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Sectorwatch: IT Security January 2019 IT Security January 2019 Sector Dashboard [4]

Public Basket Performance [5]

Operational Metrics [7]

Valuation Comparison [10]

Recent Deals [13]

Appendix [15]

7 Mile Advisors appreciates the opportunity to present this confidential information to the Company. This document is meant to be delivered only in conjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. All data cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated as confidential and for the use of the intended recipient only. Please notify 7 Mile Advisors if it was distributed in error. 2 Overview

7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. We publish our sectorwatch, a review of M&A and operational trends in the industries we focus.

Dashboard Valuation Comparison • Summary metrics on the sector • Graphical, detailed comparison of valuation • Commentary on market momentum by multiples for the public basket comparing the most recent 12-month performance against the last 3-year averages.

Public Basket Performance Recent Deals • Summary valuation and operating metrics • The most recently announced deals in the for a basket of comparable public companies sector

3 Dashboard

Operating Metrics Revenue Growth 1 - year revenue growth compared to revenue growth Median LTM GP Margin % 78.2% -0.13 average for last 3 years Current revenue growth rate is less than the average of the last 3 years, indicating that the market may be flattening or declining Median LTM EBITDA Margin % 19.1%

Pricing / Gross Margin Median LTM Rev. Growth % 7.8% 1 - year gross profit % compared to gross profit % -2.1% average for last 3 years 0% 20% 40% 60% 80% Current gross profit margin is less than the average of the last 3 years gross profit margins, indicating customer pricing power Valuation

Profitability Momentum Median Price / LTM Earnings 21.2x 1 - year EBITDA % compared to EBITDA % average for 0.8% last 3 years Median TEV / LTM EBIT 20.5x Current EBITDA margin exceeds the average of the last 3 years EBITDA margin by this amount, a condition that may attract new entrants Median TEV / LTM EBITDA 15.9x

Median TEV / LTM Revenue 4.6x

0x 5x 10x 15x 20x 25x

4 Public Basket

Rev TEV / LTM Growth EBITDA TEV / EBITDA Rev / Company TEV $m Rev $m YoY GP % % Rev X X # FTEs FTE $k

Bluedon Information Security Technologies Co.,Ltd. 1,354 309 -3% 61% 36% 4.3 12.0 2,798 110 SecureWorks Corp. 1,362 509 9% 51% -6% 2.7 0.0 2,555 199 CyberArk Software Ltd. 2,504 315 28% 85% 13% 8.0 60.3 1,015 310 FireEye, Inc. 3,280 791 4% 66% -16% 4.1 0.0 2,960 267 Trend Micro Incorporated 6,715 1,401 8% 80% 32% 4.6 14.2 5,970 235 , Inc. 10,903 1,711 19% 75% 14% 6.4 44.5 5,066 338 Software Technologies Ltd. 15,099 1,916 3% 90% 49% 8.0 15.9 - NA Symantec Corporation 15,624 4,752 0% 78% 21% 3.3 17.8 11,830 402 Red Hat, Inc. 29,788 3,255 17% 85% 19% 9.2 48.0 11,870 274

Average 9,625 1,662 10% 75% 18% 5.6 23.6 4,896 267 Median 6,715 1,401 8% 78% 19% 4.6 15.9 2,960 271 share price as of 26Jan19

5 Public Basket Valuation Trends

45x Public EBITDA Multiples over Time

40x 50x 40x 30x 35x 20x 10x

30x 0x

Jul-14 Jul-15 Jul-16 Jul-17 Jul-18

Jan-18 Jan-15 Jan-16 Jan-17 Jan-19

Oct-15 Oct-16 Oct-17 Oct-18

30.0x Oct-14

Apr-15 Apr-16 Apr-17 Apr-18 25x Apr-14

TEV/EBITDA - Median TEV/EBITDA - Average 20x Public Revenue Multiples over Time 15x 10x 8x 10x 6.1x 6x 4x 5x 2x 0x

