Technology Report Q4 2016 - sdr-uyfpxh6dk.netdna-ssl.com · Date Target Buyer(s) Segment Amount ($...

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Date Target Buyer(s) SegmentAmount ($ in

Mil)TEV/ Rev TEV/ EBITDA

12/29/2016 Tangoe, Inc. Marlin Management Co. LLC Other SaaS $246.02 1.16x 16.42x

12/15/2016 Rubicon Genomics, Inc. Takara Bio Inc.; Takara Bio USA Holdings,

Inc.

Data & Analytics 75.00 8.99x -

12/14/2016 NeuStar, Inc. Golden Gate Private Equity, Inc. IT Services 2,698.74 2.32x 6.09x

12/1/2016 Alsbridge, Inc. Information Services Group, Inc. Infrastructure/Hosting 74.23 1.29x -

11/29/2016 eGov Holdings, Inc. Booz Allen Hamilton Holding Corp. Other SaaS 250.00 2.34x -

11/17/2016 Machinima, Inc. Warner Bros. Entertainment, Inc. Other SaaS 100.00 4.00x -

11/16/2016 OpinionLab, Inc. Verint Systems, Inc. Data & Analytics 84.40 4.18x -

11/10/2016 TubeMogul, Inc. Tiger Acquisition Corp. Marketing Software 492.10 2.32x NM

11/7/2016 EarthLink Holdings Corp. Windstream Holdings, Inc. IT Security 1,008.35 1.02x 4.88x

11/7/2016 Datalink Corp. Insight Enterprises, Inc. Infrastructure/Hosting 213.98 0.28x 11.24x

34

13 4

80

18 21 36

24 36 12 1

-

20

40

60

80

100

Strategic89%

Financial11%


Financial Buyer Inv. Date Select Corporate InvestmentsVista Equity Partners 09/19/2016 ▪ Infoblox Inc. (NYSE:BLOX)

08/18/2016 ▪ Granicus Inc.

06/01/2016 ▪ Ping Identity Corporation

05/31/2016 ▪ Marketo, Inc. (NasdaqGS:MKTO)

04/18/2016 ▪ Cvent, Inc. (NYSE:CVT)

Thoma Bravo, LLC 09/29/2016 ▪ T2 Systems, Inc.

07/13/2016 ▪ Imprivata, Inc. (NYSE:IMPR)

06/23/2016 ▪ Bomgar Corporation

06/07/2016 ▪ Elemica, Inc.06/02/2016 ▪ Qlik Technologies, Inc. (NasdaqGS:QLIK)

Marlin Equity Partners, LLC 09/12/2016 ▪ QualiTest Ltd.

07/20/2016 ▪ Revenew, Inc.12/08/2015 ▪ BlueHornet Networks, Inc.

08/06/2015 ▪ ADP AdvancedMD, Inc.

06/26/2015 ▪ IBS AB

H.I.G. Capital, LLC 07/29/2016 ▪ Symplicity Corporation

04/28/2016 ▪ AVI-SPL, Inc.

03/03/2016 ▪ Quicken Investment Services, Inc.

11/30/2015 ▪ Constructive Media, LLC

06/19/2015 ▪ Inome, Inc.

Cloud Equity Group 05/31/2016 ▪ Beachcomber Creations

05/04/2016 ▪ CloudAccess.net, LLC

09/14/2015 ▪ Virpus Networks, Inc.

03/04/2015 ▪ Fresh Roasted Hosting LLC

Strategic Buyer Inv. Date Select Corporate AcquisitionsMicrosoft Corporation (NasdaqGS:MSFT) 08/10/2016 ▪ Beam Interactive, Inc.

06/16/2016 ▪ Wand Labs, Inc.

06/13/2016 ▪ LinkedIn Corporation (NYSE:LNKD)

02/24/2016 ▪ Xamarin Inc.

01/19/2016 ▪ TeacherGaming LLC, MinecraftEdu

Alphabet Inc. (NasdaqGS:GOOGL) 09/08/2016 ▪ Apigee Corporation (NasdaqGS:APIC)

07/12/2016 ▪ FortyTwo Inc.

07/07/2016 ▪ Anvato Inc.

02/19/2016 ▪ Joyride Inc.

01/06/2016 ▪ Circus Ponies Software, Inc.

International Business Machines Corporation (NYSE:IBM) 02/29/2016 ▪ Resilient, an IBM Company

01/21/2016 ▪ Ustream, Inc.

12/08/2015 ▪ Clearleap, Inc.

11/03/2015 ▪ Gravitant, Inc.

10/28/2015 ▪ The Weather Company, Product and Technology Businesses

salesforce.com, inc. (NYSE:CRM) 09/07/2016 ▪ HeyWire, Inc.

08/15/2016 ▪ BeyondCore, Inc.

08/01/2016 ▪ Quip, Inc.

07/21/2016 ▪ Coolan, Inc.

06/01/2016 ▪ Demandware, Inc.

Cisco Systems, Inc. (NasdaqGS:CSCO) 08/30/2016 ▪ ContainerX, Inc.

06/28/2016 ▪ CloudLock, Inc.

03/08/2016 ▪ Synata, Inc

02/03/2016 ▪ Jasper Technologies, Inc.

10/28/2015 ▪ 1 Mainstream, Inc.


-25%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

Enterprise Software Financial Technology Supply Chain Software

Human Capital Management Other SaaS Marketing Software

Healthcare IT Data Analytics IT Services

IT Security Hosting Data Center Tech Conglomerates

S&P 500

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Oracle Corp. ORCL-US 157,859$ 38.45$ -2.1% 5.3% 91.5% 2.8% 41.0% 4.1x 10.0x 4.1x 9.1x

International Business Machines Corp. IBM-US 157,832 165.99 4.5% 20.6% 97.7% (1.0%) 20.7% 2.4x 11.3x 2.4x 9.6x

Adobe Systems, Inc. ADBE-US 51,190 102.95 -5.2% 9.6% 92.7% 21.2% 34.4% 8.3x 26.6x 6.9x 17.3x

Intuit, Inc. INTU-US 29,417 114.61 4.2% 18.8% 96.6% 10.1% (0.8%) 6.3x 20.7x 5.7x 14.7x

Constellation Software, Inc. CSU-CA 9,641 454.96 3.2% 5.8% 93.8% 17.4% 26.1% 4.7x 18.9x 4.0x 15.7x

The Sage Group Plc SGE-GB 8,742 8.09 -11.2% 8.5% 81.5% 15.8% 31.1% 4.7x 15.8x 4.1x 14.0x

Open Text Corp. OTC-CA 8,090 61.83 -2.4% 25.0% 92.5% 13.7% 32.2% 5.0x 14.5x 4.2x 11.5x

TOTVS SA TOTS3-BR 1,223 7.39 -20.9% -22.5% 70.6% 5.0% 11.9% 2.0x 12.5x 1.9x 9.8x

$52,999 (3.7%) 8.9% 89.6% 10.6% 24.6% 4.7x 16.3x 4.2x 12.7x$19,529 (2.3%) 9.1% 92.6% 11.9% 28.6% 4.7x 15.2x 4.1x 12.8x

Market Stats Operating Stats LTM Multiples NTM Multiples



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Visa, Inc. V-US 144,724$ 78.02$ -5.7% 0.6% 92.9% 20.5% 67.5% 12.8x 18.3x 11.0x 15.7x

Mastercard, Inc. MA-US 110,425$ 103.25$ 1.5% 6.0% 94.8% 13.4% 61.0% 10.3x 18.1x 9.1x 15.8x

