M&A Snapshot Q4 2016

Web: architectpartners.com | Email: jar@architectpartners.com

 M&A SNAPSHOT
Q4 - 2016
2014 2015 2016
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Total M&A Exits (a) 539 639 785 604 630 688 792 797 730
Core M&A exits up 20%
year-over-year.
Up 24% from Q3.

113
103
86 94 91
76 80 79
Core M&A Exits (b) 63

$25.9

$22.1
$20.5 $21.0 $21.2
$20.0
Consideration
$14.8
Exchanged $13.8 $13.5

$billions (b)

Average Consideration
$230mm.
Proportion Premium Value (c) Down 2%Year-OverYear

% of Total M&A Exits 4% 4% 3% 3% 3% 3% 2% 3% 2%

% of Core M&A Exits 29% 27% 20% 24% 19% 25% 18% 23% 15%
Source: Architect Partners LLC, Capital IQ, company filings and public information
a) M&A exits within Mobile | Internet | Digital Media sectors
b) Core M&A exits are defined as transactions with announced or estimated values between $25 million and $1 billion in consideration, as these typically represent successful business-
building endeavors
2
c) Premium value transactions are defined as greater than 5 times invested equity capital or 5 times estimated last twelve months revenue (LTM)
M&A BY SECTOR Service Provider
Q4 - 2016 Consumer
Application
13%
Ecommerce 9% Analytics
14% Application
6%

Media 8%

4% 21% Enterprise
Security 4% Application

Network 12% 8%
Core Transactions by Sector Infrastructure Number of Deals
Hardware
Digital by Sector
Marketing

SECTORS
Consumer Application
Enterprise Application
Analytics Application
Network Infrastructure
App Development
Security
Ecommerce
Digital Marketing
Media
Hardware
$1,377 $7,130 $665 $726 $1,242 $2,735 $2,265 $1,925 $3,147 $4,734 Service Provider
Total sector M&A value in $mm Source: Architect Partners LLC, Capital IQ, company filings and public information 3
 PREMIUM VALUE DEALS Premium Value is defined as greater than 5 times invested equity capital
Q4 - 2016 or 5 times the estimated last 12 months revenue (LTM)

Target | Acquirer x LTM Revenue

Beijing Guohua Huiyin Tech | Xinhua Financial 39x LTM revenue multiple of
the target at the time of
Mediacontech S.p.A. | Europa Investimenti Special 23x acquisition
ServiceMax | GE Digital
ISqFT, Inc. | Roper Technologies LTM revenue multiple of
the acquirer at the time
Bit Stew Systems | GE Multillin Co. of acquisition, if available
Wipro Ecoenergy | Chubb Alba Control Systems
NXP Semiconductors | Qualcomm
0 2 4 6 8 10 12 14 16 18 20

Target | Acquirer x Invested Capital

Grid Dynamics | Automated Systems Holdings 79x
Art of Click | Xurpas Inc. 56x
Heptagon Micro Optics | ams AG 27x
Krux Digital Inc. | Salesforce
Operative Media | SintecMedia
PerBlue, Inc. | GREE International Entertainment
Delivery Club | Mail.Ru Group
Rightware Oy | Thunder Software Tech
Vocality International | Cubic Corporation
Appirio Inc. | Wipro Ltd.
0 2 4 6 8 10 12 14 16 18 20
Source: Architect Partners LLC, Capital IQ, company filings and public information
4
MOST ACTIVE
ACQUIRERS LTM
(In terms of number of Acquisitions)

1. 2. 3. 4. 5.
4 / 12 | $745mm 2 / 10 | $9.0B 0 / 9 | $28.3B 2 / 8 | $4.2B 3 / 7 | NA
Cronologics SocialRadar None Krux Digital CrowdTangle
Eyefluence Vessel Group TwinPrime FacioMetrics
Famebit InfiniLED
Qwiklabs

6. 7. 8. 9. 10.
1 / 7 | $2.0B 0 / 7 | $10.8B 1 / 6 | $230mm 3 / 5 | $1.1B 2 / 5 | $525mm
WorkLife Solutions None Fluid Bit Stew Systems MA Vinci
ServiceMax VOKE
Wise.io

Number of new deals in Q4 / total deals last 4 quarters | total spend last 4 quarters (a)

a) A number of transactions do not disclose acquisition price, so aggregate value of deals over the last twelve months is likely understated.

