Information and communication technology

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ICT

InformatIon and

communIcatIon

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content

ICT MARKET OVERVIEW

6 IT-SERVICES & -CONSULTING

10 ENTERPRISE SOFTWARE

16 INFRASTRUCTURE & EQUIPMENT

24 MUMMERT & COMPANY

30

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edItorIal

The first sector, IT-Services & -Consulting, has experienced strong consolidation in all three subsectors. IT System Houses are under fierce price pressure, but can benefit from economies of scale in purchasing and logistics. In IT-Services, we see declining prices in commodity services such as desktop services, but higher margins in specialty competencies such as legacy data migration. IT- Consulting remains the most profitable subsegment, in particular for those companies that can leverage a lower cost consulting force based on well documented project workflows.

For the second sector, Enterprise Software, we will distinguish between Application Software and Infrastructure Software companies. Both subsectors continue to be highly attractive, offering scale and relatively low capital expenditures. Enterprise Software has therefore become an increasingly interesting investment target for financial investors.

In order to achieve our goal of maximizing value for our clients on M&A transactions, we need to assess and negotiate strategic and commercial value. Technology companies are unique in this respect and we have therefore developed proprietary Mummert & Company indices for our Information & Communications Technology (ICT) clients in the following sectors:

It-ServIceS & -conSultIng

enterprISe Software

InfraStructure Software applIcatIon Software

InfraStructure & equIpment

Ict

Both license fee and SaaS based business models allow for strong growth rates with little downside risk once the installed base has reached critical size. In some of our software transactions, banks have financed close to six times EBITDA for leveraged buy-outs based on the targets’ strong cash flows. The third sector, Infrastructure & Equipment, also shows strong valuations. Many datacenter and web-hosting companies are highly profitable with EBITDA margins in excess of 40% for more than a decade. And those margins are often still increasing.

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This snapshot is based on our global analysis of 157 stock listed companies that we cover on an ongoing basis and over 1,500 comparable transactions. The geographical split of the 157 stock listed companies covered is as follows:

In recent years, Mummert & Company has completed many transactions in all three sectors. Our goal is to be the market leading M&A advisor in the German speaking region to clients in these sectors.

We wish you continued success and hope that this snapshot serves as a basis for an ongoing dialogue. Best regards,

Harald Maehrle Philip Stein Asia Pacific 7% Americas 68% EMEA 25% 157 Stock Listed Companies ExcEllEncE in ExEcution

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Key trendS

▪ 40% of German companies use cloud computing

▪ Virtualization will provide cost optimization and efficiency

enhancement in the IT-infrastructure

▪ Mobile devices and the development of high speed internet access

will spur further cloud innovations

▪ Distributed data storage, next generation data centers and data

virtualization will enable dynamic data handling

▪ Linguistic and semantic data analysis tools will increase efficiency

and allow for better business intelligence

▪ In the aftermath of the NSA scandal, IT security is the

high-priority topic

▪ Solutions include anti-virus software and firewall protection, and

more advanced applications such as cyber attack detection systems and anti-theft software

▪ Among CIOs, implementing and monitoring security guidelines

(e.g. BYOD) plays a key role

▪ Mobile devices will become more capable of running business

applications

▪ Business processes will be more efficient, as employees can access

company resources from anywhere

▪ Mobile computing will enhance communication through advanced

file sharing and video conferencing

▪ Industry 4.0 is the next wave of digitalization in production and

manufacturing, allowing for cross-company integration and cross-site networking

▪ Industry 4.0 enables the development, production and care of

solutions via the internet leading to more flexible and efficient processes

1. CLOUD COMPUTING

2. BIG DATA

3. IT-SECURITY

4. MOBILE COMPUTING

5. INDUSTRY 4.0

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mummert & company technology IndIceS