American Express Co. AXP-US 67,802$ 74.08$ 15.7% 6.5% 97.8% (7.3%) NM 2.6x NM 2.8x NM

Fidelity National Information Services, Inc. FIS-US 24,827$ 75.64$ -1.8% 24.8% 92.6% 12.8% 29.9% 4.0x 15.1x 3.6x 11.1x

Fiserv, Inc. FISV-US 23,069$ 106.28$ 6.8% 16.2% 95.3% 8.0% 34.3% 5.0x 15.1x 4.8x 13.4x

The Western Union Co. WU-US 10,531$ 21.72$ 4.3% 21.3% 97.6% 2.6% 24.3% 2.3x 9.6x 2.3x 9.2x

MSCI, Inc. MSCI-US 7,415$ 78.78$ -6.1% 9.2% 86.8% 8.9% 49.7% 7.5x 15.5x 7.0x 13.8x

Jack Henry & Associates, Inc. JKHY-US 6,934$ 88.78$ 3.8% 13.7% 97.5% 6.2% 36.4% 5.0x 14.1x 4.7x 13.4x

Black Knight Financial Services, Inc. BKFS-US 2,612$ 37.80$ -7.6% 14.3% 89.6% 12.7% 43.0% 5.2x 11.9x 4.5x 9.9x

Envestnet, Inc. ENV-US 1,518$ 35.25$ -3.3% 18.1% 85.0% 23.8% 10.7% 3.3x 35.6x 2.6x 13.4x

Q2 Holdings, Inc. QTWO-US 1,158$ 28.85$ 0.7% 9.4% 87.8% 38.9% (11.5%) 7.7x NM 5.5x 140.7x

Bottomline Technologies, Inc. EPAY-US 1,014$ 25.02$ 7.3% -15.8% 79.4% 5.1% 6.9% 3.1x 29.7x 2.8x 13.3x

1.3% 10.4% 91.4% 12.1% 32.0% 5.7x 18.3x 5.1x 24.5x1.1% 11.6% 92.8% 10.8% 34.3% 5.0x 15.3x 4.6x 13.4x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Manhattan Associates, Inc. MANH-US 3,775$ 53.03$ -8.0% -19.9% 77.3% 10.7% 36.7% 6.1x 18.6x 5.6x 15.3x

The Descartes Systems Group, Inc. DSG-CA 1,619 21.35 1.4% 2.8% 93.7% 13.0% 33.1% 7.8x 23.7x 6.9x 19.7x

Kinaxis, Inc. KXS-CA 1,157 46.61 -6.5% 33.2% 88.0% 36.5% 15.0% 9.7x 54.9x 7.8x 29.2x

SPS Commerce, Inc. SPSC-US 1,191 69.89 -4.8% -0.5% 93.4% 23.0% 11.1% 5.8x 57.2x 4.8x 33.1x

American Software, Inc. AMSWA-US 277 10.33 -6.9% 1.5% 86.6% 6.2% 9.0% 2.1x 16.0x 2.0x 13.4x

17.9% 21.0%13.0% 15.0%



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Paychex, Inc. PAYX-US 21,846$ 60.88$ 5.2% 15.1% 97.9% 7.6% 44.2% 7.1x 16.5x 6.6x 15.5x

Workday, Inc. WDAY-US 8,261 66.09 -27.9% -17.1% 70.8% 34.2% (19.4%) 8.2x NM 6.0x 56.1x

The Ultimate Software Group, Inc. ULTI-US 5,288 182.35 -10.8% -6.7% 81.4% 30.5% 7.7% 7.0x 79.0x 5.6x 23.1x

Paycom Software, Inc. PAYC-US 2,734 45.49 -9.3% 20.9% 85.9% 37.5% 5.3% 8.8x 42.2x 6.3x 22.8x

Cornerstone OnDemand, Inc. CSOD-US 2,377 42.31 -7.9% 22.5% 88.6% 18.9% (1.5%) 5.8x NM 4.9x 52.1x

Paylocity Holding Corp. PCTY-US 1,541 30.01 -32.5% -26.0% 60.4% 33.0% 2.7% 5.8x 114.4x 4.4x 33.0x

Benefitfocus, Inc. BNFT-US 881 29.70 -25.6% -18.4% 66.0% 24.2% (5.5%) 4.0x NM 3.2x 87.5x

Xactly Corp. XTLY-US 345 11.00 -25.3% 29.0% 68.3% 22.1% (12.8%) 3.5x NM 2.8x NM

Halogen Software, Inc. HGN-CA 133 6.18 -18.6% 15.9% 77.4% 8.6% 13.7% 1.4x 24.4x 1.3x 11.1x

24.1% 3.8%24.2% 2.7%




($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

ServiceNow, Inc. NOW-US 12,341$ 74.34$ -6.1% -14.1% 82.8% 39.3% (1.3%) 9.3x NM 6.7x 30.1x

Guidewire Software, Inc. GWRE-US 3,626 49.33 -17.8% -18.0% 77.1% 18.0% (15.2%) 7.1x 158.6x 6.0x 30.8x

LogMeIn, Inc. LOGM-US 2,461 96.55 6.8% 43.9% 87.7% 19.0% 18.6% 7.0x 43.5x 5.9x 21.5x

RealPage, Inc. RP-US 2,414 30.00 16.7% 33.6% 97.2% 20.1% 15.8% 4.4x 29.7x 3.5x 15.3x

Zendesk, Inc. ZEN-US 2,021 21.20 -31.0% -19.8% 66.5% 43.5% (24.0%) 6.3x NM 4.3x 125.6x

Atlassian Corp. Plc TEAM-US 1,979 24.08 -19.7% -19.9% 68.5% 39.6% 2.1% 9.2x 582.0x 6.6x 30.4x

Ebix, Inc. EBIX-US 1,849 57.05 0.4% 74.0% 90.6% 10.6% 35.1% 6.9x 18.4x 6.3x 16.6x

Xero Ltd. XRO-NZ 1,678 12.20 -9.6% -11.6% 80.3% 53.8% (19.5%) 8.9x NM 5.8x NM

RingCentral, Inc. RNG-US 1,246 20.60 -12.9% -12.6% 82.4% 30.6% (3.4%) 3.8x NM 2.9x 42.8x

Alarm.com Holdings, Inc. ALRM-US 1,279 27.83 -3.6% 66.8% 80.8% 21.0% 6.7% 4.6x 56.8x 4.0x 21.8x

Five9, Inc. FIVN-US 752 14.19 -9.5% 63.1% 86.5% 21.0% 0.8% 4.8x NM 3.9x 85.6x

Intralinks Holdings, Inc. IL-US 783 13.52 34.4% 49.1% 98.5% 12.0% 17.4% 2.8x 21.6x 2.5x 11.5x

MINDBODY, Inc. MB-US 575 21.30 8.3% 40.8% 92.8% 39.0% (9.6%) 6.1x NM 4.3x 150.7x

Instructure, Inc. INST-US 552 19.55 -22.9% -6.1% 72.6% 47.4% (37.2%) 4.6x NM 3.1x NM

Workiva, Inc. WK-US 413 13.65 -24.7% -22.3% 71.7% 21.3% (26.4%) 3.1x NM 2.5x NM

AppFolio, Inc. APPF-US 277 23.85 22.7% 63.4% 97.3% 39.1% 5.1% 8.0x NM 5.7x NM

Model N, Inc. MODN-US 249 8.85 -20.3% -20.7% 63.3% 2.5% (21.5%) 1.7x NM 1.6x NM

Castlight Health, Inc. CSLT-US 245 4.95 19.0% 15.9% 90.0% 33.2% (41.9%) 4.3x NM 3.2x NM

