100

80 Financial 79 60 24% 40 29 29 46 13 31 20 24 32 12 12 - Strategic - 76%

Amo unt ($ TE V/ TE V/ Date Target B uyer(s) Segment in Mil) R ev EBITDA 6/22/2017 EnerNOC, Inc. Enel Green Power North America, Inc. Enterprise 281.24 0.71x -76.01x 6/14/2017 Rightside Group Ltd. Donuts, Inc. Other SaaS 121.47 5.67x -7.60x 6/5/2017 Covisint Corp. Open Text Corp. Infrastructure/Hosting 66.89 0.95x -12.14x 6/2/2017 Sage Payment Solutions, Inc. GTCR LLC Financial Technology 260.00 1.55x - 5/30/2017 Xactly Corp. Vista Equity Partners M anagement Financial Technology 471.50 4.87x -38.51x 5/23/2017 Grindr LLC BeijingLLC Kunlun Tech Co., Ltd. Other SaaS 395.11 26.50x - 5/16/2017 Rimini Street, Inc. GP Investments Acquisition Corp. Enterprise Software 636.09 5.35x - 5/1/2017 Angie's List, Inc. IAC/InterActiveCorp. Healthcare IT 525.76 1.68x 28.35x 5/1/2017 Jive Software, Inc. Wave Systems Corp. Enterprise Software 300.04 1.47x 36.58x 4/3/2017 Telvent DTN, LLC TBG AG Supply Chain Software 900.00 4.23x - Strategic Buyer Inv. Date Select Corporate Acquisitions Accenture plc (NYSE:ACN) 06/07/2017 ▪ Phase One Consulting Group, Inc. 06/02/2017 ▪ SolutionsIQ, Inc. 05/15/2017 ▪ Media Hive LLC 09/26/2016 ▪ DayNine Consulting, Inc. Alphabet Inc. (NasdaqGS:GOOGL) 03/08/2017 ▪ , Inc. 01/18/2017 ▪ Fabric 12/13/2016 ▪ Cronologics Corp. 11/21/2016 ▪ Qwiklabs, Inc. 10/25/2016 ▪ Eyefluence, Inc. 09/08/2016 ▪ Corporation (NasdaqGS:APIC) 08/08/2016 ▪ Inc. 07/12/2016 ▪ FortyTwo Inc. 07/07/2016 ▪ Anvato Inc. Cisco Systems, Inc. (NasdaqGS:CSCO) 05/11/2017 ▪ MindMeld, Inc. 05/01/2017 ▪ Viptela, Inc. 10/17/2016 ▪ Heroik Labs, Inc. 08/30/2016 ▪ ContainerX, Inc. Oracle Corporation (NYSE:ORCL) 04/18/2017 ▪ Oracle Corp. 01/19/2017 ▪ Apiary, Inc. 11/21/2016 ▪ Dynamic Network Services, Inc. 09/18/2016 ▪ Palerra, Inc. 09/06/2016 ▪ LogFire, Inc Salesforce.com, inc. (NYSE:CRM) 12/13/2016 ▪ Twin Prime, Inc. 11/01/2016 ▪ Krux Digital, Inc. 10/03/2016 ▪ Krux Digital, Inc. 09/07/2016 ▪ HeyWire, Inc. 08/15/2016 ▪ BeyondCore, Inc.

Financial Buyer Inv. Date Select Corporate Investments Insight Venture Management LLC 06/20/2017 ▪ OptionsCity Software, Inc. 05/24/2017 ▪ Resolve Systems LLC 05/09/2017 ▪ Zyme Solutions, Inc. 02/13/2017 ▪ Steelwedge Software, Inc. 11/08/2016 ▪ Cyber Algorithms 10/31/2016 ▪ Ministry Brands LLC KKR & Co. LP 03/20/2017 ▪ Communication Cable Co. 02/16/2017 ▪ RedTail Solutions, Inc. 12/06/2016 ▪ Optiv Security, Inc. 11/17/2016 ▪ Latitude Technologies LLC 08/29/2016 ▪ Calabrio, Inc. 07/05/2016 ▪ Epicor Software Corporation The Carlyle Group LP 12/21/2016 ▪ Veris Group LLC 10/21/2016 ▪ Kroll Ontrack, Inc. 10/17/2016 ▪ ProKarma, Inc. 10/06/2016 ▪ Reval Holdings, Inc. 08/15/2016 ▪ NetMotion Wireless, Inc. Thoma Bravo LLC 06/14/2017 ▪ Continuum Managed Services LLC 05/03/2017 ▪ Lexmark International, Inc. /Enterprise Software Business/ 02/16/2017 ▪ Data3Sixty, Inc. 01/19/2017 ▪ PlanView, Inc. 12/06/2016 ▪ Standardware, Inc. 09/29/2016 ▪ T2 Systems, Inc. 07/13/2016 ▪ Imprivata, Inc. (NYSE:IMPR) Vista Equity Partners 06/29/2017 ▪ Scoutit, Inc. 05/30/2017 ▪ Xactly Corp. 05/30/2017 ▪ Lithium Technologies, Inc. 05/15/2017 ▪ Quest Software, Inc. (Oklahoma) 04/26/2017 ▪ OmniEarth, Inc. 04/25/2017 ▪ RiskMatch LLC 04/19/2017 ▪ ToutApp, Inc.