0x

Jul-14 Jul-15 Jul-16 Jul-17 Jul-18

Jan-18 Jan-15 Jan-16 Jan-17 Jan-19

Oct-15 Oct-14 Oct-16 Oct-17 Oct-18

Apr-14 Apr-15 Apr-16 Apr-17 Apr-18

Jul-14 Jul-15 Jul-16 Jul-17 Jul-18

Jan-16 Jan-17 Jan-18 Jan-19

Jan-15 TEV/Revenue - Median TEV/Revenue - Average

Oct-14 Oct-15 Oct-16 Oct-17 Oct-18

Apr-14 Apr-15 Apr-16 Apr-17 Apr-18

TEV/EBITDA - Median TEV/Revenue - Median TEV/EBITDA - Average TEV/Revenue - Average

6 Operational Metrics

LTM Gross Profit Margin % LTM EBITDA %

Check Point Software Check Point Software Technologies Ltd. Technologies Ltd.

Bluedon Information Red Hat, Inc. Security Technologies Co.,Ltd.

CyberArk Software Ltd. Trend Micro Incorporated

Trend Micro Incorporated Symantec Corporation

Symantec Corporation Red Hat, Inc.

Fortinet, Inc. Fortinet, Inc.

FireEye, Inc. CyberArk Software Ltd.

Bluedon Information Security Technologies SecureWorks Corp. Co.,Ltd.

SecureWorks Corp. FireEye, Inc.

Median Median

- 20% 40% 60% 80% 100% (20%) - 20% 40% 60%

7 Operational Metrics

LTM Revenue per LTM Revenue Growth % Full Time Employee x 000’s

CyberArk Software Ltd. Symantec Corporation

Fortinet, Inc. Fortinet, Inc.

Red Hat, Inc. CyberArk Software Ltd.

SecureWorks Corp. Red Hat, Inc.

Trend Micro Incorporated

FireEye, Inc.

FireEye, Inc.

Trend Micro Incorporated Check Point Software Technologies Ltd.

SecureWorks Corp. Symantec Corporation

Bluedon Information Bluedon Information Security Technologies Security Technologies Co.,Ltd. Co.,Ltd.

Median Median

(10%) - 10% 20% 30% $- $100 $200 $300 $400 $500

8 Operational Metrics

Average Days Accounts Receivable Turnover Sales Outstanding

Bluedon Information CyberArk Software Ltd. Security Technologies Co.,Ltd.

Symantec Corporation SecureWorks Corp.

FireEye, Inc. Check Point Software Technologies Ltd.

Fortinet, Inc. Trend Micro Incorporated

Red Hat, Inc. Red Hat, Inc.

Trend Micro Incorporated Fortinet, Inc.

Check Point Software Technologies Ltd. FireEye, Inc.

SecureWorks Corp. Symantec Corporation

Bluedon Information Security Technologies CyberArk Software Ltd. Co.,Ltd.

Median Median

0x 2x 4x 6x 8x 10x 0 100 200 300 400 500

9 Valuation

TEV / LTM Revenue TEV / LTM EBITDA

Check Point Software Technologies Ltd. Fortinet, Inc.

Fortinet, Inc. Symantec Corporation

Trend Micro Incorporated Check Point Software Bluedon Information Technologies Ltd. Security Technologies Co.,Ltd. Trend Micro Incorporated FireEye, Inc. Bluedon Information Security Symantec Corporation Technologies…

SecureWorks Corp. SecureWorks Corp.

FireEye, Inc. SecureWorks Corp.

Median Median

0x 2x 4x 6x 8x 10x 0x 20x 40x 60x 80x

10 Valuation

TEV / LTM EBIT Price / LTM Earnings

CyberArk Software Red Hat, Inc. Ltd.

Red Hat, Inc. CyberArk Software Ltd.

Fortinet, Inc. Fortinet, Inc.

Symantec Trend Micro Incorporated Corporation

Trend Micro Check Point Software Incorporated Technologies Ltd.

Check Point Bluedon Information Software Security Technologies Technologies Ltd. Co.,Ltd.

