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Software Equity Group

Flash Report

Select M&A Transactions and Valuations and

Financial and Valuation Performance of 250+ Publicly Traded Software, SaaS and Internet

Companies by Product Category

• Industry leading boutique investment bank founded in

LEADERS IN SOFTWARE M&AIndustry leading boutique investment bank, founded in 1992, representing public and private software and internet companies seeking:

• Strategic exit• Growth capital

We Do Deals.

Growth capital• Buyout • Inorganic growth via acquisition• Buy and sell-side mentoring• Fairness opinions and valuationsFairness opinions and valuations

• Sell-side client revenue range: $5 - 75 million• Buy-side clients include private equity firms and

NASDAQ, NYSE and foreign exchange listed companies• Clients span virtually every software technology, product

category, delivery model and vertical market• Global presence providing advice and guidance to more

th 2 000 i t d bli i th h t USthan 2,000 private and public companies throughout US, Canada, Europe, Asia-Pacific, Africa and Israel

• Strong cross-functional team leveraging transaction, operating, legal and engineering experience

• Unparalleled software industry reputation and track record.

• Highly referenceable base of past clients

Copyright © 2013 by Software Equity Group, LLC

EXTENSIVE GLOBAL REACH

Current Sell-side Representation

• SEG currently represents software companies in the United States, Canada, France,

Recent Sell-side Representation

Germany, Australia & Saudi Arabia

• In addition to the countries listed above, SEG has recently represented software companies in the United Kingdom, France, Netherlands, Israel, and South Africa

SEG Research Distribution

• SEG’s Quarterly and Annual Software Industry Equity Reports and Monthly Flash Reports are q y p y pdistributed to an opt-in list of 50,000 public software company CEOs, software entrepreneurs, private equity managing directors, VCs, high tech corporate lawyers, public accountants, etc. in 76 countries.


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Software Equity Group is an investment bank and M&A advisory serving the software and technology sectors. Founded in 1992, our firm has guided and

ABOUT SOFTWARE EQUITY GROUPq y p y g gy , g

advised companies on five continents, including privately-held software and technology companies in the United States, Canada, Europe, Asia Pacific, Africa and Israel. We have represented public companies listed on the NASDAQ, NYSE, American, Toronto, London and Euronext exchanges. Software Equity Group also advises several of the world's leading private equity firms. We are ranked among the top ten investment banks worldwide for application software mergers and acquisitions.

Our value proposition is unique and compelling We are skilled and accomplished investment bankers with extraordinary software internet and technologyOur value proposition is unique and compelling. We are skilled and accomplished investment bankers with extraordinary software, internet and technology domain expertise. Our industry knowledge and experience span virtually every software product category, technology, market and delivery model, including Software-as-a-Service (Saas), software on-demand and perpetual license. We have profound understanding of software company finances, operations and valuation. We monitor and analyze every publicly disclosed software M&A transaction, as well as the market, economy and technology trends that impact these deals. We're formidable negotiators and savvy dealmakers who facilitate strategic combinations that enhance shareholder value.

P h t i t t th l ti hi ' b ilt d th i d t t ti j S ft E it G i k d t d b bli lPerhaps most important are the relationships we've built and the industry reputation we enjoy. Software Equity Group is known and respected by publicly traded and privately owned software and technology companies worldwide, and we speak with them often. Our Quarterly and Annual Software Industry Equity Reports are read and relied upon by more than thousands of industry executives, entrepreneurs and equity investors in sixty-one countries, and we have been quoted widely in such leading publications as The Wall Street Journal, Barrons, Information Week, The Daily Deal, The Street.com, U.S. News & World Report, Reuters, Mergers & Acquisitions, USA Today, Arizona Republic, Detroit Free Press, Entrepreneur Magazine, Softletter, Software Success, Software CEO Online and Software Business Magazine. g

To keep your finger on the pulse of the software equity markets, subscribe to our Annual and Quarterly Research Reports.