Source: Architect Partners LLC, Capital IQ, company filings and public information 5
CORE TRANSACTIONS
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Oers a cloud-based platform that enables advertisers to plan, buy,
Adobe Systems TubeMogul, Inc. 530 measure, and optimize video advertising spend from a single platform.
Founded in 2007, based in Emeryville, CA.

Designs, manufactures, and markets mirco-optics systems for smart devices.

ams AG (SWX:AMS) Heptagon Micro Optics Pte Ltd 919 x
Founded in 1993, based in Singapore.

Icardpay.com operates a third party payment website. Founded in 1999,

Anhui Xinli Finance Co. Icardpay.com 35
based in Shanghai, China.

Oers Mtelligence Asset Performance Management (APM) to provide

decision makers at manufacturing and process companies with a set of tools
Aspen Technology, Inc. Mtelligence Corporation 37
for measuring and improving asset performance. Founded in 2006 and is
based in San Diego, CA.
Provides eCommerce technology solutions for the retail industry in the areas
Automated Systems
Grid Dynamics International 118 of omni-channel digital platforms, cloud enablement and continuous x
Holdings
delivery. Founded in 2006, based in Menlo Park, CA.

Provides Web-based solutions for the federal government. Founded in 1979,

Booz Allen Hamilton Inc. eGov Holdings, Inc. 250 x
in Laurel, ML.

Oers Serve Me! Suite, a front and back oce system for broker-dealers that
Broadridge Financial
M&O Systems, Inc. 25 provides data collection, integration, and consolidation tools. Founded in
Solutions
1967, based in New York, NY.

Develops and delivers location-based solutions and analytics that help

BSM Technologies Inc. Mobi Corp. 25 businesses drive down costs, increase customer satisfaction, and improve x
productivity. Founded in 1996, based in Austin, TX.
Designs and integrates secure cloud based and on premise information
technology (IT) network infrastructures that enhance performance,
C5 Capital Ltd ITC Secure Networking Ltd 30
safeguard information, and simplify management. Founded in 1995, based in
London, UK.
Dsigns and develops business automation software. The company serves
CA Europe S.a.r.l. Automic Holding GmbH 638 energy, financial services, healthcare, manufacturing, retail and
telecommunications sectors. Founded in 1985, based in Vienna, Austria.

Oers transaction switching and processing services on automated banking

Cardtronics Holdings
DirectCash Payments Inc. 425 machines (ATMs) and for debit and credit cards. Founded in 1997, based in
Limited
Calgary, Canada.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 6
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Beijing Great Wall Electronic Manufactures underwater acoustic communication and electric control
CEC CoreCast Co. 169
Equipment Co. Ltd. systems. Founded in 1964, based in Beijing, China.

Operates online casino, sports betting, poker, and other gaming Websites. It
operates brands, including ComeOn.com, Mobilbet.com, CasinoStugan.com,
Cherry AB Come On Malta Limited 297
folkeautomaten.com, Suomikasino.com, GetLucky.com, and Kasyno.pl.
Founded in 2009, based in Pieta, Malta.

Chubb Alba Control Provides solutions for enterprise-wide energy operations and eciency
Wipro Ecoenergy 70
Systems management. Founded in 2008, based in East Brunswick, NJ.

Oers Stratum, a private cloud solution for enterprises that provides a

Acclivis Technologies and
CITIC Telecom International 54 business-to-business and application integration platform. Founded in 2009,
Solutions Pte. Ltd.
based in Singapore.
Oers tRIPS, an online booking tool; and automated systems that provide
Corporate Travel solutions ranging from door to door travel booking and real time itineraries
Redfern Travel Ltd. 53
Management to automatic invoicing and traveler tracking. Founded in 1937, based in
Bradford, UK.

Provides performance marketing services to manufacturers, hotels and

Criteo Corp. HookLogic, Inc. 250 x
ecommerce platforms. Founded in 2004, based in New York, NY.

Provides information technology (IT) managed services and independent

Daisy Intermediate Alternative Networks Plc
230 business-to-business communication solutions in the United Kingdom.
Holdings Limited (AIM:AN.)
Founded in 1994, based in London, UK.

Dalian Zeus Entertainment Develops and sells specialized software for Personal Digital Assistants.
Pocket Technology 153
Co. Founded in 2002, based in Vancouver, Canada.