Bluedon Information Symantec Corporation Security…

Median Median

0x 20x 40x 60x 80x 0x 30x 60x 90x 120x

11 Valuation

Historical Valuation Multiples Historical Valuation Multiples versus Gross Profit versus Revenue Growth Rate

70x 30% 70x 100% 28.0% 89.6% 85.3% 85.1% 90% 80.3% 60x 25% 60x 78.2% 80% 18.7% 50x 20% 50x 75.0% 70%

60% 40x 17.2% 15% 40x 60.8% 50% 30x 7.8% 10% 30x 40% 3.3% 20x 5% 20x 30% (3.0%) 20% 10x 0% 10x 0.3% 10% 12x 14x 16x 18x 44x 48x 60x

12x 14x 16x 18x 44x 48x 60x

LTM GP% LTM EBITDA(x) EBITDA(x) 0x -5%

0x 0% RGR% LTM

EBITDA(x) LTM GP% EBITDA(x) LTM RGR%

12 Recent Transactions Total Transaction Target TEV / TEV / Date Target Buyer / Investor Value Revenue Revenue EBITDA

31Dec18 procilon IT-Solutions GmbH Harald Quandt Industriebeteiligungen GmbH - - - - 4Dec18 Global Cloud Infrastructure Business of Neverfail Online Tech, LLC - - - - 4Dec18 Firstline Security Systems, Inc. Convergint Technologies LLC - - - - 14Nov18 Bio Nicsgene Co.,Ltd. G-Smatt Global Co., Ltd. 4.23 12.39 8.2x NM 5Nov18 Appthority, Inc. Symantec Corporation - - - - 24Oct18 Dome9 Security Ltd. Check Point Software Technologies Ltd. - - - - 23Oct18 Zonefox Limited Fortinet, Inc. 18.00 - - - 11Oct18 RedSocks Security B.V. , LLC - - - - 10Oct18 Imperva, Inc. Thoma Bravo, LLC 2,119.12 351.76 5.2x NM 2Oct18 RedLock, Inc. Palo Alto Networks, Inc. 173.00 - - - 2Oct18 eVigilant, Inc. Converged Security Solutions - - - - 6Sep18 Trusted Source Pte. Ltd. (nka:Infosys Compaz Pte. Ltd.) Infosys Consulting Pte Ltd - - - - 20Aug18 Shift F7 Group Limited AdEPT Telecom plc 10.08 6.38 1.6x 11.3x 20Aug18 Convergent Network Solutions Limited Six Degrees Technology Group Ltd - 8.93 - - 11Jul18 Azimuth Security / Linchpin Labs L3 Technologies, Inc. 231.44 - - - 11Jul18 CA, Inc. Broadcom Inc. 21,776.02 4,148.00 4.4x 16.4x 11Jul18 Thrive CITS, LLC InfoHedge Technologies LLC - - - - 10Jul18 AlienVault, Inc. AT&T Communications Americas, Inc. - - - - 27Jun18 Hönigsberg & Düvel Datentechnik GmbH HCL Technologies Limited 34.78 85.90 0.4x - 25Jun18 TekLinks Incorporated Cellular South, Inc. - - - - 18Jun18 ITC Cyber Advisors/ITC Managed Security Services ITC Global Security Ltd. - - - - 14Jun18 Carvir LLC Continuum Managed Services, LLC - - - - 11Jun18 Agenci Ltd Cyberfort Group Limited - - - -

7Jun18 Nextel S.A. Grupo S21sec Gestión, S.A. - - - -

7Jun18 Leidos Cyber, Inc. Capgemini SE - - - - 6Jun18 GoSecure, Inc. CounterTack, Inc. - - - - 22May18 TrustWave Holdings, Inc. Singapore Telecommunications Limited 12.00 - - -

21May18 Haystax Technology, Inc. Fishtech Group, LLC - - - -

13 IT Security January 2019 APPENDIX:

Public Basket

Constituents

7 Mile Advisors appreciates the opportunity to present this confidential information to the Company. This document is meant to be delivered only in conjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. All data cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated as confidential and for the use of the intended recipient only. Please notify 7 Mile Advisors if it was distributed in error. 14 Revenue Multiples - Bluedon Information 40x Security Technologies Co.,Ltd.