Software Equity Group is an investment bank and M&A advisory serving the software and technology sectors. For a confidential consultation without obligation, [email protected] , 2800-509) 858Beible, Director, Business Development (Kris please contact

CONTACT INFORMATION:

Software Equity Group, L.L.C.12220 El Camino Real, Suite 320San Diego, CA 92130www softwareequity comwww.softwareequity.comp: (858) 509-2800

The information contained in this Report is obtained from sources we believe to be reliable, but no representation or guarantee is made about the accuracy or completeness of such information, or the opinions expressed herein. Nothing in this Report is intended to be a recommendation of a specific security or company or intended to constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any security. Software Equity Group LLC may have an interest in one or more of the securities or companies discussed herein. Financial data provided by Capital IQ.


This Report may not be reproduced in whole or in part without the expressed prior written authorization of Software Equity Group, L.L.C.Software Equity Group registers each Report with the U.S. Copyright Office and vigorously enforces its intellectual property rights.

CRM Customer Relationship ManagementEBITDA Earnings before Interest, Taxes, Depreciation, and AmortizationERP Enterprise Resource PlanningEV Enterprise ValueFCF Free Cash FlowFORWARD Current EV / Next Four Quarters' Consensus Financial EstimatesNASDAQ National Association of Securities Dealers Automated Quotation System

List of Commonly Used Acronyms

NASDAQ National Association of Securities Dealers Automated Quotation SystemPLM Product Lifecycle ManagementR&D Research and DevelopmentS&P Standard & Poor'sSaaS Software-as-a-ServiceSEG Software Equity GroupSG&A Selling, General, & AdministrativeSW SoftwareTTM Trailing Twelve MonthYoY Year-over-YearYTD Year-to-date

Copyright © 2013 by Software Equity Group, L.L.C., All Rights Reserved

Software Industry M&A TransactionsMay 2013


Select May 2013 Software Industry M&A Transactions

Date Announced Target

Target TTM Revenue

($mm)