Manufactures, sells, and services smart cards and related reader devices.
Dingli Corp., Ltd. Esim Technology Co., Ltd 99
Founded in 2001, based in Shanghai, China.

Oers demand generation solutions that accelerate partner program with

TIE Kinetix N.V., All The
DW Vastgoed Holding BV
Subsidiaries And Activities
eBay Inc. Corrigon Ltd.
automated content distribution, lead generation, and sales conversion
34
solutions for ecommerce platform providers. Founded in 1987, based in
Breukelen.
Develops image recognition technologies. Its Corrigon Image Search
technology is based on an indexing method that enables image retrieval,
30
which can compare an image with various others in real time. Founded in
2008, based in Tel Aviv, Israel.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 7
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Oers Internet, digital TV, video rental, and recording services, as well as
time machine services to watch TV programs and shows at the appropriate
Elisa Oyj AS Starman 161
time and Starbox, a set-top box; and phone call services. Founded in 1992,
based in Tallinn, Estonia.
Enel Iberoamrica, S.R.L., Enel Iberoamrica, S.R.L., Systems and Telecommunication Business
Endesa Servicios S.L. Systems and 255 comprises telecommunication services. Founded in 2006, based in Rome,
Telecommunication Business Italy.
Specializes in embedded DPI (deep packet inspection)-based IP (Internet
protocol) trac classification and network intelligence technology solutions
Enea AB (OM:ENEA) Qosmos SA 57 x
for use in physical, SDN, and NFV architectures. Founded in 2000, based in
Paris, France.

Europa Investimenti Special Provides services for the creation, management, and delivery of content for
Mediacontech S.p.A. (BIT:MCH) 53
Situations Srl broadcast and digital media markets. Founded in 1972, based in Milan, Italy.

Develops, produces, and sells personal reconnaissance systems for solutions

FLIR Systems, Inc. Prox Dynamics AS
Foxconn Singapore Pte. Smart Technologies Inc.
GE Digital LLC ServiceMax, Inc.
GE Multilin Company Bit Stew Systems Inc.
3M's Document Reader and
Gemalto NV
Secure Materials Businesses
Glu Mobile, Inc. CrowdStar, Inc.
to complex problems based on modern microelectronics, new sensor
134
technology, creative mechanical design, and ecient low-cost production
techniques. Founded in 2007, based in Hvalstad, Norway.
Oers educational technology solutions including large-format displays,
collaboration software, and services that enable interactive, engaging, and
216
productive teaching, learning, and work experiences in schools and
workplaces. Founded in 1987, based in Calgary, Canada.
Develops cloud-based field service software solutions that help companies
and their field service workers to manage contracts, scheduling, invoicing,
915 x
scheduling, maintenance planning and industrial parts. Founded in 1999,
based in Pleasanton, CA
Develops MIx Core, a platform that solves the data integration needs of the
industrial Internet of Things; and provides machine intelligence, edge
153 x
analytics, dynamic adapters, semantic modeling, and pluggable architecture
solutions. Founded in 2005, based in Burnaby, Canada.
Develops and manufactures biometric identification equipment for
850 governments, law enforcement agencies, and commercial enterprises
worldwide. These assets are located in the United States.
Designs and develops fashion styling games for women worldwide. The
companys games allows to style head-to-toe looks with brands. Its games
45 x
are found across platforms, including Apple's iOS, Google Play, Amazon, and
Microsoft. Founded in 2008, based in Burlingame, CA.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 8
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
GREE International DragonSoul of PerBlue, Inc. comprises a mobile role playing game. Asset is
PerBlue, Inc., DragonSoul 35 x
Entertainment, Inc. located in Cambodia.

Reliance Globalcom Services, Ethernet Business of Reliance Globalcom Services comprises the Ethernet
GTT Americas, LLC 28
Ethernet Business business and internet service provider business in Slovakia.

Owns and operates a global network of over 220 network Points of

GTT Communications, Inc.
Guidewire Software, Inc.
Hibernia NGS Limited 585 Presence (PoPs) connecting North America, Europe and Asia. Hibernia is in
89 markets and 25 countries. Founded in 173, based in Dublin, Ireland.
Designs and develops a Web based policy administration suite. It oers The
SurePower Innovation Policy Administration, a platform that provides policy
ISCS, Inc. 160
administration, claims, billing, underwriting, and reinsurance. Founded in
1994, based in San Jose, CA.

