q1 2015 connected car market update - woodside cap€¦ · q1 2015 connected car market update...
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Q12015ConnectedCarMarketUpdate
WoodsideCapitalPartners
April2015
I. ConnectedCarMarket— ConnectedCarMarketDynamics
— PublicCompanyMarketMap
II. RecentDevelopments— PressReleasesandNewsStories— TransacEonsandFinancings
III. M&ATransacEons
IV. PrivateEquityPlacements
V. PublicCompanyOverviews
VI. SelectCompanyProfiles
VII. WoodsideOverview
VIII. GlobalReach
IX. WCPContactInformaEon
TABLEOFCONTENTS
CONNECTEDCARMARKET
4
§ Therewillbe220Mconnectedcarsontheroadby2020,with88MacEvelyusingconnectedservices1
§ ConsumerstodayexpectconnecEvitywherevertheyareandthecarisnoexcepEon
§ VehiclesarebecominganincreasinglylargepartoftheburgeoningInternetofThings(IoT)market— Oneinfivecarswillhavesomeformof
wirelessnetworkconnecEvityby20202
§ Salesofconnectedcarswillequal$2.3Tin20201
§ Connectedcarhardwareandso[warewillbringin$152BinaddiEonalrevenueby20201
ConnectedCarMarketDynamics
0
50
100
150
200
250
2014E 2015E 2016E 2017E 2018E 2019E 2020E
Num
bero
fCars(M)
ConnectedCarsontheRoad
AcEveUsers BuiltWithConnecEvity
0 10 20 30 40 50 60
MobilityMgmt
VehicleMgmt
Well-Being
Entertainment
Safety
DriverAssistance
$B
RevenuesfromConnectedCarHardwareandSo[ware
(1)BusinessInsider,3/15(2)eWeek,1/15
Source:BusinessInsider
5
PublicCompanyMarketMap
SystemLevel
Tools,CustomSystems
AutoManufacturers
System-level
OSV,Middleware,HardwareandServiceSuppliers
Semiconductors
MobilePlaMorms
HardwareMiddlewareSoNwareServices
Silicon
Integrators
OEMs
RECENTDEVELOPMENTS
7
RecentDevelopments
§ “Ford,Mercedes-BenzSetUpShopinSiliconValley”WallStreetJournal(3/27/15)
§ “AlibabaandSAICMotortoInvest$160MinConnectedCarMarket”SiliconAngle(3/13/15)
§ “AppleCarPlaycomingtoover40newcarmodelsin2015”c|net(3/9/15)
§ “VerizonCommunicaSonsTurningConnectedCarServicesPopular”Apphil(3/9/15)
§ “AT&TtoHookUpItsAutomatedHomeandConnectedCarServices”NewYorkTimes(3/2/15)
§ “IntelIncreasesItsAutoIndustryFocusAsConnectedCarTechnologyGrows”DrivingSalesNews(3/2/15)
§ “ConnectedcarscouldhelpboostCanada’sauto-industrymarketshare:TDEconomics”FinancialPost(3/16/15)
§ “What’sHoldingBacktheConnectedCar?”AppCarousel(3/13/15)
§ “ConnectedCarMarket$190BillionBy2020”RadioInk(3/6/15)
CompanySpecific:
GeneralMarket:
8
RecentDevelopments(conEnued)
§ “IntegratedSiliconAgreesto$640MillionTakeover”WallStreetJournal(3/12/15)
§ “TeletracAndNavmanWirelessMergeToCreateGlobalTelemaScsLeader”FieldTechnologiesOnline(3/3/15)
§ “BoschacquiresdevicesconnecSvityspecialistProSyst”Domain-b(2/16/15)
§ “InvestcorpacquirestelemaScsspecialistArvento”CPIFinancial(2/12/15)
§ “SecurityInnovaSonRaises$4MtoConnectCars,FightHackers”Xconomy(3/30/15)
§ “TTTechRaises50MillionEurostoScaleitsRobustNetworkSoluSonsfortheIndustrialInternetofThingsandAutonomousDrivingCars”
BusinessWire(3/25/15)
§ “ConnectedCarPlabormMojioRaises$8MSeriesARoundLedByTelekomCapital”TechCrunch(3/24/15)
§ “IntelAndINRIXCollaborateOnSmartCiSesPlabormsAndApplicaSonsPoweredByBigData:IntelCapitalMakesInvestmentinINRIX”
YahooFinance(11/4/14)
M&ATransacUons:
PrivatePlacements:
M&ATRANSACTIONS
10
RecentM&ATransacEons
Source:CapitalIQ,451ResearchandWoodsideCapitalPartnersesSmates
Date Acquiror TargetTransactionValue($M)
TV/RevenueMultiple TargetBusinessDescription
03/12/15 SummitviewCapital;HuaCapital;eTownMemTek
IntegratedSiliconSolution
$623.4 1.5x IntegratedSiliconSolution,afablesssemiconductorcompany,designsandmarketsintegratedcircuitsforGPS,telematics,infotainment,backupcameras,lanedeparturewarningsystems,andotherapplications.
01/27/15 LatticeSemiconductor SiliconImage 572.0 1.6 SiliconImageoffersmobileHDlinkandHDmultimediainterfacetransmittersthatenablesmartphonesandtabletstoconnecttoTV's,PCmonitors,automobileinfotainmentsystems,projectors,andaudio/videoreceivers.
01/22/15 HarmanBeckerAutomotiveSystems
RedBendSoftware 200.0 NA RedBendSoftwareoffersmobilesoftwaremanagementsolutionsformobiledevicesandservices.Thecompany’sservicesareusedfordevicemanagementandanalyticsbydevicesoftwaredevelopersandautomotivecompanies.
11/11/14 CoxAutomotive Xtime 325.0 NA Xtimeprovidescloud-basedretentionsolutionsfortheretailautomotiveindustry.Thecompanyoffersasolutionintegratingservicemarketing,servicescheduling,andservicecheck-inforconsumersandservicepersonnel.
11/06/14 MiXTelematics CompassFleetManagement
5.2 NA CompassFleetManagementprovidesfleettelematicsinSouthAfrica.
10/21/14 GoodTechnology Macheen 8.3 NA MacheenoperatesaSaaSplatformthatbringsmobilebroadbandandconnectedservicestotablets,digitalcameras,personalgamingdevices,connectedcars,etc.withoutWiFiandtraditionaldataplans.
10/15/14 Qualcomm CSR 2,376.4 2.7 CSRdesignsanddevelopssemiconductorintegratedcircuits.Thecompanyprovidesmultifunctionsemiconductorplatformsandtechnologiesforautomotiveinfotainment,imaging,voiceandmusic,andBluetoothsmartdevices.
09/30/14 DelphiAutomotive UnwiredTechnology 190.0 NA UnwiredTechnologymanufacturesandsellswirelessRFtransmitters,USBconnectorportsandwirelessbluetoothheadphonesystemsforonboardautomotiveentertainmentsystemOEMs.
09/29/14 SHHoldings;LimeandCompany
Point-I 3.6 3.6 Point-IprovidesmobilesoftwareandsolutionsinSouthKorea.ThecompanyalsoprovidesmobileASPservices,suchaspositioning,telematics,MobileSNS,videooptional,systemintegration,Web,andconsultingservices.
