M&A Snapshot Q1 2017

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

 M&A SNAPSHOT
Q1 - 2017
2015 2016 2017
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Total M&A Exits (a) 639 785 604 630 688 792 797 730 837
Core M&A exits up 29%
year-over-year.

113
103 102
86 94 91
76 80 79
Core M&A Exits (b)

$25.9
$22.1
$20.5 $21.0 $21.0 $21.2
$20.0
Consideration
$14.8
Exchanged $13.5

$billions (b)

Average Consideration
$208mm.
Proportion Premium Value (c) Up 11%Year-OverYear

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

% of Core M&A Exits 27% 20% 24% 19% 25% 18% 23% 15% 19%
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
Q1 - 2017 Ecommerce
Consumer
Application
9%
11% 10%
Analytics
Application
6%

Media 14%

5% 23%
Enterprise
Security
9% Application
4%
Core Transactions by Sector
Network
Infrastructure
11%
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
$2,553 $4,154 $1,013 $2,158 $999 $2,125 $679 $3,067 $2,049 $2,380 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
Q1 - 2017 or 5 times the estimated last 12 months revenue (LTM)

Target | Acquirer x LTM Revenue

Mobileye NV | Intel Corporation 42x LTM revenue multiple of
AppDynamics | Cisco the target at the time of
acquisition
Anime Consortium | Bandai Namco
Invincea | Sophos Group LTM revenue multiple of
LightCyber | Palo Alto Networks the acquirer at the time
The Rainmaker Group Ventures | RealPage of acquisition, if available
Smart Space | 6.cn
Veracode | CA, Inc.
Momondo Group | Kayak Software
0 2 4 6 8 10 12 14 16 18 20

Target | Acquirer x Invested Capital

3Minute Inc. | Gree, Inc. 46x
Trello, Inc. | Atlassian 41x
BI-SAM Technologies | Factset Research 31x
Delta ID | Fingerprint Cards AB
IDV Solutions | Everbridge, Inc.
Tagetik Software | Wolters Kluwer
Stoneriver | Sapiens International
Social Point | Take-Two Interactive
Teads | Altic N.V.
DataRPM Corp | Progress Software
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 / 14 | $737mm 3 / 8 | $27.6B 1 / 8 | $4.2B 2 / 7 | $1.1B 1 / 7 | $7.2B
Appbridge Software Agile Extensions Unity&Variety Critical Technologies Skyward IO
Fabric Donya Labs Nurego
Kaggle Maluuba
Limes Audio

6. 7. 8. 9. 10.
2 / 6 | $9.4B 1 / 6 | $10.3B 0 / 6 | NA 2 / 5 | $650mm 1 / 5 | $15.8B
Melaud Apiary None Souq.com Mobileye
Perch Technologies Thinkbox Software

Number of new deals in Q1 / 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
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Smart Space is an international developer of online mobile games. The
6.cn Inc. Smart Space 55
company is based in China.

Owns and operates TicketSwitch, a middleware platform that connects

accesso Technology Group directly to multiple and non-compatible ticketing platforms, allowing low
Ingresso Group Limited 37
plc cost distribution of time-and-date-specific tickets. Founded in 2011, based in
London, United Kingdom.

Develops, manufactures, and sells wireless healthcare, and related

Aevis Victoria SA LifeWatch AG 135 technologies and systems in the United States, Canada, Europe, Asia, and
internationally. Founded in 2001, based in Zug, Switzerland.

Develops, operates, maintains, and commercializes Touch System Platform, a

cloud based software platform that enables the secure electronic delivery of
Afterpay Holdings Limited Touchcorp Ltd 142 non-physical products, services, and entitlements to their end-users through
various consumer service points. Founded in 2000, based in Melbourne,
Australia.

Teads operates a platform for social video advertising. Founded in 2006,

Altice N.V. Teads 308 x
based in Luxembourg.

Operates an e-commerce platform in the Middle East and North Africa

Amazon Souq.com FZ-LLC 650 region, oering products in the categories of clothing, electronics and x
supplies. Founded in 2005, based in Dubai, United Arab Emirates.