Enterprise Value

($mm)EV/

RevenueEV/

EBITDAMay-31-2013 Repunomics RemoveMyMu - - - -May-31-2013 Star MediaWorks Sdn Bhd; Star Commercial Publications Ocision Sdn - - - -May-30-2013 Uscom Limited (ASX:UCM) Pulsecor - $4.8 - -May-30-2013 Digital Publishing Initiatives Japan Co., Ltd. Bitway Co., - $1.0 - -May-30-2013 I Dream Of Space Limited Cozy Dark - - - -May-30-2013 Nuance Communications, Inc. (NasdaqGS:NUAN) Tweddle - - - -May-30-2013 SMS Signature Cars and Saleen Automotive, Inc W270, Inc. - $80.0 - -May-30-2013 Access UK Limited PeoplePlanne - - - -May-30-2013 Deloitte & Touche LLP Vigilant, LLC - - - -May-30-2013 BloomReach, Inc. ShopLogic, Inc. - - - -May-30-2013 GFT Holding Italy S.r.l. Sempla Srl $57.4 - - -May-29-2013 Dassault Systemes SA (ENXTPA:DSY) Apriso Corporation - - - -May-29-2013 Cigniti Technologies Ltd. (BSE:534758) Gallop Solutions, Inc $9.5 $205.0 - -May-29-2013 YottaMark, Inc. ShopWell Solutions, Inc. - - - -May-29-2013 WinSun Technologies Bhd (KLSE:WINSUN) Planet Wireless Holdings Limited $2.6 - 1.5x -May-29-2013 Cisco Systems, Inc. (NasdaqGS:CSCO) JouleX, Inc. - $3.8 - -May-29-2013 Endexx Corp. (OTCPK:EDXC) Dispense Labs, LLC - $107.0 - -May-29-2013 Jobindex A/S (CPSE:JOBNDX) IDG Danmark A/S - - - -May-28-2013 ReelTime Media Limited Brilliant Company - - - -May-28-2013 ServiceLink, L.P. Lender Processing Services, Inc. (NYSE:LPS) $1,983.5 - 1.9x 11.4xMay-28-2013 Winterhawk Consulting LLC Winterhawk Consulting Asia, Inc. - $3,849.7 - -May-28-2013 Refinery29, Inc. Socialbomb, Inc. - - - -May-28-2013 Neohydro Technologies Corp. (OTCPK:NHYT) Epoxy, Inc. - - - -May-28-2013 Answers Corporation WebCollage, Inc. - - - -May-28-2013 Synergon Information Systems plc (BUSE:SYNERGON) NAVIGATOR Informatika Zrt. - - - -May-28-2013 AS Delfi SIA Calis.lv - $2.3 - -May-28-2013 Adobe Systems Inc. (NasdaqGS:ADBE) Ideacodes LLC - - - -May-27-2013 CAD-Quality AB Basepoint Oy $1.5 - - -May-27-2013 China 3D Internet Distribution Limited Century On Industrial Limited - - - -May-27-2013 Infopro Digital SAS DISTREE Events SARL - - - -May-24-2013 1Spatial Plc (AIM:SPA) STAR-APIC SA $10.3 - 0.7x 57.9xMay-24-2013 Quebecor Inc. (TSX:QBR.B) Gestev Inc. - $7.5 - -May-24-2013 HidroCo Limited E-tivity Corporation (APAC) Pty Ltd and E-tivity International Private Limited - - - -May-23-2013 Terago Inc. (TSX:TGO) Data Centers Canada Inc. - - - -May-23-2013 Yahoo! Inc. (NasdaqGS:YHOO) PlayerScale, Inc. - $9.2 - -May-23-2013 Conveyor Networks Ltd. Capley Marker Systems Limited - - - -May-23-2013 BrightBox Solutions, Inc. Help Desk Software, LLC - - - -May-23-2013 Concert Care Healthcare Solutions Novel Infosolutions Pvt Ltd - - - -May-23-2013 Kenyon Fraser Ltd. Concept PR and Edian - - - -May-22-2013 Genscape, Inc. vesseltracker.com GmbH - - - -May-22-2013 Silverlake Axis Ltd. (SGX:5CP) Cyber Village Sdn. Bhd. - - - -May-22-2013 Recargo, Inc. Xatori, Inc. - $14.0 - -May-22-2013 FreshNeck, LLC TieTry LLC - - - -May-22-2013 The Rimm-Kaufman Group, LLC Nine by Blue Inc. - - - -May-22-2013 TOT Group, Inc. Aptito.com, Inc. - - - -May-22-2013 Blue Coat Systems Inc. Solera Networks, Inc. - $41.1 - -May-22-2013 Persephone Capital Partners Global Relief Technologies LLC - - - -May-22-2013 Network-1 Security Solutions Inc. (OTCBB:NSSI) Mirror Worlds, LLC, Patent Portfolio - - - -May-22-2013 Aegis Media Nederland B.V. Social Embassy B.V. - $3.0 - -May-22-2013 Behance, Inc. Thumb Labs, LLC - - - -May-22-2013 Adrenaline Amusements Inc Sarbakan Inc. - - - -

Acquirer




Target TTM Revenue

($mm)