Tianjin Huijiayuantian Engages in developing digital media tools for marketing and public
HC International Inc. 52
Advertisement Media Co. relations. The company is headquartered in Tianjin, China.

Designs, develops, and distributes digital radio products and systems,

Hytera Communications Co.
IDOX plc
Executive Channel International
Inlink Group Pty Ltd.
Sepura PLC 201 complementary accessories, support tools, and devices in the United
Kingdom and internationally. Founded in 1896, based in Cambridge, UK.
Oers clinical tools, including Climate-HIV, an HIV electronic patient record
software solution that provides access to patient data and helps in
6pm Holdings Plc 39 educating the patients; and ConCERT-D, an electronic patient record
designed for the treatment of dementia patients. Founded in 1996, based in
Birkirkara, Malta.
Provides oce media solutions that facilitate connections between property
52 owners, oce executives, and advertisers in Australia. Founded in 2014,
Pty Ltd.
based in Pyrmont, Australia.

Develops mixed signal advanced digital signal processing system-on-chips

Inphi Corporation ClariPhy Communications, Inc. 300 targeting multi-mode and multi-rate high performance optical network
applications. Founded in 2002, based in Irvine, CA.

Oers data center consolidation and virtualization services, including private

cloud computing; storage and data protection services, and the
Insight Enterprises Inc. Datalink Corporation 309
implementation of virtualization solutions; and managed services, such as
operational and client support. Founded in 1958, based in Eden Prairie, MN.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 9
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Oers fixed line services, such as post paid and pre paid fixed phone lines,
Investel Communications and integrated services digital network services; mobile GSM, pre paid and
Timor Telecom, SA. 62
Limited post paid mobile, and voice mail services; and Internet services. Founded in
2002, based in Dili, East Timor.
Designs, manufactures, and sells computers. It operates through Computer
JDL Giken Yugen Kaisha Japan Digital Laboratory Co. 660 System and Scheduled Airline Transportation segments. Founded in 1968,
based in Tokyo, Japan.

Jiangsu Linyang
Photovoltaic Technology Huale Optoelectronic Co.
Co.
Jike Investment Co.
VTC Electronics Co.
Manufactures LED products and computer hardware. Founded in 2011,based
54
in Qidong, China.
Researches, develops, and sells security products worldwide. It oers
security software applications, devices, and services to various industries,
52
such as healthcare, bio-pharmaceuticals, gaming, transportation, and oil and
gas. Founded in 1995, based in Taipei, Taiwan.

SkipTheDishes Restaurant Operates as an online platform connecting people to local restaurants and
JUST EAT plc 82
Services Inc. food couriers. Founded in 2012, based in Winnipeg, Canada.

Operates an online platform that enables users to find and order food from
JUST EAT plc hungryhouse.com Ltd. 298
takeaway restaurants in Britain. Founded in 2003, based in London, UK.

Develops an online e-commerce platform for the sale of video games and
KDDI Corporation Online Shopping Business 61
hardware. The asset is located in Japan.

Operates as an Internet service provider oering various networking

services, content, and applications. The company, through joint venture, also
KDDI Corporation BIGLOBE Inc. 614 provides information technology infrastructure services, including data
centers and networks for Internet service providers. Founded in 2006, based
in Tokyo, Japan.
Keppel DC REIT
Owns and operates a data center in Singapore. Founded in 2013, based in
Management Pte. Ltd.; Keppel DC Singapore 3 Pte. Ltd. 101
Singapore.
Keppel DC REIT
Operates as a media company in Germany, rest of Europe, and
KF 15 GmbH; Dieter Heick
internationally. The company operates through Sports, Film, Sports- and
Verpackungsmaschinen Constantin Medien AG 350
Event-Marketing, and Other Business Activities segments. Founded in 1965,
GmbH & Co. KG
based in Ismaning, Germany.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 10
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Oers Mach-Secure integrated checkpoint security solutions, such as Mach-
L-3 Communications MacDonald Humfrey SmartLane, an automated tray handling solution; and Mach-SmartView, a
279
Holdings (Automation) Ltd. secure visualization and audit trail solution. Founded in 1988, based in Luton,
UK.
Provides information management, data recovery, and legal technology
solutions. Its products include Ontrack EasyRecovery, a do-it-yourself data
LDiscovery, LLC Kroll Ontrack Inc. 410 x
recovery software for various operating systems. Founded in 1985, based in
Eden Prairie, MN.
Operates CompareCards.com, a credit card comparison Website. It enables
users to save credit cards and compare cards in the categories of top credit
LendingTree, Inc. Iron Horse Holdings, LLC 130
cards, balance transfer, low interest, rewards, and cash back. Founded in
2005, based in Charleston, SC.
Operates as a healthcare informatics and information systems company. It
M3, Inc. Vidal Group 112 provides on-line access to drug databases and related treatment based
information. Founded in 1985, based in Issy-les-Moulineaux, France.