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter 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 Oracle Corp. ORCL-US $ 207,413 $ 50.14 12.2% 30.4% 96.7% 4.5% 45.2% 5.3x 12.7x 5.2x 11.1x International Business Machines Corp. IBM-US 144,523 153.83 -11.5% -7.3% 84.2% (1.5%) 12.4% 2.2x 11.2x 2.3x 9.6x Adobe Systems, Inc. ADBE-US 69,787 141.44 9.1% 37.4% 95.9% 23.8% 32.5% 10.3x 31.8x 8.4x 20.3x Intuit, Inc. INTU-US 34,028 132.81 14.9% 15.9% 92.4% 8.7% 59.1% 6.5x 20.9x 6.0x 15.3x Constellation Software, Inc. CSU-CA 11,070 522.38 4.0% 11.2% 95.8% 15.0% 23.8% 4.9x 19.4x 4.3x 16.5x The Sage Group Plc SGE-GB 9,660 8.94 8.4% 5.0% 90.0% 5.4% 27.3% 4.7x 15.8x 4.3x 14.8x TOTVS SA TOTS3-BR 1,508 9.10 10.6% 25.5% 87.0% 5.5% 16.1% 2.4x 15.0x 2.3x 13.2x 8.8% 30.9% 5.2x 18.1x 4.7x 14.4x 5.5% 27.3% 4.9x 15.8x 4.3x 14.8x

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter 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 $ 211,234 $ 93.78 5.4% 20.2% 97.1% 14.2% 65.7% 13.6x 19.6x 12.4x 17.5x Mastercard, Inc. MA-US 127,999 121.45 7.8% 17.6% 96.2% 15.2% 60.0% 11.5x 19.8x 10.1x 17.4x American Express Co. AXP-US 75,292 84.24 6.4% 13.7% 98.7% (0.4%) 36.3% 3.0x 8.7x 3.0x NM Fidelity National Information Services, Inc. FIS-US 28,232 85.40 6.7% 12.9% 97.8% 3.5% 30.1% 4.0x 12.6x 3.9x 11.7x Fiserv, Inc. FISV-US 25,982 122.34 5.5% 15.1% 96.3% 6.6% 33.8% 5.4x 16.1x 5.2x 14.6x MSCI, Inc. MSCI-US 9,325 102.99 6.5% 30.7% 94.2% 10.1% 50.0% 9.1x 18.2x 8.4x 16.2x The Western Union Co. WU-US 8,977 19.05 -7.0% -12.3% 83.9% 1.0% 23.7% 2.1x 8.2x 2.1x 8.7x Jack Henry & Associates, Inc. JKHY-US 8,066 103.87 10.6% 17.0% 97.6% 7.1% 35.0% 5.7x 16.0x 5.3x 15.2x Black Knight Financial Services, Inc. BKFS-US 2,860 40.95 6.8% 8.3% 97.0% 8.9% 43.6% 5.2x 11.9x 7.7x 16.1x Envestnet, Inc. ENV-US 1,736 39.60 24.7% 12.3% 95.5% 17.1% 7.9% 3.3x 36.8x 2.8x 13.9x Q2 Holdings, Inc. QTWO-US 1,513 36.95 5.0% 28.1% 91.2% 36.4% (6.9%) 8.9x NM 6.5x 102.1x Bottomline Technologies, Inc. EPAY-US 1,040 25.69 8.9% 2.7% 90.6% 8.2% 10.9% 3.1x 34.5x 2.7x 12.2x 10.7% 32.5% 6.2x 18.4x 5.8x 22.3x 8.6% 34.4% 5.3x 16.1x 5.3x 15.2x

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter 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 $ 3,337 $ 48.06 -6.2% -9.4% 70.7% 5.5% 30.7% 5.4x 16.0x 5.2x 14.4x The Descartes Systems Group, Inc. DSG-CA 1,846 24.29 4.3% 10.2% 95.5% 15.6% 32.9% 8.4x 25.5x 7.3x 20.6x Kinaxis, Inc. KXS-CA 1,572 62.17 8.8% 29.2% 91.0% 31.2% 16.8% 11.6x 74.4x 9.2x 35.1x SPS Commerce, Inc. SPSC-US 1,096 63.76 10.2% -8.8% 85.2% 18.8% 12.1% 4.7x 44.7x 4.0x 26.8x American Software, Inc. AMSWA-US 278 10.29 -4.2% -0.4% 85.1% 4.3% NM 2.0x 14.1x 2.0x 11.9x 15.1% 23.1% 15.6% 23.7%

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter 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 $ 20,464 $ 56.94 -3.7% -6.5% 90.3% 5.6% 42.0% 6.4x 14.7x 6.1x 13.9x Workday, Inc. WDAY-US 12,717 97.00 15.9% 46.8% 92.6% 33.0% (5.9%) 10.8x NM 8.0x 52.9x The Ultimate Software Group, Inc. ULTI-US 6,242 210.06 8.0% 15.2% 93.1% 30.3% 4.9% 7.5x 95.5x 5.9x 24.0x Paycom Software, Inc. PAYC-US 4,065 68.41 19.6% 50.4% 92.9% 34.1% 35.9% 11.2x 48.3x 8.2x 29.0x Paylocity Holding Corp. PCTY-US 2,327 45.18 16.4% 50.5% 91.0% 30.6% 22.7% 7.8x 91.3x 6.3x 35.4x Cornerstone OnDemand, Inc. CSOD-US 2,031 35.75 -8.3% -15.5% 74.9% 19.1% (3.4%) 4.6x NM 3.8x 29.1x Benefitfocus, Inc. BNFT-US 1,128 36.35 33.9% 22.4% 80.8% 19.5% (1.0%) 4.9x NM 4.0x 50.8x Xactly Corp. XTLY-US 504 15.65 34.9% 42.3% 97.2% 26.5% (12.5%) 4.8x NM 3.8x NM 24.8% 10.3% 28.4% 2.0% Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter 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 $ 18,007 $ 106.00 21.9% 42.6% 95.8% 43.4% (4.1%) 11.7x NM 8.1x 34.7x Snap, Inc. SNAP-US 12,122 17.77 -20.1% NM 60.4% 182.2% (1471.0%) 34.4x NM 9.4x (23.4x) LogMeIn, Inc. LOGM-US 5,505 104.50 6.5% 8.2% 84.3% 144.3% 18.0% 11.8x 65.7x 4.0x 10.9x Guidewire Software, Inc. GWRE-US 5,111 68.71 22.1% 39.3% 97.7% 25.8% 1.2% 9.8x 184.9x 7.7x 37.6x Atlassian Corp. Plc TEAM-US 3,123 35.18 17.9% 46.1% 92.8% 41.1% (2.9%) 13.0x 3904.3x 9.1x 38.8x RealPage, Inc. RP-US 2,972 35.95 3.0% 19.8% 94.0% 18.1% 16.1% 5.0x 31.9x 4.1x 16.1x Zendesk, Inc. ZEN-US 2,749 27.78 0.8% 31.0% 87.2% 43.3% (20.7%) 7.4x NM 5.1x 124.0x Xero Ltd. XRO-NZ 2,543 18.45 30.6% 44.0% 96.6% 52.9% (1.9%) 11.3x NM 7.4x NM RingCentral, Inc. RNG-US 2,277 36.55 32.2% 77.4% 93.7% 35.2% (3.1%) 6.4x NM 4.7x 68.5x Alarm.com Holdings, Inc. ALRM-US 1,743 37.63 25.4% 35.2% 97.7% 26.8% 10.2% 6.3x 77.4x 5.3x 25.1x Ebix, Inc. EBIX-US 1,700 53.90 -11.6% -5.5% 82.8% 21.6% 36.6% 6.2x 16.7x 5.1x 15.5x Five9, Inc. FIVN-US 1,172 21.52 33.2% 51.7% 86.8% 22.6% (4.8%) 6.8x 709.3x 5.5x 76.2x MINDBODY, Inc. MB-US 1,071 27.20 -1.3% 27.7% 91.4% 36.2% (3.3%) 7.8x NM 5.1x 95.6x Instructure, Inc. INST-US 853 29.50 30.0% 50.9% 98.0% 43.5% (33.6%) 6.7x NM 4.6x NM Workiva, Inc. WK-US 582 19.05 22.5% 39.6% 94.5% 17.9% (9.8%) 4.0x NM 3.4x NM AppFolio, Inc. APPF-US 401 32.60 18.5% 36.7% 92.6% 36.5% 11.2% 9.4x 163.9x 7.1x NM Model N, Inc. MODN-US 383 13.30 30.4% 50.3% 95.9% 21.7% (32.2%) 3.3x NM 2.7x NM Castlight Health, Inc. CSLT-US 316 4.15 10.7% -16.2% 75.5% 41.3% (51.6%) 4.1x NM 2.2x NM 47.5% (85.9%) 36.3% (3.2%)

Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter 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 Adobe Systems, Inc. ADBE-US $ 69,787 $ 141.44 9.1% 37.4% 95.9% 23.8% 32.5% 10.3x 31.8x 8.4x 20.3x salesforce.com, inc. CRM-US 61,602 86.60 4.9% 26.5% 94.1% 25.3% 7.4% 6.9x 87.0x 5.4x 24.3x Criteo SA CRTO-US 2,987 49.05 -3.2% 19.4% 87.6% (45.3%) 8.0% 1.6x 16.5x 3.0x 9.3x HubSpot, Inc. HUBS-US 2,404 65.75 13.0% 39.9% 83.8% 37.3% (5.7%) 7.8x NM 5.6x 123.9x Callidus Software, Inc. CALD-US 1,570 24.20 16.9% 44.0% 97.4% 23.3% (2.8%) 6.4x NM 5.1x 39.2x Bazaarvoice, Inc. BV-US 417 4.95 13.8% 2.1% 80.7% 1.0% 2.9% 1.8x 93.0x 1.7x 15.1x ChannelAdvisor Corp. ECOM-US 304 11.55 3.6% -19.5% 72.6% 13.8% (22.3%) 2.1x NM 1.8x 27.0x 11.3% 2.9% 23.3% 2.9%

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap Quarter 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 $ 21,957 $ 66.47 12.3% 40.3% 95.9% 10.0% 30.1% 4.5x 14.7x 4.1x 12.4x Veeva Systems, Inc. VEEV-US 6,669 61.31 20.6% 50.6% 90.1% 24.1% 25.8% 13.7x 57.1x 11.9x 36.7x athenahealth, Inc. ATHN-US 5,599 140.55 25.0% 33.6% 94.0% 17.7% 13.5% 5.2x 32.0x 4.4x 19.5x Medidata Solutions, Inc. MDSO-US 4,564 78.20 37.2% 57.4% 95.8% 24.2% 13.3% 9.2x 61.1x 7.4x 29.2x Allscripts Healthcare Solutions, Inc. MDRX-US 2,315 12.76 0.7% 25.0% 84.1% 9.3% 14.6% 2.5x 15.9x 2.2x 10.9x HMS Holdings Corp. HMSY-US 1,552 18.50 -8.0% 1.9% 77.1% 23.9% 14.5% 3.2x 15.3x 2.7x 11.1x Quality Systems, Inc. QSII-US 1,079 17.21 13.4% 30.9% 98.1% 3.4% 13.9% 2.1x 13.3x 2.0x 12.8x Inovalon Holdings, Inc. INOV-US 832 13.15 7.1% 27.7% 65.6% 7.3% 17.4% 3.8x 20.8x 3.5x 14.4x 15.0% 17.9% 13.8% 14.5% Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap Quarter 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 $ 7,872 $ 56.89 -9.2% 11.2% 82.2% 31.7% (36.4%) 6.7x NM 5.1x 42.6x Pegasystems, Inc. PEGA-US 4,501 58.35 32.8% 62.1% 90.0% 15.7% 16.7% 5.5x 53.5x 5.0x 29.7x Teradata Corp. TDC-US 3,860 29.49 -5.7% 8.5% 88.5% (8.0%) 10.0% 1.4x 7.0x 1.6x 9.1x Tableau Software, Inc. DATA-US 3,673 61.27 25.1% 45.4% 91.3% 6.7% (20.0%) 4.5x NM 4.2x 61.6x Verint Systems, Inc. VRNT-US 2,551 40.70 -7.6% 15.5% 91.1% 8.4% 8.8% 2.7x 19.1x 2.5x 10.9x MicroStrategy, Inc. MSTR-US 1,803 191.67 1.8% -2.9% 92.5% 2.9% 19.2% 3.1x 12.7x 3.0x 11.5x PROS Holdings, Inc. PRO-US 861 27.39 15.6% 27.3% 89.8% 12.0% (39.0%) 5.8x NM 5.1x NM Inovalon Holdings, Inc. INOV-US 832 13.15 7.1% 27.7% 65.6% 7.3% 17.4% 3.8x 20.8x 3.5x 14.4x Hortonworks, Inc. HDP-US 813 12.88 32.4% 55.0% 91.5% 36.0% (93.1%) 3.7x NM 2.6x 67.3x Alteryx, Inc. AYX-US 202 19.52 29.9% NM 95.2% NM (15.6%) 11.4x NM 3.6x NM 12.5% (13.2%) 8.4% (3.4%)

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap Quarter 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 International Business Machines Corp. IBM-US $ 144,523 $ 153.83 -11.5% -7.3% 84.2% (1.5%) 12.4% 2.2x 11.2x 2.3x 9.6x Cognizant Technology Solutions Corp. CTSH-US 39,109 66.40 12.1% 18.5% 97.4% 11.3% 18.4% 2.6x 13.5x 2.4x 12.1x CGI Group, Inc. GIB.A-CA 13,436 51.02 2.6% 2.8% 98.0% 5.0% 17.8% 2.0x 10.9x 1.9x 10.3x Leidos Holdings, Inc. LDOS-US 7,807 51.69 0.7% 1.1% 91.2% 25.7% 9.6% 1.3x 14.0x 1.1x 10.8x Booz Allen Hamilton Holding Corp. BAH-US 4,827 32.54 -8.0% -9.8% 82.0% 7.5% 9.2% 1.1x 11.4x 1.0x 10.7x EPAM Systems, Inc. EPAM-US 4,359 84.09 10.8% 30.8% 96.7% 27.0% 11.8% 3.3x 24.8x 2.7x 14.6x Teradata Corp. TDC-US 3,860 29.49 -5.7% 8.5% 88.5% (8.0%) 10.0% 1.4x 7.0x 1.6x 9.1x InterXion Holding NV INXN-US 3,251 45.78 17.2% 30.5% 98.1% 19.9% 42.6% 8.4x 19.3x 7.0x 15.4x CACI International, Inc. CACI-US 3,058 125.05 5.8% 0.6% 92.4% 2.4% 7.9% 1.0x 11.5x 1.0x 11.1x ManTech International Corp. MANT-US 1,060 41.38 19.8% -2.1% 90.9% 5.1% 7.7% 0.9x 12.1x 0.9x 11.6x Virtusa Corp. VRTU-US 885 29.40 -1.9% 17.0% 84.2% 11.8% 6.1% 1.1x 32.9x 1.0x 11.9x Unisys Corp. UIS-US 645 12.80 -9.5% -14.4% 76.6% (1.7%) 8.4% 0.2x 2.1x 0.2x 1.7x The Hackett Group, Inc. HCKT-US 453 15.50 -18.9% -12.2% 74.9% 1.0% 12.6% 1.5x 11.4x 1.7x 9.6x ServiceSource International, Inc. SREV-US 344 3.88 2.4% -31.7% 62.1% (0.9%) (8.0%) 1.2x NM 1.2x 14.7x 7.5% 11.9% 5.0% 9.8%

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap Quarter 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 Cisco Systems, Inc. CSCO-US $ 156,502 $ 31.30 -7.2% 3.6% 90.5% (0.5%) 31.9% 2.5x 8.0x 2.5x 7.2x Check Point Software Technologies Ltd. CHKP-US 17,828 109.08 5.8% 29.1% 94.1% 9.4% 49.3% 9.2x 18.7x 8.7x 16.1x Symantec Corp. SYMC-US 17,183 28.25 -7.8% 18.3% 85.0% 30.0% 12.7% 5.3x 25.7x 4.1x 8.7x Palo Alto Networks, Inc. PANW-US 12,287 133.81 17.9% 7.0% 80.8% 26.9% (7.9%) 6.9x NM 5.4x 22.2x VeriSign, Inc. VRSN-US 9,433 92.96 6.6% 22.2% 97.9% 2.2% 65.3% 8.3x 12.7x 9.9x 14.0x Trend Micro, Inc. 4704-JP 7,229 51.53 18.6% 39.4% 96.5% 9.6% 33.0% 4.9x 14.3x 4.5x 13.9x Fortinet, Inc. FTNT-US 6,580 37.44 -1.1% 24.3% 90.6% 20.1% 5.7% 4.0x 49.0x 3.4x 16.3x Gemalto NV GTO-NL 5,420 59.94 2.2% -4.3% 83.1% 1.9% 22.2% 1.5x 7.6x 1.5x 8.3x Cheetah Mobile, Inc. CMCM-US 4,426 10.78 3.7% 12.8% 78.2% 18.2% NM 0.4x 26.6x 1.7x 18.2x Proofpoint, Inc. PFPT-US 3,796 86.83 17.1% 22.9% 92.0% 38.6% (8.9%) 9.2x NM 6.5x 49.6x FireEye, Inc. FEYE-US 2,713 15.21 18.6% 27.8% 82.6% 6.1% (18.6%) 3.6x NM 3.3x 38.1x CyberArk Software Ltd. CYBR-US 1,735 49.95 -2.7% 