28.4% (5.5%)25.9% (2.3%)



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Adobe Systems, Inc. ADBE-US 51,190$ 102.95$ -5.2% 9.6% 92.7% 21.2% 34.4% 8.3x 26.6x 6.9x 17.3x

salesforce.com, inc. CRM-US 46,491 68.46 -4.0% -12.7% 81.0% 26.4% 12.4% 6.2x 46.2x 4.9x 22.9x

Criteo SA CRTO-US 2,502 41.08 17.0% 3.7% 85.9% (44.7%) 9.3% 1.4x 14.0x 2.6x 8.3x

HubSpot, Inc. HUBS-US 1,674 47.00 -18.4% -16.5% 78.4% 41.3% (10.2%) 6.3x NM 4.4x 1047.0x

Callidus Software, Inc. CALD-US 1,066 16.80 -8.4% -9.5% 78.4% 23.0% 0.6% 4.5x NM 3.2x 23.7x

ChannelAdvisor Corp. ECOM-US 370 14.35 11.0% 3.6% 90.2% 16.8% (2.8%) 2.8x NM 2.4x 43.8x

Bazaarvoice, Inc. BV-US 405 4.85 -17.9% 10.7% 79.1% 4.7% 1.9% 1.8x 489.9x 1.7x 18.7x

12.7% 6.5%21.2% 1.9%



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Cerner Corp. CERN-US 16,082$ 47.37$ -23.3% -21.3% 70.2% 11.2% 31.2% 3.4x 11.0x 3.1x 9.1xathenahealth, Inc. ATHN-US 4,150 105.17 -16.6% -34.7% 62.8% 23.7% 18.8% 4.1x 27.6x 3.4x 14.1xVeeva Systems, Inc. VEEV-US 4,119 40.70 -1.4% 41.1% 84.9% 26.2% 26.1% 9.9x 47.1x 8.6x 27.4xMedidata Solutions, Inc. MDSO-US 2,863 49.67 -10.9% 0.8% 85.9% 26.1% 15.3% 6.4x 50.2x 5.1x 21.2xAllscripts Healthcare Solutions, Inc. MDRX-US 1,890 10.21 -22.5% -33.6% 65.6% 16.2% 15.4% 2.4x 14.3x 2.0x 10.9xHMS Holdings Corp. HMSY-US 1,537 18.16 -18.1% 47.2% 75.7% 7.3% 20.2% 3.1x 14.6x 2.9x 11.7xQuality Systems, Inc. QSII-US 817 13.15 16.2% -18.4% 75.1% 4.5% 16.8% 1.7x 10.8x 1.6x 9.0xInovalon Holdings, Inc. INOV-US 649 10.30 -30.0% -39.4% 51.4% 0.5% 17.1% 2.4x 10.6x 2.5x 10.4x

14.5% 20.1%13.7% 17.9%




($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Splunk, Inc. SPLK-US 6,939$ 51.15$ -12.8% -13.0% 77.8% 35.2% (33.8%) 6.8x NM 5.0x 46.2xTeradata Corp. TDC-US 3,529 27.17 -12.4% 2.8% 82.1% (11.5%) 23.6% 1.3x 6.0x 1.5x 6.9xPegasystems, Inc. PEGA-US 2,748 36.00 22.1% 30.9% 97.0% 15.6% 6.5% 3.5x 28.3x 3.1x 18.4xTableau Software, Inc. DATA-US 2,434 42.15 -23.7% -55.3% 44.0% 11.5% (9.8%) 3.0x NM 2.7x 37.4xVerint Systems, Inc. VRNT-US 2,209 35.25 -6.3% -13.1% 85.2% 7.2% 13.8% 2.5x 18.5x 2.4x 10.5xMicroStrategy, Inc. MSTR-US 1,855 197.40 17.9% 10.1% 95.2% 2.0% 26.4% 3.3x 12.4x 3.2x 11.2xInovalon Holdings, Inc. INOV-US 649 10.30 -30.0% -39.4% 51.4% 0.5% 17.1% 2.4x 10.6x 2.5x 10.4xPROS Holdings, Inc. PRO-US 657 21.52 -4.8% -6.6% 83.9% 2.6% (27.9%) 4.2x NM 4.1x NMHortonworks, Inc. HDP-US 505 8.31 -0.5% -62.1% 37.8% 39.6% (130.9%) 2.5x NM 1.7x 90.0x

11.4% (12.8%)7.2% 6.5%



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

International Business Machines Corp. IBM-US 157,832$ 165.99$ 4.5% 20.6% 97.7% (1.0%) 20.7% 2.4x 11.3x 2.4x 9.6xCognizant Technology Solutions Corp. CTSH-US 33,994 56.03 17.4% -6.6% 88.3% 11.7% 19.5% 2.3x 11.3x 2.0x 10.2xCGI Group, Inc. GIB.A-CA 13,075 48.05 3.1% 16.3% 94.9% 3.0% 18.8% 2.0x 10.8x 1.9x 10.3xLeidos Holdings, Inc. LDOS-US 7,690 51.14 18.2% -9.1% 86.0% 89.1% 10.0% 1.9x 21.9x 0.9x 9.3xBooz Allen Hamilton Holding Corp. BAH-US 5,392 36.07 14.1% 16.9% 93.6% 5.5% 9.5% 1.2x 12.9x 1.1x 11.5xTeradata Corp. TDC-US 3,529 27.17 -12.4% 2.8% 82.1% (11.5%) 23.6% 1.3x 6.0x 1.5x 6.9xEPAM Systems, Inc. EPAM-US 3,282 64.31 -7.2% -18.2% 80.6% 27.1% 13.7% 2.7x 19.5x 2.2x 12.2xCACI International, Inc. CACI-US 3,030 124.30 23.2% 34.0% 93.0% 6.9% 8.2% 1.1x 12.5x 1.0x 11.7xInterxion Holding NV INXN-US 2,472 35.07 -3.2% 16.3% 90.3% 5.8% 43.4% 6.8x 14.8x 6.4x 13.9xManTech International Corp. MANT-US 1,071 42.25 12.1% 39.7% 92.8% 3.5% 7.5% 1.0x 12.5x 0.9x 12.0xVirtusa Corp. VRTU-US 753 25.12 1.8% -39.2% 54.2% 24.7% 1.1% 1.1x 34.8x 0.9x 12.4xUnisys Corp. UIS-US 749 14.95 53.5% 35.3% 89.5% (2.6%) 8.9% 0.3x 2.4x 0.3x 2.0xThe Hackett Group, Inc. HCKT-US 504 17.66 6.9% 9.9% 96.2% 6.1% 13.4% 1.8x 14.3x 1.9x 11.7xServiceSource International, Inc. SREV-US 494 5.68 16.4% 23.2% 90.9% 8.4% 0.6% 1.7x NM 1.6x 22.8x