Operates an online and mobile food delivery marketplace. Founded in 2009,

Mail.Ru Group Delivery Club Ltd. 100 x
based in Moscow, Russia.

Operates as an online travel company in India. It owns Goibibo.com, a B2C

online travel aggregator; redBus.in, an online bus ticketing platform; and
MakeMyTrip Limited ibibo Group Ltd. 795
travelboutiqueonline, a B2B online travel platform. Founded in 2007, based
in Gurgaon, India.
Engages in the printed media, and digital media and radio businesses in the
Telegraaf Media Groep NV
Mediahuis NV 159 Netherlands and internationally. Founded in 1893, based in Amsterdam, the
(ENXTAM:TMG)
Netherlands.

Provides financial transactions processing services. Founded in 2009, based

MetaBank EPS Financial, LLC 44
in Easton, PA.

Sells business mobile gift certificate and oers enterprise mobile marketing,
Metapsplus Inc. Smartcon Co. Ltd. 98
and promotion. Founded in 2011, based in Seoul, South Korea.

Provides high bandwidth connectivity, servers and colocation, data and

Metronet (UK) Ltd M247 Limited 58 network security, Web hosting, technical support, and cloud solutions.
Founded in 2000, based in Manchester, UK.

Oers high-speed Internet, cable television, phone, business data, voice, and
Midco WOW! Lawrence 215 cloud services to residential and business consumers. Founded in 1970,
based in Lawrence, KS.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 11
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Provides integrated solutions for contract, revenue, and compliance
management. It enables companies to create, execute, and manage
Model N, Inc. Revitas Inc. 60 x
contracts and channel sales incentives on premise and in the cloud. Founded
in 1989, based in Philadelphia, PA.

Develops social networking mobile applications. The company is based in

Modern Avenue Group Co. Pinssible Labs 72
Beijing, China.

Develops cloud and embedded software that enables streaming of content

Moore Frres & Company Opera TV AS 114 via Internet devices, smart TV's, Blu-ray disc players, set top boxes, and
video game consoles. Founded in 2015, based in Oslo, Norway.

Provides business and financial information and resources to business and

Morningstar Inc. PitchBook Data, Inc. 180 investment professionals worldwide including VC, M&A and PE reports.
Founded in 2006, based in Seattle, WA.
Oers dRofus, a planning, data management, and BIM collaboration tool
that plans, manages, and maintains data for departments, rooms, room
Nemetschek SE dRofus AS 25
templates, finishes, items, systems, and components. Founded in 2011, based
in Oslo, Norway.

NH Special Purpose Develops and publishes 3D mobile games. The company is based in South
NAT GAMES Co., Ltd. 223 x
Acquisition 9 Co. Korea.

Gracenote, Gracenote Canada,

The targets develop music and video content and technologies for
Nielsen Holding & Finance Gracenote Netherlands, Tribune
560 entertainment industry in the United States and internationally. All three are
B.V. Digital And Tribune
based in the United States.
International Holdco
Develops enterprise asset management (EAM) software solutions to
Nobelium Tech Corp. VIZIYA Corp. 34 enhance enterprise resource planning (ERP)-based asset maintenance
systems. Founded in 2006, based in Hamilton, Canada.

Publishes integrate books, periodicals, electronics, and audio and video

Northern United Publishing
Liaoning Publishing Group 59 products in China. It also oers editing, printing, distribution, and material
& Media (Group) Co.
supply services. Founded in 2000, based in Shenyang, China.
Provides electronic payments processing solutions to merchants across
North America. It provides processing solutions through POS hardware,
NPC Group, Inc. Moneris Solutions, Inc. 425
credit card and debit card payment processing software, and e-commerce
and online payment solutions. Founded in 2000, based in Schaumburg, IL.
atHome Group S.A. owns and operates an online real estate website. REA
Oakley Capital Investments atHome Group S.A. and REA
190 Italia Srl owns and operates a portal of real estate ads. atHome Group S.A. is x
Limited Italia Srl
based in Luxembourg. REA Italia Srl is based in Italy.
Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 12
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Provides voice telecommunications services on a wholesale basis in the
Onvoy, LLC Inteliquent, Inc. 802
United States and internationally. Founded in 2001, based in Chicago, IL.

