Software Equity Group Flash Report
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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 Alarm.com Holdings, Inc. ALRM SaaS Vertically Focused AppFolio, Inc. APPFSaaS Vertically Focused MINDBODY, Inc. MBSaaS Other SaaS Xactly Corporation XTLY SaaS Human Capital Management Removals Company Ticker Previous Index Previous Category AOL, Inc. Ad-Tech - Internet Acquired by Verizon Communications, Inc. ($4.8B) Content and Media Borderfree, Inc. - Internet Commerce Acquired by Pitney Bowes International Holdings ($464.8M) Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved Table of Contents Select Software Industry M&A Transactions SEG Software Index SEG SaaS Index SEG Internet Index Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved Select Software Industry M&A Transactions SEG Software Index SEG SaaS Index SEG Internet Index Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved Select June 2015 Software Industry M&A Transactions Target TTM Enterprise Date Revenue Value EV/ EV/ Announced Acquirer Target ($mm) ($mm) Revenue EBITDA Jun-01-2015 KAR Auction Services, Inc. (NYSE:KAR) Autoniq, LLC ---- Jun-01-2015 - Avanquest UK - $4.4 - - Jun-01-2015 Castleton Technology plc (AIM:CTP) Brixx Solutions Ltd. - $7.6 - - Jun-01-2015 space150, LLC Cinram 1K Studios, LLC ---- Jun-01-2015 FAYN Telecommunications s.r.o. City Mobile, 1000 Customers ---- Jun-01-2015 Link Mobility Group ASA (OB:LINK) Cool Group ApS $6.3 $10.7 1.7x 5.6x Jun-01-2015 Elevator Agency, Inc. Copper Blue Creative, Inc. ---- Jun-01-2015 AVEVA Group plc (LSE:AVV) FabTrol Systems, Inc. - $6.5 - - Jun-01-2015 Raizlabs Corporation Find & Form LLC ---- Jun-01-2015 ITM|TwentyFirst LLC Insurance Trust Monitor, Inc. and InsuranceIQ ---- Jun-01-2015 Adobe Systems Incorporated (NasdaqGS:ADBE) Mixamo, Inc. ---- Jun-01-2015 KAR Auction Services, Inc. (NYSE:KAR) MobileTrac, LLC ---- Jun-01-2015 123 Venture; Capzanine; Raise Investissement, SAS Questel S.A. $25.1 - - - Jun-01-2015 SoyDigital Network, S.L.U. Samelan Soluciones Tecnológicas S.L., Vcentral ---- Jun-01-2015 Grupo Minha Vida TecnoNutri ---- Jun-01-2015 Mitel Networks Corporation (NasdaqGS:MITL) TigerTMS Ltd. ---- Jun-02-2015 Microsoft Corporation (NasdaqGS:MSFT) 6 Wunderkinder GmbH ---- Jun-02-2015 Horry Telephone Cooperative, Inc.; Golden West Telecommunications CoopAPH Inc. ---- Jun-02-2015 Active Interest Media, Inc. Catalyst Communication Inc., Select Assets Including Outdoor Guide ---- Jun-02-2015 kyu Digital Kitchen, LLC ---- Jun-02-2015 Avalara, Inc. EZtax, Inc. ---- Jun-02-2015 Innovativ Media Group, Inc. Global Gaming Network, Inc. (OTCPK:GBGM) ---- Jun-02-2015 RealPage, Inc. (NasdaqGS:RP) Indatus ICIM Corp., Select Assets - $49.0 - - Jun-02-2015 Markit Ltd. (NasdaqGS:MRKT) Information Mosaic Holdings Ltd. ---- Jun-02-2015 West Corporation (NasdaqGS:WSTC) Intrafinity Inc. - $19.0 - - Jun-02-2015 iProspect, Inc. Marketing Wizards Sp. z o.o. $2.4 - - - Jun-02-2015 CBOE Holdings, Inc. (NasdaqGS:CBOE) Maxima Analytics, Inc., Market Data Services and Trading Analytics Platforms ---- Jun-02-2015 Markinson Business Solutions Pty Ltd. Megabus Pty Ltd ---- Jun-02-2015 Sprinklr Inc. newBrandAnalytics, Inc. ---- Jun-02-2015 HCA Holdings, Inc. (NYSE:HCA) Pacific Partners Management Services, Inc. ---- Jun-02-2015 GameFly, Inc. Playcast Media Systems Ltd. ---- Jun-02-2015 News Distribution Network, Inc. Reverb Technologies, Inc. ---- Jun-02-2015 Teneology, Inc. Serious Eats and Roadfood ---- Jun-02-2015 Beijing Ultrapower Software Co., LTD (SZSE:300002) Shenzhou Xiangsheng Software $9.1 $48.4 5.3x - Jun-02-2015 HelpSystems, LLC SkyView Partners Inc. ---- Jun-02-2015 Motorsport.com, Inc. Totalrace.com.br ---- Jun-02-2015 Zuken Inc. (TSE:6947) YDC Corporation, CADVANCE Business ---- Jun-03-2015 Presstalis SAS ADthletic Média ---- Jun-03-2015 Advantage Sales & Marketing LLC ATLAS Technology Group, Inc. ---- Jun-03-2015 International Business Machines Corporation (NYSE:IBM) Blue Box Group, Inc. ---- Jun-03-2015 UBM Brazil Hospitalar Feiras, Congressos e Empreendimentos Ltda. ---- Jun-03-2015 VKontakte Ltd. ICVA Ltd. ---- Jun-03-2015 Minicabster Ltd Locar Limited ---- Jun-03-2015 Blue 449 Match Media Australia Pty Limited $170.2 - - - Jun-03-2015 Casers Ltd. Mawal Group ---- Jun-03-2015 GI Partners, LLC MRI Software LLC ---- Jun-03-2015 Insurance Technologies Corporation Multico Rating Systems Inc. ---- Jun-03-2015 Shopventory, Inc. Otterology, LLC ---- Jun-03-2015 Up Group Planvale ---- Jun-03-2015 Pearson VUE, Inc. ProctorCam, Inc. ---- Jun-03-2015 BlockTrail BV SendChat, Inc. ---- Copyright © 2015 by Software Equity Group, L.L.C., All Rights Reserved