12.6% 14.2%6.0% 11.7%



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Cisco Systems, Inc. CSCO-US 151,697$ 30.22$ -4.7% 11.3% 94.6% (0.3%) 31.6% 2.4x 7.6x 2.4x 6.9xPalo Alto Networks, Inc. PANW-US 11,465 125.05 -21.5% -29.0% 70.4% 36.4% (9.1%) 7.2x NM 5.2x 20.8xSymantec Corp. SYMC-US 14,893 23.89 -4.8% 13.8% 92.9% 82.5% 23.0% 4.5x 34.2x 3.7x 8.4xVeriSign, Inc. VRSN-US 7,955 76.07 -2.8% -12.9% 82.7% 3.6% 65.9% 7.1x 11.0x 8.4x 11.9xFortinet, Inc. FTNT-US 5,212 30.12 -18.4% -3.4% 80.4% 21.4% 6.6% 3.5x 72.2x 2.9x 15.9xFireEye, Inc. FEYE-US 2,036 11.90 -19.2% -42.6% 52.9% 11.1% (31.5%) 2.6x NM 2.2x 101.3xCheetah Mobile, Inc. CMCM-US 350 9.56 -23.3% -40.3% 52.6% 11.9% (0.2%) 0.3x 19.7x 1.6x 21.8xCheck Point Software Technologies Ltd. CHKP-US 14,772 84.46 8.8% 3.8% 93.9% 7.0% 49.2% 7.9x 15.7x 7.3x 13.4xGemalto NV GTO-NL 5,209 57.93 -3.8% -0.6% 77.3% 5.1% 14.7% 1.7x 10.0x 1.6x 8.1xTrend Micro, Inc. 4704-JP 4,998 35.62 18.4% -15.7% 83.2% 13.4% 36.4% 3.6x 11.3x 3.1x 9.8xProofpoint, Inc. PFPT-US 3,002 70.65 -5.6% 8.7% 80.3% 40.8% (3.4%) 8.6x NM 6.0x 58.4xImperva, Inc. IMPV-US 1,261 38.40 -28.5% -39.3% 59.2% 17.9% (13.4%) 3.9x NM 3.2x 82.2xCyberArk Software Ltd. CYBR-US 1,527 45.50 -8.2% 0.8% 76.8% 29.3% 17.7% 6.3x 29.6x 5.3x 19.8xAVG Technologies NV AVGTF-US 1,282 25.32 1.2% 26.3% 72.3% NM NM 3.2x 12.0x NM NMQualys, Inc. QLYS-US 1,130 31.65 -17.1% -4.4% 79.8% 23.0% 24.6% 4.8x 20.3x 4.3x 13.2xRapid7, Inc. RPD-US 517 12.17 -31.0% -19.6% 63.1% 31.6% (20.6%) 3.0x NM 2.2x NMMimecast Ltd. (Jersey) MIME-US 975 17.90 -6.4% 86.5% 72.8% 30.9% 1.1% 5.5x NM 4.5x 53.0xVaronis Systems, Inc. VRNS-US 715 26.80 -11.0% 42.6% 83.6% 26.3% (8.3%) 3.9x NM 3.1x 317.5x

23.0% 10.8%21.4% 6.6%




($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Equinix, Inc. EQIX-US 25,512$ 357.41$ -0.8% 18.2% 91.4% 19.7% NM 9.2x NM 7.8x 16.6xDigital Realty Trust, Inc. DLR-US 15,617 98.26 1.2% 29.9% 86.8% 11.5% NM 11.0x NM 9.4x 16.4xAkamai Technologies, Inc. AKAM-US 11,556 66.68 25.8% 26.7% 93.9% 11.2% 34.3% 4.9x 14.1x 4.5x 11.1xDuPont Fabros Technology, Inc. DFT-US 3,333 43.93 6.5% 38.2% 89.7% 16.3% NM 10.4x NM 9.0x 14.4xGoDaddy, Inc. GDDY-US 3,057 34.95 1.2% 9.0% 93.4% 17.0% 13.7% 2.1x 17.9x 1.9x 8.3xCoreSite Realty Corp. COR-US 2,693 79.37 7.2% 39.9% 86.4% 20.7% NM 9.3x NM 7.8x 14.6xQTS Realty Trust, Inc. QTS-US 2,369 49.65 -6.1% 10.1% 83.6% 15.9% NM 8.6x NM 8.3x 18.2xExtreme Networks, Inc. EXTR-US 538 5.03 12.0% 23.3% 96.7% 20.9% 6.2% 0.9x 16.1x 0.8x 6.6x

16.7% 18.1%16.6% 13.7%



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Alphabet, Inc. GOOGL-US 499,762$ 792.45$ -1.4% 1.9% 94.5% 0.3% 32.5% 5.5x 16.9x 5.6x 11.2xMicrosoft Corp. MSFT-US 483,160 62.14 7.9% 12.0% 96.9% 14.2% 34.2% 5.0x 15.6x 4.4x 11.4xFacebook, Inc. FB-US 269,312 115.05 -10.3% 9.9% 86.2% 48.6% 53.2% 12.3x 23.7x 8.4x 13.5xOracle Corp. ORCL-US 157,859 38.45 -2.1% 5.3% 91.5% 2.8% 41.0% 4.1x 10.0x 4.1x 9.1xInternational Business Machines Corp. IBM-US 157,832 165.99 4.5% 20.6% 97.7% (1.0%) 20.7% 2.4x 11.3x 2.4x 9.6xCisco Systems, Inc. CSCO-US 151,697 30.22 -4.7% 11.3% 94.6% (0.3%) 31.6% 2.4x 7.6x 2.4x 6.9xSAP SE SAP-US 107,302 86.43 -5.4% 9.3% 93.2% 5.7% 26.5% 4.6x 16.3x 4.3x 13.0xsalesforce.com, inc. CRM-US 46,491 68.46 -4.0% -12.7% 81.0% 26.4% 12.4% 6.2x 46.2x 4.9x 22.9x

12.1% 31.5%4.3% 32.0%



Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev

TEV/

EBITDA12/30/2016 Continuum Worldwide Corp. Kelso & Co. LP; Sirius Computer Solutions, Inc. Other SaaS

-- -

12/29/2016 SureHarvest, Inc. Where Food Comes From, Inc. Other SaaS 4.72 - -

12/29/2016 Tangoe, Inc. Marlin Management Co. LLC Enterprise Software 246.02 1.16x 16.42x

12/29/2016 Environmental Packaging Technologies Ltd. International Metals Streaming Corp. Supply Chain Software-

- -

12/29/2016 Edge Technologies, Inc. Lotus Innovations LLC Enterprise Software - - -

12/28/2016 Iron Mountain, Inc. /Legacy Recall Assets/ Summit Park Partners; Arkive Inc Infrastructure/Hosting50.00

- -

12/27/2016 Consulting Services Support Corp. Cardiff International, Inc. Financial Technology - - -

12/27/2016 iRule LLC Kramer Electronics Ltd Other SaaS - - -

12/23/2016 Datamyne, Inc. The Descartes Systems Group, Inc. Data & Analytics 52.70 - -

12/23/2016 RFM Ventures LLC Vibes Media LLC Marketing Software - - -

12/22/2016 Driven, Inc. (California) Magma Venture Partners Ltd.; Waarde Capital;

Xplenty Ltd.

Enterprise Software-

- -

12/22/2016 Network Medical Management, Inc. Apollo Medical Holdings, Inc. Healthcare IT - - -

12/21/2016 OAE Software LLC Halyard Capital Management LLC Enterprise Software - - -

12/21/2016 Veris Group LLC The Carlyle Group LP (Corporate Private

Equity); Coalfire Systems, Inc.