9.8% 84.3% 30.2% 13.0% 6.3x 34.2x 5.1x 21.2x Imperva, Inc. IMPV-US 1,598 47.85 17.0% 24.6% 83.6% 26.4% (11.9%) 4.6x NM 3.7x 33.3x Qualys, Inc. QLYS-US 1,511 40.80 8.5% 28.9% 92.0% 19.5% 23.5% 6.2x 26.3x 5.5x 16.8x Mimecast Ltd. (Jersey) MIME-US 1,497 26.78 23.4% 49.6% 90.8% 38.0% 2.3% 7.4x 920.2x 5.3x 58.6x AVG Technologies NV AVGTF-US 1,301 25.70 4.7% 1.5% 73.4% NM NM 3.3x 12.1x NM NM Varonis Systems, Inc. VRNS-US 1,009 37.20 19.0% 38.8% 98.2% 26.3% (25.8%) 5.1x NM 4.0x 122.9x Rapid7, Inc. RPD-US 726 16.83 12.1% 38.3% 87.2% 28.8% (19.6%) 3.9x NM 2.9x NM 19.5% 10.4% 20.1% 9.2% Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap Quarter 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 $ 33,437 $ 429.16 8.1% 20.1% 96.0% 20.5% 42.3% 10.1x 23.9x 8.0x 16.6x Digital Realty Trust, Inc. DLR-US 18,318 112.95 7.1% 15.0% 92.9% 6.6% 56.7% 11.7x 21.0x 10.9x 18.8x Akamai Technologies, Inc. AKAM-US 8,611 49.81 -17.7% -25.3% 69.5% 9.5% 32.8% 3.5x 10.5x 3.3x 8.6x DuPont Fabros Technology, Inc. DFT-US 4,760 61.16 25.7% 39.2% 92.4% 13.5% 60.7% 12.7x 21.0x 11.1x 17.8x GoDaddy, Inc. GDDY-US 3,883 42.42 14.3% 21.4% 95.9% 24.6% 7.6% 2.3x 21.1x 2.0x 7.8x CoreSite Realty Corp. COR-US 3,540 103.53 16.6% 30.4% 91.2% 20.3% 54.3% 10.7x 20.9x 8.9x 16.4x QTS Realty Trust, Inc. QTS-US 2,507 52.33 8.2% 5.4% 88.1% 16.3% 42.8% 8.8x 20.3x 8.4x 18.0x Extreme Networks, Inc. EXTR-US 1,016 9.22 24.9% 83.3% 83.6% 23.5% 8.7% 1.8x 27.3x 1.4x 10.6x 16.8% 38.3% 18.3% 42.6%

Market Stats Operating Stats LTM Multiples NTM Multiples

Est. TEV/ TEV/ Market Cap Quarter 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 Alphabet, Inc. GOOGL-US $ 591,999 $ 929.68 9.4% 17.3% 92.2% 1.1% 32.0% 5.9x 18.1x 5.9x 11.9x Microsoft Corp. MSFT-US 532,175 68.93 4.9% 10.9% 94.6% 19.6% 38.2% 5.7x 16.6x 4.8x 12.0x , Inc. FB-US 356,877 150.98 6.0% 31.2% 96.5% 44.7% 50.8% 13.4x 24.8x 9.4x 15.3x Oracle Corp. ORCL-US 207,413 50.14 12.2% 30.4% 96.7% 4.5% 45.2% 5.3x 12.7x 5.2x 11.1x International Business Machines Corp. IBM-US 144,523 153.83 -11.5% -7.3% 84.2% (1.5%) 12.4% 2.2x 11.2x 2.3x 9.6x Cisco Systems, Inc. CSCO-US 156,502 31.30 -7.2% 3.6% 90.5% (0.5%) 31.9% 2.5x 8.0x 2.5x 7.2x SAP SE SAP-US 128,137 104.67 6.9% 21.1% 96.3% 10.4% 18.8% 5.2x 18.2x 4.6x 14.0x salesforce.com, inc. CRM-US 61,602 86.60 4.9% 26.5% 94.1% 25.3% 7.4% 6.9x 87.0x 5.4x 24.3x 13.0% 29.6% 7.4% 32.0%

         Amount TEV/ Date Target Buyer(s) Segment TEV/ Rev ($ in Mil) EBITDA 6/29/2017 MoLOGIQ, Inc. NinthDecimal, Inc. Marketing Software - - - 6/29/2017 Scoutit, Inc. Vista Equity Partners Other SaaS - - - 6/28/2017 Intrepid Pursuits LLC Accenture Plc IT Services - - - 6/28/2017 Majesco Entertainment Co. Zift Interactive LLC Other SaaS 100.00 - - 6/28/2017 Doubledigit Bertram Capital Management LLC Marketing Software - - - 6/27/2017 Radiumone, Inc. (Marketing Platform) RhythmOne Plc Data & Analytics 21.97 - - 6/27/2017 Securethoughts.com XLMedia Plc IT Security 2.00 - - 6/23/2017 Clarity Consulting, Inc. Perficient, Inc. Enterprise Software - - - 6/22/2017 The Hit Channel, Inc. LED Lighting Co. Marketing Software - - - 6/22/2017 EnerNOC, Inc. Enel Green Power North America, Inc. Enterprise Software 281.24 0.71x -76.01x 6/22/2017 React2Media LLC Antevenio SA Marketing Software 8.50 1.52x - 6/22/2017 BlockCross Holdings LLC Instinet LLC Financial Technology - - - 6/21/2017 ARI Network Services, Inc. True Wind Capital Management LLC Supply Chain Software 133.75 - - 6/20/2017 broTECH Solutions LLC TrackX Holdings, Inc. Financial Technology 2.50 - - 6/20/2017 Behance, Inc. Reklamnaya Set A-Media OOO Other SaaS - - - 6/20/2017 Kongregate, Inc. Modern Times Group AB Other SaaS 55.00 - - 6/20/2017 OptionsCity Software, Inc. Insight Venture Management LLC Financial Technology - - - 6/20/2017 PEGRight, Inc. ProofID Ltd. IT Services 5.00 - - 6/19/2017 Doman Networking Services, Inc. Coordinated Business Systems Ltd. of Minnesota IT Services - - - 6/18/2017 Telosa Software, Inc. DonorCommunity, Inc. Other SaaS - - - 6/16/2017 ID Watchdog, Inc. Equifax Database Services, Inc. IT Security 57.13 - - 6/15/2017 Deposits Online LLC LendingTree, Inc. Financial Technology 33.00 - - 6/14/2017 Rightside Group Ltd. Donuts, Inc. Other SaaS 121.47 5.67x -7.60x 6/14/2017 Discrete Wireless, Inc. Compagnie Générale des Établissements Michelin SCA Supply Chain Software - - - 6/14/2017 Nielsen Holdings Plc (Mobile Research Assets) The Stagwell Group LLC Data & Analytics - - - 6/14/2017 Continuum Managed Services LLC Thoma Bravo LLC IT Services - - - 6/14/2017 Erecruit Holdings LLC Bond International Software Plc Enterprise Software - - - 6/14/2017 The Native Media, Inc. 5EL SA Marketing Software 8.26 - - 6/13/2017 Innovative Software Engineering LLC Trimble, Inc. Enterprise Software - - - 6/13/2017 Bright Agrotech, Inc. Plenty, Inc. Other SaaS - - - 6/13/2017 TMG Health, Inc. Cognizant Technology Solutions Corp. Enterprise Software - - - 6/13/2017 ViaWest, Inc. GI Manager LP IT Services 1675.00 - - 6/13/2017 Dhany, Inc. Fulcrum Equity Partners, Inc. IT Security - - - 6/13/2017 Blackmesh, Inc. Contegix LLC Infrastructure/Hosting - - - 6/13/2017 MedCo Data LLC Encoda LLC Healthcare IT - - - 6/13/2017 Ciber, Inc. (North American & Indian Ops) HTC Global