Enterprise Value

($mm)EV/

RevenueEV/

EBITDAMay-21-2013 Fahrenheit IT, Inc. Indecon Solutions, LLC - - - -May-21-2013 VTC, L.L.C arvato digital services LLC, Data Center Integration Services Business - - - -May-21-2013 AVG Technologies N.V. (NYSE:AVG) PrivacyChoice LLC - $1.5 - -May-21-2013 Healthland, Inc. American HealthTech, Inc. - - - -May-21-2013 SolarWinds Worldwide, LLC N-able Technologies International, Inc. - - - -May-21-2013 Whodini, Inc. Grappple, Inc. - $120.0 - -May-21-2013 108 Agency, s.r.o. Skladuj.cz - - - -May-21-2013 Mobivity Holdings Corp. (OTCPK:MFON) Front Door Insights LLC - - - -May-21-2013 Drukkerij Buroform nv CROZZ NV - $2.7 - -May-21-2013 EarthBend LLC Tonka-Tek, Inc. - - - -May-21-2013 Center for Computer Resources Power IT, LLC - - - -May-20-2013 Radius Global Market Research L.L.C. Profile Marketing Research, Inc. - - - -May-20-2013 Foodpanda Singapore Pte. Ltd. Singapore Dine Pte Ltd - - - -May-20-2013 E.M.T. Computarized Veracity Ltd - - - -May-20-2013 Oodrive Group CommonIT SAS - $3.5 - -May-17-2013 Highstreet IT Solutions, LLC MIS, Inc. - - - -May-16-2013 St Ives plc (LSE:SIV) Branded3 Search Limited Company $6.3 - 6.1x 14.7xMay-16-2013 Guangzhou Jingyou Computer Technology Co. Ltd. IFCA - Guangzhou Jingyou Computer Technology Co. Ltd - $38.3 - -May-16-2013 Upland Software, Inc. Marex Group, Inc. - - - -May-16-2013 TELUS Corporation (TSX:T) Mobilicity - - - -May-16-2013 Tactex Asset Management Inc. Tick Data Inc. - $374.1 - -May-16-2013 Aditi Technologies Pvt. Ltd. Get Cloud Ready Technology Consulting (India) Private Limited - - - -May-16-2013 Market Strategies, Inc. Cogent Research LLC - - - -May-16-2013 Aruba Networks, Inc. (NasdaqGS:ARUN) Meridian Apps, Inc. - - - -May-16-2013 Legend Pictures, LLC FIVE33 Entertainment LLC - - - -May-16-2013 Volume Limited Inovare Ltd - - - -May-15-2013 Aly Energy Services, Inc. (OTCPK:ALYE) Preferred - - - -May-15-2013 DocuSign, Inc. Cartavi, Inc. - - - -May-15-2013 IntegriCell, LLC SyncDog, Inc. - - - -May-15-2013 iTalk Inc. (OTCBB:TALK) Global - - - -May-15-2013 Bay Communications, Inc. Milwaukee 2- - - - -May-15-2013 Chime Sports Marketing LLP People - $16.5 - -May-15-2013 Alternative Energy Partners, Inc. (OTCBB:AEGY) Simple Prepay - - - -May-15-2013 Niel Telecom Telecel Globe $91.0 - - -May-15-2013 NutraBev Holdings International, Inc. Microlog Corporation (OTCPK:MLOG) - - - -May-15-2013 NBS SP Quê Comunicação - - - -May-15-2013 Private Investor KOLON BENIT Co., Ltd. - $60.8 - -May-14-2013 MYOB Finance NZ Limited BankLink Limited - $111.7 - -May-14-2013 Barracuda Networks, Inc. SignNow, Inc. - - - -May-14-2013 RelayRides, Inc. Wheelz, Inc. $0.0 - - -May-14-2013 CM Telecom B.V. Paratel NV - - - -May-14-2013 Scott Ford, Director of Ten Alps Communications Ten Alps Creative & Media Ltd. $7.6 $0.2 0.0x 7.2xMay-14-2013 petroWEB, Inc. Neuralog Inc., NeuraDB - - - -May-14-2013 8K Miles Software Services Ltd (BSE:512161) FuGen Solutions, Inc. - $7.5 - -May-14-2013 DDC Europe BV Didoc Data Services B.V. - - - -May-14-2013 Havas Media UK Limited ElisaDBI - - - -May-14-2013 Alternative Energy Partners, Inc. (OTCBB:AEGY) PharmaJanes - - - -May-14-2013 FreeButton, Inc. (OTCPK:FBTN) Media Rhythm Group Inc. - - - -May-14-2013 OMT Inc. (TSXV:OMT) AnalytixInsight Inc. - $2.1 - -May-14-2013 Tech Hollywood Studios Corp. Bitzio, Inc. (OTCPK:BTZO) $0.4 - - -May-14-2013 Next Net Media, LLC The Hoth Corp. - - - -

Acquirer




Target TTM Revenue

($mm)