IT Security -

- -

12/21/2016 Rayburn, Bates & Fitzgerald PC Carr, Riggs & Ingram LLC Enterprise Software - - -

12/21/2016 Blanski Peter Kronlage & Zoch PA Smith Schafer & Associates Ltd. Enterprise Software - - -

12/20/2016 Gracenote, Inc. Nielsen Holdings Plc IT Services 560.00 - -

12/20/2016 Cornerstone Advisors Group LLC 8K Miles Software Services, Inc. Healthcare IT 10.25 - -

12/19/2016 Cyberfend Akamai Technologies, Inc. IT Security - - -

12/19/2016 ISCS, Inc. Guidewire Software, Inc. Other SaaS 160.00 - -

12/19/2016 Edaptive Systems LLC ManTech International Corp. IT Services - - -

12/16/2016 TeamQuest Corp. Split Rock Partners LLC; H.I.G. Capital LLC

(Private Equity); Help/Systems LLC


- -

12/15/2016 DeepField Networks, Inc. Nokia Oyj Other SaaS - - -

12/15/2016 Rubicon Genomics, Inc. Takara Bio Inc.; Takara Bio USA Holdings, Inc. Data & Analytics 75.00

8.99x -

12/15/2016 DDDigtal, Inc. MassRoots, Inc. Data & Analytics 2.51 - -

12/15/2016 Quantum Management Group, Inc. The British Standards Institution Other SaaS - - -

12/15/2016 HoozeTending, Inc. Hoozetending, Inc. /Private Group/ Enterprise Software - - -

12/15/2016 VinTank, Inc. Avero LLC Other SaaS - - -

12/14/2016 NeuStar, Inc. Golden Gate Private Equity, Inc.; GIC Special

Investments Pte Ltd.; Golden Gate Capital

/Private Group/

IT Services 2,698.74

2.32x 6.09x

12/14/2016 Tri Gem Co. LLC Six S Partners Inc IT Services - - -

12/14/2016 The MW Bagnall Co. Arthur J. Gallagher & Co. Enterprise Software - - -

12/14/2016 Abakus, Inc. SAP SE Marketing Software - - -

12/13/2016 NexID Biometrics LLC Precise Biometrics AB Healthcare IT 3.48 - -

12/13/2016 Admo.Net Web Services LLC Contegix LLC Infrastructure/Hosting - - -

12/13/2016 Eager Platform Co. Cloudflare, Inc. IT Security - - -

12/13/2016 Cronologics Corp. Google, Inc. Tech Conglomerates - - -

12/13/2016 Twin Prime, Inc. salesforce.com, inc. Other SaaS - - -

12/12/2016 Keystroke Creative, Inc. MapAnything, Inc. Other SaaS - - -

12/12/2016 Lionbridge Technologies, Inc. (Delaware) H.I.G. Capital LLC (Private Equity) Marketing Software430.27

- -

12/12/2016 NavPort LLC Warburg Pincus LLC; RS Energy Group Data & Analytics - - -

12/12/2016 Online Banking Solutions, Inc. Fiserv, Inc. Financial Technology - - -

12/12/2016 Trisect LLC Match Marketing Group, Inc. Marketing Software - - -

12/12/2016 Revitas, Inc. Model N, Inc. Enterprise Software - - -

12/12/2016 Beeline.com, Inc. IQNavigator, Inc.; GTCR LLC Enterprise Software 130.00 - -

12/12/2016 National Pen Co. LLC Cimpress USA, Inc. Marketing Software 218.00 - -

12/8/2016 MobileGuard, Inc. Smarsh, Inc.; Toba Capital LLC Healthcare IT - - -

12/8/2016 DotaCoach.org Gamer Sensei LLC Enterprise Software - - -



($ in Mil)TEV/ Rev

TEV/

EBITDA12/8/2016 Smart Track Logistics, Inc. NASCENT Technology LLC Marketing Software - - -

12/8/2016 Delectable, Inc. All Grapes Media LLC Supply Chain Software - - -

12/8/2016 KBI Biopharma, Inc. JSR Corp.; CMIC Holdings Co., Ltd.; KBI

Biopharma, Inc. /Private Group 1/

Other SaaS-

- -

12/8/2016 Systema Software LLC Insurity, Inc. Enterprise Software - - -

12/8/2016 LearnSmart Vector Solutions, Inc. IT Security - - -

12/8/2016 Meople Intellectsoft LLC Other SaaS - - -

12/7/2016 Fidelity National Information Services, Inc.

/Sungard Educ/

Vista Equity Partners Management LLC Other SaaS850.00

- -

12/7/2016 Computer Assisted Testing Service, Inc. PSI Services LLC IT Services -

- -

12/7/2016 Thrive Networks, Inc. TAC Partners, Inc. Other SaaS - - -

12/7/2016 Source Path Consulting LLC Bischer Technologies LLC IT Services - - -

12/7/2016 Black Knight Financial Services, Inc. Shareholders Financial Technology - - -

12/7/2016 Sungard Data Systems, Inc. /Subs (2)/ PowerSchool Group LLC; Vista Equity Partners

Management LLC

Financial Technology850.00

- -

12/6/2016 Deltek, Inc. Roper Technologies, Inc. IT Security 2,800.14 - -

12/6/2016 Intralinks Holdings, Inc. Synchronoss Technologies, Inc. Enterprise Software 785.46 - -

12/6/2016 Optiv Security, Inc. KKR & Co. LP Enterprise Software - - -

12/6/2016 Liquid Robotics, Inc. The Boeing Co. Data & Analytics - - -

12/6/2016 Curriculet, Inc. Waterford Institute, Inc. Other SaaS - - -

12/6/2016 InAuth, Inc. American Express Co. IT Security - - -

12/6/2016 Velocity Networks, Inc. /PA/ Globalgig Ltd. IT Services - - -

12/6/2016 Dasheroo, Inc. FreshLime, Inc. Data & Analytics - - -

12/6/2016 Consolidated Communications Holdings,

Inc. /IT Svcs Equip Bus/

ePlus Technology, Inc. IT Services -

- -

12/6/2016 Standardware, Inc. Compuware Corp.; Thoma Bravo LLC Other SaaS - - -

12/5/2016 Geometric Intelligence, Inc. Uber Technologies, Inc. Data & Analytics - - -

12/5/2016 HealthTab, Inc. Vanc Pharmaceuticals, Inc. Healthcare IT - - -

12/5/2016 Profiling Solutions /SugarCRM Practice/ BrainSell Technologies LLC Enterprise Software-

- -

12/5/2016 Atidan LLC Razor Technology LLC IT Services - - -

12/5/2016 Cardeeo, Inc. Session M, Inc. Other SaaS - - -

12/2/2016 Zementis, Inc. Software AG Data & Analytics - - -

12/2/2016 Appointment.com LLC DigitalTown, Inc. Enterprise Software - - -

12/2/2016 Shafer Solutions, Inc. /SugarCRM Practice/ BrainSell Technologies LLC Enterprise Software-

- -

12/2/2016 TBC Integration, Inc. Blackhawk Network Holdings, Inc. Infrastructure/Hosting - - -

12/1/2016 CardinalCommerce Corp. Visa, Inc. Financial Technology - - -

12/1/2016 Streamline Health Solutions, Inc. /Looking

Glass Business/

Document Storage Systems, Inc. Healthcare IT2.00

- -

12/1/2016 Yes, Inc. Twitter, Inc. Marketing Software - - -

12/1/2016 Alsbridge, Inc. Information Services Group, Inc. Infrastructure/Hosting 74.23 1.29x -