Develops and provides a data management and demand side platform for
Amobee, Inc. Turn Inc. 310 marketers, brands, and agencies. Founded in 2004, based in Redwood City, x
CA.

Ruckus Wireless, Inc. and ICX Ruckus Wireless, Inc. and ICX Switch Business comprises manufacture of Wi-
ARRIS International plc 877
Switch Business Fi solutions and switches. The assets are located in the United States.

Provides a collaborative Web and mobile based application that helps teams
Atlassian, Inc. Trello, Inc. 425 and individuals to stay organized and communicate on projects. Founded in x
2014, based in New York, NY.

Provides merchandising and marketing optimization software for

eCommerce marketers, merchandisers, category managers, and online
ATTRAQT Group PLC Fredhopper BV 31
retailers worldwide. Founded in 2000, based in Amsterdam, the
Netherlands.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 6
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Lianyi Technology develops software solutions for educational universities.
Beijing Thunisoft Co.Ltd Lianyi Technology 216
The company is based in Beijing, China.

Operates as an interactive TV and online casino gaming company in the

Betsson AB NetPlay TV plc 32
United Kingdom. Founded in 2000, based in London, the UK

Provides cloud-based app intelligence and security verification services to

CA, Inc. Veracode, Inc. 614 protect critical data across software supply chains through its security x
platform. Founded in 2005, based in Burlington, MA.

Develops, sells, and supports software that allows IT organizations to move,

Carbonite, Inc. Double-Take Software, Inc. 65 manage, protect, and recover workloads across various physical and virtual
server environments. Founded in 1991, based in Southborough, MA.

Ferroxcube International Manufactures and supplies ferrite components and accessories. Founded in
Chilisin Electronics Corp. 143
Holding B.V. 1998, based in Roermond, the Netherlands.

Manufactures and sells chip resistors and resistor arrays primarily in Taiwan
Chilisin Electronics Corp. Ralec Electronic Corp. 162
and internationally. Founded in 1994, based in Kaohsiung, Taiwan.

Communications Sales & Ofers Internet, telephone, and cloud services. The company provides voice
Hunt Telecommunications, LLC 170
Leasing, Inc. and data services. Founded in 2004, based in Metairie, LA.

Designs, develops, manufactures, markets, and supports video based print

inspection systems, color management and reporting software, and remote
Danaher Corp. Advanced Vision Technology 94
digital ink fountain control systems to commercial printers and press
manufacturers worldwide. Founded in 1992, based in Hod Hasharon, Israel.

Develops and operates a mobile social networking platform named

Daohe Global Group
Loovee Holdings Inc. 103 Duimian," one of the largest gamified mobile social networking platform in x
Limited
China. Founded in 2006, based in the Cayman Islands.

Provides solutions for the electronic commerce and payment processing

Deluxe Corp. RDM Corp. 99 industries in Canada, Japan, the UK, and the US. Founded in 1987, based in
Waterloo, Canada.

Develops and provides wet infrastructure business analytics software.

EQT Partners AB Innovyze, Inc. 270
Founded in 1996, based in Broomfield, CO.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 7
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Provides fiber-based bandwidth infrastructure and service in the Mid-
EQT Partners AB Lumos Networks Corp. 942
Atlantic region. Founded in 1994, based in Waynesboro, VA.

Provides information and data for the global forest products industry. The
Euromoney Institutional company oers information services, including indices, industry trends,
RISI, Inc. 125
Investor news, prices, analytics, and forecasts. Founded in 1985, based in Bedford,
MA.

Oers Visual Command Center, a risk awareness and response software to

protect various organizational functions, such as business continuity,
Everbridge, Inc. IDV Solutions, LLC 27 x
security, supply chain, field service, and operation aspects against threats.
Founded in 2004, based in Lansing, MI.

Operates a portal for electronic payments. Founded in 1999, based in

EVERTEC Group, LLC Tecnopago S.A. 37 x
Santiago, Chile.