Services, Inc. IT Services - - - 6/13/2017 Personalities & Promotions International, Inc. LST Marketing LLC Marketing Software - - - 6/12/2017 NextNine, Inc. Honeywell International, Inc. IT Security - - - 6/12/2017 NextGen Exchange Group Wecast Network, Inc. Financial Technology - - - 6/12/2017 The Room Ring LLC Roomi, Inc. Other SaaS - - - 6/12/2017 KnowledgeTree, Inc. Sterling Fund Management LLC IT Services - - - 6/9/2017 Ticketfly, Inc. Eventbrite, Inc. Marketing Software 200.00 - - 6/8/2017 Ravel Law, Inc. RELX Plc Other SaaS - - - 6/8/2017 Sous, Inc. Improvonia, Inc. Supply Chain Software - - - 6/7/2017 Phase One Consulting Group, Inc. Accenture Plc IT Services - - - 6/7/2017 Netelligent Corp. Huron Capital Partners LLC IT Services - - - 6/6/2017 Fieldlens, Inc. WeWork Cos. Inc. Other SaaS - - - 6/6/2017 WhiteCloud Analytics, Inc. Bertelsmann SE & Co. KGaA Other SaaS - - - 6/6/2017 Aftershock Services, Inc. Twenty-First Century Fox, Inc. Other SaaS 100.00 - - 6/6/2017 Yhat, Inc. Alteryx, Inc. Data & Analytics - - - 6/6/2017 Cycling '74, Inc. Ableton AG Enterprise Software - - - 6/6/2017 Mercury Network LLC CoreLogic, Inc. Financial Technology - - - 6/5/2017 Covisint Corp. Open Text Corp. Infrastructure/Hosting 66.89 0.95x -12.14x 6/5/2017 Flightinfo.com NC Software, Inc. Other SaaS - - - 6/5/2017 Edgecase, Inc. B.E.S.T. Investment Counsel Ltd. Other SaaS - - - 6/5/2017 SWN Communications, Inc. Veritas Capital Fund Management LLC Enterprise Software - - - 6/5/2017 Placed, Inc. Snap, Inc. Marketing Software 200.00 - - 6/5/2017 Digital First Media, Inc. Hearst Newspapers, Inc. Marketing Software - - - 6/5/2017 UniMed Direct LLC Kohlberg Kravis Roberts & Co. LP Healthcare IT - - - 6/2/2017 Brocade Communications Systems, Inc. (Vyatta Software) AT&T, Inc. Infrastructure/Hosting - - - 6/2/2017 Loci Controls, Inc. Turnbridge Capital LLC Other SaaS - - - 6/2/2017 PCSTrac Inc The Descartes Systems Group, Inc. Supply Chain Software 11.25 - - 6/2/2017 Sage Payment Solutions, Inc. GTCR LLC Financial Technology 260.00 1.55x - Amount TEV/ Date Target Buyer(s) Segment TEV/ Rev ($ in Mil) EBITDA 6/2/2017 SolutionsIQ, Inc. Accenture Plc IT Services - - - 6/1/2017 MOSAIQQ, Inc. Foresight Group LLP Marketing Software - - - 6/1/2017 Brocade Communications Systems, Inc. /vADC Business/ SIRIS Capital Group LLC Infrastructure/Hosting - - - 6/1/2017 OSSCube LLC Happiest Minds Technologies Pvt Ltd. Other SaaS - - - 6/1/2017 Thrivist LLC Tennessee Book Co. Enterprise Software - - - 6/1/2017 Next Digital Solutions LLC The Fila Group LLC IT Services - - - 6/1/2017 NYSE Governance Services, Inc. Marlin Management Co. LLC Other SaaS - - - 6/1/2017 PointSource LLC Globant SA Marketing Software 28.00 1.71x - 5/31/2017 Idera, Inc. HGGC LLC Enterprise Software 1125.00 - - 5/31/2017 Draftpot LLC Boom Shakalaka, Inc. Other SaaS - - - 5/31/2017 OSIsoft Software LLC SoftBank Group Corp. Data & Analytics - - - 5/31/2017 By Light Professional IT Services, Inc. Sagewind Capital LLC IT Services - - - 5/30/2017 The Yield Book, Inc. London Stock Exchange Group Plc Financial Technology 685.00 - - 5/30/2017 Xactly Corp. Vista Equity Partners Management LLC Financial Technology 471.50 4.87x -38.51x 5/30/2017 Lithium Technologies, Inc. Vista Equity Partners Management LLC Marketing Software - - - 5/30/2017 Controlled Environment Genomics, Inc. Gala Global, Inc. Healthcare IT - - - 5/30/2017 Integrated Access Solutions Avtex Solutions LLC Other SaaS - - - 5/30/2017 Output Services Group, Inc. Aquiline Capital Partners LLC Financial Technology - - - 5/30/2017 Kinnser Software, Inc. Mediware Information Systems, Inc. Healthcare IT - - - 5/29/2017 Dassault Systemes Solidworks Corp. Newman Cloud, Inc. Other SaaS - - - 5/26/2017 iSystems LLC Asure Software, Inc. Financial Technology 59.33 - - 5/26/2017 Compass HRM, Inc. Asure Software, Inc. Financial Technology 6.00 2.07x - 5/25/2017 Codenvy, Inc. , Inc. Enterprise Software - - - 5/25/2017 TriCore Solutions LLC Rackspace Ltd. IT Services - - - 5/25/2017 iMatte, Inc. Digital Ally, Inc. Other SaaS 1.00 - - 5/25/2017 Nutonian, Inc. DataRobot, Inc. Data & Analytics - - - 5/24/2017 Resolve Systems LLC Insight Venture Management LLC IT Services - - - 5/24/2017 Immersive Partner Solutions, Inc. NetApp, Inc. IT Services - - - 5/24/2017 iSIGMA, Inc. Energy Services Group LLC Other SaaS - - - 5/24/2017 DataFase LLC Glacier Computer LLC Other SaaS - - - 5/24/2017 TrestleMedia LLC Rock Creek Publishing Group, Inc. Marketing Software - - - 5/23/2017 Momentus Software, Inc. Tower Arch Capital LLC Other SaaS - - - 5/23/2017 Grindr LLC Beijing Kunlun Tech Co., Ltd. Other SaaS 395.11 26.50x - 5/23/2017 DevMate, Inc. Business Growth Fund Plc Supply Chain Software - - - 5/23/2017 Consolidated Knowledge LLC Elm Street Technology LLC Other SaaS - - - 5/23/2017 3CSI LLC Interactions LLC Marketing Software - - - 5/22/2017 Kony, Inc. Diebold Nixdorf, Inc. Other SaaS - - - 5/22/2017 Intercloud Systems, Inc. /SDN Essentials Division/ Redapt SDN LLC Other SaaS 1.40 - - 5/22/2017 CardBoard Software Engineering Professionals, Inc. Other SaaS - - - 5/22/2017 Hospice Management LLC Alpine Investors Healthcare IT - - - 5/22/2017 Cyphre Security Solutions LLC