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Software Equity Group Flash Report Software Equity Group Flash Report Select M&A Transactions and Valuations and Financial and Valuation Performance of 250+ Publicly Traded Software, SaaS and Internet Companies by Product Category LEADERS IN SOFTWARE M&A • Industry leading boutique investment bank, founded in 1992, representing public and private software and We Do Deals. internet companies seeking: • Strategic exit • Growth capital • Buyout • Inorganic growth via acquisition • Buy and sell-side mentoring • Fairness opinions and valuations • Sell-side client revenue range: $5 - 75 million • Buy-side clients include private equity firms and NASDAQ, NYSE and foreign exchange listed companies • Clients span virtually every software technology, product category, delivery model and vertical market • Global presence providing advice and guidance to more than 2,000 private and public companies throughout US, Canada, Europe, Asia-Pacific, Africa and Israel • Strong cross-functional team leveraging transaction, operating, legal and engineering experience • Unparalleled software industry reputation and track record. • Highly referenceable base of past clients Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved ABOUT SOFTWARE EQUITY GROUP Software Equity Group is an investment bank and M&A advisory serving the software and technology sectors. Founded in 1992, our firm has guided and advised companies on five continents, including privately‐held software and technology companies in the United States, Canada, Europe, Asia Pacific, Africa and Israel. We have represented public companies listed on the NASDAQ, NYSE, American, Toronto, London and Euronext exchanges. Software Equity Group also advises several of the world's leading private equity firms. We are ranked among the top ten investment banks worldwide for application software mergers and acquisitions. Our value proposition is unique and compelling. We are skilled and accomplished investment bankers with extraordinary software, internet and technology domain expertise. Our industry knowledge and experience span virtually every software product category, technology, market and delivery model, including Software‐as‐a‐Service (Saas), software on‐demand and perpetual license. We have profound understanding of software company finances, operations and valuation. We monitor and analyze every publicly disclosed software M&A transaction, as well as the market, economy and technology trends that impact these deals. We're formidable negotiators and savvy dealmakers who facilitate strategic combinations that enhance shareholder value. Perhaps most important are the relationships we've built and the industry reputation we enjoy. Software Equity Group is known and respected by publicly traded and privately owned software and technology companies worldwide, and we speak with them often. Our Quarterly and Annual Software Industry Equity Reports are read and relied upon by more than thousands of industry executives, entrepreneurs and equity investors in sixty‐one countries, and we have been quoted widely in such leading publications as The Wall Street Journal, Barrons, Information Week, The Daily Deal, The Street.com, U.S. News & World Report, Reuters, Mergers & Acquisitions, USA Today, Arizona Republic, Detroit Free Press, Entrepreneur Magazine, Softletter, Software Success, Software CEO Online and Software Business Magazine. To keep your finger on the pulse of the software equity markets, subscribe to our Annual and Quarterly Research Reports. Software Equity Group is an investment bank and M&A advisory serving the software and technology sectors. For a confidential consultation without obligation, please contact Kris Beible, Director, Business Development (858) 509‐2800, [email protected] . CONTACT INFORMATION: Software Equity Group, L.L.C. 12220 El Camino Real, Suite 320 San Diego, CA 92130 www.softwareequity.com p: (858) 509‐2800 The information contained in this Report is obtained from sources we believe to be reliable, but no representation or guarantee is made about the accuracy or completeness of such information, or the opinions expressed herein. Nothing in this Report is intended to be a recommendation of a specific security or company or intended to constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any security. Software Equity Group LLC may have an interest in one or more of the securities or companies discussed herein. Financial data provided by Capital IQ. This Report may not be reproduced in whole or in part without the expressed prior written authorization of Software Equity Group, L.L.C. Software Equity Group registers each Report with the U.S. Copyright Office and vigorously enforces its intellectual property rights. Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved List of Commonly Used Acronyms Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved SEG Index Changes Additions: Company Ticker Index Category Rapid7, Inc. RPD Software Security Removals Company Ticker Previous Index Previous Category Advent Software - Software Vertical - Finance Acquired by SS&C Technologies Holdings, Inc. ($2.6B) ClickSoftware Technologies Ltd. - Software Not Categorized Acquired by Francisco Partners Fund IV ($421.3M) Rally Software Development Corp. - SaaS Other SaaS Acquired by CA Technologies, Inc. ($533. 