09/02/14 Quindell ConnectedCarSolutions
30.5 NA ConnectedCarSolutionsoffersarealtimetechnologywhichmonitorsdrivinghabitsofmotorists.
07/28/14 StadiumGroup UnitedWireless 23.8 NA UnitedWirelessspecializesinthedesignandmanufactureofmachine-to-machinewirelesssolutionsthatsupportwirelessconnectivitybetweendevicesacrosswirelesstechnology,primarilycellularnetworks.
07/07/14 Invensense TrustedPositioning 19.0 NA TrustedPositioningprovidesmanufacturerswithGPS,Wi-Fiandmulti-sensorenabledindoor/outdoorlocationtrackingsoftwarethatisembeddedintomobiledevicesforvehicularandpersonalnavigation.
06/30/14 LuxoftHolding Mecel(PopulusSuiteAssets)
1.0 NA ThePopulusSuiteassetsofMecelprovideshuman-machineinterfacecommunicationsdevelopmentsoftwareforautomotivemanufacturersglobally.
06/16/14 VodafoneGlobalEnterprise
CobraTelematics 27.1 NA CobraTelematicsprovidestelematicssolutionsfortheautomotiveindustry.
03/12/14 ORBCOMMNetherlands EuroscanHoldings 34.4 NA EuroscanHoldingsprovidestelematicsandloggingsolutionsfordatarecordingandonlinemonitoringinthetransportsector.
11
RecentM&ATransacEons(conEnued)
Source:CapitalIQ,451ResearchandWoodsideCapitalPartnersesSmates
Date Acquiror TargetTransactionValue($M)
TV/RevenueMultiple TargetBusinessDescription
02/13/14 WABCOHoldings TransicsInternational
$156.4 NA TransicsInternationalprovides-GPSbasedfleetmanagementsystemsforthetransportationsectorinEurope.Systemsconsistofin-vehiclecomputersandadministrativesoftware.
02/04/14 RenovaGroup OctoTelematics 546.9 NA OctoTelematicsmanufacturesClearboxdevicesforcommunication,datacollection,carrentalandfleetmanagement,andmotormanufacturersinItalyandinternationally.
12/23/13 TelitWirelessSolutions ATOPBusiness 9.1 NA ATOPBusinesscomprisesautomotivetelematicsonboardunitplatformsforvehiclemanufacturerswhichenablesthemtoimplementtelematicsserviceslikeeCall.
10/11/13 SierraWireless AnyDATA 5.9 0.6x AnyDATAdesigns,manufactures,andprovidesembeddedwirelesscommunicationmodulesthatenableuserstoaccesstheInternetandconnectedsmartsolutionsforlocationbasedservices,mobile,andautomotiveareas.
10/08/13 ApaxPartners GlobalLogic 420.0 1.7 GlobalLogicprovidesfull-lifecycleproductdevelopmentservicesandoffersBigDataandanalytics,cloud,embedded,mobile,andsecuritytechnologiestoautomotive,infotainmentandvariousotherindustries.
10/08/13 Trakm8Holdings BOXTelematics 6.8 0.5 BoxTelematicsdesigns,develops,manufactures,anddeliversGPSbasedvehicletrackingsolutionstocommercialfleetsandvehicles.
09/26/13 Ford MyineElectronics 10.0 NA MyineElectronicsprovidessoftwareandBluetoothwirelesschipsetsthatenableapplicationstoconnectwithhardwareandbecontrolledbyhardwareforconsumers,businessesandautomotivemanufacturers.
09/09/13 KochIndustries Molex 7,228.6 1.8 Molexengagesinthedesign,manufacture,andsaleofelectroniccomponentsworldwide.Thecompanyoffersautomotiveproductsforinfotainmentandnavigation,powertrain,safetyandchassis,andbodyelectronics.
08/15/13 SiriusXM Agero 530.0 NA Agero'sservicesincludesatellite-basedGPSvehicletracking,ondemandinformationandentertainmentcontentandnavigationassistancefordrivers.
07/01/13 ZENRINDataCom InfoTrackTelematics 4.0 NA InfoTrackTelematicsdesignsanddevelopstelematicsandlocationintelligencesolutionsfortransportationandlogisticscompaniesintheMiddleEastandtheAsiaPacific.
05/30/13 NuanceCommunications TweddleConnect 80.0 12.2 TweddleConnectprovideshostedin-vehicleentertainmentcontentdeliverysoftwareforautomobilemanufacturers.Thecompanydeliverscontentandapplicationsfromthird-partyproviders.
04/10/13 Harman iOnRoad 8.0 NA iOnRoadprovidesamobileGPS-baseddriverassistanceapplicationforiOSandAndroiddeviceusers.Theapplicationusessmartphonecamerastoprovidereal-timesafetyassistanceandcollisionwarnings.
03/19/13 BSMTechnologies AutoVisionWireless 14.0 1.7 AutovisionWirelessoperatesasatelematicscompanyinNorthAmericaandinternationally.
75thPercentile $348.8 2.4x
Mean 480.7 2.8
Median 28.8 1.7
25thPercentile 8.2 1.5
12
RecentM&ATransacEons–ValuaEonNotDisclosed
Source:CapitalIQ,451ResearchandWoodsideCapitalPartnersesSmates
Date Acquiror Target TargetBusinessDescription03/03/15 Teletrac NavmanWirelessUK NavmanWirelessUKprovidesvehicletrackingandtelematicssolutionstobusinessesintheUnitedKingdom.
02/16/15 BoschSoftwareInnovations ProSystSoftware ProSystSoftwareprovidessoftwareandservicesthatenablethedeploymentofcontentandapplicationsinmobiledevices,smarthome,automotivetelematics,enterprise,andindustrialapplications.
02/11/15 InvestcorpBank ArventoMobilSistemler ArventoMobilSistemlerdesigns,develops,andmanufacturesmobiletrackingtechnologies,telematicsproducts,andM2Msolutions.
12/18/14 ILAG DolphinTechnologies DolphinTechnologiesprovidesautomotivetelematicssystemsforvehicleinsurersglobally.
12/18/14 Harman S1nn S1nnprovidesentertainmentsystemsandsoftwareforautomotivemanufacturersglobally.Alsoprovidesrelatedmobilecontrolapplications.
12/18/14 ILAG DolphinTechnologies DolphinTechnologiesprovidesconsulting,implementation,andfulfillmentservicestocombineinsurancetelematicstechnologywithmarketingautomationandCRMforinsurers.
12/10/14 AkkaTechnologies Auronik Auronikprovidesinfotainmentandnavigationtechnologyfortheautomobileindustry.
12/02/14 u-blox Lesswire(AutomotiveAssets) LesswireprovidesWi-FiandBluetoothshort-rangeembeddedwirelessradiocomponentsandsystemstoenableconnectedcarsandotherM2MwirelessconnectivityforautomotiveandelectronicsOEMs.
12/02/14 TomTomTelematics Fleetlogic Fleetlogicoffersfleetmanagementsoftwaresolutions.
10/29/14 Astrata YameiElectronicsTechnology YameiElectronicsTechnologydesignsandmanufacturesautomotiveremotecontrolsolutions.
10/25/14 Velvac Qualnetics Qualneticsdesignsanddevelopssoftwareforautomobileandcommercialfleetmanagement,trackinganddiagnostics.
09/09/14 PointerTelocation ThalesTelematics ThalesTelematicsprovidestelematicssolutionsthatenablepeople,businesses,andgovernmentstomanagefleetsofvehicles,assets,deliveries,andon-the-roademployees.
09/01/14 Devoteam ProgisSoftware ProgisSoftwaredevelopsgeographicinformationsystemsoftwareapplicationsfortheruralarea-sector.