12/1/2016 AppFormix, Inc. Juniper Networks, Inc. Infrastructure/Hosting - - -

12/1/2016 Hermes Development LLC 11 Online, LLC Other SaaS - - -

11/30/2016 Triberr, Inc. NRJ Group SA Other SaaS - - -

11/30/2016 Trillium Software, Inc. Syncsort, Inc.; Clearlake Capital Group LP Marketing Software 112.00 - -

11/30/2016 Pravala Networks Tuscarora Communications LLC Data & Analytics - - -

11/30/2016 Succeed Management Solutions LLC CIVC Partners LP; KPA Services, LLC Other SaaS - - -

11/30/2016 Array Health Solutions, Inc. GetInsured.com Enterprise Software - - -

11/30/2016 Snowflake Technologies, Inc. Snowflake Technologies, Inc. /Drako/ Healthcare IT - - -

11/30/2016 Bowles-Langley Technology, Inc. Predictive Safety LLC IT Services - - -

11/30/2016 Data Connect Corp. Predictive Safety LLC IT Services - - -

11/30/2016 Teogas, Inc. Kelso & Co. LP; Sirius Computer Solutions, Inc. IT Services -

- -



($ in Mil)TEV/ Rev

TEV/

EBITDA11/30/2016 Gps Status Test & Fix Appsbuyout Other SaaS - - -

11/29/2016 eGov Holdings, Inc. Booz Allen Hamilton Holding Corp. Other SaaS 250.00 2.34x -

11/29/2016 SmartSapien, Inc. Zipongo, Inc. Other SaaS - - -

11/29/2016 Akana, Inc. Rogue Wave Software, Inc.; Audax Private

Equity

IT Services -

- -

11/29/2016 Hightower, Inc. (New York) VTS, Inc. (New York); Blackstone Real Estate

Advisors

Other SaaS300.00

- -

11/29/2016 Lanyon, Inc. Cvent, Inc. Marketing Software - - -

11/29/2016 Distributed Systems Services, Inc. Contegix LLC; Strattam Capital LLC Infrastructure/Hosting - - -

11/28/2016 Email Copilot, Inc. Return Path, Inc. Marketing Software - - -

11/25/2016 Constellation Healthcare Technologies, Inc. CC Capital Management LLC; Constellation

Healthcare Technologies, Inc. /Private Group/

Healthcare IT223.72

- -

11/24/2016 RealWinWin, Inc. BidEnergy, Inc. Other SaaS 0.67 - -

11/23/2016 Bluebridge Digital LLC /Church App

Busines/

Pushpay Holdings Ltd. Other SaaS3.10

- -

11/23/2016 iSheriff Ltd. Mimecast Ltd. (Jersey) IT Services - - -

11/23/2016 Soltra Solutions LLC NC4, Inc. IT Security - - -

11/21/2016 Dynamic Network Services, Inc. Oracle Corp. Data & Analytics 700.00 - -

11/21/2016 Mergent, Inc. London Stock Exchange Group Plc Enterprise Software - - -

11/21/2016 Net Element, Inc. Sandpiper Digital Payments AG Other SaaS - - -

11/21/2016 Qwiklabs, Inc. Google, Inc. Financial Technology - - -

11/21/2016 Edgenet, Inc. (Georgia) Marlin Management Co. LLC Financial Technology - - -

11/21/2016 File & ServeXpress Holdings LLC Strait Lane Capital Partners LLC IT Services - - -

11/20/2016 LifeLock, Inc. Symantec Corp. Data & Analytics 2,096.19 - -

11/17/2016 FacioMetrics LLC Facebook, Inc. Marketing Software - - -

11/17/2016 Arbor Technologies, Inc. LiveRamp, Inc. IT Security - - -

11/17/2016 Circulate.com, Inc. LiveRamp, Inc. Data & Analytics - - -

11/17/2016 Collective Bias, Inc. Carolina Promotions Services, Inc. Other SaaS - - -

11/17/2016 Little Bird Technologies, Inc. Sprinklr, Inc. Marketing Software - - -

11/17/2016 Seapine Software, Inc. Perforce Software, Inc. Other SaaS - - -

11/17/2016 Latitude Technologies LLC Accel-KKR LLC; Energy Services Group LLC Marketing Software-

- -

11/17/2016 Machinima, Inc. Warner Bros. Entertainment, Inc. Enterprise Software 100.00 4.00x -

11/17/2016 Ansira Partners, Inc. Advent International Corp.; Ansira Partners, Inc.

/Private Group/


- -

11/17/2016 Nuspire Corp. ABRY Partners LLC Other SaaS - - -

11/17/2016 CLINapps, Inc. Bracket Global LLC; Parthenon Capital LLC Healthcare IT-

- -

11/16/2016 OpinionLab, Inc. Verint Systems, Inc. Data & Analytics 84.40 4.18x -

11/16/2016 Astute Technology LLC Echo 360, Inc.; Revolution Capital Healthcare IT - - -

11/16/2016 CircuiTree LLC Aquiline Capital Partners LLC; Togetherwork

Holdings, LLC

Other SaaS-

- -

11/15/2016 DataScale, Inc. DataStax, Inc. Data & Analytics - - -

11/15/2016 Xangati, Inc. Virtual Instruments Corp. Data & Analytics - - -

11/15/2016 Structured Data Intelligence LLC Hulu LLC Data & Analytics - - -

11/15/2016 Wise.Io, Inc. GE Digital Energy, Inc.; GE Industrial Systems Data & Analytics -

- -

11/15/2016 Siege Technologies LLC Allied Soft LLC (Virginia) IT Security - - -

11/15/2016 Intromaps LLC Headhunter Technologies Ltd. Other SaaS - - -

11/15/2016 Ponderosa Energy LLC Drilling Info, Inc. Data & Analytics - - -

11/14/2016 Hackster, Inc. Avnet, Inc. Healthcare IT - - -

11/14/2016 ServiceMax, Inc. GE Digital Energy, Inc.; GE Industrial Systems Enterprise Software915.00

- -

11/14/2016 Intelligent Software Solutions, Inc. Arlington Capital Partners LLC; EOIR

Technologies, Inc.; PROTEUS Technologies LLC

Other SaaS-

- -



($ in Mil)TEV/ Rev

TEV/

EBITDA11/14/2016 Apptix, Inc. Fusion Telecommunications International, Inc. Other SaaS

$29.05- -

11/14/2016 PROTEUS Technologies LLC Arlington Capital Partners LLC; EOIR

Technologies, Inc.

Infrastructure/Hosting-

- -

11/11/2016 Virtual Security Research LLC NCC Group Plc IT Security 6.00 - -

11/10/2016 Moneris Solutions, Inc. Vantiv, Inc. Other SaaS 425.00 - -

11/10/2016 TubeMogul, Inc. Tiger Acquisition Corp. Marketing Software 492.10 2.32x NM

11/10/2016 Uniconnect LC Sunquest Information Systems, Inc. Other SaaS - - -

11/10/2016 CloudMade, Inc. Valeo SA Other SaaS - - -

11/10/2016 Great Parents Academy LLC Quadrant4 Systems Corp. Other SaaS 0.41 - -

11/10/2016 Stratitude, Inc. Quadrant4 Systems Corp. Data & Analytics 6.91 - -

11/10/2016 Auto Flight Logic LLC Hangar Technology, Inc. Other SaaS - - -

11/10/2016 Problem Solved, Inc. Matica Technologies AG Financial Technology - - -

11/9/2016 Specialty Consumer Services LP Meta Financial Group, Inc. Financial Technology 52.86 - -

11/9/2016 Aldera Holdings, Inc. Evolent Health, Inc. Healthcare IT 34.03 - -

11/8/2016 Leap Forward Gaming, Inc. International Game Technology Plc Enterprise Software - - -

11/8/2016 Ground Swell, Inc. Ancero LLC Other SaaS - - -

11/8/2016 Cyber Algorithms Insight Venture Management LLC; Thycotic

Software Ltd.