SuB-Sector-analySIS: revenue growth ’13-’14e vS. eBItda multIple ’14e

X-aXIS: ev/ eBItda ’14e; y-aXIS: revenue growth ’13-’14e

2.0% 4.0% 0.0% 6.0% 8.0% 10.0% 12.0% 14.0% 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x IT-Services System Houses BPM NPM IT-Consulting Datacenter Hosting BI/ CRM/ SCM System Management ERP ECM / HCM / Payroll

Network & Hardware

StocK prIce development of mummert & company IndIceS BenchmarKed to S&p 500 and daX 30

(50%) (30%) (10%) 10% 30% 50% 70% 90% 110% 130% 150%

Dec-2005 Dec-2006 Dec-2007 Dec-2008 Dec-2009 Dec-2010 Dec-2011 Dec-2012 Dec-2013 IT-Services & -Consulting

S&P 500 DAX 30

Infrastructure Software Application Software Infrastructure & Equipment

Note: (1) Comparison of price indices, not performance indices

IN THE LAST TEN YEARS, THE MUMMERT & COMPANY TECHNOLOGY

INDICES HAVE SIGNIFICANTLY OUTPERFORMED BOTH THE S&P 500 AND

THE DAX 30. THE BOTTOM CHART DEMONSTRATES THAT MUCH OF THIS

VALUATION PREMIUM IS BASED ON ABOVE AVERAGE SECTOR GROWTH.

Source: Capital IQ, Mummert & Company

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gloBal valuatIon overvIew

0.4x 0.6x

1.0x

System Houses IT-Services IT-Consulting 5.0x 4.0x 3.0x 2.0x 1.0x 2.9x 2.5x 3.0x

ERP BI / CRM / SCM ECM / HCM / Payroll 5.0x 4.0x 3.0x 2.0x 1.0x 3.0x 4.6x 1.8x

Hosting Datacenters Network & Hardware 5.0x 4.0x 3.0x 2.0x 1.0x 6.7x 7.3x 8.3x 25.0x 20.0x 15.0x 10.0x 5.0x

System Houses IT-Services IT-Consulting

11.1x 11.8x

12.8x

ERP BI / CRM / SCM ECM / HCM / Payroll 25.0x 20.0x 15.0x 10.0x 5.0x 8.5x 14.7x 11.5x

Business Processes Network Performance Systems Management 25.0x 20.0x 15.0x 10.0x 5.0x 2.5x 2.4x 3.5x

Business Processes Network Performance Systems Management 5.0x 4.0x 3.0x 2.0x 1.0x 10.7x 9.6x 9.9x

Hosting Datacenters Network & Hardware 25.0x 20.0x

15.0x 10.0x

5.0x

EV/ SALES ’14E

EV/ EBITDA ’14E

It -S er v Ice S and -con S ul t Ing appl Ic a t Ion S oftw are enterpr IS e S oftw are Infr a S tr ucture S oftw are Infr a S tr ucture & eq u Ipment

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content

ICT MARKET OVERVIEW

6 IT-SERVICES & -CONSULTING

10 ENTERPRISE SOFTWARE

16 INFRASTRUCTURE & EQUIPMENT

24 MUMMERT & COMPANY

30

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StocK lISted companIeS

It-ServIceS & -conSultIng

It -S er v Ice S S y S tem hou S e S It -con S ul t Ing

Note: (i) Share prices as of 10.04.2014; (ii) Financials as of December; (iii) Median of financial estimates used Source: Capital IQ, Mummert & Company