Brocade Communications
Brocade Communications Systems, Inc., Data Center Switching, Routing, and
Systems, Inc., Data Center
Extreme Networks, Inc. 55 Analytics Business comprise data center switching, routing, and analytics
Switching, Routing, and
business. The assets are located in the United States.
Analytics Business

Avaya Inc., Fabric-Based Secure

Networking Solutions and Acquisition comprises end-to-end fabric-based secure networking solutions
Extreme Networks, Inc. 100
Network Security Solutions and network security solutions. The asset is located in the United States.
Business

Develops and operates cloud based platforms and solutions for multi-asset
FactSet Research Systems
BI-SAM Technologies S.A. 205 portfolio analysis, performance and attribution, market risk analysis, and x
Inc.
reporting. Founded in 2000, based in Paris, France.

Designs and develops a biometric identity and authentication solution based

Fingerprint Cards AB Delta ID Inc. 120 x
on iris recognition technology.. Founded in 2011, based in Newark, CA.

Oers Skyfence, a solution that gives organizations to gain visibility and

control over corporate use of Software-as-a Service applications in order to
Forcepoint LLC Skyfence Networks Ltd. 40
manage and protect sensitive data from external and inside threats.
Founded in 2012,based in Ramat Gan, Israel.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 8
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Fortuna Entertainment Provides domain expertise, sports book/risk management, sports betting
Hattrick Sports Group Ltd. 143 x
Group N.V. software, and IT servers. Founded in 2002, based in Dublin, Ireland.

Develops and sells semiconductors, other component devices, and network

storage equipment, and oers service integration business solutions in
Fujitsu Limited Solekia Limited 33
consulting, construction, operation, and maintenance. Founded in 1958,
based in Tokyo, Japan.

BumpClick, LLC, a media company, operates a network of websites and

Function(x) Inc. BumpClick, LLC 25 social assets to maximize distribution and revenue. Founded in 2014, based
in Ashburn, Virginia.

Androidmov Technology Co., Androidmov publishes online articles about Technology trends in China.
Geeya Technology Co., Ltd. 87
Ltd. Founded in 2003, based in Shanghai, China.

Develops delivering, supporting billing, and customer care software

Gentrack Group Limited Junifer Systems Limited 55 solutions for utility and telecom operators. Founded in 2009, based in
London, UK.

GOME Electrical Appliances Meixin Network Technology Designs, develops, and operates a mobile social data platform. Founded in
131 x
Holding Company Limited 2000, based in Beijing, China.

Develops a platform for online video production and management. Founded

Gree, Inc. 3Minute inc. 38 x
in 2014, based in Tokyo, Japan.

Designs and manufactures mobile phones and accessories in England. It

oers accessories, such as cases, wireless speakers, ear headphones, power
Hakan Uzan Vertu Corporation Limited 61
accessories, and writing instruments. Founded in 1998, based in Church
Crookham, UK.

Hewlett Packard Enterprise Provides hyperconverged infrastructure that accelerates the deployment of
SimpliVity Corp. 650 x
Company resources and workloads. Founded in 2008, based in Westborough, MA.

Designs and develops multidiscipline simulation software solutions for

Hexagon AB MSC Software Corp. 834 x
engineers. Founded in 1963, based in Newport Beach, CA.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 9
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Oers smart cards and smart card operating systems, such as contact and
Advanced Card Systems
HNA Ecotech (HK) Co. 73 contactless interface, and USB token. Founded in 1995, based in Kowloon
Holdings
Bay, Hong Kong.

Vetted Limited, publishes an online directory of customer recommended

Vetted Limited and Habitissimo, tradesperson. Habitissimo, S.L. provides an online portal that connects
HomeServe plc 46
S.L. homeowners with service professionals. Vetted Limited is headquartered in
Selsey, UK. Habitissimo, S.L. is based in Palma, Spain.