Enterprise Value

($mm)EV/

RevenueEV/

EBITDAMay-14-2013 @WalmartLabs OneOps Inc. - - - -May-14-2013 29 Prime, Inc. Xsell Business Consulting, LLC - - - -May-14-2013 MinoMonsters Inc. Playcraft Labs Inc. - - - -May-14-2013 24/7 Inc. Shopalize, Inc. - - - -May-14-2013 Achieve IT Solutions, Inc. Munics Information Systems, Inc. - - - -May-13-2013 RichRelevance, Inc. Avail Intelligence AB - - - -May-13-2013 Taylor Nelson Sofres plc Sinotrust Market Research Co., Ltd. $41.5 - - -May-13-2013 Dyn Inc. Trendslide LLC - - - -May-13-2013 Best Rank, Inc. Engine Ready, Inc. - - - -May-13-2013 Guidewire Software, Inc. (NYSE:GWRE) Millbrook, Inc. - - - -May-13-2013 Unruly Group Limited Shareifyoulike GmbH - - - -May-13-2013 Twitter, Inc. Lucky Sort Inc. - - - -May-13-2013 Change SAS Wizee SAS $1.3 - - -May-13-2013 Platypus Advertising + Design, Inc. NOISE Inc., Milwaukee Office - - - -May-13-2013 Shanghai Great Wisdom Co., Ltd. (SHSE:601519) Singapore Nextview Pte Ltd. $3.4 $5.3 1.6x -May-13-2013 Incubeta Holdings Net Media Planet Limited - - - -May-10-2013 Dimension Data Holdings plc Earthwave Corporation Pty. Limited - - - -May-10-2013 Intelligent Living Inc. Mind360 - $1.0 - -May-10-2013 CellarStone Inc. webKPI LLC - - - -May-10-2013 Yahoo! Inc. (NasdaqGS:YHOO) Loki Studios, Inc. - - - -May-10-2013 Core Media Group Shanley Media Solutions Limited - - - -May-10-2013 MOCA Systems Inc. L-3 National Security Solutions Inc., Cost Engineering Services Group - - - -May-09-2013 Cloud Nation LLC Early Impact, Inc., Subscription Bridge - - - -May-09-2013 Creatine Marketing MXSweb - - - -May-09-2013 Nielsen Holdings N.V. (NYSE:NLSN) MediaXim NV/SA - - - -May-09-2013 MobileBits Holdings Corp. (OTCPK:MBIT) ValuText, LLC - - - -May-09-2013 Crown Partners LLC Intersect Inc. - - - -May-09-2013 Egnyte, Inc. Bema Sp. z oo - - - -May-09-2013 Yahoo! Inc. (NasdaqGS:YHOO) Go Poll Go, Inc. - - - -May-09-2013 Box, Inc. crocodoc - - - -May-09-2013 A & F Conveyors Limited Pacific Software, Inc. (OTCBB:PFSF) - - - -May-09-2013 Servion Global Solutions Ltd. JAM IP Limited - - - -May-09-2013 Twitter, Inc. Ubalo, Inc. - - - -May-09-2013 Legacy.com, Inc. Web Announcements Limited - - - -May-09-2013 Cognicase Management Consulting, S.L. Ártica Telemedicina S.L. - - - -May-08-2013 OMERS Private Equity Civica plc $314.8 $607.8 1.9x 10.3xMay-08-2013 Trulia, Inc. (NYSE:TRLA) Market Leader, Inc. (NasdaqGS:LEDR) $47.7 $314.3 6.6x -May-08-2013 NetSuite Inc. (NYSE:N) OrderMotion, Inc. - - - -May-08-2013 PlattForm Advertising, Inc. MJD Media Limited - - - -May-08-2013 Sylogist Ltd. (TSXV:SYZ) Epic Data International Inc. (TSXV:EKD) $4.5 $6.9 1.5x -May-08-2013 Plaut IT (Australia) Pty Limited Baseliner Consulting Sdn Bhd - - - -May-08-2013 Fortified Management Group, LLC Instilend Technologies Inc. - $2.4 - -May-08-2013 Aegis Media Limited NewWorld Group - - - -May-08-2013 St. John & Partners Advertising and Public Relations, Inc. SBS Studios, LLC - - - -May-08-2013 Electronics for Imaging, Inc. (NasdaqGS:EFII) printLEADER Software, Inc. - - - -May-08-2013 Verlagsgruppe Handelsblatt GmbH & Co. KG MEEDIA GmbH & Co. KG - - - -May-07-2013 Telecity Group plc (LSE:TCY) Hosting Internet Hizmetleri San. Tic. Ltd. Sti. - $44.8 - -May-07-2013 Lucent Mobile, Inc. Proxomo Software, Inc. - - - -May-07-2013 Tomizone Limited Jimojo Pty Ltd - - - -May-07-2013 ReadSoft AB (OM:RSOF B) Expert Systems Development Svenska AB $2.0 $9.2 4.6x -May-07-2013 ISIS Equity Partners LLP Red Box Recorders Ltd. - - - -