ev/ SaleS Asia Pacific 0.6x 0.6x Americas 0.2x 0.2x EMEA 0.5x 0.5x 2013 2014E 4.0x 3.0x 2.0x 1.0x ev/ SaleS Asia Pacific 3.4x 2.6x Americas 0.6x 0.6x EMEA 0.6x 0.6x 2013 2014E 4.0x 3.0x 2.0x 1.0x ev/ SaleS Asia Pacific 3.1x 2.0x Americas 2.5x 2.4x EMEA 0.7x 0.6x 2013 2014E 4.0x 3.0x 2.0x 1.0x ev/ eBItda Asia Pacific 10.7x 6.5x Americas 7.5x 6.7x EMEA 10.6x 7.8x 2013 2014E 20.0x 15.0x 10.0x 5.0x ev/ eBItda Asia Pacific 13.8x 10.5x Americas 8.5x 7.4x EMEA 7.6x 6.5x 2013 2014E 20.0x 15.0x 10.0x 5.0x ev/ eBItda Asia Pacific 12.0x 11.0x Americas 10.1x 9.1x EMEA 8.0x 6.8x 2013 2014E 20.0x 15.0x 10.0x 5.0x

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Note: (i) Share prices as of 10.04.2014; (ii) Financials as of December; (iii) Median of fi nancial estimates used Source: Capital IQ, Mummert & Company

StocK lISted companIeS

It-ServIceS & -conSultIng

SyStem houSeS

(10.0)% (5.0)% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 4.0x 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x

Note: (1) Cancom SE: Acquisition of HPM Inc. (Rev ’13: €44m) and DIDAS Business Services GmbH (Rev ’13: €56m) in February and April 2014, respectively

It-conSultIng

(10.0)% (5.0)% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 4.0x 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x

Note: (1) GFT: Acquisition of 80% stake in Sempla Srl (Rev ’12: €44m); (2) NTT Data: Acquisition of Everis Group (Rev ’13: €591m) in 2013

It-ServIceS

(10.0)% (5.0)% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 4.0x 6.0x 8.0x 12.0x 14.0x 16.0x

Note: (1) CTG: Sale of several international activities in 2013;

(2) CSC: Divestiture of more than €1bn in revenue in 2013; (3) SAIC: Split into two new companies in 2013: SAIC and Leidos

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gloBal comparaBle tranSactIonS

It-ServIceS & -conSultIng

numBer of tranSactIonS 2009 2010 2011 2012 2013/14 173 212 242 ₂₁₈ 274 SaleS-multIpleS 2009 2010 2011 2012 2013/14 1.0x 56 56 65 59 54 1.0x _0.9x 1.0x 1.0x

Sub-sample of multiples available for calculation

eBItda-multIpleS 2009 2010 2011 2012 2013/14 8.3x 36 39 43 37 35 11.2x _10.2x 9.4x 7.3x

While sales multiples of c. 1.0x paid for IT-Services and -Consulting companies have been fairly stable over time, EBITDA multiples have decreased in 2013/14 transactions. However, EBITDA margins have increased in the same period. Buyers seem to challenge the sustainability of such higher margins.

Source: Mergermarket, Mummert & Company

ACROSS ALL SUB-SECTORS

▪ System Houses

▪ IT-Services

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caSe Study – conSInto

It-ServIceS & -conSultIng

We advised Aurelius on the sale of Consinto. Aurelius is a publicly listed investment holding. It specializes in acquiring companies with development potential and in providing them with operational support. Aurelius acquired Consinto from Thales Group in 2009.

At the time of its sale to Datagroup, Consinto was a very profitable provider of IT consulting, IT services and outsourcing solutions. With over 310 employees the company has established a loyal and high profile customer base.

Datagroup is one of the leading German IT-Services companies. It offers IT consulting, integration services and operations in its own data centers. Datagroup is listed on the German Entry Standard Exchange. In 2013, Datagroup reported annual sales of EUR 156.9m (+7.4%) and EBITDA of EUR 12.6m.

Datagroup identified many cross selling opportunities. After the acquisition of Cosinto, Datagroup could offer its customers full service solutions for their existing and new SAP installations. The acquisition also supported Datagroup’s strategy to increasingly offer higher value add solutions such as SAP related services.

Both Aurelius and Datagroup have benefited from this transaction. Aurelius has generated high returns on its initial investment in Consinto. Datagroup has significantly improved its positioning and breadth of services. The stock price development of both firms supports the transaction.