RigNet, Inc. IT Security - - - 5/22/2017 Axelrod /Fuel Oil & Feedstock Trader Publication/ ClipperData LLC Data & Analytics - - - 5/19/2017 CVISION Technologies, Inc. Foxit Software, Inc. Other SaaS 8.50 - - 5/19/2017 Z-Firm LLC The Descartes Systems Group, Inc. Supply Chain Software 17.00 - - 5/19/2017 Mynah Technologies LLC Emerson Electric Co. Enterprise Software - - - 5/19/2017 Azzaron, Inc. Great Hill Partners LP IT Services - - - 5/18/2017 Are You a Human LLC Distil Networks, Inc. IT Security - - - 5/18/2017 Vistar Technologies Corp. Pamlico Capital Management LP Healthcare IT - - - 5/17/2017 Qlue, Inc. ServiceNow, Inc. Infrastructure/Hosting - - - 5/17/2017 Discovia Lighthouse Document Technologies, Inc. Enterprise Software - - - 5/17/2017 Global Healthcare Exchange LLC Government of Singapore Supply Chain Software 1800.00 - - 5/17/2017 Creative Information Systems, Inc. Valsoft Corp. IT Services - - - 5/17/2017 Riskopy, Inc. Coupa Software, Inc. Data & Analytics - - - 5/17/2017 Total Merchant Services, Inc. North American Bancard, Inc. Financial Technology - - - 5/17/2017 Sticky, Inc. Tobii AB Data & Analytics - - - 5/16/2017 OneCloud Consulting, Inc. ePlus Technology, Inc. Infrastructure/Hosting - - - 5/16/2017 Symphony Communication Services LLC BNP Paribas SA Infrastructure/Hosting - - - 5/16/2017 Vertex Business Services LLC /BPO & Contact Center Ops/ Faneuil, Inc. Enterprise Software 12.91 - - 5/16/2017 Eccella Corp. NGData NV Data & Analytics - - - 5/16/2017 Apprise Software, Inc. Aptean, Inc. Supply Chain Software - - - 5/16/2017 Rimini Street, Inc. GP Investments Acquisition Corp. Enterprise Software 636.09 5.35x - 5/16/2017 Techworks LLC Vibrant Technologies, Inc. IT Services - - - 5/15/2017 Concurrent Real-Time, Inc. Battery Ventures Other SaaS 35.00 - - Amount TEV/ Date Target Buyer(s) Segment TEV/ Rev ($ in Mil) EBITDA 5/15/2017 Dowling Consulting Group Technology Recovery Group Infrastructure/Hosting - - - 5/15/2017 Razoo Global Corp. Razoo Global Corp. Other SaaS - - - 5/15/2017 Greensmith Energy Management Systems, Inc. Wärtsilä Oyj Abp Enterprise Software - - - 5/15/2017 Media Hive LLC Accenture Plc Other SaaS - - - 5/15/2017 I-Cubed Holding, Inc. Beringer Capital Marketing Software - - - 5/15/2017 Quest Software, Inc. (Oklahoma) TIBCO Software, Inc. Data & Analytics - - - 5/12/2017 MT Business Technologies, Inc. Global Imaging Systems, Inc. IT Services - - - 5/12/2017 Robotic Assistance Devices LLC On The Move Systems Corp. IT Services - - - 5/11/2017 Sycle LLC Cochlear Ltd. Financial Technology 78.00 - - 5/11/2017 Drawbridge Networks, Inc. Columbia Capital LLC (Virginia) IT Security - - - 5/11/2017 Conjur, Inc. CyberArk Software Ltd. IT Services 42.00 - - 5/11/2017 Active Corp. Garmin Ltd. Data & Analytics - - - 5/11/2017 Creator Republic, Inc. uZoom, Inc. Other SaaS - - - 5/11/2017 eGamerz Com, Inc. Natural Products, Inc. (Colorado) Other SaaS - - - 5/11/2017 MindMeld, Inc. Cisco Systems, Inc. Other SaaS 125.00 - - 5/11/2017 QL2 Software LLC Infare Solutions A/S Enterprise Software - - - 5/11/2017 Dolphin Enterprise Solutions Corp. Waterland Private Equity Investments BV Financial Technology - - - 5/10/2017 Sympoz, Inc. NBCUniversal Media LLC Other SaaS - - - 5/10/2017 XLOC, Inc. Keywords Studios Plc IT Services 0.90 - - 5/10/2017 Leeyo Software, Inc. Zuora, Inc. Financial Technology - - - 5/10/2017 Owlchemy Labs, Inc. , Inc. Other SaaS - - - 5/10/2017 Cost Management Services Ltd. (Sage HRMS Practice) Net@Work, Inc. Financial Technology - - - 5/10/2017 Dominion Web Solutions LLC Eurazeo SA Marketing Software 680.00 - - 5/10/2017 365 Services LLC (Silicon Valley Data Centers (2)) Evocative, Inc. Data & Analytics - - - 5/10/2017 Card Payment Services, Inc. Parthenon Capital LLC Financial Technology - - - 5/9/2017 Zyme Solutions, Inc. Insight Venture Management LLC Data & Analytics 100.00 - - 5/9/2017 Catavolt, Inc. Hexagon AB Other SaaS - - - 5/9/2017 MedAvante, Inc. WIRB-Copernicus Group, Inc. Healthcare IT - - - 5/9/2017 Grzybowski Scientific Inventions Ltd. Millipore Sigma Corp. Healthcare IT - - - 5/9/2017 Jibe Consulting, Inc. The Hackett Group, Inc. Enterprise Software 20.00 - - 5/9/2017 etouches, Inc. HGGC LLC Marketing Software - - - 5/9/2017 Pristine, Inc. GE Ventures LLC Enterprise Software - - - 5/9/2017 Probaris Technologies, Inc. (Probaris ID Assets) WidePoint Corp. IT Security 0.40 - - 5/8/2017 Crush Mobile Apps LLC Northsight Capital, Inc. Other SaaS - - - 5/8/2017 NRG Systems, Inc. ESCO Technologies, Inc. Data & Analytics - - - 5/8/2017 CW Professional Services LLC Digital Management, Inc. IT Services - - - 5/8/2017 HydroBio, Inc. The Climate Corp. Data & Analytics - - - 5/8/2017 Cirrascale Corp. BOXX Technologies, Inc. Other SaaS - - - 5/8/2017 CRC Information Systems, Inc. Electronics For Imaging, Inc. Enterprise Software - - - 5/7/2017 Leadware, Inc. Cience Other SaaS - - - 5/4/2017 Dreamlife Technology, Inc. iBrands Corp. Enterprise Software - - - 5/4/2017 SixSigma Networks Mexico SA de CV (Data Centers (2)) Zayo Group Holdings, Inc. IT Services 12.00 - - 5/4/2017 Agro Biosciences, Inc. Church & Dwight Co., Inc. Healthcare IT 100.00 - - 5/4/2017 eCommission Solutions LLC H.I.G. Capital LLC (Private Equity) Data & Analytics - - - 5/4/2017 API Digital Communications Group LLC NeoNova Network Services LLC IT Services - - - 5/4/2017 Outbound Solutions, Inc. Zendesk, Inc. Marketing Software - - - 5/4/2017 Versatile Mobile Systems, Inc. Barcoding, Inc. Other SaaS - - - 5/4/2017 PolicyStat LLC Susquehanna Growth Equity LLC Healthcare IT - - - 5/3/2017 Deco Software, Inc. Airbnb, Inc. Other SaaS - - - 5/3/2017 Shopfloor Support LLC Simparel, Inc. Other SaaS - - - 5/3/2017 Citelighter, Inc. Sylvan Learning LLC Other SaaS - - - 5/3/2017 Lexmark International, Inc. (Enterprise Software Business) Hyland Software, Inc. Other SaaS 1500.00 - - 5/3/2017 Zirmed, Inc. (Analytics Div) Koan Health LLC Healthcare IT - - - 5/3/2017 Thrive by iPyxel Creations Centre Lane Partners LLC Other SaaS - - - 5/3/2017 Spoon Media, Inc. Scripps Networks Interactive, Inc. Marketing Software - - - 5/3/2017 Agylytyx, Inc. Precyse Technologies, Inc. Enterprise Software - - - 5/2/2017 Yummly, Inc. Whirlpool Corp. Other SaaS - - - 5/2/2017 Plesk, Inc. Oakley Capital Ltd. (Private Equity) Infrastructure/Hosting 105.00 - - 5/2/2017 Apex Learning, Inc. Education Growth Partners LLC Other SaaS - - - 5/2/2017 Supernal Software LLC Ncontracts LLC Financial Technology - - - 5/2/2017 Web Decisions LLC Deloitte Touche Tohmatsu Ltd. Marketing Software - - - 5/2/2017 CallPointe, Inc. West Corp. Other SaaS - - - 5/1/2017 The Paciello Group LLC Freedom Scientific BLV Group LLC Other SaaS - - - 5/1/2017 Jive Software, Inc. Wave Systems Corp. Enterprise Software 300.04 1.47x 36.58x Amount TEV/ Date Target Buyer(s) Segment TEV/ Rev ($ in Mil) EBITDA 5/1/2017 DILIsym Services, Inc. Simulations Plus, Inc. Healthcare IT 10.00 - - 5/1/2017 Viptela, Inc. Cisco Systems, Inc. IT Services 610.00 - - 5/1/2017 Paradigm Technology Consulting LLC International Shared Services, Inc. IT Services - - - 5/1/2017 AIM Consulting Group Washington LLC Odyssey Investment Partners LLC IT Services - - - 5/1/2017 Angie's List, Inc. IAC/InterActiveCorp. Healthcare IT 525.76 1.68x 28.35x 4/28/2017 Guavus, Inc. Thales SA Data & Analytics 215.00 - - 4/28/2017 ECSTeam, Inc. CGI Group, Inc. IT Services - - - 4/28/2017 Computer Technology Solutions, Inc. CGI Group, Inc. IT Services - - - 4/28/2017 Image Stream Medical, Inc. Olympus Corporation of the Americas Healthcare IT 87.00 - - 4/28/2017 PeopleLinx, Inc. FRONTLINE Selling LLC Enterprise Software - - - 4/28/2017 Neya Systems LLC Applied Research Associates, Inc. IT Security - - - 4/27/2017 Scalable Display Technologies, Inc. (Huddlewall Business) Hoylu AB Other SaaS 1.10 - - 4/27/2017 Deeplocal, Inc. WPP Digital Marketing Software - - - 4/27/2017 Automatic Labs, Inc. Sirius XM Holdings, Inc. Other SaaS 115.00 - - 4/27/2017 Mobile Science Technologies, Inc. Meridian Waste Solutions, Inc. Other SaaS 4.31 - - 4/27/2017 Lightshed Healthcare Technologies LLC Warburg Pincus LLC Healthcare IT - - - 4/27/2017 ACCENT InterMedia LLC Dean Keatin Marketing LLC Financial Technology 1.56 - - 4/26/2017 Bunk1.com Aquiline Capital Partners LLC Other SaaS - - - 4/26/2017 Juno USA LP Volkswagen AG Other SaaS 250.00 - - 4/26/2017 Mediachain Spotify USA, Inc. Data & Analytics - - - 4/26/2017 Volerro Corp. FISION Corp. Marketing Software 0.30 - - 4/26/2017 DataXpand Entravision Communications Corp. Data & Analytics - - - 4/26/2017 Raven Tools LLC TapClicks, Inc. Marketing Software - - - 4/26/2017 OmniEarth, Inc. Vista Equity Partners Data & Analytics - - - 4/25/2017 Engine Yard, Inc. Crossover IT Services - - - 4/25/2017 365 Services LLC Lumerity Capital LLC Infrastructure/Hosting - - - 4/25/2017 ZedX, Inc. BASF SE Data & Analytics - - - 4/25/2017 mCloud Corp. Universal Ventures, Inc. Data & Analytics 4.04 - - 4/25/2017 Birst, Inc. Infor, Inc. IT Services 100.00 - - 4/25/2017 Vertex Solutions Group LLC The Consultants Consortium, Inc. Marketing Software - - - 4/25/2017 RiskMatch LLC Bain Capital Private Equity LP Data & Analytics - - - 4/25/2017 Paymetric, Inc. Vantiv, Inc. Financial Technology - - - 4/25/2017 Source Medical Solutions, Inc. Surgical Information Systems LLC Healthcare IT - - - 4/25/2017 Leetcoin, Inc. Unikrn, Inc. Other SaaS - - - 4/24/2017 RightAnswers, Inc. Upland Software, Inc. IT Services 19.70 - - 4/24/2017 Rokk3r Labs LLC Eight Dragons Co. IT Services 470.59 - - 4/21/2017 BGL Facilities Consultants Cresa Partners LLC IT Services - - - 4/20/2017 Advanced Technologies Solutions IMAGINiT Technologies, Inc. Other SaaS - - - 4/20/2017 Guidebox, Inc. Replay Media Group, Inc. Other SaaS - - - 4/20/2017 RTI, Inc. (Georgia) Intersil Corp. Enterprise Software - - - 4/20/2017 Workplace Answers LLC New Enterprise Associates LLC Enterprise Software - - - 4/20/2017 Core Services Corp. Syntax Systems Ltd. Infrastructure/Hosting - - - 4/19/2017 Intentional Software Corp. Microsoft Corp. Other SaaS - - - 4/19/2017 Experiment Engine, Inc. Optimizely, Inc. Enterprise Software - - - 4/19/2017 Echo Cloud Solutions LLC Online Tech, Inc. Infrastructure/Hosting - - - 4/19/2017 Financial Navigator, Inc. Asset Vantage Systems Pvt Ltd. Financial Technology - - - 4/19/2017 Dixie Drawl LLC Omnicell, Inc. Healthcare IT 5.30 - - 4/19/2017 TVC Solutions American Innovations Ltd. Other