Provides content delivery networks (CDN) services in South Korea and

Hong Kong Wangsu
Science & Technology
Company Limited
internationally. The company oers Web performance suite that integrates a
Cdnetworks Co Ltd 190 x
range of Web performance tools to accelerate Web content delivery and
application performance. Founded in 2000, based in Seoul, South Korea.

Provides telecommunications and information technology service in the

Hrvatski Telekom d.d. Crnogorski Telekom a.d. 131
Republic of Montenegro. Founded in 1998, based in Podgorica, Montenegro.

Oers Bluetooth products for use in Bluetooth accessory applications,

Hsu-Si Investment Corp. Airoha Technology Corp. 137 including headsets, speakers, keyboards, mouse, remote controls, and 3D
glasses. Founded in 2001, based in Hsinchu, Taiwan.

Publishes online content in craft, classical music, gardening, pre-school, TV

Hubert Burda Media Immediate Media Company
318 listings, sports, teenage, and womens interest sectors. Founded in 2007, x
Holding London
based in London, UK.

Provides wireless data capacity, equipment, services, and solutions to the

telecommunications industry, service providers, channel partners, and the
Hutchison 3G UK Limited UK Broadband Limited 374
public sector in the United Kingdom. Founded in 2003, based in London,
UK.

Provides communication solutions that enable the transmission of data,

Hytera Project Corp. Norsat International Inc. 62 audio, and video for various applications in the United States, Canada,
Europe, and internationally. Founded in 1977, based in Richmond, Canada.

Operates a college course program search Website. Founded in 1990, based

IDP Education Ltd. Hotcourses Ltd 42
in London, UK.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 10
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Oers news publication services through its subsidiary. The companys
Ilcorp Ltd. Monitin Publishers 29 subsidiary, Globes, provides financial and daily news services. Founded in
1983, based in Israel.

Provides semiconductor ICs and software solutions for high-speed

Integrated Device
GigPeak, Inc.\ 243 connectivity and video compression over the network and the cloud.
Technology, Inc.
Founded in 2007, based in San Jose, CA.

Engages in the retail and online retail of apparel for women internationally. It
Jet.com, Inc. ModCloth, Inc. 75 provides dresses, tops, bottoms, swimwear, shoes, accessories, home and x
gifts, and wedding products. Founded in 2002, based in San Francisco, CA.

Operates an online travel portal that publishes flight deals in the UK and
Kayak Software Corp. Momondo Group Holdings 550 x
internationally. Founded in 1996, based in London, UK.

Engages in the development, production, sale, distribution, financing,

Kew Media Group Inc. Content Media Corp. 105 marketing, and exploitation of entertainment based intellectual property
rights worldwide. Founded in 1993, based in London, UK.

Provides payment solutions to online retailers in Germany, Austria,

Klarna AB Billpay GmbH 64 Switzerland, and the Netherlands. Founded in 2009, based in Berlin,
Germany.

Bank Audi transferred its electronic payment and card services business
M1 Limited Areeba s.a.l. 220 (Areeba), and with which it has entered into a service level agreement for
the provision of these services.

More Minutes Communications Comprises the More Minutes' business of providing mobile
MsMvil Ibercom, S.A. 45
Sl, Llamaya telecommunication services. The asset is located in Spain.

Designs, develops, and markets high performance analog mixed-signal

MaxLinear, Inc. Exar Corporation 739 integrated circuits and sub-system solutions. Founded in 1971, based in
Fremont, CA.

Provides electronic publishing services for Japanese books and magazines.

Digital Publishing Initiatives
Media Do Co., Ltd. 70 It also oers data storage services for publications and provides distribution
Japan Co., Ltd.
support for e-book stores. Founded in 2012, based in Tokyo, Japan.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 11
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Oers broadcasting services and operates thematic channels for the digital
Mediawan S.A. AB Groupe S.A. 289 pay-television market in France. Founded in 1977, based in Saint Denis,
France.

if(we) is a social media company that incubates social products to enable

MeetMe, Inc. Ifwe Inc. 60 meaningful connections between people. Founded in 2004, based in San x
Francisco, CA.