08/08/14 VINCIEnergies VarsBrno VarsBrnoprovidessystemsfortransportation,assetmanagement,andpublicadministration.
06/04/14 SummitPartners/FleetCor
Masternaut MasternautprovidesGPS-basedfleetmanagement,vehicletrackingandnavigationsystemsandWeb-basedsoftwareforthetransportation,governmentandlogisticssectorsinEurope.
13
RecentM&ATransacEons–ValuaEonNotDisclosed(cont.)
Source:CapitalIQ,451ResearchandWoodsideCapitalPartnersesSmates
Date Acquiror Target TargetBusinessDescription04/29/14 TomTom DamsTracking DamsTrackingprovidesGPSfleetmanagementandtelematicssoftwareforbusinessesinFrance.
02/24/14 MorganStanley LuxoftHolding LuxoftHoldingprovidessoftwaredevelopmentservices,ITsolutions,andiviLink/smartdevicelinkprotocol,anin-carconnectivitysolutionthatenablesseamlesstwo-wayintegrationbetweenin-vehicleinfotainmentsystems.
02/05/14 Lysanda TrackerNetwork TrackerNetworkprovidesvehicletrackingsystemsforcustomersandbusinessesintheUnitedKingdom.
01/31/14 MentorGraphics Mecel Mecel'sAutomotiveOpenSystemArchitecturedivisionprovidesopenstandardautomotiveembeddedsoftwaresystemsforcarmanufacturers.
01/13/14 Astrata QualcommEnterpriseServicesEurope
QualcommEnterpriseServicesEuropeprovidestelematicsandfleetmanagementsolutionsfortransportandlogisticscompanies.
12/12/13 IdemTelematics FunkwerkEurotelematik FunkwerkEurotelematikdevelopsandoperatessolutionsforthemonitoringandcontrolofvehiclesandvehiclefleets.Thecompanydevelopssoftwarefornavigation,tracking,tracing,andcommunicationapplications.
11/25/13 Omnitracs RoadnetTechnologies RoadnetTechnologiesoffersfleetmanagementsoftwaretoolsandGPStrackingsolutions.
10/04/13 Maruwa Sarantel Saranteldesigns,develops,andmanufacturesminiaturefilteringantennasforhandheldGPSandsatelliteradios.Itsproductsareusedinsatelliteradio,PDAs/PNDs,telematics/trackers,sportsandgames,locationbasedservices,andGPSmodules.
09/10/13 AAMPFlorida Intraphex Intraphexengagesinthedevelopment,manufacture,andmarketingofautomotivetechnologysystemsandoffersplugandplayautomotiveinfotainmentnavigationsystems;andaccessoriesformirrorandnavigationsystems.
05/07/13 GlobalEdgeSoftware DearbornElectronicsIndia DearbornElectronicsprovidesembeddedsoftwareforuseinautomotiveelectroniccontrolunitsandindustrialautomationsystemsforelectronicsmanufacturersglobally.
05/02/13 FEVNorthAmerica DGE DGEoffersvehiclebusinterfaces,automotivenetworkgateways,customautomotivedevelopmenttools,enginesimulators,transmissionsimulators,telematicsvehicledrivesimulators,andvehiclegatewaymodules.
02/21/13 MentorGraphics MontaVistaSoftware MontaVistaSoftwareprovidesembeddedLinux-basedOSsoftwareforuseinonboardautomotivecomputersystemsforautomobilemanufacturers.
01/24/13 TrapezeSoftware MentorEngineering MentorEngineeringprovidesfleetmanagementandmobileworkforcesolutions.
01/08/13 T&NTelekom&Netzwerk TelefonbauSchneider TelefonbauSchneiderdevelopsandmarketscommunicationsolutionsandinfotainmentsystems.
PRIVATEEQUITYPLACEMENTS
15
SelectedPrivatePlacementAcEvity
Source:CapitalIQ,451ResearchandWoodsideCapitalPartnersesSmates
Date Company Amount($M) Investors BusinessDescription03/26/15 SecurityInnovation $4.0 BrookVenturePartners SecurityInnovationprovidessecuritysoftwarethatconnectscarsandprogramstoteachemployeeshowtoavoidsecurity
breaches
03/25/15 TTTech 54.7 Audi;GE;InfineonTechnologies TTTechprovidesnetworkedsafetycontrolsforautomotive,aerospace,off-highway,energyproduction,railwayandindustrialmarkets.
03/24/15 Mojio 8.0 T-VentureHolding;BDCVentureCapital;RelayVentures
Mojioprovidesacloud-connectedcellularandGPSdevicethatconnectstovariouscarsforinsightsintowhat’shappeningunderthehoodandbehindthewheel.
12/26/14 Join-LinkInternationalTechnology
18.8 Wistron Join-LinkInternationalTechnologymanufacturescarinfotainmentsystemsforthecarindustry.
11/04/14 INRIX 10.0 IntelCapital INRIXisabigdatatechnologycompanythatprovidesreal-timetrafficinformation,transportationanalytics,andconnecteddriverservices.
10/21/14 NanjingSampleTechnology 67.1 NanjingSampleTechnologyGroup NanjingSampleTechnologyprovidesvisualidentification,radio-frequencyidentificationtechnologiesandtelematicsservices,whichcomprisereal-timetraffic,parkingguidance,andtrafficinformationservices.
08/07/14 Zubie 8.0 MagnaInternational;Comporium;NokiaGrowthPartners
Zubieprovidesakeytotrackvehicles,checkenginelightinterpretation,detectlowbattery,monitorandcoachdrivingscore,andcompetewithfriendsusingleaderboards.
04/02/14 JasperTechnologies 50.0 TemasekHoldings JasperTechnologiesdevelopscloudplatformsthatenableenterprisestomonetizeIoTservicebusinessesandgivesautomotiveOEMsglobalvisibilityandcontrolovertheactivityoftheirconnectedvehiclesonthewirelessnetwork.
03/31/14 AltranTechnologies 5.9 Altamir AltranTechnologiesprovidesengineeringconsultingservices.Itofferssolutionsforembeddedandreal-timesystemssuchasautonomoussystems,smartphones,connectedcars,advancedairtrafficcontrol,andsmartsensors.
03/10/14 RimacAutomobili 12.5 ChinaDynamics;IntegratedAssetManagement
RimacAutomobiliengagesinthedesign,development,andmanufactureofelectricvehicles,drivetrains,andbatterysystems.Itsproductsincludeinfotainmentsystems,lowvoltageelectricsystems,andauxiliarysystems.
03/05/14 INRIX 55.0 PorscheAutomobilHolding INRIXisabigdatatechnologycompanythatprovidesreal-timetrafficinformation,transportationanalytics,andconnecteddriverservices.
02/28/14 Hakuto 2.2 TheMasterTrustBankofJapan Hakutodistributeselectronicandelectricequipment,semiconductordevices,andelectroniccomponents.ItselectroniccomponentscompriseEMI,thermal,antennaandreception,andwirelessM2Mandtelematicssolutions.
12/11/13 UIEvolution 8.0 IntelCapital;ShawVentures UIEvolutionprovidessoftwaresolutionsandservicesthatconnectbrandswiththeircustomers.It'sproductsconnectdriversandtheirvehicles,aswellasallowsautomotiveOEMsandcontentproviderstodrivecustomersatisfaction.
12/04/13 Zenhavior 0.0 PlugandPlayTechCenter Zenhavioroffersasmartphone-basedtelematicssolutionfordriverbehaviormonitoringandanalytics.