SaaS - - - 4/19/2017 HomeTrak, Inc. Battery Ventures Healthcare IT - - - 4/19/2017 ToutApp, Inc. Vista Equity Partners Data & Analytics - - - 4/19/2017 CoverCake, Inc. Spindle, Inc. Marketing Software - - - 4/18/2017 Mainstream Software, Inc. CBRE Group, Inc. Enterprise Software - - - 4/18/2017 PharmaMetrics, Inc. Accel-KKR LLC Data & Analytics - - - 4/18/2017 TradeWarrior, Inc. Oranj, Inc. Financial Technology - - - 4/18/2017 Teachers-Teachers Com LLC Frontline Educational Products LLC Other SaaS - - - 4/18/2017 Moat, Inc. Oracle Corp. Marketing Software 850.00 - - 4/18/2017 InfoReliance Corp. ECS Federal, Inc. IT Services - - - 4/17/2017 Mytrus, Inc. Medidata Solutions, Inc. Healthcare IT - - - 4/17/2017 Double Down Interactive LLC DoubleUDiamond LLC Other SaaS 825.00 - - 4/17/2017 Elite Daily, Inc. BDG Media, Inc. Marketing Software 40.00 - - 4/14/2017 Ascend Learning LLC Canada Pension Plan Investment Board Healthcare IT 2000.00 - - 4/13/2017 xPerception Technology, Inc. Baidu, Inc. Other SaaS - - - 4/13/2017 Parking Panda Corp. SpotHero, Inc. Enterprise Software - - - Amount TEV/ Date Target Buyer(s) Segment TEV/ Rev ($ in Mil) EBITDA 4/13/2017 Innovative Computer Solutions, Inc. Jonas Software Supply Chain Software - - - 4/13/2017 SpeedETab, Inc. Paymentez LLC Financial Technology - - - 4/12/2017 Fobess LLC Across Borders Management Consulting Group LLC Other SaaS - - - 4/12/2017 RSI Content Solutions Orbis Technologies, Inc. IT Services - - - 4/12/2017 Wavefront, Inc. VMware, Inc. Data & Analytics - - - 4/12/2017 Entrada, Inc. NextGen Healthcare Information Systems LLC Healthcare IT 34.00 2.83x - 4/12/2017 Cirracore LLC Green House Data, Inc. IT Services - - - 4/12/2017 Klink Technologies, Inc. Delivery.Com LLC Supply Chain Software - - - 4/12/2017 Merge Design + Interactive, Inc. HY Connect LLC Marketing Software - - - 4/12/2017 Bankruptcy Management Solutions, Inc. Stone Point Capital LLC Financial Technology - - - 4/11/2017 Creativebug LLC Jo-Ann Stores LLC Other SaaS - - - 4/11/2017 Nationwide Tech Solutions, Inc. Mccusker Holding Corp. Other SaaS 0.10 - - 4/11/2017 1Spatial, Inc. 1Spatial Plc Data & Analytics 3.40 - - 4/11/2017 Spicerack Media, Inc. Scientific Games Corp. Other SaaS - - - 4/11/2017 Williams & Garcia LLC Platinum Equity LLC Data & Analytics - - - 4/11/2017 Indie Hackers Stripe, Inc. Financial Technology - - - 4/10/2017 Deis, Inc. Microsoft Corp. Other SaaS - - - 4/10/2017 Ciber, Inc. (North American & Indian Ops) Capgemini America, Inc. IT Services 50.00 - - 4/10/2017 Fidelity National Information Services, Inc. (Ambit Business) New Access SA Financial Technology - - - 4/10/2017 LendingTools.com, Inc. PITECO SpA IT Security - - - 4/10/2017 Blue Key Technology LLC GadellNet Consulting Services LLC IT Services - - - 4/10/2017 Plante & Moran PLLC Keais Records Service LLC Other SaaS - - - 4/10/2017 4M Industrial Oxidation LLC Woodland Holdings Corp. Healthcare IT - - - 4/7/2017 Abila, Inc. Riverside Partners LLC (New York) Enterprise Software - - - 4/7/2017 PRO Unlimited, Inc. Harvest Partners LP IT Services 300.00 - - 4/6/2017 Russ Reid Co. Grizzard Communications Group, Inc. Marketing Software - - - 4/6/2017 Energent Group Software LLC Westwood Global Energy Group Data & Analytics - - - 4/6/2017 R2net, Inc. Francisco Partners Management LLC Supply Chain Software 280.00 - - 4/6/2017 Zycron, Inc. BG Staffing, Inc. IT Services 19.99 - - 4/6/2017 Cascadelink, Inc. Oak Hill Capital Management LLC Other SaaS - - - 4/5/2017 Oceanserver Technology, Inc. L3 Technologies, Inc. Other SaaS - - - 4/5/2017 Online Trust Alliance Society IT Security - - - 4/4/2017 VMware, Inc. (vcloud Air Business) OVH SAS Other SaaS - - - 4/4/2017 Dealer Information Systems Corp. Perseus Operating Group Other SaaS - - - 4/4/2017 Travelshunter.com eMedia Group, Inc. Other SaaS - - - 4/4/2017 Datamax Consulting Corp. TA Associates Management LP Data & Analytics - - - 4/4/2017 Inmar, Inc. OMERS Private Equity, Inc. Supply Chain Software - - - 4/4/2017 Jaco Analytics, Inc. WalkMe Ltd. Data & Analytics - - - 4/4/2017 Navigant Solutions LLC Sixred LLC IT Services - - - 4/4/2017 Connextions, Inc. TeleTech Healthcare Solutions, Inc. Healthcare IT 80.00 - - 4/4/2017 InfoGroup Northwest, Inc. Infogroup Northwest, Inc. IT Security - - - 4/4/2017 WPC Healthcare, Inc. Thomas H. Lee Partners LP Healthcare IT - - - 4/3/2017 Teleport, Inc. (California) MOVE Guides Ltd. Other SaaS - - - 4/3/2017 AcademicWorks, Inc. Blackbaud, Inc. Other SaaS 50.00 9.62x - 4/3/2017 Leapfrog Online Customer Acquisition LLC Isobar Communications Plc Marketing Software - - - 4/3/2017 Telvent DTN, LLC TBG AG Supply Chain Software 900.00 4.23x - 4/3/2017 2Checkout.com, Inc. Avangate, Inc. Financial Technology - - - 4/3/2017 ConnectSolutions, Inc. AASKI Technology, Inc. IT Services - - - 4/3/2017 ShiftHound, Inc. Summit Partners LP IT Services - - - 4/3/2017 Buzzlink.Com Metatron, Inc. Other SaaS - - - 4/3/2017 PlayNetwork, Inc. TouchTunes Music Corp. Marketing Software - - - 4/3/2017 Retikal LLC Kaufman, Hall & Associates LLC Financial Technology - - - 4/3/2017 Blue Acorn, Inc. Beringer Capital Data & Analytics - - - 4/1/2017 Clear Computing, Inc. 1bg LLC IT Services - - -