THE DEAL

OUR

CLIENT

THE

TARGET

THE

ACQUIRER

DEAL

RATIONALE

OUTCOME

sold to

Sell Side ▪ REVENUES: € 48M

▪ EBITDA: ~10%

▪ EMPLOYEES: 310

▪ CUSTOMERS: >120

aurelIuS ag, Share prIcIng (€)

15.0 10.0 25.0 20.0 30.0 Jan-2012 Apr-2014 5.0

datagroup ag, Share prIcIng (€)

8.0 6.0 10.0

Jan-2012 Apr-2014

4.0

Source: Capital IQ Source: Capital IQ

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content

ICT MARKET OVERVIEW

6 IT-SERVICES & -CONSULTING

10 ENTERPRISE SOFTWARE

16

▪ APPLICATION SOFTWARE

▪ INFRASTRUCTURE SOFTWARE

INFRASTRUCTURE & EQUIPMENT

24 MUMMERT & COMPANY

30

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BI/ crm / S cm erp ecm / hcm / pa yr oll ev/ SaleS Americas 2.6x 2.9x EMEA 3.3x 3.3x 2013 2014E 4.0x 5.0x 3.0x 2.0x 1.0x ev/ SaleS Americas 3.1x 2.8x EMEA 1.9x 1.9x 2013 2014E 4.0x 5.0x 3.0x 2.0x 1.0x ev/ SaleS Americas 3.9x 3.5x EMEA 2.5x 2.3x 2013 2014E 4.0x 5.0x 3.0x 2.0x 1.0x ev/ eBItda Americas 12.9x 11.1x EMEA 9.0x 8.2x 2013 2014E 30.0x 20.0x 10.0x ev/ eBItda Americas 19.5x 12.1x EMEA 15.1x 11.4x 2013 2014E 30.0x 20.0x 10.0x ev/ eBItda Americas 16.3x 19.3x EMEA 16.4x 12.8x 2013 2014E 30.0x 20.0x 10.0x

Note: (i) Share prices as of 10.04.2014; (ii) Financials as of December; (iii) Median of financial estimates used Source: Capital IQ, Mummert & Company

StocK lISted companIeS

applIcatIon Software

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erp

(10.0)% (5.0)% 5.0% 10.0% 15.0% 20.0% 35.0% 25.0% 30.0% 20.0x 30.0x 40.0x 50.0x 60.0x 5.0x 15.0x 25.0x 35.0x 45.0x 55.0x 0.0%

Note: (1) Sage: Divestiture of most of its North American Operations in 2013

BI/ crm/ Scm

(10.0)% (5.0)% 5.0% 10.0% 15.0% 20.0% 35.0% 25.0% 30.0% 10.0x 20.0x 30.0x 40.0x 50.0x 60.0x 5.0x 25.0x 35.0x 45.0x 55.0x 0.0%

Note: (1) SHS Viveon: Expectation of strong revenue growth in 2014; (2) Vocus: To be acquired for US$ 18 per share by CTCR

ecm/ hcm/ payroll

(10.0)% (5.0)% 5.0% 10.0% 15.0% 20.0% 35.0% 25.0% 30.0% 10.0x 20.0x 30.0x 40.0x 50.0x 60.0x 5.0x 15.0x 25.0x 35.0x 45.0x 55.0x 0.0%

Note: (1) Open Text: Acquisition of GXS (Rev ’12: €369m) for €861m in November 2013;

(2) Verint: Acquisition of KANA Software (Rev ’14E: €110m) for €377m in January 2014; (3) Click Software: Acquisition of SaaS company Xova in March 2014 Note: (i) Share prices as of 10.04.2014; (ii) Financials as of December; (iii) Median of fi nancial estimates used Source: Capital IQ, Mummert & Company

