc. Cubic Corp. Other SaaS - - - 2/21/2018 Superior QC LLC Patterson-UTI Energy, Inc. Other SaaS - - - 2/21/2018 ClearEdge3D, Inc. Topcon Corp. Other SaaS - - - 2/21/2018 IO Informatics, Inc. Melissa Data Corp. Other SaaS - - - 2/21/2018 Advanced-HR, Inc. Solium Capital, Inc. Enterprise Software - - - 2/21/2018 Blockchain Loyalty, Inc. Peerless Developments Ltd.; OnKard Ltd. Financial Technology 87.50 - - 2/20/2018 Panjiva, Inc. S&P Global, Inc. Financial Technology - - - 2/20/2018 Newport Credentialing Solutions LLC Arsenal Capital Management LP; TractManager, Inc. Enterprise Software - - - 2/20/2018 SMA Informatics Partners LLC EnterBridge Technologies, Inc. Data & Analytics - - - 2/20/2018 Red Rock IT Executech Utah LLC IT Services - - - 2/19/2018 Global View Analytics, Inc. Mindstream Analytics LLC Data & Analytics - - - 2/16/2018 Webdam Solutions, Inc. Insight Venture Management LLC; Bynder BV Other SaaS 49.10 - - 2/15/2018 Zenedge, Inc. Oracle Corp. IT Security - - - 2/15/2018 Flatiron Health, Inc. Roche Holding AG Healthcare IT 2,173.91 - - 2/15/2018 Mozy, Inc. Carbonite, Inc. Other SaaS 145.80 - - 2/15/2018 Allscripts Healthcare LLC (OneContent Bus) Hyland Software, Inc.; Thoma Cressey Bravo, Inc. Healthcare IT - - - 2/14/2018 nDivision, Inc. Go2Green Landscaping, Inc. IT Services 1.38 - - 2/14/2018 Hightail, Inc. Open Text Corp. Infrastructure/Hosting - - - 2/13/2018 Modernity Technologies, Inc DMG Blockchain Solutions, Inc. Financial Technology 3.48 - - 2/13/2018 MRK Networks, Inc. Cloud Jumper Corp. Infrastructure/Hosting - - - 2/13/2018 Campus Insights LLC Harvard Student Agencies, Inc. Other SaaS - - - 2/12/2018 CSRA, Inc. General Dynamics Corp. IT Services 9,632.68 1.90x 11.83x 2/12/2018 KeraFAST, Inc. Absolute Antibody Ltd. Other SaaS - - - 2/12/2018 Great Lakes Scrip Center LLC Bold Orange Co. Other SaaS - - - 2/12/2018 Provata Health, Inc. The StayWell Co. LLC; Healthcare Services & Solutions LLC Healthcare IT - - - 2/12/2018 Windsor Circle, Inc. Output Services Group, Inc.; Aquiline Capital Partners LLC Data & Analytics - - - 2/12/2018 Amber Road, Inc. Insight Venture Management LLC; E2open LLC; Shareholders Supply Chain Software 299.54 - -

2/12/2018 Scala, Inc. STRATACACHE Products, Inc. Marketing Software - - - 2/8/2018 Pandoodle Corp. EC Technology & Innovations Ltd. Data & Analytics - - - 2/8/2018 Alfresco Software, Inc. Thomas H. Lee Partners LP Enterprise Software - - - 2/8/2018 InterCloud Systems, Inc. (Subsidiaries) Spectrum Global Solutions, Inc. IT Services 5.00 - - 2/7/2018 Adaptik Corp. Sapiens International Corp. NV Other SaaS 22.00 - - 2/7/2018 Vidcon Enterprises, Inc. Viacom, Inc. Enterprise Software - - - 2/7/2018 BestReviews LLC Tribune Publishing Co. LLC Other SaaS 107.72 - - 2/7/2018 Live Youth Sports Network, Inc. HPIL Holding Other SaaS - - - 2/6/2018 ComQi, Inc. AU Optronics Corp. Marketing Software 28.00 - - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 