Cando Corporation, Cando Corporation, Semiconductor facilities and equipment comprises

Micron Technology, Inc. Semiconductor facilities and 89 dynamic random-access memory (DRAM) chip manufacturing and
equipment packaging business. The business is located in Taiwan.

Engages in conducting research on the U.S. apartment market and provides

MPF Research Inc. Axiometrics Inc. 75
a cloud-based analytics platform. Founded in 1994, based in Dallas, TX.

Oers organizations with payment solutions in PCI compliant formats,

MYOB Group Ltd. Paycorp Holdings Pty 37 consolidates collection methods, and manages receivables. Founded in 1996,
based in Sydney, Australia.

Operates and manages cinema theatres. Founded in 1992 and is

Nan Hai Corp. City Entertainment Corp. 424
headquartered in Wan Chai, Hong Kong.

Engages in ISP, Web service, and cloud businesses in Japan. Founded in

Nojima Corp. NIFTY Corp. 223
1986, based in Tokyo, Japan.

Nokia Solutions and Oers EventLink which detects anomalies in network and enhances network
Comptel Oyj 369
Networks Oy quality on the fly. Founded in 1986, based in Helsinki, Finland.

Owns and operates cinema theaters in the Nordic and Baltic countries. It
Odeon Cinemas Group Ltd Nordic Cinema Group AB 973 operates various cinema theaters and screens in major and mid-sized cities.
Founded in 2013, based in Stockholm, Sweden.

Oers VPower, a demand response and demand management software

Ormat Technologies, Inc. Viridity Energy, Inc. 35 technology and services solution that provides peak-shaving algorithms. x
Founded in 2008, based in Philadelphia, PA.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 12
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Develops solutions for identifying and preventing cyber-attacks and
Palo Alto Networks, Inc. LightCyber Ltd. 105 advanced persistent threats (APT). Founded in 2011, based in Ramat Gan, x
Israel.

Engages in processing bill payment transactions through an Internet

enabled platform. The company integrates its transaction processing system
PayPal Holdings, Inc. TIO Networks Corp. 244
to the accounting back-oce of its billers. Founded in 1992, based in
Vancouver, Canada.

Develops and provides a cognitive data science platform that automates

Progress Software Corp. DataRPM Corp. 30 machine learning on-cloud or on-premise for enterprises. Founded in 2011, x
based in Redwood City, CA.

Providence Equity Partners Modern Times Group Mtg AB, Modern Times Group Mtg AB, Baltic Broadcasting Businesses oers free-TV,
124
LLC Baltic Broadcasting Businesses pay-TV, digital, and radio broadcasting services.

The Rainmaker Group Ventures, The Rainmaker Group Ventures, LLC, Lease Rent Options Business
RealPage, Inc. LLC, Lease Rent Options 300 comprises a revenue management software solution that empowers
Business optimized pricing for apartments.

Rentian Technology Enterprise Development Provides integrated business software solutions primarily in the Peoples
76
Holdings Holdings Republic of China. Founded in 2006, based in Hong Kong.

Provides a technology that enables personalized recommendations on

Revcontent, LLC Rover 30 iPhone, Android, and web applications. Founded in 2007, based in x
Sunnyvale, CA.

Develops, markets, and sells software-as-a-service based talent

Saba Software, Inc. Halogen Software Inc. 212 management software solutions worldwide. Founded in 1996, based in
Ottawa, Canada.

Develops and provides property and casualty insurance software solutions

Sapiens International Corp. StoneRiver, Inc. 102 and services to insurance carriers, agents, and broker-dealers. Founded in x
1986, based in Denver, CO.

Operates as a telecom infrastructure provider to develop technology for

Shah Capital Management,
UTStarcom Holdings Corp. 57 bandwidth from cloud-based services, mobile, streaming, and other
Inc
applications. Founded in 1991, based in Admiralty, Hong Kong.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 13
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Shandong Mining Wenmai Interactive and Linyou Engages in the development of online games. Linyou Interactive engages in
146
Machinery Group Co. Interactive the distribution of mobile games. The companies are based in China.