StocK lISted companIeS

applIcatIon Software

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StocK lISted companIeS

InfraStructure Software

netw or K performance B u SI ne SS pr oce SS e S S y S tem S mana gement ev/ SaleS Americas 2.7x 2.5x EMEA 2.3x 2.3x 2013 2014E 4.0x 5.0x 3.0x 2.0x 1.0x ev/ SaleS Americas 2.6x 2.1x EMEA 3.0x 2.6x 2013 2014E 4.0x 5.0x 3.0x 2.0x 1.0x ev/ SaleS Americas 3.2x 2.8x EMEA 5.0x 4.8x 2013 2014E 4.0x 5.0x 3.0x 2.0x 1.0x ev/ eBItda Americas 11.9x 9.3x EMEA 9.0x 8.2x 2013 2014E 30.0x 20.0x 10.0x ev/ eBItda Americas 13.4x 12.3x EMEA 20.5x 14.7x 2013 2014E 30.0x 20.0x 10.0x ev/ eBItda Americas 16.5x 12.4x EMEA 12.2x 10.7x 2013 2014E 30.0x 20.0x 10.0x

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StocK lISted companIeS

InfraStructure Software

BuSIneSS proceSSeS

(25.0)% (20.0)% (15.0)% (5.0)% 0.0% 5.0% 10.0% 25.0% 15.0% 20.0% 10.0x 15.0x 20.0x 25.0x 30.0x (10.0)% networK performance

(25.0)% (20.0)% (15.0)% (5.0)% 0.0% 5.0% 10.0% 25.0% 15.0% 20.0% (10.0)% 10.0x 15.0x 20.0x 25.0x 30.0x SyStemS management

(25.0)% (20.0)% (15.0)% (5.0)% 0.0% 5.0% 10.0% 25.0% 15.0% 20.0% (10.0)% 10.0x 15.0x 20.0x 25.0x 30.0x

Note: (1) Compuware: Sale of Changepoint, Professional Services and Uniface business in 2014

Note: (i) Share prices as of 10.04.2014; (ii) Financials as of December; (iii) Median of fi nancial estimates used Source: Capital IQ, Mummert & Company

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gloBal comparaBle tranSactIonS

enterprISe Software

numBer of tranSactIonS 2009 2010 2011 2012 2013/14 529 766 837 801 961 SaleS-multIpleS 2009 2010 2011 2012 2013/14 1.2x 125 148 167 129 136 1.8x 1.9x 1.5x 1.9x

eBItda-multIpleS 2009 2010 2011 2012 2013/14 9.9x 79 96 115 89 74 11.3x 13.0x 11.0x 9.3x

Enterprise Software is the segment with the highest M&A activity. Each year, we count almost 1,000 transactions globally. Companies in this segment are highly profitable. This leads to sales multiples of close to 2.0x. Based on strong sales growth and sticky customer bases, EBITDA multiples are typically above 10x.

Source: Mergermarket, Mummert & Company

APPLICATION SOFTWARE

▪ ERP ▪ BI/ CRM/ SCM ▪ ECM/ HCM/ Payroll

INFRASTRUCTURE SOFTWARE

▪ Business Processes ▪ Network Performance ▪ Systems Management

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caSe Study – proalpha

enterprISe Software

We advised the shareholders of proALPHA on the sale of the company. After successfully building the business for the last 22 years, the founders of proALPHA have decided to sell the company. Two of the three founders wanted to retire from daily operations as part of the transaction. Financial investor Beaufort Capital, who was also a significant shareholder, decided to exit alongside the founders.

proALPHA is the largest privatly held ERP software company in Germany. In 2012, the company generated annual sales of c. EUR 55m with an EBITDA margin in excess of 20%.

Bregal Capital is an investment firm of the Brenninkmeijer family with fund commitments of more than €3bn that has invested in more than 20 companies since its inception.