Public Basket 30x

20x

10x Bluedon Information Security Technologies Co.,Ltd 0x Bluedon Information Security Technologies Co.,Ltd provides information security solutions in China. It offers intrusion prevention system to monitor network transmission in real-time, TEV/Revenue Average detect attacks automatically, and analyze the intrusion from the external and internal network; and Intrusion Detection System EBITDA Multiples - Bluedon Information for monitoring the network transmission in real time, detecting 300x Security Technologies Co.,Ltd. suspicious behaviors, and analyzing the intrusion from both 200x extranet and Intranet. The company also provides Mobile Security, an intelligently mobile terminal security software; 100x unidirectional information exchange system; security gateway; IoT application control system; vulnerability scanning system; 0x VPN; anti-virus ; unified threat management; and flow control system. Bluedon Information Security Technologies Co.,Ltd is based in Guangzhou, China. TEV/EBITDA Average

P/E Multiples - Bluedon Information Security 300x Technologies Co.,Ltd.

200x

100x

0x

P/E Average

15 Revenue Multiples - SecureWorks Corp. 4x

Public Basket 3x

2x

1x

SecureWorks Corp. 0x SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company’s TEV/Revenue Average solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats. The company serves clients in a range of industries, including the financial, manufacturing, technology, retail, insurance, utility, and healthcare sectors. As of February 2, 2018, it served approximately 4,400 clients across 59 countries. The company was formerly known as SecureWorks Holding Corporation and changed its name to SecureWorks Corp. in November 2015. The company was founded in 1999 and is headquartered in Atlanta, Georgia. SecureWorks Corp. is a subsidiary of Dell Inc.

16 Revenue Multiples - CyberArk Software Ltd. 20x Public Basket 16x 12x 8x 4x CyberArk Software Ltd. 0x CyberArk Software Ltd. develops, markets, and sells software- based security solutions that protect organizations from cyber attacks in the United States and internationally. The company TEV/Revenue Average offers privileged account security solution to secure, manage, and monitor account access and activities. Its privileged account EBITDA Multiples - CyberArk Software Ltd. 120x security solution consists of Enterprise Password Vault that prevents user passwords and SSH keys; Privileged Session 90x Manager that protects windows based systems, databases, 60x virtual machines, network devices, Web sites, and SaaS 30x applications; and Privileged Threat Analytics that enables to detect, alert, and respond to anomalous privileged activity. The 0x company also provides Application Identity Manager, provides solutions for hard-coded passwords and embedded application credentials; Conjur, a secrets management solution integrates TEV/EBITDA Average with the DevOps toolchain, as well as secures and manages secrets used by CI/CD tools such as Ansible, Chef, Jenkins and P/E Multiples - CyberArk Software Ltd. Puppet, and orchestration software. The company was founded 300x in 1999 and is headquartered in Petach Tikva, Israel. 200x

100x Date Key Development Headline 3/6/18 CyberArk Software Ltd. (NasdaqGS:CYBR) acquired all assets of 0x Vaultive, Inc.

P/E Average

17 Revenue Multiples - FireEye, Inc. 60x Public Basket 45x 30x

15x

FireEye, Inc. 0x FireEye, Inc. provides cybersecurity solutions that allow organizations to prepare for, prevent, respond to, and remediate cyber-attacks. It offers vector-specific appliance, TEV/Revenue Average virtual appliance, and cloud-based solutions to detect and block known and unknown cyber-attacks. The company provides threat detection and prevention solutions, including network security products, email security solutions, and endpoint security solutions. It also offers security management and orchestration products, such as Central Management System, FireEye Security Orchestrator, and FireEye Helix platform; and forensics and investigation products, such as Threat Analytics Platform and Enterprise Forensics series of appliances. In addition, the company provides Security-as-a-Service solutions comprising cloud-based Email Threat Prevention solution and managed Defense/FireEye-as-a-Service offering; threat intelligence subscriptions, such as Dynamic Threat Intelligence cloud and FireEye iSIGHT Intelligence; and customer support and maintenance services. FireEye, Inc. was founded in 2004 and is headquartered in Milpitas, California.

Date Key Development Headline 5/21/18 FireEye May Use Proceeds From Offering For Potential Acquisitions 1/11/18 FireEye, Inc. (NasdaqGS:FEYE) acquired X15 Software, Inc. for $20 million.