Acquirer




Target TTM Revenue

($mm)

Enterprise Value

($mm)EV/

RevenueEV/

EBITDAMay-07-2013 ECM Equity Capital Management GmbH MediFox GmbH - - - -May-07-2013 Telecity Group plc (LSE:TCY) Hosting Internet Hizmetleri San. Tic. Ltd. Sti. - $44.8 - -May-07-2013 Lucent Mobile, Inc. Proxomo Software, Inc. - - - -May-07-2013 Tomizone Limited Jimojo Pty Ltd - - - -May-07-2013 ReadSoft AB (OM:RSOF B) Expert Systems Development Svenska AB $2.0 $9.2 4.6x -May-07-2013 ISIS Equity Partners LLP Red Box Recorders Ltd. - - - -May-07-2013 ECM Equity Capital Management GmbH MediFox GmbH - - - -May-07-2013 Accenture plc (NYSE:ACN) Fjordnet Limited - - - -May-07-2013 E-drive Group Universal Graphics Ltd - - - -May-07-2013 TripAdvisor Inc. (NasdaqGS:TRIP) Guía de Apartamentos Niumba, S.L. - - - -May-07-2013 Nest Labs, Inc. MyEnergy, Inc. - - - -May-07-2013 All Property Management, LLC Seamus Co., LLC - - - -May-07-2013 Haystax Technology, Inc. FlexPoint Technology, A Haystax Company - - - -May-07-2013 Command Alkon Incorporated 323 Solutions, Inc. - - - -May-07-2013 Global Edge Software Ltd. Dearborn Electronics (India) Pvt Ltd - - - -May-07-2013 Matricis Informatique Inc. para9 inc. - - - -May-07-2013 Mimvi, Inc. (OTCBB:MIMV) AndroidRays - - - -May-07-2013 Get Found First, LLC Qualityscores.com And 15 Additional Online Marketing Websites - - - -May-07-2013 3Q Holdings Limited Intelligent Retail Ltd. - $5.8 - -May-07-2013 Swisscom AG (SWX:SCMN) Tweasy SA - - - -May-07-2013 About.me LLC Jeff Hodsdon, LLC - - - -May-07-2013 Ten Six Consulting, LLC Ten Six Consulting Ltd. - - - -May-07-2013 Bytes Technology Group South Africa (Proprietary) Ltd. Brand New Technologies Proprietary Limited - $7.0 - -May-06-2013 McAfee, Inc. Stonesoft Oyj (HLSE:SFT1V) $52.7 $376.2 7.0x -May-06-2013 Dimension Data Holdings plc AccessKenya Group Limited $22.1 $43.6 1.9x 5.4xMay-06-2013 Insight Venture Partners; GIC Special Investments Pte. Ltd.; Bain Capital PBMC Software Inc. (NasdaqGS:BMC) $2,201.4 $6,866.4 3.1x 11.2xMay-06-2013 Qlik Technologies, Inc. (NasdaqGS:QLIK) NComVA AB - $10.8 - -May-06-2013 Dell Inc. (NasdaqGS:DELL) enstratius, Inc. - - - -May-06-2013 LoanLogics, Inc. NYLX, Inc. - - - -May-06-2013 Employer Flexible HR, Inc. EmpactIT - - - -May-06-2013 ePrize, Inc. Promotions.com LLC - - - -May-06-2013 Vencor International, Inc. (OTCPK:VCOR) Link My Fan Inc. - - - -May-06-2013 Oniva Online Group Europe AB (publ) (OM:ONG) Space2u Webhosting AB - - - -May-06-2013 iQIYI.com, Inc. PPStream, Inc. - $370.0 - -May-06-2013 Xiamen 35.Com Technology Co., Ltd. (SZSE:300051) CNFOL.COM Company Limited - $34.0 - -May-06-2013 VinSolutions, Inc. Haystak Digital Marketing LLC - - - -May-06-2013 Search2Go Inc. RentSJ.ca - - - -May-06-2013 EPiServer AB Euroling AB - - - -May-06-2013 Bestv New Media Co., Ltd. (SHSE:600637) SVA Communications Co., Ltd. - $4.9 - -May-06-2013 Daniel J. Edelman, Inc. Baird's Renaissance Pty. Ltd. - - - -May-05-2013 Darby Overseas Investments, Ltd. ALL Rail Technology - $14.9 - -May-03-2013 Quindell Portfolio Plc (AIM:QPP) Quindell Property Services Limited - $54.3 - -May-03-2013 Constellation HomeBuilder Systems, Inc. Quantitative Medical Systems, Inc. - - - -May-03-2013 Spotify Limited Tunigo AB - - - -May-03-2013 Webdesigner Depot CodeVisually.com - - - -May-03-2013 Highstreet IT Solutions, LLC Highstreet ESG, Inc. $25.0 - - -May-03-2013 LX Ventures Inc. (TSXV:LXV) Sosido Networks Inc. - $0.4 - -May-02-2013 Yahoo! Inc. (NasdaqGS:YHOO) Todoroo, Inc. - - - -May-02-2013 Move, Inc. (NasdaqGS:MOVE) ABC Holdings, LLC - $2.3 - -May-02-2013 PostNord AB Aditro Financial Management AB and Aditro Financial Processes AB - - - -May-02-2013 Morningstar Europe BV Morningstar Sweden AB - $17.1 - -