Provides identification and mobility solutions in Europe, the Middle East, and
Panasonic Co. Zetes Industries SA 166
Africa. Founded in 1984, based in Brussels, Belgium.

Provides online trading services. It oers trading, technical, and marketing

Playtech plc CFH Group A/S 43 solutions to financial institutions within FX and CFDs worldwide. Founded in x
2008, based in Copenhagen, Denmark.

Oers Target-Ad, a video analysis engine that uses video content analysis
Potential Purchaser in
Artimedia PTE Ltd. 35 technology to create ad inventory by finding and mapping unrecognized ad
Caymand Island (PE Shop)
space in online video content. Founded in 1990, based in Singapore.

Develops and licenses liveness detection software that enables fingerprint-

Precise Biometrics AB NexID Biometrics LLC 32 scanning technologies to accurately authenticate scanned images by
mitigating spoof-related risks. Founded in 2005, based in Potsdam, NY.
Engages in the online retail of household and health related goods in China,
Japan, and Indonesia. The companys products include diet and vitamin
Rakuten, Inc. SOUKAI DRUG Co.,Ltd 84
supplements, herbal tea, candies, processed food. Founded in 2000, based
in Tokyo, Japan.

RedWhiteBlue Champion Creston plc provides a range of marketing solutions in the United Kingdom
Creston plc 66
Ltd and internationally. Founded in 1925, based in London, the United Kingdom.

Operates as a cloud-based mobile rewards platform provider in the United

States, Canada, and India. It brings together the interests of consumers,
RhythmOne plc Perk Inc. 42 advertisers, and publishers by oering consumers rewards, such as Perk
Points and other digital goods. Founded in 2009, based in Waterloo,
Canada.
Designs and develops software-as-a-service based construction software to
find commercial construction leads, build relationships, sell product, control
Roper Technologies iSqFt, Inc. 631 the bid management process, and perform digital takeos for the x
commercial construction industry in the United States. Founded in 1993,
based in Cincinnati, OH.
Develops a cloud-based data management platform for marketers, media
companies, publishers, and agencies worldwide. Its DMP unifies people data
Salesforce Krux Digital Inc. 768 from multiple screens and sources; analyzes the data to identify and x
understand individual preferences and expectations; and activates the data
across every channel. Founded in 2010, based in San Francisco, CA.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 13
CORE TRANSACTIONS
Q4 - 2016
BUYER
SciSys plc
Shanghai Douwan Web
Technology Co.
Sony Electronics Huanan Co.,
Shenzhen O-film Tech. Co.
Shenzhen SuperD Shenzhen Coolpad Mobile Tech
Technology Co.
Showroomprive.com SARL
SintecMedia Ltd.
SpeedCast International Ltd
Synchronoss Technologies,
Inc.
Syncsort Inc.
Teledyne Technologies Inc.
Telenet Group Holding NV
Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion.
TRANSACTION
TARGET
VALUE ($MM)
ANNOVA Systems GmbH
Guangzhou Xiaju Network
Technology Co.
Ltd.
Co., Ltd.
Bnk4-SaldiPrivati s.r.l.
Operative Media, Inc.
Harris CapRock
Communications, Inc.
IntraLinks Holdings
Trillium Software, Inc.
e2v Technologies plc
Coditel Brabant SPRL
(CONTINUED)
Premium Value M&A
AP M&A
TARGET DESCRIPTION VC-BACKED
ALERT
Provides news management solutions for individual workflows. Its software
solutions and services enable journalists and interactive content producers
29
to streamline news and production workflows. Founded in 2007, based in
Munich, Germany.
Develops and delivers Android games to mobile users. Founded in 2014,
59 x
based in Guangzhou, China.
Develops, manufactures, and distributes consumer electronics. The
95 Company develops, produces, processes, and sells audio equipment, video
equipment, and other related products.
Manufactures and distributes mobile phones under the brand, ivvi. Founded
39
in 1993, based in Shenzhen, China.
Provides online retailing services for multiple consumer products. Founded
42
in 1996, based in Milan, Italy.
Provides advertising business management solutions for digital publishers,
broadcasters, agencies, and cable networks worldwide. Its software
200 x
solutions help clients in the areas of media sales, billing and reporting, and
business intelligence. Founded in 2000, based in New York, NY.
Oers satellite and terrestrial communication solutions for energy,
425 government, and maritime markets in the United States and internationally.
Founded in 1981, based in Houston, TX.
Povides software-as-a-service (SaaS) solutions for secure enterprise content
902 collaboration within and among organizations in the United States and
internationally. Founded in 1996, based in New York, NY.
Oers a solution that enables business leaders to make decisions with real-
time access to data, a cloud-based solution that focuses on enterprise
112
requirements, and a platform-neutral integration solution. Founded in 1968,
based in Burlington, MA.
Designs and manufactures technology for high performance systems and
813 equipment in the United Kingdom, North America, Europe, the Asia Pacific,
and internationally. Founded in 2002, based in Chelmsford, UK.
Provides cable television network services in the Brussels region. It also
oers broadband digital telecommunication services including high-speed
418 x
internet and fixed and mobile telephony services. Founded in 1965, based in
Brussels, Belgium.
13
CORE TRANSACTIONS (CONTINUED)
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Operates as a telecom company and oers comprehensive mobile and
Telia Company AB Phonero AS 279 x
telephony services. Founded in 1968, based in Kristiansand, Norway.