18 Revenue Multiples - Trend Micro 10x Incorporated Public Basket 8x 6x 4x 2x Trend Micro Incorporated 0x Trend Micro Incorporated develops and sells security solutions primarily in . The company offers hybrid cloud security solutions, such as data center, cloud, and security TEV/Revenue Average products; network security solutions, including integrated advanced threat prevention and advanced threat detection EBITDA Multiples - Trend Micro Incorporated 20x solutions; user protection solutions comprising endpoint and gateway suites, endpoint security, email security, Web security, 15x SaaS application security, and endpoint detection and response; 10x and support services. It serves finance, insurance, and retail industries, as well as government institutions. The company was 5x founded in 1988 and is headquartered in , Japan. 0x

Date Key Development Headline TEV/EBITDA Average 11/15/18 Trend Micro Incorporated and Moxa Inc. Announces Execution of Letter of Intent to Form Joint-Venture Corporation—TXone P/E Multiples - Trend Micro Incorporated Networks 60x 10/29/18 Trend Micro and NTT DOCOMO Collaborate to Provide New Solution for 5G Era 40x 2/13/18 and Trend Micro Partner to Develop Cyber Security Solution 20x 11/26/17 Trend Micro Incorporated (TSE:4704) acquired IMMUN.IO Inc.

0x

P/E Average

19 Revenue Multiples - Fortinet, Inc. 10x Public Basket 8x 6x 4x 2x Fortinet, Inc. 0x Fortinet, Inc. provides broad, automated, and integrated cybersecurity solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and TEV/Revenue Average networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web EBITDA Multiples - Fortinet, Inc. 150x filtering, anti-spam, and WAN acceleration; and FortiSandbox technology that delivers proactive detection and mitigation 120x services; and FortiSIEM family of products, which offers a cloud- 90x ready security information and event management solution for 60x enterprises and service providers. The company also provides 30x FortiSwitch product family that offers secure switching solutions 0x for connecting customers end devices, such as computers and laptops, as well as an expanding field of Internet of Things devices; and Fortinet Management and Analysis products TEV/EBITDA Average consisting of FortiManager and FortiAnalyzer hardware and software products. Fortinet, Inc. was founded in 2000 and is P/E Multiples - Fortinet, Inc. headquartered in Sunnyvale, California. 400x 300x

Date Key Development Headline 200x 11/1/18 Fortinet Intends To Seek Acquisitions 100x 10/22/18 Fortinet, Inc. (NasdaqGS:FTNT) acquired Zonefox Limited for approximately $18 million. 0x 8/7/18 Fortinet Signs Cyber Threat Information Sharing Agreement with IBM 6/3/18 Fortinet, Inc. (NasdaqGS:FTNT) acquired Bradford Networks, Inc. 2/13/18 Fortinet Mulls Acquisitions P/E Average

20 Revenue Multiples - Check Point Software 15x Technologies Ltd. Public Basket 12x 9x 6x 3x Check Point Software Technologies Ltd. 0x Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. It provides Check Point Infinity Architecture, a cyber TEV/Revenue Average security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and EBITDA Multiples - Check Point Software 30x mobile; security gateways from platforms for small business and Technologies Ltd.

small office locations, high end and high demanding data 20x centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day 10x protections. The company also offers Check Point CloudGuard cloud security product that delivers threat prevention security 0x for enterprise cloud networks, data, and applications; Check Point SandBlast Mobile for mobile security in iOS and Android

devices. Check Point Software Technologies Ltd. was founded TEV/EBITDA Average in 1993 and is headquartered in Tel Aviv, Israel. P/E Multiples - Check Point Software 40x Date Key Development Headline Technologies Ltd. 1/13/19 Check Point Software Technologies Ltd. (NasdaqGS:CHKP) 30x acquired ForceNock Security Ltd. 20x 10/23/18 Check Point Software Technologies Ltd. (NasdaqGS:CHKP) completed the acquisition of Dome9 Security Ltd.. 10x 4/25/18 Check Point Software Seeks Acquisitions 2/5/18 Orange Cyberdefense and Check Point Software Technologies 0x Team Up to Deliver New Orange Service Called Mobile Threat Protection