IT Services -

- -

11/8/2016 Prometheus Group Enterprises LLC Francisco Partners Management LLC IT Security - - -

11/7/2016 EarthLink Holdings Corp. Windstream Holdings, Inc. Healthcare IT 1,008.35 1.02x 4.88x

11/7/2016 Datalink Corp. Insight Enterprises, Inc. IT Security 213.98 0.28x 11.24x

11/7/2016 Building Data LLC Trimble, Inc. IT Security - - -

11/7/2016 Marketeching Solutions LLC The W2O Group; Mountaingate Capital

Management LP


- -

11/7/2016 Enovation Controls LLC /Power Control &

Vehicle Tech Bus/

Sun Hydraulics Corp. Other SaaS250.00

- -

11/7/2016 RevSpring, Inc. GTCR LLC Data & Analytics - - -

11/7/2016 BioTrackTHC LLC Helix TCS, Inc. Other SaaS - - -

11/7/2016 Financial Control Systems, Inc. STP Investment Services, Inc. Healthcare IT - - -

11/7/2016 Codiscope LLC Synopsys, Inc. Financial Technology - - -

11/7/2016 Next Strategic Technologies, Inc. D2R Solutions, Inc. IT Security - - -

11/7/2016 Collabramind LLC NWN Corp. IT Services - - -

11/7/2016 Competitive Edge Software, Inc. Riverside Partners LLC (New York) Other SaaS - - -

11/7/2016 C2 Facility Solutions LLC Rainmaker Capital Funding, LLC IT Services - - -

11/6/2016 Essential Discovery, Inc. FRONTEO USA, Inc. Other SaaS - - -

11/4/2016 Catbird Networks, Inc. BC Partners Ltd.; Medina Capital Partners, Inc.;

Catbird Networks, Inc. /Private Group/

IT Security -

- -

11/4/2016 Brainspace Corp. BC Partners Ltd.; Medina Capital Partners, Inc.;

Brainspace Corp. /Private Group/

Data & Analytics -

- -

11/4/2016 Collaborative Consulting LLC CGI Technologies & Solutions, Inc. IT Security - - -

11/4/2016 Easy Solutions, Inc. BC Partners Ltd.; Medina Capital Partners, Inc.;

Easy Solutions, Inc. /Private Group/

Data & Analytics -

- -

11/3/2016 Dell Services Group NTT DATA, Inc.; NTT Data International

Services, Inc.

Data & Analytics -

- -

11/3/2016 Crowdstar, Inc. Glu Mobile, Inc. Other SaaS 40.80 - -

11/3/2016 Primeloop, Inc. Inbound Retargeting Technologies, Inc. Other SaaS - - -

11/3/2016 Voke, Inc. (California) Intel Corp. Other SaaS - - -

11/3/2016 The Nuss Group, Inc. Consulting Solutions International, Inc.; White

Wolf Capital LLC

IT Services -

- -

11/3/2016 Atcore Systems LLC Faye Business Systems Group, Inc. Enterprise Software - - -

11/2/2016 Auction123, Inc. ARI Network Services, Inc. Enterprise Software 12.00 - -

11/2/2016 Camber Corp. Huntington Ingalls Industries, Inc. Other SaaS 380.00 1.04x -



($ in Mil)TEV/ Rev

TEV/

EBITDA11/2/2016 Preact, Inc. Spotify Sweden AB Data & Analytics - - -

11/2/2016 RuleArts LLC H3R Investment AG Other SaaS - - -

11/2/2016 Activity Link Systems LLC FareHarbor Holdings, Inc. Other SaaS - - -

11/2/2016 APG Technologies LLC Altamira Technologies Corp. IT Services - - -

11/1/2016 Stable Technologies LLP Originate, Inc. Other SaaS - - -

11/1/2016 Oystir, Inc. DropOutClub LLC Other SaaS - - -

11/1/2016 MITS&C AccountabilIT LLC Enterprise Software - - -

11/1/2016 MenuMax Ben E. Keith Co. Other SaaS - - -

11/1/2016 Boulder Technology LLC Centerline Solutions LLC Other SaaS - - -

10/31/2016 iSqFt, Inc. Roper Technologies, Inc. Infrastructure/Hosting 632.00 - -

10/31/2016 Sfera Studios LLC Deluxe Entertainment Services Group, Inc. Enterprise Software - - -

10/31/2016 VoIP Logic LLC BroadSoft, Inc. Other SaaS 13.40 - -

10/31/2016 ABC Services, Inc. Data Storage Corp., Inc. Data & Analytics 1.88 - -

10/31/2016 ComfortHost.Net Cloud Equity Group LLC Other SaaS - - -

10/31/2016 Micoy Corp. Digital Domain Holdings Ltd. IT Services 5.40 - -

10/31/2016 AuctionVcommerce LLC Integrated Auction Solutions LLC IT Services - - -

10/31/2016 Ministry Brands LLC Insight Venture Management LLC; Ministry

Brands LLC /Private Group/


- -

10/31/2016 StatFuse LLC Shop Tutors, Inc. Data & Analytics - - -

10/28/2016 Caddis Interactive, LLC Lewis Communications, Inc. Other SaaS - - -

10/27/2016 Datasource Consulting LLC ExlService Holdings, Inc. Data & Analytics - - -

10/27/2016 Palamida, Inc. Teachers' Private Capital; Flexera Software LLC IT Services -

- -

10/27/2016 Business Information Technology Solutions,

Inc.

Cognosante LLC IT Services -

- -

10/27/2016 Network Security Group, Inc. Temprano Techvestors, Inc. IT Security - - -

10/27/2016 Mtelligence Corp. Aspen Technology, Inc. Other SaaS 37.40 - -

10/27/2016 Digital Legend Technology, Inc. Ovation Music & Studios, Inc. Other SaaS - - -

10/27/2016 HealthMEDX LLC Netsmart Technologies, Inc.; GI Manager LP Healthcare IT-

- -

10/27/2016 Xtium, Inc. Great Hill Partners LLC; Esroc LLC IT Services - - -

10/27/2016 Auctionservices Com Inc Wavebid LLC Marketing Software - - -

10/27/2016 Starmobile, Inc. PowWow, Inc. Other SaaS - - -

10/26/2016 Flawcheck, Inc. Tenable Network Security, Inc. IT Security - - -

10/26/2016 Vermont Smart Resource Institute, LLC Infiswift, Inc. Other SaaS - - -

10/26/2016 Amadeus Consulting Group, Inc. Exadel, Inc. Other SaaS - - -

10/26/2016 Accunet Solutions, Inc. Red River Computer Co., Inc. IT Services - - -

10/26/2016 Vessel Group, Inc. Verizon Communications, Inc. Other SaaS - - -

10/26/2016 Boston Cash Register Exchange East Commerce Solutions, Inc. Financial Technology - - -

10/26/2016 Nirvana IT, Inc. Xchange Technology Group LLC IT Services - - -

10/26/2016 TranSoft Labs LLC The Computer Hut LLC Other SaaS - - -

10/25/2016 Eyefluence, Inc. Google, Inc. Other SaaS - - -

10/25/2016 Datamatics Management Services, Inc. Kronos, Inc. Enterprise Software - - -