Bregal Capital is currently investing from its third fund with a volume of €1bn, targeting investments in buy out and development capital for medium-sized companies, such as proALPHA.

proALPHA is a market leader in ERP solutions for discrete manufacturing companies. The firm offers a very robust customer base and strong sales growth. Its innovative ERP solutions are tailored to the requirements of medium-sized companies. Bregal Capital wants to support management in further developing the position of proALPHA as preferred provider of ERP solutions for medium-sized companies.

In the meantime, Leo and Werner Ernst, two of the three founders, have retired from daily operations. Bregal has recruited Dr. Friedrich Neumeyer as new CEO. Martin Wolf, the third founder, has reinvested in the business alongside Bregal Capital and has assumed the role of CTO.

OUR

CLIENT

THE

TARGET

THE

ACQUIRER

DEAL

RATIONALE

OUTCOME

▪ REVENUES: € 55M ▪ EBITDA: € 12M ▪ EMPLOYEES: 530 ▪ CUSTOMERS: 1,600 was sold to Sell Side

THE DEAL

eXcellence In eXecutIon

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content

ICT MARKET OVERVIEW

6 IT-SERVICES & -CONSULTING

10 ENTERPRISE SOFTWARE

16 INFRASTRUCTURE & EQUIPMENT

24 MUMMERT & COMPANY

30

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StocK lISted companIeS

InfraStructure & equIpment

d a ta center S ho S t Ing netw or K & hard w are ev/ SaleS Americas 4.4x 3.7x EMEA 2.4x 2.2x 2013 2014E 6.0x 8.0x 4.0x 2.0x ev/ SaleS Americas 7.6x 4.7x EMEA 3.0x 2.7x 2013 2014E 6.0x 8.0x 4.0x 2.0x ev/ SaleS Americas 1.8x 1.8x EMEA 2.5x 2.5x 2013 2014E 6.0x 8.0x 4.0x 2.0x ev/ eBItda Americas 13.8x 10.9x EMEA 12.5x 10.5x 2013 2014E 20.0x 15.0x 5.0x 10.0x ev/ eBItda Americas 12.5x 10.0x EMEA 7.8x 7.2x 2013 2014E 20.0x 15.0x 5.0x 10.0x ev/ eBItda Americas 12.3x 8.9x EMEA 12.4x 13.1x 2013 2014E 20.0x 15.0x 5.0x 10.0x

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StocK lISted companIeS

InfraStructure & equIpment

hoStIng

(10.0)% 10.0% 20.0% 40.0% 30.0% 22.0x 8.0x 10.0x 12.0x 14.0x 16.0x 18.0x 20.0x 0.0% datacenterS

(10.0)% 10.0% 20.0% 40.0% 30.0% 0.0% 22.0x 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x 18.0x 20.0x

networK & hardware

(10.0)% 10.0% 20.0% 40.0% 30.0% 0.0% 22.0x 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x 18.0x 20.0x

Note: (1) Arris: Acquisition of Motorola Home from Google in 2013 for €1.8bn (Rev: €2.5bn)

Source: Capital IQ, Mummert & Company

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gloBal comparaBle tranSactIonS

InfraStructure & equIpment

numBer of tranSactIonS 2009 2010 2011 2012 2013/14 74 133 140 ₁₂₂ 172 SaleS-multIpleS 2009 2010 2011 2012 2013/14 1.1x 21 37 35 23 35 1.9x 0.9x 1.5x 1.2x

eBItda-multIpleS 2009 2010 2011 2012 2013/14 9.1x 15 24 25 14 23 12.4x 9.4x 11.8x _8.7x

Infrastructure & Equipment offers a rather small transaction sample compared to IT-Services & -Consulting and Enterprise Software. In addition, transaction data is only disclosed for c. 15% of all counted

transactions. Both sales and EBITDA multiples are attractive, but slightly below valuations of publicly listed companies.

ACROSS ALL SUB-SECTORS

▪ Hosting

▪ Datacenters

▪ Network & Hardware

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caSe Study – domaInfactory

InfraStructure & equIpment

We advised the two founders of Domainfactory on the sale of the company. As part of the transaction they both wanted to retire from daily operations.