Provides a searchable database covering the import/export trade of the

Americas, Asia, Africa, and the European Union. The company oers a Web-
The Descartes Systems
Datamyne, Inc. 53 based interface and analytic tools to speed and simplify trade data research, x
Group
as well as to yield information to shape and sharpen global marketing,
prospecting, and sourcing strategies. Founded in 1992, based in Miami, FL.

The Wirecutter and The The Wirecutter and The Sweethome comprises two product
The New York Times 30
Sweethome recommendation websites. Both are located in New York, NY.

Provides graphical user interface solutions for in mobile, automotive, and

Thunder Software other embedded industries worldwide. It oers Kanzi to solve the
Rightware Oy 67 x
Technology Co. implementation and dierentiation problems of 3D user interfaces. Founded
in 2009, based in Espoo, Finland.

Operates as an Internet service provider that oers Web hosting and E-

United Internet AG STRATO AG 624
commerce solutions. Founded in 1997, based in Berlin, Germany.

Viacom International Media Oers television broadcasting services. The company also oers radio and
Television Federal S.A. 345 x
Networks Inc. film production services. Founded in 1973, based in Buenos Aires, Argentina.

Fidelity National Information

Vista Equity Partners; Services Inc, SunGard Public
PowerSchool Group LLC
Vocera Communications,
Inc.
Volkswagen Financial
Services AG
Wipro Ltd.
Fidelity National Information Services Inc, SunGard Public Sector and
850 Education Businesses comprises enterprise software developing business for
Sector and Education
public administration, public safety, and education ocials
Businesses
Develops clinical alarm/alert management and event driven care team
communication solutions.Its platform collects alarm, patient, and care team
Extension, LLC 53
data from various systems, including physiological monitors, nurse call and
lab systems. Founded in 2009 and is based in Fort Wayne, IN.
Paybyphone is parking payment provider that allows customers to pay for
PaybyPhone 32 metered parking through a tollfree number. It was formerly a subsidiary of
PayPoint.
Provides a cloud services platform that oers enterprise crowdsourcing
services. It oers an integrated suite of cloud technology, assets, and
Appirio Inc. 500 analytics, as well as a crowdsourcing community to implement, manage, and x
measure enterprise cloud initiatives. Founded in 2006, based in San
Francisco, CA.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 13
CORE TRANSACTIONS
Q4 - 2016
BUYER
Wolters Kluwer Health, Inc.
Wotaiji International Media
Ltd
Xurpas Inc.
YFC-BonEagle Electronic
Tech Co.
Shenzhen Agricultural Product
Zall Group Ltd. E-commerce Joint Stock
Zee Entertainment
Enterprises Ltd
Zi Davis, LLC Everyday Health, Inc.
ZTE Corp.; Gosuncn
technology group Co., Ltd.
Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion.
TRANSACTION
TARGET
VALUE ($MM)
Emmi Solutions, LLC
Voltage Pictures, LLC
Art Of Click Pte. Ltd.
Monoprice, Inc.
Company
Big Magic Limited
489
Shenzhen ZTEWeLink
Technology Co.
(CONTINUED)
Premium Value M&A
AP M&A
TARGET DESCRIPTION VC-BACKED
ALERT
Designs technology-based solutions to deliver patient engagement aspects
170 for hospitals and health systems, healthcare payers, and ambulatory care
settings. Founded in 2002, based in Chicago, IL.
Operates as a sales, finance, and movie production company. Its film
351 projects include Generation Um, The Whistleblower, The Hurt Locker, and
Killer Joe. Founded in 2005, based in Los Angeles, CA.
Provides mobile marketing solutions for operators, advertisement networks,
advertisers (interactive agencies and brands), publishers, and application
33 developers in Singapore and internationally. It enables advertisers to x
promote content and services to the audience on mobile site or applications.