2/6/2018 Codeship, Inc. Matrix Management Corp.; Lightspeed Management Co. Infrastructure/Hosting - - - LLC; Verizon Ventures LLC; Cloudbees, Inc. 2/6/2018 3VR Security, Inc. Eagle Acquisition, Inc. (California) Other SaaS 13.87 - - 2/6/2018 Datos IO, Inc. Institutional Venture Partners; Greylock Management Corp.; Enterprise Software - - - Khosla Ventures LLC; Rubrik, Inc. 2/6/2018 EdgePoint Systems Compass Datacenters LLC IT Services - - - 2/6/2018 POSitouch LLC Shift4 Corp. Other SaaS - - - 2/6/2018 TiBA Solutions LLC Kopis LLC Data & Analytics - - - 2/6/2018 dinCloud, Inc. Premier BPO, Inc. Infrastructure/Hosting - - - 2/5/2018 Argyle Data, Inc. Mavenir Systems, Inc. IT Security - - - 2/5/2018 Online Tech, Inc. Schurz Communications, Inc. Infrastructure/Hosting - - - 2/5/2018 Oxford Solutions LLC RSE Ventures LLC IT Security 30.00 - - 2/2/2018 Aljex Software, Inc. The Descartes Systems Group, Inc. IT Services 32.40 - - 2/2/2018 e-Builder, Inc. Trimble, Inc. Other SaaS 500.00 11.52x - 2/2/2018 Open Link Financial, Inc. The Carlyle Group LP (Corporate Private Equity); ION Financial Technology - - - Investment Group Ltd. 2/2/2018 Digital Fuel SV LLC Apptio, Inc. IT Services 42.87 - - 2/2/2018 CirrusOne LLC Epic Ventures; Cross Creek Advisors LLC; Salesforce Ventures Enterprise Software - - - LLC; Outbox Systems, Inc. 2/2/2018 Mobius Medical Systems LP Varian Medical Systems, Inc. Healthcare IT - - - 2/2/2018 Wombat Security Technologies, Inc. Proofpoint, Inc. IT Security 225.00 - - 2/1/2018 Lieberman Software Corp. Bomgar Corp.; Thoma Bravo LLC IT Security - - - 2/1/2018 Investors Mortgage Asset Recovery Co. LLC QuestSoft, Inc. Other SaaS - - - 2/1/2018 Real Estate Digital LLC Constellation Software, Inc. Other SaaS - - - 2/1/2018 Medical Communication Technologies, Inc. Accel-KKR LLC; IntegriChain, Inc. Other SaaS - - - 2/1/2018 Homecare Accounting Solutions LLC Netsmart Technologies, Inc. Healthcare IT - - - 2/1/2018 EmNET LLC Xylem, Inc. Other SaaS - - - 2/1/2018 Critical Solutions Group LLC Brookfield Global Integrated Solutions Canada LP Infrastructure/Hosting - - - 2/1/2018 Auconet, Inc. Beta Systems Dci Software AG IT Services - - - 1/31/2018 FlexiSphere Technologies, Inc. Super Crypto Mining, Inc. IT Services - - - 1/31/2018 Infospectrum, Inc. (Impresa MRO) Aras Corp. Other SaaS - - - 1/31/2018 iThemes Media LLC Madison Dearborn Partners LLC; Liquid Web, Inc. Infrastructure/Hosting - - - 1/31/2018 Performance Matters LLC Vista Equity Partners; PeopleAdmin, Inc. Data & Analytics - - - 1/30/2018 MyBuys, Inc. Evergage, Inc. Marketing Software - - - 1/30/2018 Node40 LLC HashChain Technology, Inc. Infrastructure/Hosting 13.40 - - 1/30/2018 Edbacker LLC Snowflake Technologies, Inc. Financial Technology - - - 1/30/2018 CoreOS, Inc. Red Hat, Inc. IT Security 250.00 - - 1/30/2018 Club Automation LLC GI Manager LP; Daxko LLC Other SaaS - - - 1/29/2018 ThreatMetrix, Inc. RELX Plc IT Security 830.00 - - 1/29/2018 SingleHop LLC Internap Corp. Infrastructure/Hosting 132.00 2.91x - 1/29/2018 Callidus Software, Inc. SAP America, Inc. Marketing Software 2,242.08 8.86x - 1/29/2018 Spongecell, Inc. Simplicity Marketing Ltd. Marketing Software - - - 1/29/2018 USfalcon, Inc. CM Equity Partners; RGS Associates, Inc. IT Services - - - 1/26/2018 ExoIS SharedLabs, Inc. IT Security - - - 1/25/2018 Entomo, Inc. Insight Venture Management LLC; E2open LLC Enterprise Software - - - 1/25/2018 MEDTranDirect, Inc. Mediware Information Systems, Inc.; TPG Capital LLC Financial Technology - - - 1/25/2018 Autonomic, Inc. Ford Smart Mobility LLC Other SaaS - - - 1/25/2018 Bask Technologies, Inc. Brainly, Inc. Other SaaS - - - 1/24/2018 SQRRL DATA INC Amazon Web Services, Inc. Data & Analytics - - - 1/24/2018 Epoch Universal, Inc. PCM, Inc. IT Services - - - 1/24/2018 Breaker 101 Benchmark Capital Management Co. LLC; HackerOne, Inc. IT Security - - - 1/24/2018 & CO Ventures, Inc. Fiverr International Ltd. Other SaaS - - - 1/24/2018 Skyport Systems, Inc. Cisco Systems, Inc. (NasdaqGS:CSCO) Infrastructure/Hosting - - - 1/23/2018 Main Street Hub, Inc. GoDaddy, Inc. Marketing Software 175.00 - - 1/23/2018 ATADATA LLC LLP (New York) IT Services - - - 1/23/2018 Referral Key, Inc. Refer.com, Inc. Other SaaS - - - 1/23/2018 FactorChain, Inc. Sutter Hill Ventures LLC; Institutional Venture Partners; Accel IT Security - - - Partners LLC; Sequoia Capital; Greylock Management Corp.; DFJ Growth Management LLC 1/23/2018 Rizing LLC OEP Capital Advisors LP Other SaaS - - - 1/23/2018 FogChain, Inc. Mukuba Resources Ltd. Financial Technology - - - 1/22/2018 WorkMarket, Inc. Automatic Data Processing, Inc. Other SaaS 125.00 20.83x - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 1/22/2018 eTelligent Solutions, Inc. (US) SHI International Corp. IT Services - - - 1/22/2018 High Tech Solutions' Automotive Pattern Teamtronics, Inc. Other SaaS - - - Recognition 1/22/2018 Plant Design Solutions, Inc. Hexagon AB Other SaaS - - - 1/22/2018 eGovernment Solutions LLC Providence Equity Partners LLC; GSV Government LLC; Other SaaS - - - Shareholders 1/22/2018 LinkTrust Technologies LLC Loyal Cos., Inc. Marketing Software - - - 1/19/2018 Growprocess, Inc. ProText Mobility, Inc. Other SaaS - - - 1/18/2018 Invicara, Inc. Kingspan Group Plc Data & Analytics 10.00 - - 1/18/2018 National Decision Support Co. Change Healthcare Holdings, Inc.; Blackstone Corporate Other SaaS - - - Private Equity; Hellman & Friedman LLC 1/17/2018 Motus Thoma Bravo LLC Enterprise Software - - - 1/17/2018 Runzheimer International Thoma Bravo LLC Enterprise Software - 0.00x 0.00x 1/17/2018 Percipient Networks, LLC WatchGuard Technologies, Inc. IT Security - - - 1/17/2018 Via Oncology LLC Elsevier BV Healthcare IT - - - 1/17/2018 SkipFlag, Inc. Workday, Inc. Other SaaS - - - 1/16/2018 N2W Software, Inc. Veeam Software AG Enterprise Software 42.50 - - 1/16/2018 Mersive