5M) Geeknet, Inc. - Internet Commerce Acquired by GameStop Corp. ($133.8M) Perfect World Co., Ltd. - Internet Gaming Acquired by Michael Yufend Chi ($918.0M) Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved Table of Contents Select Software Industry M&A Transactions SEG Software Index SEG SaaS Index SEG Internet Index Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved Select Software Industry M&A Transactions SEG Software Index SEG SaaS Index SEG Internet Index Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved Select July 2015 Software Industry M&A Transactions Target TTM Enterprise Date Revenue Value EV/ EV/ Announced Acquirer Target ($mm) ($mm) Revenue EBITDA Jul-01-2015 ProfitStars, Inc. Bayside Business Solutions, Inc. ---- Jul-01-2015 Multi Packaging Solutions, Inc. BP Media Limited ---- Jul-01-2015 Bluedon Information Security Technologies Co.,Ltd. China Express E-commerce Co., Ltd And $3.7 $177.2 48.6x - Jul-01-2015 Vitec Software Group AB (OM:VIT B) Datamann A/S - $5.2 - - Jul-01-2015 Dai Nippon Printing Co. Ltd. (TSE:7912) DNP HyperTech Co., Ltd. ---- Jul-01-2015 Nintex Group Pty Ltd Drawloop Technologies, Inc. ---- Jul-01-2015 Paratus AMC Limited Funding Empire Limited ---- Jul-01-2015 Fiera Milano SpA. (BIT:FM) Ipack-Ima SpA - $2.8 - - Jul-01-2015 Synoptic Technologies Ltd. iVeridis Corporation ---- Jul-01-2015 Stratacache, Inc. IZ ON Media LLC ---- Jul-01-2015 GL Assessment Ltd. Lucid Research Ltd. ---- Jul-01-2015 Mel Foster Co., Inc. Mills Realty Inc. ---- Jul-01-2015 Amadeus IT Group S.A. Navitaire LLC - $830.0 - 13.8x Jul-01-2015 Infotheek Groep B.V. Network2day BV ---- Jul-01-2015 Gartner Inc. (NYSE:IT) Nubera eBusiness S.L. ---- Jul-01-2015 MAM Software Group, Inc. (NasdaqCM:MAMS) Origin Software Solutions Limited ---- Jul-01-2015 SilverVue, Inc. ProMD LLC ---- Jul-01-2015 LoanLogics, Inc. RexHub, LLC ---- Jul-01-2015 USU Software AG (XTRA:OSP2) SecurIntegration GmbH $1.7 $3.3 2.0x - Jul-01-2015 Shenzhen Sea Star Technology Co., Ltd. Shanghai Lixuan Advertising Co., Ltd. $3.1 $11.3 3.6x - Jul-01-2015 Shenzhen Sea Star Technology Co., Ltd. Shanghai Shunwei Advertising Co., Ltd. $33.3 $50.4 1.5x - Jul-01-2015 Pinnacle Computing Ltd. Sicon Limited, Sage Business ---- Jul-01-2015 Helpling GmbH Teddle Limited - $35.5 - - Jul-01-2015 Level 3 Communications, Inc. (NYSE:LVLT) The IRC Company, Inc. ---- Jul-01-2015 Technia AB Transcat PLM GmbH $52.6 $18.4 0.4x 6.9x Jul-01-2015 Spatial Media LLC UAV Business and Technology Report ---- Jul-01-2015 Global Eagle Entertainment Inc. (NasdaqCM:ENT) Western Outdoor Interactive Pvt. Ltd. - $39.3 - - Jul-01-2015 PayPal, Inc. Xoom Corporation (NasdaqGS:XOOM) $174.1 $866.9 5.0x 123.2x Jul-02-2015 Harris School Solutions CrossPointe, LLC ---- Jul-02-2015 Linkfluence SAS Die Medialysten GmbH ---- Jul-02-2015 Text 100 Limited IncrediBull World Limited $3.8 $2.5 0.7x - Jul-02-2015 Vitec Software Group AB (OM:VIT B) Infoeasy AS $2.7 $1.9 - - Jul-02-2015 ACCEO Solutions Inc. Julo LLC ---- Jul-02-2015 Appriss Inc. Pharmitas, Inc. $5.0 - - - Jul-02-2015 Claranet Limited RedeVF Lda. ---- Jul-02-2015 HR Path, SAS SAGES Software SA ---- Jul-02-2015 Fat Media Ltd. Strategy Digital ---- Jul-02-2015 Sober Media Group, LLC Taj Media, LLC - $5.5 - - Jul-02-2015 Velocity Frequent Flyer Pty Ltd Torque Solutions (Australia) Pty Ltd ---- Jul-02-2015 Euronet Worldwide, Inc. (NasdaqGS:EEFT) XE.com Inc. $10.0 - - - Jul-03-2015 Yahoo Japan Corporation (TSE:4689) Dynatech Inc. - $16.3 - - Jul-03-2015 OlsenMetrix Marketing Metrix Marketing Communications Limited ---- Jul-03-2015 Wireless Logic Group Ltd. SimService A/S ---- Jul-06-2015 Global Health Ltd. (ASX:GLH) Abaki Pty Ltd - $0.4 - - Jul-06-2015 Converteo S.A. Adversitement France ---- Jul-06-2015 Pelephone Communications LTD. Alon Cellular Ltd. ---- Jul-06-2015 Digital Pacific Pty Ltd Crucial Paradigm Pty Ltd. ---- Jul-06-2015 Eagle Financial Publications DividendInvestor.com ---- Jul-06-2015 Coupa Software Incorporated InvoiceSmash Pty. Ltd. ---- Jul-06-2015 SiteCompli, LLC KWG, Inc. ---- Jul-06-2015 Manifest Digital, Inc. McMurry/TMG, LLC ---- Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved Select July 2015 Software Industry M&A Transactions Target TTM Enterprise Date Revenue Value EV/ EV/ Announced Acquirer Target ($mm) ($mm) Revenue EBITDA Jul-06-2015 gamigo AG mobile business engine GmbH $1.7 - - - Jul-06-2015 Future PLC (LSE:FUTR) Net Communities Ltd. ---- Jul-06-2015 CustomerMatrix, Inc. Noopsis SAS ---- Jul-06-2015 Netapsys Conseil SAS Open Resources S.a.r.l. $0.9 - - - Jul-06-2015 kyu Sid Lee, Inc. ---- Jul-07-2015 Telecom Italia Digital Solutions S.p.A. Alfabook S.r.l. ---- Jul-07-2015 Mitratech Holdings, Inc. Bridgeway Software, Inc. ---- Jul-07-2015 Greatist Inc.
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