Founded in 2011, based in Singapore.
Operates as an e-Commerce retailer of cables, components, and accessories
40 for computer and consumer electronics. Founded in 2002, based in Rancho x
Cucamonga, CA.
Shenzhen Agricultural Product E-commerce Joint Stock Company operates
334 business-to-business (B2B) e-commerce platforms for the trading of
agricultural products. The company is headquartered in Shenzhen, China.
Owns, operates, and broadcasts radio and TV channels. It also produces
35
television content. Founded in 2011, based in Mumbai, India.
Operates digital marketing and communications platform for healthcare
marketers primarily in the United States. It designs its health content for
consumers and healthcare professionals to access anytime and anywhere
and to be distributed across various platforms comprising online content,
interactive tools, and applications. Founded in 2002, based in New York, NY.
Develops, manufactures, and markets wireless communication modules,
106 industry customized terminals, and M2M solutions. Founded in 2003, based
in Shenzhen, China.
13
OTHER NOTABLE DEALS
Q4 - 2016 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Operates as a facilities-based provider of a range of integrated communications
CenturyLink, Inc. Level 3 Communications, Inc. 36,045 services. It operates through North America, EMEA, and Latin America segments.
Founded in 1884, based in Broomfield, CO.

Develops a private dashboard where users can follow thousands of Facebook pages
Facebook, Inc. CrowdTangle, Inc. NA and automatically know which posts are going viral or performed the best x
historically. Founded in 2011, based in Baltimore, MD.

Develops an eye-interaction technology solution for controlling augmented reality

Google Inc. Eyefluence NA (AR), virtual reality (VR), and mixed reality (MR) head-mounted display (HMD) x
equipment with eyes. Founded in 2013, based in Milpitas, CA.

Develops and delivers a virtual-reality solution for live actions and events, such as
Intel Corporation VOKE, Inc. NA x
sports, concerts, and fashion shows. Founded in 2004, based in Santa Clara, CA.

Provides high performance mixed signal and standard product solutions for radio
frequency (RF), analog, power management, interface, security, and digital
Qualcomm, Inc. NXP Semiconductors NV 47,646
processing products worldwide. Founded in 2006, based in Eindhoven, the
Netherlands.

Develops a technology that speeds up data transfer over mobile wireless networks
Salesforce Twin Prime, Inc. NA of their users through software that developers can include in their applications. The x
company was incorporated in 2011 and is based in Redwood City, CA.

Designs and engineers connected products and solutions for automakers,

Samsung Electronics America, Harman International Industries,
9,375 consumers, and enterprises worldwide such as audio and home automation
Inc. Inc.
systems. Founded in 1980, based in Stamford, CT.

Provides identity theft protection services for consumers; and consumer risk management
Symantec Corporation LifeLock, Inc. 2,528 services for enterprises in the United States. It operates in two segments, Consumer and
Enterprise. Founded in 2005, based in Tempe, AZ.

Develops artificial intelligence software and machine learning applications. Founded

Uber Technologies, Inc. Geometric Intelligence Inc. NA x
in 2014 and is based in New York, NY.

Operates an online video platform. Its platform enables users to view videos in
Verizon Communications Inc. Vessel Group, Inc. NA various categories, such as comedy, gaming, music, science and ideas, geek, prank, x
food and drink, fashion and beauty. Founded in 2013, based in San Francisco, CA.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 15
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