Oers two products: OpticNet and SmartConnect in Singapore. SP

Singapore Technologies Telecoms SmartConnect service combines the power of Ethernet with
Sp Telecommunications Pte Ltd 38
Electronics Ltd. Dense Wavelength Division Multiplexing (DWDM) to optimize connectivity
Founded in 1982, based in Singapore.

Produces and supplies automotive technical information for the automotive

Solera Holdings Inc. Autodata Publishing Group 418 x
aftermarket worldwide. Founded in 1975, based in Maidenhead, UK.

Oers X by Invincea, a solution to prevent and detect threats to enable

Sophos Group plc Invincea, Inc. 120 workforce to conduct businessin the oce or on the road. Founded in x
2006, based in Fairfax, VA.

Provides mobile radio networks, high speed broadband, and Internet service
Spark New Zealand Trading
TeamTalk Ltd. 41 provider (ISP) services in New Zealand. Founded in 1994, based in
Ltd.
Wellington, New Zealand.

Develops mobile action, social, and strategy free-to-play games. Its most
Take-Two Interactive popular game oerings are Dragon City and Monster Legends, each of
Social Point S.L. 280 x
Software, Inc. which have been downloaded more that 180M times according App Annie.
Founded in 2008, based in Barcelona, Spain.

Engages in the printed media, and digital media and radio businesses in the
Talpa Holding N.V. Telegraaf Media Groep N.V. 300 Netherlands and internationally. Founded in 1893 , based in Amsterdam, the
Netherlands.

Provides technology and software solutions to the financial services

Temenos Group AG Rubik Financial Limited 59 organizations in Australia, the Middle East, and internationally. Founded in
2007, based in Sydney, Australia.

Monitors and analyzes business information for companies worldwide. Its

The Dun & Bradstreet Corp. Avention, Inc. 150 products and services include Avention for Sales that provides business lead
generation and qualification tools. Founded in 1986, based in Concord, MA.

Operates as a wholesale domain name registrar. The company enables

Tucows Inc. eNom Inc. 84 individuals and organizations to buy and sell Internet domains and related
services. Founded in 1997, based in Kirkland, WA.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 13
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Wireless Communication 2G, 3G, 4G Wireless Communication Module and GNSS Module Business
u-blox Holding AG Module and GNSS Module 53 Related Technology and Assets comprises wireless telecommunication
Business Related Technology services business assets.

Engages in music distribution, commercial systems, ICT, and other

U-Next Co., Ltd. USEN Corporation 692
businesses in Japan. Founded in 1961, based in Tokyo, Japan.

Develops mobile apps and games for the iOS and Android platforms. The
United Luck Group company's most successful game to date is the Talking Tom Cat app which
Outfit7 Investments Ltd. 1000
Holdings has been downloaded 40 million times. Founded in 2013, based in
Marylebone, UK.

Provides real-time flight status and schedules data, and market analysis. The
company provides data feeds, timetable solutions, flight times, a source of
Vitruvian Partners LLP OAG Aviation Group Limited 215
minimum connecting times data, a flight schedules tracking and notification
system, and reference data. Founded in 2002, based in Luton, UK.

Ofers mobile communication services in Senegal including General packet

Wari SA Sentel GSM S.A. 129
radio service (GPRS) services. Founded in 1999, based in Dakkar, Senegal.

Mobile Machine Control Solutions (MCS) division is a leading manufacturer

WIKA Alexander Wiegand Belden Inc., Mobile Machine
39 of control systems and load moment indicators and sensors for mobile
SE & Co. KG Control Solutions Business
equipment.

Provides online payment gateway services in South Africa, Kenya, Mauritius,

Wirecard AG MyGate Communications (Pty) 25
and Ghana. Founded in 2006, based in Century City, South Africa.