10/09/13 Telepath 0.8 EnterpriseVentures;TheNorthWestFund
Telepathfocusesondevelopingandimplementingtelematicsandbusinessintelligencetechnologysolutionsforbusinesses.
16
SelectedPrivatePlacementAcEvity(conEnued)
Source:CapitalIQ,451ResearchandWoodsideCapitalPartnersesSmates
Date Company Amount($M) Investors BusinessDescription09/23/13 W-locate 1.6 PTRHBOSKAssetManagement W-locateisalocationtechnologycompanythatprovidestrackingsolutionsforvehiclefleetandworkforcemanagement
applications.Itssolutionscombinetrackingandtelematicstechnologieswithbusinessanalytics.
09/16/13 Zubie 10.0 Comporium;OPENAIREquityPartners;CastrolInnoVentures
Zubieprovidesakeytotrackvehicles,checkenginelightinterpretation,detectlowbattery,monitorandcoachdrivingscore,andcompetewithfriendsusingleaderboards.
08/05/13 DrivewaySoftware 1.3 KernelCapital;IMI.VC;AltairCapitalManagement
DrivewaySoftwareprovidessmartphone-basedtelematicssolutionsfortheusage-basedautoinsurancemarket.
05/29/13 Kerlink 1.9 Sudinnova;CM-CICCapitalInnovation
KerlinkdevelopsandmarketsM2McommunicationsolutionsthatconnectremoteequipmenttoITsystems.Itsproductsallowfortelemetricandtelecollection,roamingandembeddedtelematicsapplicationsformanagingfleet.
05/16/13 W-locate 0.5 TNFVentures W-locateisalocationtechnologycompanythatprovidestrackingsolutionsforvehiclefleetandworkforcemanagementapplications.Itssolutionscombinetrackingandtelematicstechnologieswithbusinessanalytics.
04/24/13 RuetzTechnologies NA S-PartnerKapital RuetzTechnologiesprovidesspecialistengineeringservices.Thecompanyalsoengagesinthedesign,development,integration,andimplementationofinfotainmentsolutionsforvehicles.
04/01/13 Airbiquity NA NXTCapitalVentureFinance Airbiquityprovidesconnectedvehicleservicesandautomotivetelematicstechnologysolutions.
02/01/13 LoksysSolutions 0.8 EnterpriseVentures;TheNorthWestFund
LoksysSolutionsdevelopsaportfolioofsecurityandtrackingdevicesfortheintermodalfreightandroadtransportsystems.
PUBLICCOMPANYOVERVIEW
18
StockPricePerformanceofSystemLevelCompaniesvs.NASDAQ
Source:CapitalIQresearchasofMarch24,2015
NASDAQCompositeIndex
Index:Alpine,Bosch,Clarion,ConEnental,Delphi,Denso,Harman,JVC,LG,MitsubishiElectric,Mobileye,Pioneer,Siemens,SeeingMachines,SiriusXM,TRW,Verizon,Visteon,Voxx
90%
95%
100%
105%
110%
115%
120%
19
PublicCompanyOverview
Semiconductors
Note:NumberofacquisiSonssince2008 Source:CapitalIQandWoodsideCapitalPartnersesSmates AsofMarch24,2015
Company MarketCap Cash Debt Acquisitions BusinessDescription$27,087 $3,606 $1,593 15 Broadcomprovidessemiconductorsolutionsforwiredandwirelesscommunications.
148,284 14,401 13,729 51 Inteldesigns,manufactures,andsellsintegrateddigitaltechnologyplatforms.
8,032 2,530 0 4 Marvelldesigns,develops,andmarketsanalog,mixed-signal,digitalsignalprocessing,andembeddedandstandaloneARM-basedmicroprocessorintegratedcircuits.
12,905 4,623 1,398 7 Nvidiaprovidesgraphicschipsforuseinsmartphones,personalcomputers,tablets,andprofessionalworkstationsmarkets.
25,126 1,185 3,999 8 NXPprovidesmixedsignalsolutionsandstandardproducts.
115,535 17,788 0 30 Qualcommdesigns,develops,manufactures,andmarketsdigitaltelecommunicationsproductsandservices.
12,132 2,808 2,188 2 Renesasengagesintheresearch,development,design,manufacture,sale,andservicingofsemiconductorproducts.
8,501 2,351 1,805 5 STMicroelectronicsengagesinthedesign,development,manufacture,andmarketingofarangeofsemiconductorintegratedcircuitsanddiscretedevices.
62,075 3,541 4,642 10 TexasInstrumentsengagesinthedesignandsaleofsemiconductorstoelectronicsdesignersandmanufacturers.
20
PublicCompanyOverview(conEnued)
Tools,CustomSystems
Note:NumberofacquisiSonssince2008
Company MarketCap Cash Debt Acquisitions BusinessDescription$243 $206 $0 NA AccessprovidesmobilecontentdeliveryandInternetaccesstechnologiesworldwide.
17,461 1,423 436 27 DassaultSystemesprovidesvariousthreedimensionssoftwareapplicationsandservicesworldwide.
171 26 0 NA Eneaprovidesreal-timeoperatingsystems,andsupplementarysoftwareandservices;andtechnicalconsultancyservices.
9,493 1,364 0 12 Garmindesigns,develops,manufactures,andmarketsGPSenabledproductsandothernavigation,communication,andinformationproducts.
21,836 1,510 99 1 HCLprovidessoftware-ledITsolutions,remoteinfrastructuremanagement,engineering,researchanddevelopmentandbusinessprocessoutsourcingservices.
1,154 61 0 11 Huaweiisengagedintheresearchanddevelopment,design,manufacture,andmarketingoftoyseriesthatintegratebotheducationalandentertainmentfunctionsinChina.
3,532 190 686 NA iGATEprovidesoutsourcedinformationtechnologyandIT-enabledoperationssolutionsandservices.
40,963 5,319 0 3 Infosysprovidesbusinessconsulting,technology,engineering,andoutsourcingservices.
2,372 72 22 NA Melexisdesigns,develops,tests,andmarketsmixedsignalsemiconductors,sensorintegratedcircuitsandprogrammablesensorICsystemsforconsumer,medical,andindustrialmarkets.
2,838 230 238 20 MentorGraphicsprovideselectronicdesignautomationsoftwareandhardwaresolutionstoautomatethedesign,analysis,andtestingofcomplexelectro-mechanicalsystems.
28,625 9,604 3,301 14 Nokiaprovidestelecommunicationsinfrastructurehardware,software,andservices.
87,057 4,078 13,418 25 Sybaseprovidesdatamanagement,analytics,mobilemessaging,andenterprisemobilitysolutions[SAPFinancials].
Source:CapitalIQandWoodsideCapitalPartnersesSmates AsofMarch24,2015
21
PublicCompanyOverview(conEnued)
Tools,CustomSystems(conUnued)
Note:NumberofacquisiSonssince2008
Company MarketCap Cash Debt Acquisitions BusinessDescription$7,243 $917 $303 20 Synopsysprovidescoreelectronicdesignautomationsolutions.
82,103 2,478 53 5 Tataprovidesinformationtechnologyservices,businesssolutions,andoutsourcingservices.
331 128 0 4 TeleNavprovidespersonalizednavigationandlocationbasedservices.
1,788 185 59 4 TomTomprovideslocationandnavigationproductsandservices.