Technologies, Inc. OpenGate Capital LLC Other SaaS - - - 1/16/2018 Blackhawk Network Holdings, Inc. Silver Lake Management Co. LLC; P2 Capital Partners LLC Financial Technology 1,997.62 0.90x 9.09x (Private Equity); Shareholders 1/16/2018 Notion Data, Inc. Jama Software, Inc.; Oregon Angel Fund Data & Analytics - - - 1/16/2018 Marketron Broadcast Solutions LLC Diversis Capital LLC Marketing Software - - - 1/16/2018 Converse.Ai, Inc. Smartsheet, Inc.; Madrona Venture Group LLC Other SaaS - - - 1/16/2018 Spare CS, Inc. Gopher Protocol, Inc. Financial Technology 5.90 - - 1/15/2018 The Crypto Currency Mining Co., Inc. Imperalis Holding Corp. Financial Technology 175.26 - - 1/12/2018 Tissue Analytics, Inc. Cederroth AB; Mölnlycke Health Care, Inc. Healthcare IT - - - 1/12/2018 X15 Software, Inc. FireEye, Inc. Data & Analytics 20.00 - - 1/11/2018 DST Systems, Inc. SS&C Technologies Holdings, Inc. IT Services 5,523.11 2.49x 12.63x 1/11/2018 Healthfirst Financial LLC Frontier Capital LLC; AccessOne MedCard, Inc. Healthcare IT - - - 1/11/2018 Industrial Business Solutions, Inc. Hexagon AB Other SaaS - - - 1/11/2018 Quote Software, Inc. iSqFt, Inc. Other SaaS - - - 1/11/2018 IoT Impact LABS Context Labs, Inc. Other SaaS - - - 1/10/2018 Perforce Software, Inc. CCG Operations LLC; Clearlake Capital Group LP Other SaaS - - - 1/9/2018 Notch Co. Capital One Financial Corp. Data & Analytics - - - 1/9/2018 Infian LLC Perseus Operating Group; Quantitative Medical Systems, Inc. Healthcare IT - - - 1/9/2018 Lyrix Inc (Mobiso Software) Votacall, Inc. Other SaaS - - - 1/9/2018 Shugo LLC Inverness Graham Investments, Inc.; SwipeClock LLC Enterprise Software - - - 1/8/2018 Practice Fusion, Inc. Allscripts Healthcare LLC Healthcare IT 100.00 - - 1/8/2018 Immunity, Inc. BC Partners Ltd.; Medina Capital Partners, Inc.; Cyxtera IT Security - - - Technologies, Inc. 1/8/2018 TextRecruit, Inc. iCIMS, Inc. Enterprise Software - - - 1/8/2018 Loggly, Inc. SolarWinds, Inc.; Thoma Bravo LLC IT Services - - - 1/8/2018 Attic Labs, Inc. salesforce.com Infrastructure/Hosting - - - 1/5/2018 Metavero LLC Vertical Edge Consulting Group, Inc. IT Services - - - 1/4/2018 Acclivity Group LLC Fortissimo Capital Management Ltd.; Eshbel Technologies Enterprise Software - - - Ltd. 1/3/2018 Pair Networks, Inc. Liberated Syndication Inc. Infrastructure/Hosting 16.12 - - 1/3/2018 PhishLine LLC Barracuda Networks, Inc. IT Security - - - 1/3/2018 Cyberinc (Identity & Access Management Bus) KPMG LLP IT Security 34.30 - - 1/3/2018 Brightfunnel, Inc. Terminus Software LLC Data & Analytics - - - 1/3/2018 Faichi Solutions LLC Saksoft, Inc. Healthcare IT - - - 1/2/2018 CRM Software, Inc. AdvisorEngine, Inc. Enterprise Software - - - 1/2/2018 TelePayroll, Inc. Asure Software, Inc. Enterprise Software - - - 1/2/2018 Personal Communication Systems, Inc. West Corp. Enterprise Software - - - 1/2/2018 Integra I.T. Solutions LLC DAS Health Ventures, Inc. IT Services - - -