Acquirer




Target TTM Revenue

($mm)

Enterprise Value

($mm)EV/

RevenueEV/

EBITDAMay-02-2013 LearnCentral GreenStack, Inc. - - - -May-02-2013 MyrtleBeachSC.com Broadway Technology, Inc. - - - -May-02-2013 Perficient Inc. (NasdaqGS:PRFT) TriTek Solutions, Inc. $19.0 $18.5 1.0x -May-02-2013 Ubiquitous Systems Ltd. Anoto UK $2.6 $3.0 1.1x -May-02-2013 GemTalk Systems LLC GemStone/S - - - -May-02-2013 The Descartes Systems Group Inc (TSX:DSG) KSD Software Norway AS $9.6 $30.8 3.2x -May-02-2013 PCCW Solutions Limited Compass Solutions Holdings Limited - - - -May-02-2013 Rhino Print Solutions Inc. Marcam Cross Media Ltd. - - - -May-02-2013 Alan B Chaveleh and Marteza Baharloo TimeGate Studios Inc. - $0.7 - -May-02-2013 5Touch Solutions, Inc. NK Labs Inc. - - - -May-02-2013 Backstop Solutions Group, LLC PerTrac Financial Solutions, LLC, PerTrac CMS - - - -May-02-2013 Lighthouse Publications, LLC Aucoot Media, Inc. - - - -May-01-2013 NXP Semiconductors NV (NasdaqGS:NXPI) Code Red Technologies, Ltd. - - - -May-01-2013 SKU Logistics Dawson Marketing Services Ltd. - $0.3 - -May-01-2013 DreamWorks Animation SKG Inc. (NasdaqGS:DWA) AwesomenessTV, Inc. - $150.5 - -May-01-2013 Pramati Technologies Private Limited WaveMaker Software, Inc. - - - -May-01-2013 Rennes Foundation; Robin Raina Foundation, Inc., Endowment Arm; ExchEbix Inc. (NasdaqGS:EBIX) $208.1 $811.6 3.9x 9.3xMay-01-2013 ALLMYFUNDS Technology Pty Ltd InvestmentLink Pty Ltd. - - - -May-01-2013 iProspect.com, Inc. NVI Solutions - - - -May-01-2013 Fronde Systems Group Limited OnlineOne - - - -May-01-2013 Everest Group LLC JangoMail, Inc. - - - -May-01-2013 Big Red Rooster, LLC Big Red Rooster NetPoint, LLC - - - -May-01-2013 Intermark Group, Inc. Buzz12 Marketing - - - -May-01-2013 Datum Corporation BreakFree IT Solutions, LLC - - - -May-01-2013 Junior Advertising Pty Limited Cru Group Pty Ltd - - - -May-01-2013 Infinx Services Private Limited Critical Entry Data Systems, LLC - - - -May-01-2013 Atlantic DataSystems Inc. THINQ Business Solutions Inc. - - - -May-01-2013 NetWeave Social Networking LLC ELEVATE Social Limited - - - -

Acquirer


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