6,718 148 738 51 Trimbleprovidestechnologysolutionstoincreasetheworkprocessesofofficeandmobilefieldprofessionalsworldwide.
148,284 14,401 13,729 49 WindRiverprovidesembeddedandmobilesoftware(IntelCorpfinancials).
25,385 3,676 1,101 10 Wiproprovidesinformationtechnologyproductsandservices,andconsumercareandlightingproducts.
Company MarketCap Cash Debt Acquisitions BusinessDescription$727,802 $32,664 $36,403 30 Appledesigns,manufactures,andmarketsmobilecommunicationandmediadevices,personal
computers,andportabledigitalmusicplayers.
5,077 2,771 1,657 20 BlackBerryprovideswirelesscommunicationssolutionsworldwide.
379,836 62,633 8,015 138 Googlebuildsproductsandprovidesservicestoorganizetheinformation.
192,536 56,576 10,321 50 Samsungengagesinthemanufacture,distribution,andsaleoffinishedelectronicproductsanddevicesolutions.
PlaMorm
Source:CapitalIQandWoodsideCapitalPartnersesSmates AsofMarch24,2015
22
PublicCompanyOverview(conEnued)
SystemLevel
Note:NumberofacquisiSonssince2008
Company MarketCap Cash Debt Acquisitions BusinessDescription$1,125 $448 $0 1 Alpinedevelops,manufactures,andsellsaudioproductsforautomobiles,andinformationand
communicationproductsinJapanandinternationally.
48,848 4,389 7,785 NA BoschmanufacturesandtradesinautomotiveproductsinIndiaandinternationally.
827 77 291 1 Clarionmanufacturesandsellsin-vehicleequipmentinJapan,theAmericas,Europe,China,India,andotherASEANcountries.
23,277 904 2,451 9 Continentalprovidesvariousproductsandservicesprimarilyfortheautomotiveindustryworldwide.
38,849 7,715 3,376 4 Delphimanufacturersvehiclecomponents;andprovideselectricalandelectronic,powertrainandsafetysolutionstotheautomotiveandcommercialvehiclemarketsworldwide.
9,369 513 415 14 Densosuppliesautomotivetechnology,systems,andcomponentsforautomakersworldwide.
9,257 2,118 8,248 11 Harmandevelops,manufactures,andmarketsaudioproductsandelectronicsystems,aswellasdigitallyintegratedaudioandinfotainmentsystemsfortheautomotiveindustryworldwide.
424 402 615 8 JVCengagesinthecarelectronics,professionalsystems,opticalandaudio,andentertainmentsoftwarebusinessesinJapan,theUnitedStates,Europe,Asia,andinternationally.
26,206 3,778 3,221 12 LGisengagedinthemanufactureandsaleofconsumerelectronicsundertheLGnameworldwide.
690 374 644 12 MitsubishiElectricmanufacturesandsellselectricalandelectronicproductsandsystemsworldwide.
9,637 373 0 NA Mobileyedesignsanddevelopssoftwareandrelatedtechnologiesforcamera-basedadvanceddriverassistancesystemsprimarilyinIsrael.
13,564 404 12 2 Pioneerisengagedinthedevelopment,manufacture,andsaleofelectronicproductsprimarilyinJapan,NorthAmerica,Europe,China,andinternationally.
Source:CapitalIQandWoodsideCapitalPartnersesSmates AsofMarch24,2015
23
PublicCompanyOverview(conEnued)
SystemLevel(conUnued)
Note:NumberofacquisiSonssince2008
Company MarketCap Cash Debt Acquisitions BusinessDescription$91,147 $14,483 $28,063 35 Siemensoperatesasanelectronicsandelectricalengineeringcompanyworldwide.
74 17 0 0 SeeingMachines,atechnologycompany,providescomputervisionbaseddrivermonitoringsystemsoftwareworldwide.
1,092 207 1 5 SierraWirelessprovidescellularwirelesssolutionstothemachine-to-machineandconnecteddevicemarketsinNorthAmerica,Europe,andtheAsiaPacific.
22,214 148 4,501 1 SiriusXMprovidessatell iteradioservicesintheUnitedStates.
12,055 1,031 1,578 2 TRWdesigns,manufactures,andsellsautomotivesystems,modules,andcomponentstoautomotiveOEMsandrelatedaftermarkets.
205,942 11,153 113,487 4 VerizonTelematicsprovidesconnectedservicesforautomobiles.Thecompanydevelopsandmanagesvehicle-anddriver-centricsolutions.[FinancialsfromparentcompanyVerizon]
4,391 822 981 4 Visteondesigns,engineers,andmanufacturesproductsfororiginalequipmentvehiclemanufacturersworldwide.
214 12 103 4 Voxxoperatesasamanufactureranddistributorintheautomotive,premiumaudio,andconsumeraccessoriesindustriesintheUnitedStatesandinternationally.
Source:CapitalIQandWoodsideCapitalPartnersesSmates AsofMarch24,2015
24
PublicCompanyOverview
OriginalEquipmentManufacturers
Note:NumberofacquisiSonssince2008
Company MarketCap Cash Debt Acquisitions BusinessDescription$81,198 $13,665 $93,816 4 BMWdevelops,manufactures,andsellscarsandmotorcyclesworldwide.
103,632 7,737 104,931 23 Daimlerdevelops,produces,distributes,andsellspassengercarsandoff-roadvehicles,trucks,vans,andbusesworldwide.
20,967 27,954 40,884 2 FiatChryslerdesigns,engineers,manufactures,distributes,andsellsvehiclesandcomponents.
65,550 21,702 119,171 4 Fordmanufacturesanddistributesautomobilesworldwide.
62,595 25,176 46,841 8 GMdesigns,builds,andsellscars,crossovers,trucks,andautomobilepartsworldwide.
62,260 11,115 57,771 2 Hondamanufacturesandsellsmotorcycles,automobiles,andpowerproducts.
33,467 23,778 49,718 10 Hyundaimanufacturesanddistributesmotorvehiclesandpartsworldwide.
44,734 7,150 57,016 4 Nissanmanufacturesandsellsautomotiveproducts,marineproducts,andrelatedpartsinJapanandinternationally.
26,189 16,077 44,279 9 Renaultdesigns,manufactures,andsellsvehiclesworldwide.
24,911 1,906 2,541 2 Tesladesigns,develops,manufactures,andsellselectricvehicles,electricvehiclepowertraincomponents,andstationaryenergystoragesystems.
229,732 37,900 160,679 14 Toyotadesigns,manufactures,assembles,andsellspassengercars,minivans,commercialvehicles,andrelatedpartsandaccessoriesinJapan,NorthAmerica,Europe,Asia,andinternationally.
125,507 34,260 131,510 18 VolkswagenmanufacturesandsellsautomobilesprimarilyinEurope,NorthAmerica,SouthAmerica,andtheAsia-Pacific.
Source:CapitalIQandWoodsideCapitalPartnersesSmates AsofMarch24,2015
SELECTEDCOMPANYPROFILES
26
SelectCompanyProfiles
TTMRevenue:$7.3InvestedCapital:$35.4MAmountLastRound:
$10.4MDateofLastRound:9-13-12NotableInvestors:
IgniUonPartnersAcornVenturesEmployees:114Headquarters:Seaale,WAKeyCustomers:
AirbiquityprovidesconnectedvehicleservicesandautomoEvetelemaEcstechnologysoluEons.ThecompanyoffersacarservicesplaoormthatconnectsvehiclesandprocessestransacEons,aporoolioofsmartphoneapplicaEonsandcloudcontentthatoffersdriverswithaconnectedcarexperienceanditsplaoormalsoprovidesconnecEvityandintegraEonforcardrivers;lifecyclemanagementservicesformanagementofconnectedcarprograms;andenduserandcallcentermanagement,andbusinessintelligenceservices.