10/25/2016 Lavante, Inc. PRGX USA, Inc. Other SaaS 4.25 - -

10/24/2016 Nuevora, Inc. Sutherland Global Services, Inc. Marketing Software - - -

10/24/2016 New England Systems, Inc. Micro Strategies, Inc. Data & Analytics - - -

10/24/2016 Pragmatic Marketing LLC Petra Capital Partners LLC; Renovus Capital

Partners; Pragmatic Marketing LLC/Private

Group/

IT Services -

- -

10/21/2016 nfrastructure Technologies, Inc. Zones, Inc. Infrastructure/Hosting - - -

10/21/2016 Kroll Ontrack, Inc. The Carlyle Group LP (Corporate Private

Equity); LDiscovery LLC; Revolution Capital

Data & Analytics 410.00

- -

10/20/2016 Tek Leaders, Inc. Tek Leaders, Inc. /Aerrabolu/ Data & Analytics - - -

10/20/2016 FireLayers, Inc. Proofpoint, Inc. IT Services 55.00 - -



($ in Mil)TEV/ Rev

TEV/

EBITDA10/20/2016 Tek Leaders, Inc. Tek Leaders, Inc. /Aerrabolu/ IT Services - - -

10/20/2016 FireLayers, Inc. Proofpoint, Inc. IT Security 55.00 - -

10/19/2016 Floragenex, Inc. Sedia Biosciences Corp. Healthcare IT - - -

10/19/2016 GreyCastle Security LLC Assured Information Security, Inc. IT Security - - -

10/19/2016 Health Data Intelligence LLC Trendshift LLC Healthcare IT - - -

10/19/2016 Fordela Corp. CenterGate Capital LP; Vision Media

Management & Fulfillment LLC

Other SaaS-

- -

10/19/2016 OLSET, Inc. Deem, Inc. Other SaaS - - -

10/18/2016 HealthWyse LLC ABRY Partners LLC; Casamba LLC Other SaaS - - -

10/18/2016 Capture Media, Inc. Tagboard, Inc. Other SaaS - - -

10/18/2016 Source Medical Solutions, Inc. /Physical

Therapy Division/

Casamba LLC Healthcare IT-

- -

10/18/2016 Mozu Vista Equity Partners Management LLC; Kibo

Software, Inc.

Other SaaS-

- -

10/18/2016 Tigerlogic Corp. /Omnis business/ OLS Holdings Ltd. Enterprise Software 2.00 - -

10/17/2016 Heroik Labs, Inc. Cisco Systems, Inc. IT Services - - -

10/17/2016 Taptera, Inc. Hummingbird Partners NV; Showpad NV Enterprise Software - - -

10/17/2016 ProKarma, Inc. The Carlyle Group LP (Corporate Private Equity) Enterprise Software-

- -

10/14/2016 PitchBook Data, Inc. Morningstar, Inc. (Research) Data & Analytics 225.00 7.23x -

10/13/2016 Prism Microsystems, Inc. Providence Equity Partners, Inc.; Netsurion LLC IT Services -

- -

10/13/2016 RoboVest, Inc. InvestView, Inc. Financial Technology - - -

10/13/2016 Vaco Nashville LLC /Technology Services/ Advanced Network Solutions (DE) LLC IT Services -

- -

10/13/2016 Totspot, Inc. Poshmark, Inc. Other SaaS - - -

10/12/2016 Appterra, Inc. The Descartes Systems Group, Inc. Supply Chain Software 7.40 - -

10/12/2016 GlobalServe, Inc. PC Connection, Inc. Supply Chain Software 11.88 - -

10/12/2016 Chalkable, Inc. PowerSchool Group LLC; Vista Equity Partners

Management LLC

Other SaaS-

- -

10/11/2016 The Radiant Group, Inc. DigitalGlobe, Inc. Data & Analytics 140.00 - -

10/11/2016 Synaptic Solutions, Inc. CM Equity Partners; Preferred Systems

Solutions, Inc.

IT Services -

- -

10/11/2016 Meshify, Inc. The Hartford Steam Boiler Inspection &

Insurance Co.

IT Services -

- -

10/11/2016 SimaFore LLC Soliton Technologies Pvt Ltd. Data & Analytics - - -

10/10/2016 Galaxy Semiconductor, Inc. Mentor Graphics Corp. Data & Analytics - - -

10/10/2016 Wheelhouse Analytics LLC Envestnet, Inc. Data & Analytics - - -

10/8/2016 The Keyw Holding Corp. /2 Subs/ Versata Enterprises, Inc. IT Security - - -

10/7/2016 Advantego Technologies, Inc. Golden Eagle International, Inc. Marketing Software 3.20 - -

10/6/2016 Convey Health Solutions, Inc. New Mountain Capital LLC Healthcare IT - - -

10/6/2016 Reval Holdings, Inc. The Carlyle Group LP (Corporate Private

Equity); ION Investment Group Ltd.

Other SaaS-

- -

10/6/2016 OnFaith, Inc. Deily.Org Other SaaS - - -

10/6/2016 Warkentine, Inc. Transaction Data Systems, Inc. Healthcare IT - - -

10/5/2016 Defense Point Security LLC Accenture Federal Services LLC Data & Analytics - - -

10/5/2016 Viv Labs, Inc. Samsung Electronics Co., Ltd. IT Security - - -

10/5/2016 Medigain LLC Medical Transcription Billing Corp. Data & Analytics - - -

10/5/2016 Decision Science Labs LLC Kapor Capital; Reach Capital; Schoolzilla PBC,

Inc.

Healthcare IT-

- -

10/5/2016 Mu Sigma, Inc. Mu Sigma, Inc. /Rajaram/ Other SaaS - - -

10/4/2016 HookLogic, Inc. Criteo Corp. Infrastructure/Hosting 250.00 2.24x -

10/4/2016 Soha Systems, Inc. Akamai Technologies, Inc. Marketing Software 60.00 - -

10/4/2016 Mobi Corp. BSM Technologies Ltd.; BSM Analytics, Inc. IT Security 25.00

- -

10/4/2016 CD Group, Inc. TAC Partners, Inc.; Denovo Ventures LLC Other SaaS - - -

10/4/2016 Primary Provider Management Co., Inc. Clayton Dubilier & Rice LLC Enterprise Software - - -



($ in Mil)TEV/ Rev

TEV/

EBITDA10/4/2016 Falcon Consulting Group LLC New MainStream Capital; Avaap, Inc. IT Services - - -

10/3/2016 Micrium, Inc. Silicon Laboratories, Inc. Other SaaS - - -

10/3/2016 GQ Life Sciences, Inc. Aptean, Inc. Other SaaS - - -

10/3/2016 FJC Security Services, Inc. Allied Universal Corp. IT Security - - -

10/3/2016 Krux Digital, Inc. salesforce.com, inc. Other SaaS 767.98 - -

10/3/2016 D4 LLC Adecco Group AG IT Services - - -

10/3/2016 SCS, Inc. Sikich LLP Enterprise Software - - -

10/1/2016 Carolina CAD Solutions, Inc. TPM, Inc. Other SaaS - - -

10/1/2016 WHMCSapps.com WHMCS Services.com Financial Technology - - -


Technology Report Q4 2016 - sdr-uyfpxh6dk.netdna-ssl.com · Date Target Buyer(s) Segment Amount ($...

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