P/E Average

21 Revenue Multiples - Symantec Corporation 8x Public Basket 6x 4x

2x Symantec Corporation 0x Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The TEV/Revenue Average Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop EBITDA Multiples - Symantec Corporation 40x and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, 30x families, and small businesses. This segment also offers 20x LifeLock-branded identity protection services, such as identifying and notifying users of identity-related and other 10x events, and assisting users in remediating their impact; and 0x digital safety platform designed to protect information across devices, customer identities, and the connected homes and families. Symantec Corporation was founded in 1982 and is TEV/EBITDA Average headquartered in Mountain View, California. P/E Multiples - Symantec Corporation 30x Date Key Development Headline 12/19/18 Ernst & Young LLP Announces a Strategic Alliance with 20x Symantec Corp 12/12/18 Cymulate and Symantec Announce Shared Research of Email- 10x Based Attacks 11/4/18 Symantec Corporation (NasdaqGS:SYMC) acquired Appthority, 0x Inc. 11/4/18 Symantec Corporation (NasdaqGS:SYMC) acquired Javelin Networks. 5/10/18 Symantec Eyes Acquisitions P/E Average

22 Revenue Multiples - Red Hat, Inc. 10x Public Basket 8x 6x 4x 2x Red Hat, Inc. 0x Red Hat, Inc. provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage TEV/Revenue Average technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise EBITDA Multiples - Red Hat, Inc. Linux, an operating system platform that runs on hardware for 50x use in hybrid cloud environments; Red Hat Satellite, a system 40x management offering that helps to deploy, scale, and manage 30x in hybrid cloud environments; and Red Hat Enterprise 20x Virtualization, a software solution that allows customers to 10x utilize and manage a common hardware infrastructure to run 0x multiple operating systems and applications. Red Hat, Inc. was founded in 1993 and is headquartered in Raleigh, North Carolina. TEV/EBITDA Average

Date Key Development Headline P/E Multiples - Red Hat, Inc. 12/18/18 Tata Consultancy Services Extends Collaboration with Red Hat to 120x Build Microservices-Based Open Source Solutions and Frameworks 90x 11/26/18 Red Hat, Inc. (NYSE:RHT) acquired NooBaa Inc., from OurCrowd 60x Ltd., Jerusalem Venture Partners and others. 10/29/18 International Business Machines Corporation, Red Hat, Inc. - 30x M&A Call 0x 10/27/18 International Business Machines Corporation (NYSE:IBM) entered entered into a definitive agreement to acquire Red Hat, Inc. (NYSE:RHT) from BlackRock, Inc. (NYSE:BLK), The Vanguard Group, Inc., Prudential Financial, Inc. (NYSE:PRU), T. Rowe Price P/E Average Price Associates, Inc., FMR LLC and others for $34.6 billion.

23 CONTACT INFO

7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions and provide market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. Securities offered through 7M Securities LLC.

Leroy Davis, Partner 704.899.5962 [email protected] Tripp Davis, Partner 704.899.5762 [email protected] Andy Johnston, Partner 704.899.5961 [email protected] Ben Lunka, Managing Director 704.496.2995 [email protected] Jeff Stoecklein, Managing Director 312.796.9330 [email protected] Mark Landry, Managing Director 561.972.0609 [email protected] Kristina Sergueeva, Director 704.899.5149 [email protected] Neil Churman, Director 281.742.9340 [email protected] John Cooper, Director 704.973.3996 [email protected] Tim Frye, Director 704.973.3994 [email protected] Nicholas Prendergast, Financial Analyst 704.973.3995 [email protected] Ariail Siggins, Marketing Director 704.981.2908 [email protected] Sydney Larese, Associate 704.973.3998 [email protected] Marty Johnson, Associate 704.973.3999 [email protected] Rory Julyan, Associate 704.981.2520 [email protected] Garth Martin, Associate 704.973.3997 [email protected] Dennis Fox, Associate 704.706.9168 x 119 [email protected] Steve Buffington, Associate 704.960.1828 [email protected]

24