ü RecentlysecuredamulU-yearpartnershipwithAT&T
ü AirbiquityChoreo™isusedbyNissan,InfiniU,FCA,FordandRenault
ü AirbiquityplaMormsupports5millionvehiclesin50+countries
û LimitaUonswithAppleCarPlay
TTMRevenue:NAInvestedCapital:UndisclosedAmountLastRound:
UndisclosedDateofLastRound:1-14NotableInvestors:
YCombinatorEmployees:10Headquarters:SanFrancisco,CAKeyCustomers:NA
CruiseAutomaEondevelopsCruiseRP-1,ahighwayautopilotsystemforcars.Thecompany’sproductsfeatureprecisionsteering,carandlanetracking,adapEvespeedcontrol,andcollisionavoidance.
ü Thefirstcompanytoofferaproducttothepublicwithself-drivingcapabiliUes
û SmallProducUon:OnlyavailableforAudi;only50releasedinthefirstrun
û OnlyprogrammedforhighwaysintheSanFranciscoBayArea
FinancialSnapshot($M)CompanyDescripUon OpportuniUes/Challenges
GEOSemiconductorprovidesgeometricprocessing,imagesignalprocessing,andvideocompressionsoluEonstoaddressvariouscameraandprojecEonproducts.ItoffersageometricprocessingengineforcorrecEngdistorEonsinultra-wideanglecamerasandprojecEonsystems,cloudso[waresoluEonsthathelpcompaniestoconnectandmanagetheirvideoproductsthroughthecloudtosmartphonesandtablets.
TTMRevenue:NAInvestedCapital:$33.9MAmountLastRound:
$5.7MDateofLastRound:6-12-13NotableInvestors:
PanasonicMontageCapitalEmployees:72Headquarters:SantaClara,CAKeyCustomers:
ü Currentlyraising$25-30MtoentertheautomoUveandIoTcameramarkets
ü Recentlypartneredwithlow-powerWi-Fi“System-on-a-Chip”supplierGainSpan
û AutomoUveindustryhasalongadopUonperiodfornewtechnology
27
SelectCompanyProfiles(conEnued)
Inrixisabigdatatechnologycompanythatprovidesreal-EmetrafficinformaEon,transportaEonanalyEcs,andconnecteddriverservices.ThecompanyoffersasoluEonthatoffersreal-EmeandpredicEvetrafficinformaEon,INRIXXDIncidentsthatimmediatelydetectsincidentsandroadclosuresandconnectedcarservicesincludingparking,fuelPOI,pricing,localsearchandgeocoding,trafficcameras,rouEngandinter-modalrouEng,driveEmesanddriveEmepolygons,EVrangefinderandchargingstaEons,andweatheralerts.
TTMRevenue:$3.6MInvestedCapital:$143.1MAmountLastRound:
$10MDateofLastRound:11-5-14NotableInvestors:
IntelCapitalKPCBEmployees:278Headquarters:Kirkland,WAKeyCustomers:
ü Received$55MfromPorscheatavaluaUonof$550MinQ32014
ü Expandingpasttrafficdataintoconnectedcarservices
ü Volkswagen,BMW,Ford,BBC,TheWeatherChannelanddozensofTVandradiostaUonsuseINRIXtrafficdata
û VerycompeUUvemarket
Mojioprovidesacloud-connectedcellularandGPSdevicethatconnectstovariouscarsforinsightsintowhat’shappeningunderthehoodandbehindthewheel.Thedeviceincludesawaytosafelyconnect–orreconnect–withfamilyandfriendswhileaclientisonthegothroughpersonalizedprompts,messages,andgeo-locaEonfeatures;andavirtualdrivingassistantreadytoanalyzeandinterpretdatafromclient’scar.
TTMRevenue:NAInvestedCapital:$10.3MAmountLastRound:
$8MDateofLastRound:3-24-15NotableInvestors:
500StartupsDeutscheTelekomEmployees:25Headquarters:Vancouver,BC,CanadaKeyPartnerships:
ü Recentlylaunchedplug-incarmodulethatconnectsunconnectedcarsusingAT&TandTelusnetworks
ü Raised$8MinSeriesAfundingledbyTelekomCapital
û Carmodulerequires$5monthlyfee;consumerspayforconstantconnecUon,notdataplan
FinancialSnapshot($M)CompanyDescripUon OpportuniUes/Challenges
OpenCarprovidesaplaoormforin-vehicleapplicaEondevelopment.ThecompanyoffersOpenCarSDKthatprovidestemplatesforawidevarietyofapplicaEoncategories,OpenCarTelemaEcsthatallowsstandardizedandsecuredaccesstoautomoEvetelemaEcs,OpenCarInsideTrackthatprovidescomprehensivedevelopersupport,OpenCarAppCerEficaEonthatallowsforpublisherstoquicklymeetqualityandsafetystandardsandOpenCarAppLifecycleAnalyEcsthatenablesautomakerenterprisesystemintegraEonforinsightsaboutdrivers,cars,diagnosEcsandperformance.
TTMRevenue:NAInvestedCapital:NAAmountLastRound:
NADateofLastRound:NANotablePartnerships:
MazdaEmployees:15Headquarters:Seaale,WAKeyPartnership:
ü RecentlybecamestrategicpartnerswithMazda
ü NewVPhelpeddeliverinfotainmentsoluUonsforToyota,Lexus,Chrysler,Fordandmore
ü ParUcipatesintheAutomoUveandWebPlaMormBusinessGroup
û Open-sourcerepresentsasmallerporUonofthemarket
28
SelectCompanyProfiles(conEnued)
FinancialSnapshot($M)CompanyDescripUon OpportuniUes/ChallengesSygicprovidesnavigaEonso[waretocustomersworldwide.ThecompanyoffersanofflinenavigaEonapplicaEonforAndroidOSandiOS,professionalnavigaEonsoluEonsandajobmanagementtoolthatallowsuserstocreateandassignjobstotheirmobileworkforce,tracktheirdrivers,andseejobprogressinreal-Eme;andspecificautomoEvesoluEons.
TTMRevenue:NAInvestedCapital:UndisclosedAmountLastRound:
UndisclosedDateofLastRound:NANotableInvestors:
NAEmployees:115Headquarters:BraUslava,SlovakiaKeyCustomers:
ü Theworld’smostdownloadedofflinenavigaUonapp~60M+downloads
ü Acquiredturn-by-turnGPSnavigaUonapplicaUonBe-On-Road
û MarketcurrentlydominatedbymajorplayersAppleandGoogle
Telogisprovidesacloud-basedlocaEonintelligenceso[wareplaoorm.Thecompany’splaoormsoluEonsincludeTelogisFleetthatprovidesreal-EmelocaEonandstatusforvariousassetsononedashboard,aSo[ware-as-a-ServiceworkordermanagementsoluEon,TelogisMobilethatenablescompaniestostayconnectedtotheirworkersandTelogisRoutethatreducesmilesandtravelEmeswithopEmizedplannedroutesandinstantreroutes,aswellasactualvs.plannedreporEng.