Designs and develops embedded signal processing and radio modules for
Wireless
CommAgility Ltd 31 4G and 5G mobile network and related applications in the United Kingdom
Telecommunications Group
and internationally. Founded in 2006, based in Loughborough, UK.

Oers deviantART, an online art community that allows emerging and

Wix.com Ltd. deviantART, Inc. 36 established artists to exhibit, promote, and share their works within a peer x
community. Founded in 2000, based in Hollywood, CA.

Wolong Real Estate Group Tianjin Kale Interactive Develops mobile and online games. The company was founded in 2009 and
770
Co., Ltd. Technology Co., Ltd. is based in Tianjin, China.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 13
CORE TRANSACTIONS (CONTINUED)
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Develops cloud based software solutions for performance management,
Wolters Kluwer Tax &
Tagetik Software srl 317 disclosure management, financial governance, and business intelligence (BI). x
Accounting US
Founded in 1984, based in Lucca, Italy.

Develops and operates a restaurant reservation application. It markets a

restaurant wait list system and seating tool that allows consumers to get in
Yelp Inc. Nowait, Inc. 40 x
line electronically with a smartphone application. Founded in 2010, based in
Pittsburgh, PA.

Oers residential property market insights and analytics through its online
Zoopla Property Group Plc Hometrack.co.uk Ltd 182
platform. Founded in 2000, based in London, UK.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 13
OTHER NOTABLE DEALS
Q1 - 2017 Premium Value M&A

TRANSACTION AP M&A
BUYER TARGET TARGET DESCRIPTION VC-BACKED
VALUE ($MM) ALERT
Develops and operates a unified data platform that provides analytics on paid and
Activision Blizzard, Inc. Omniata Inc. NA x
unpaid gaming users. Foundedin 2012, based in San Francisco, CA.

Develops a platform that enables mobile team to build applications, understand

Alphabet Inc. Fabric Inc. NA users, and grow business. Was formerly owned by Twitter. Founded in 2014, based
in San Francisco, CA.

Workflow provides a tool that lets users hook together apps and functions within
Apple Inc. Workflow NA apps in strings of commands to automate tasks. Founded in 2012, based in San x
Francisco, CA.

Provides an integrated suite of software application and IT infrastructure monitoring

and analytics products. It oers monitoring software application and IT
Cisco Systems AppDynamics, Inc. 4,033 x
infrastructure performance solutions in real time; solutions to deploy, configure, and
manage at scale. Founded in 2008, based in San Francisco, CA.

Dsigns, develops, and markets application packaging and lifecycle management

Citrix Systems, Inc. Unidesk Corp. NA x
solution for the digital workspace. Founded in 2007, based in Marlborough, MA.

Oers storage systems and software that enhance the performance of a range of
Hewlett Packard Enterprise business applications and workloads, including virtual servers and desktops,
Nimble Storage, Inc. 1,349
Co. databases, email, collaboration, and data analytics. Founded in 2007, based in San
Jose, CA.

Develops computer vision and machine learning-based sensing products, mapping

Intel Corp. Mobileye N.V. 15,403 and driving policy technology solutions for advanced driver assistance systems, and
autonomous driving technologies. Founded in 1999, based in Jerusalem, Israel.

Develops online marketing analytics platform that makes big data actionable for marketers
Nielsen Holdings plc Rhiza, Inc. NA and salespeople for research, ad sales, and marketing.Founded in 2008, based in Pittsburgh, x
PA.

Develops application programming interface (API) integration cloud. Its flagship

product API Flow, provides framework and tools for developing API that share
Oracle Corp. Apiary Inc. NA x
enterprise services and data and create cloud-based applications and experiences.
Founded in 2011, based in San Francisco, CA.

Develops a smart home monitoring platform which enables people to use their old
Samsung Electronics Co. Perch Technologies NA x
smartphones as security cameras. Founded in 2012, based in New York, NY.

Mobile | Internet | Digital Media M&A transactions with announced or estimated consideration between $25 million and $1 billion. 15
Web: architectpartners.com | Email: info@architectpartners.com