Domainfactory was the fourth largest provider of .de domains in Germany (after 1&1, Deutsche Telekom and Host Europe) and the leading independent hosting company. Domainfactory has focused on selling its solutions to micro-SMEs, i.e. companies with less than 20 employees.

Founded in 1997 and headquartered in the UK, Host Europe provides hosting and domain services to small and medium-sized enterprises. At the time of the transaction, Host Europe had c. 600 employees. In July 2013, Cinven acquired Host Europe from Montagu Private Equity.

The acquisition of Domainfactory was consistent with Host Europe’s strategy of consolidating a highly fragmented hosting market in Europe. Domainfactory’s strong reputation for high quality solutions and best-in-class customer service made it a perfect fit with Host Europe.

This acquisition has significantly enhanced Host Europe’s presence and capabilities in the German mass hosting market – now with almost 400,000 customers and managing in excess of 2 million domains. The transition of daily operations from the Domainfactory founders to former second level management and the integration into Host Europe have been successfully accomplished.

OUR

CLIENT

THE

TARGET

THE

ACQUIRER

DEAL

RATIONALE

OUTCOME

▪ REVENUES: € 24M ▪ EBITDA: € 12M ▪ EMPLOYEES: 70 ▪ CUSTOMERS: >170,000 Sell Side was sold to a portfolio company of

THE DEAL

eXcellence In eXecutIon

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content

ICT MARKET OVERVIEW

6 IT-SERVICES & -CONSULTING

10 ENTERPRISE SOFTWARE

16 INFRASTRUCTURE & EQUIPMENT

24 MUMMERT & COMPANY

30

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mummert & company InduStry coverage

HARALD MAEHRLE maehrle@… …mummertcompany.com MONIKA NICKL nickl@… …mummertcompany.com SEBASTIAN WINTGENS wintgens@… …mummertcompany.com Responsible Partners UTE LASSNIG lassnig@… …mummertcompany.com DIRK LIEDTKE liedtke@… …mummertcompany.com JAN COTTA cotta@… …mummertcompany.com MELVILLE D. MUMMERT mummert@… …mummertcompany.com PHILIP STEIN stein@… …mummertcompany.com JAPHET WUENSCH wuensch@… …mummertcompany.com SEBASTIAN KNACKFUSS knackfuss@... ...mummertcompany.com MARTIN RIDLER ridler@… PASCAL SCHMIDT schmidt@… Segments Exemplary Reference Customers TMT Partners TMT Team

TMT HEALTH CARE INDUSTRIAL

TECHNOLOGIES BUSINESS SERVICES ENERGY ▪ICT ▪Media ▪ Tele-communication #1 ICT leading M&A advisor

>40 ICT TRANSACTIONS successfully closed

>70% INTERNATIONAL transactions

> 90% of ICT companies sold to

strategic buyers ▪ Biotech/ Biopharma ▪Medical Devices ▪Health Services ▪Healthcare IT ▪Automotive ▪ Machinery and Engineering ▪Plastics ▪Chemicals ▪Electronics ▪ Temporary Employment ▪Logistics ▪Engineering ▪Hotels/ Tourism ▪ Municipal Utilities ▪ Renewable Energy

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Sample Ict tranSactIonS

acquired German, Dutch, Indian and Polish IT services

operations from

Buy Side Sell Side

sold its IT-Services business unit to sold to Sell Side was sold to Sell Side

sold its healthcare software and IT services business to

Sell Side was sold to Sell Side was sold to Sell Side was sold to Sell Side Sell Side was sold to a portfolio company of Sell Side

sold a minority stake to

and

acquired the German hosting business from

Buy Side

was sold to

Sell Side

IT-SERVICES & -CONSULTING

ENTERPRISE SOFTWARE

INFRASTRUCTURE & EQUIPMENT

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