TTMRevenue:NAInvestedCapital:$95MAmountLastRound:
UndisclosedDateofLastRound:10-27-14NotableInvestors:
GMVenturesKPCBEmployees:551Headquarters:AlisoViejo,CAKeyCustomers:
ü Co-Developed,withFord,anOEMtelemaUcssoluUonforlawenforcementvehicles
ü ReceivedastrategicinvestmentfromGMVentures
ü RecentlypartneredwithVolvoTrucks
û InvestmentfromautovendorsmayrestrictexitopportuniUes
SeeingMachinesprovidescomputervisionbaseddrivermonitoringsystemso[wareworldwide.Thecompany’sso[wareandengineeringservicesareusedinproductsandapplicaEonsthatrangefromdevicesthatimprovedriversafetyandsavelivestoassessingtraineesinsimulatorsandsimplifyingtherelaEonshipsbetweenpeopleandtechnology.ItsproductsincludeDSSproductsuitetodetectandmanagedriverfaEgueanddistracEon,includingconEnuedmarketdevelopmenttosecurechannelstomarketfortheproduct;andFOVIOresearchplaoormforeyegazetracking.
TTMRevenue:$13MInvestedCapital:$9.5MAmountLastRound:
$8.7MDateofLastRound:12-05(IPO)NotableInvestors:
VolvoEmployees:90Headquarters:Canberra,AustraliaKeyPartnerships:
ü SignedadealwithCaterpillartoprovide24/7monitoringandanalyUcstotheircustomersusingSeeingMachines
ü RecentlysignedpartnershipswithTakataandSamsungMicro-Electronics
ü Currentlyhasaquarterofit’smarketcap–$22.2M–inliquidcash
û Early-stagetechnologycompany;longadopUonperiod
29
SelectCompanyProfiles(conEnued)
FinancialSnapshot($M)CompanyDescripUon OpportuniUes/ChallengesTTTechprovidesnetworkedsafetycontrolsforautomoEve,aerospace,off-highway,energyproducEon,railwayandindustrialmarkets.Itofferselectroniccontrolunits,tesEngtools,automoEveEthernet,andserviceandsupport,aswellassafetyso[warefortheautomoEveindustry;visualizaEon/HMIinterfaces,determinisEcEthernetswitches,ruggedboardsandendpoints,anddevelopmentandtestequipment;andflightandruggedhardware,includingswitches,endsystems,andcomponents.
TTMRevenue:$38.1MInvestedCapital:$54.7MAmountLastRound:
$54.7MDateofLastRound:3-25-15NotableInvestors:
AudiGEEmployees:400Headquarters:Vienna,AustriaKeyCustomers:
ü MulU-DisciplinaryPartnershipwithAuditopushautonomoustechnology
ü PartneredwithWindRivertodevelopautonomousdrivingandautomoUveapplicaUons
ü Recentlyraised€50MfromGEandInfineonTechnologies
û AllmodulesmustobtainAutomoUveSafetyIntegrityLevel(ASIL)cerUficaUon;slowingR&D
WOODSIDEOVERVIEW
31
§ Aglobal,independentinvestmentbankthatdeliversworld-classstrategicandfinancialadvicetoemerginggrowthcompaniesintheSo[ware,HardwareandInternetsectors
§ Foundedin2001;over$8billionintransacEonvalue
§ M&A,strategicpartnershipandcorporatefinanceadvisoryin:̶ TelecomandNetworking̶ So[wareandInternetTechnologies̶ DigitalMediaandAdverEsing̶ Semiconductors,ElectronicsandComponents̶ Cross-borderTransacEons
§ SiliconValley-based,withofficesinLondon
§ WCPResearch–offerstechnologyresearchservingbuy-sideinsEtuEonalinvestorsandtechnologyindustryexecuEves
§ 25professionals:backgroundsasentrepreneurs/CEOsandfromtopinvestmentbanks
§ SiliconValleyheadquartersofM&AInternaEonal
WoodsideCapitalPartners–WhoWeAre
32
WCP’sMASiV&TM&AEurope
RepresentaUve2014Aaendees:
ConsumerInternetandMobile:AndreessenHorowitz–JamieMcGurk,PartnerDeloiwe–GarrewHerbert,Partner,M&AGoogle–DaveSobota,SrDir,CorpDevIntuit–KevinJacques,Director,CorpDevOperaSo[ware–ErikHarrell,CFOSquare–RishiGarg,Head,CorpDevTelefonicaDigital–JenniferVancini,SrDir,BusDevVISA–LesterLiu,GlobalM&AandCorpDevYahoo!–StevenFan,MobileCorpDevCloudandEnterprise:Autodesk–DavidHindley,SrDir,CorpDevBox–NiallWall,SVP,BusinessandCorpDevBMCSo[ware–ClarenceHinton,VP,CorpDevCitrix–MikeCrisEnziano,CorpVPEMC–MawOlton,SVP,CorpDevIBM–ClaudiaMunce,VP,StrategyandVentureSalesforce–JohnSomorjai,SVP,CorpDevSamsung–KevinMorrow,VP,Partnership&BusDevSAP–MontyGray,CorpDevSAPCloud–RoyNg,SVPandCOOStormVentures–JasonLemkin,ManagingDirector
33
WCPhostsGSAGlobalSemiconductorAllianceconference
FeaturedSpeakers:BestBuy–RobertStephens,formerCTOCEA–GaryShapiro,President&CEOOracle–SridharVajapey,VP,HardwareEngineeringOUYA–JulieUhrman,CEORoku–JimFunk,VP,ProductManagementSamsungElectronicsN.A.–Dr.DavidSteel,EVP,StrategySynopsys–Dr.AartdeGeus,Chairman&CEO
WCPForgingCloseIndustryRelaEonships
GLOBALREACH
35
WCP:AGlobalPerspecEve
SelectedWoodsideCapitalPartnersEngagementsSelectedWoodsideCapitalPartnersAcquiror/StrategicPartners
Colorado(2)
SFBayArea(45)SFBayArea(27)
UK(14)UK(4)
Ireland(3)
Tokyo(3)
SingaporeSingapore(2)
Denmark
NewYork(2)NewYork(3)Maryland(2)NewJersey(3) Shenzhen
Redmond(2)
Missouri(2)
SaltLakeCity(2)
France
Sweden
SanDiegoSanDiego(2)
Minneapolis
CalgaryPennsylvania
HongKong
Germany
LosAngeles(4)LosAngeles AusEn(3)
AusEnGeorgia(4)
Pennsylvania(4)
Houston(2)
Boston(4)Boston
ShanghaiSwitzerland(2)
IrelandGermany
Portland
Virginia(2)
Bangalore
Malaysia
Taiwan(2)
Kyoto
Shenzhen
Illinois(2)OhioOhio
Florida
WashingtonD.C.
France(2)
MinnesotaIllinois
GeorgiaSaudiArabia
Minnesota
Tokyo
Vermont
Osaka
36
M&AInternaEonalGlobalCoverage
0 20 40 60 80 100 120 140 160 180 200
PWC
Lazard
MorganStanley
GoldmanSachs
Ernst&Young
Rothschild
Deloitte
MAIInternational
KPMG
PwC
ChartTitle
WoodsideCapitalisamemberofM&AInternaUonal,theworld’sleadingM&Aalliancesince2001
§ M&AInternaEonalhas45membersin39countriesinAmerica,Europe,Asia,SouthAfricaandAustralia
§ ThemembersM&AInternaEonaladvisedon336transacEonsin2013,including70cross-borderdeals,foratotalvalueofUS$18.2billion
§ M&AInternaEonalistheleadingM&AalliancebyvolumefortransacEonsbetweenUS$5-250million
DealscompletedfromUS$5-250million.Source:www.mergermarket.comM&AInternaEonalInc.
GlobalMid-Market–2014byVolume(valueinUS$)
No.ofTransacSons
PwC
KPMG
M&A International
Deloitte
Rothschild
Ernst & Young
Morgan Stanley
Goldman Sachs
Lazard
165
150
97
95
66
56
62
53
50
(16.6B)
(19.9B)
(6.3B)
(14.6B)
(23.1B)
(11.3B)
(23.3B)
(20.0B)
(15.4B)
(17.3B)
175
JP Morgan
37
AdvantagesofM&AInternaEonal
§ M&AInternaEonaliscomposedof45memberfirmsthroughouttheworld
§ MembersareleadingM&Aadvisoryfirmsintheircountriesandregions
§ EachM&AInternaEonalfirmhasampleexperience,industryknowledgeanddeepaccesstothecorporatesegmentoftheirmarkets
§ ThisnetworkprovideseachmemberfirmwithuniquecoverageandresourcestoidenEfyandcontactpotenEalbuyersorinvestorsforcompaniesbeingsoldbyWoodsideCapital
LocalKnowledge
andExecu;on
GlobalCoverage
IndustryExper;se
WoodsideCapitaloffersextensiveknowledgeofthelocalandregionalmarketscoupledwithhighqualityexecuSoncapabiliSes.
ThroughM&AInternaSonalweareposiSonedtoprovideourclientswithglobalcoverageandanunparalleledaccesstoglobalstrategicplayers.
M&AInternaSonalmemberfirmsindustryexpertsandlocalrelaSonshipspermitourfirmtoidenSfyandcontactpotenSalinvestorsinyourindustry.
WCPCONTACTINFORMATION
39
WCPContactInformaEon―MainContacts
TriciaSalineroPartner,ManagingDirector
+16505132758tricia.salinero@woodsidecap.com
GregMischouPartner,ManagingDirector
+16505132757greg.mischou@woodsidecap.com
AmarSenanManagingDirector+16505132768
amar.senan@woodsidecap.com
KirkBloedeManagingDirector+16505132761
kirk.bloede@woodsidecap.com
ShusakuSumidaManagingDirector+16505132760
Shusaku.sumida@woodsidecap.com
RudyBurgerManagingPartner+16505132755
rudy.burger@woodsidecap.com
40
WCPContactInformaEon―AddiEonalTeam
MikePowellPartner,ManagingDirector
+011442074882772mike.powell@woodsidecap.com
RonHellerManagingDirector+16505132762
ron.heller@woodsidecap.com
InduNavarManagingDirector+16505132774
indu.navar@woodsidecap.com
KellyPorterPartner,ManagingDirector
+16505132756kelly.porter@woodsidecap.com
JonThomasManagingDirector+16505132763
jon.thomas@woodsidecap.com
PerSelbekkManagingDirector
+011447782325319per.selbekk@woodsidecap.com
RohanJainAnalyst
+16505132767rohan.jain@woodsidecap.com
QasimMirzaAnalyst
+442078614055qasim.mirza@woodsidecap.com
MonicaMarianiVicePresident+16505132773
monica.mariani@woodsidecap.com
EvanPopeAnalyst
+16505132766evan.pope@woodsidecap.com
RezaHelaliAssociate
+16505132772reza.helali@woodsidecap.com
41
SiliconValleyandUKPresence
SiliconValleyOffices1530PageMillRoad,Suite200PaloAlto,California94304Tel:+16505132775UKOfficesRiverbankHouse2SwanLane,7thFloorLondon,EC4R3TT
Tel:+442079290248
DISCLAIMER
42
Disclaimer:TheInformaEonandopinionsinthisreporthavebeenpreparedbyWoodsideCapitalSecuriEes,LLC.Thisreportisforourclientsonly.ThisreportisintendedonlyforthepersonalandconfidenEaluseofthedesignatedrecipient(s).IfyouarenottheintendedrecipientofthisreportyouareherebynoEfiedthatanyreview,disseminaEon,distribuEonorcopyingofthisreportisstrictlyprohibited.FurtherinformaEononanyoftheabovesecuriEesmaybeobtainedfromouroffices.ThisreportispublishedsolelyforinformaEonpurposes,andisnottobeconstruedasanoffertosellorthesolicitaEonofanoffertobuyanysecurityinanystatewheresuchanofferorsolicitaEonwouldbeillegal.OtherthandisclosuresrelaEngtoWoodsideCapitalSecuriEes,LLCtheinformaEonhereinisbasedonsourceswebelievetobereliablebutisnotguaranteedbyusanddoesnotpurporttobeacompletestatementorsummaryoftheavailabledata.AnyopinionsexpressedhereinarestatementsofourjudgmentonthisdateandaresubjecttochangewithoutnoEce.Periodicupdatesmaybeprovidedoncompanies/industriesbasedoncompanyspecificdevelopmentsorannouncements,marketcondiEonsoranyotherpubliclyavailableinformaEon.ImportantDisclosures:WoodsideCapitalSecuriEes,LLCisnotamarketmakerinanysecuriEesmenEonedinthisreport.WoodsideCapitalSecuriEes,LLCitsofficersandemployeesmayfromEmetoEmeacquire,hold,orsellaposiEoninthesecuriEesmenEonedinthisreport.WoodsideCapitalSecuriEes,LLCcompensatesindividualsforacEviEesandservicesintendedtobenefitthefirm'sinvestorclients.CompensaEondeterminaEonsforindividuals,includingtheauthor(s)ofthisreport,arebasedonavarietyoffactors,andmayincludetheoverallprofitabilityofthefirmandtherevenuesderivedfromallsources,includingrevenuesfrominvestmentbanking.WoodsideCapitalSecuriEes,LLCisaregisteredbroker-dealerandmemberofFINRA(www.finra.org)andSIPC(www.sipc.org).WoodsideCapitalSecuriEes,LLCisanaffiliateofWoodsideCapitalPartnersInternaEonal,LLCandWoodsideCapitalPartnersUK,LLP.OneormoreofthecompaniesmenEonedinthisreportmaybeclientsofWoodsideCapitalSecuriEes,LLC,WoodsideCapitalPartnersInternaEonal,LLCorWoodside
CapitalPartnersUK,LLPThirdPartyDisclosures:Anyanalystopinions,raEngs,andpubliccompanyreportsincludedinthisreportareprovidedbythird-parEesunaffiliatedwithWoodsideCapitalSecuriEes,LLC,WoodsideCapitalPartnersInternaEonal,LLCandWoodsideCapitalPartnersUK,LLP.AllinformaEonsuppliedorobtainedfromthesereportsisforinformaEonalpurposesonlyandshouldnotbeconsideredinvestmentadviceorguidance,anofferoforasolicitaEonofanoffertobuyorsellasecurity,orarecommendaEonoranendorsementbyWoodsideCapitalSecuriEes,LLC,WoodsideCapitalPartnersInternaEonal,LLCandWoodsideCapitalPartnersUK,LLPofanysecurity.WoodsideCapitalSecuriEes,LLC,WoodsideCapitalPartnersInternaEonal,LLCandWoodsideCapitalPartnersUK,LLPmakesnoguaranteesthatinformaEonsuppliedisaccurate,complete,updatedorEmely,anddoesnotprovideanywarranEesregardingresultsobtainedfromitsuse.
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