SEG SNAPSHOT SaaS M nearly another third (36.2% of companies) for 3.0x to 6.0x; and the remaining balance (35% of companies) were acquired for 3.0x or less. 7.4% 8.5% 19.1% 16.0% 9.6% 10.6% 28.7% 1.0x HDE, Inc.; i Mercury Capitalrakumo inc.$6.0$3.11.9x- 08/29/17Batterii, LLCBatterii, LLC- 08/28/17Inside Secure SA (ENXTPA:INSD)Meontrust Inc.$6.0- 08/28/17Freshworks Inc.Zarget- 08/28/17GoGo Tech Limited58 Suyun- 08/28/17Harland Clarke Holdings Corp.MaxPoint Interactive, Inc. (NasdaqGM:MXPT)$105.0$144.40.7x- 08/28/17ESW Capital, LLCDNN Corp.- 08/28/17ZiBlue SASEvertygo SAS- 08/25/17Futaba Corporation (TSE:6986)Kabuku Inc.$13.8$1.013.9x- 08/25/17Altium Limited (ASX:ALU)Upverter, Inc.$5.6- 08/23/17MassRoots, Inc. (OTCPK:MSRT)CannaRegs Ltd.$26.0- 08/23/17Vista Equity Partners LLCApplause App Quality, Inc.- Select SaaS Transactions (3Q17) Copyright 2017 by SEG Capital Advisors, LLC. All Rights Reserved 17 Source: Financial Data Provided by Capital IQ (Missing values represent data not publicly disclosed) DATE ANNOUNCED BUYERSELLER ENTERPRISE VALUE (mm) SELLER TTM REVENUE (mm) EV/ REVENUE EV/ EBITDA 08/22/17Carbonite, Inc. (NasdaqGM:CARB)Datacastle Corporation- 08/22/17Quorum Information Technologies Inc. (TSXV:QIS)Autovance Technologies Inc.- 08/22/17M-Files CorporationApprento Inc- 08/22/17Rave Mobile SafetyEmergency Response Management Services Corporation- 08/22/17Spreaker Inc.BlogTalkRadio, Inc.- 08/22/17ACCERATrade Force Servios em Tecnologia S.A.- 08/18/17Twitch Interactive, Inc.ClipMine, Inc.- 08/17/17Smarsh, Inc.Cognia Cloud Limited- 08/17/17digi.me LimitedPersonal, Inc.- 08/17/17Technology Crossover VenturesEtQ, Inc.- 08/17/17Viasoft Informatica Ltda.GL2 Sistemas Ltda- 08/17/17Citybase, Inc.Department of Better Technology, Inc- 08/16/17AtmanCo Inc. (TSXV:ATW)VuduMobile Inc.$0.5- 08/16/17Evolving Systems, Inc. (NasdaqCM:EVOL)Lumata Group Ltd$4.7- 08/16/17YueDiligence (Pty) Ltd.SME Snapshot (Pty) Ltd- 08/16/17Advantage Solutions Inc.The Data Council, Inc.- 08/15/17The Descartes Systems Group Inc (TSX:DSG)MacroPoint LLC$106.6$12.58.5x- 08/15/17FreakOut Holdings, inc. (TSE:6094)AdGeek Marketing Consulting Co., Ltd.$12.4$1.48.9x- 08/15/17Webroot Inc.Securecast- 08/15/17Omega Financial, Inc.Group Interactive Networks, LLC- 08/15/17Netsertive, Inc.Mixpo, Inc.- 08/15/17Meltwater News US Inc.Cosmify, Inc.- 08/14/17Wisetech Global Limited (ASX:WTC)CMS Transport Systems Pty Ltd$7.1$3.12.3x45.0x 08/14/17Target Corporation (NYSE:TGT)Grand Junction, Inc.- 08/14/17TPG Capital, L.P.Transplace Inc.- Select SaaS Transactions (3Q17) Copyright 2017 by SEG Capital Advisors, LLC. All Rights Reserved 18 Source: Financial Data Provided by Capital IQ (Missing values represent data not publicly disclosed) DATE ANNOUNCED BUYERSELLER ENTERPRISE VALUE (mm) SELLER TTM REVENUE (mm) EV/ REVENUE EV/ EBITDA 08/14/17Apax Partners LLPECi Software Solutions, Inc.- 08/14/17Turn/River CapitalNinian Solutions Limited- 08/11/17Wisetech Global Limited (ASX:WTC)Prolink Solutions Co., Ltd.- 08/11/17Workday, Inc. (NYSE:WDAY)Pattern Technologies, Inc.- 08/10/17Lyft, Inc.YesGraph, Inc.- 08/10/17WeWork Management LLCUnomy- 08/10/17Lend Academy InvestmentsAlgorithmic, Inc.- 08/10/17TicketWeb, L.L.C.Strobe- 08/09/17Wisetech Global Limited (ASX:WTC)Digerati Pty Ltd$4.7$0.68.6x12.0x 08/09/17Tableau Software, Inc. (NYSE:DATA)ClearGraph- 08/09/17E. I. du Pont de Nemours and Company (NYSE:DD)Granular, Inc.- 08/09/17Accruent, LLCLucernex, Inc.- 08/08/17Intermediate Capital Group plc (LSE:ICP)proALPHA Business Solutions GmbH- 08/08/17Xactly CorporationTTG Incorporated- 08/08/17Intertrust Technologies CorporationPlanet OS Inc.- 08/08/17PT Go-Jek IndonesiaPT Global Loket Sejahtera- 08/07/17Catapult Group International Limited (ASX:CAT)SMG Technologies Pty Ltd, SportsMed Elite and Baseline$3.1- 08/07/17Netcall plc (AIM:NET)MatsSoft Ltd.$28.8$7.24.0x220.8x 08/07/17Deloitte & Touche LLPBlab, Inc.- 08/04/17Barnes & Noble Education, Inc. (NYSE:BNED)Student Brands, LLC$58.5- 08/04/17Thoma Bravo, LLCFrontline Education, Inc.- 08/03/17PROS Holdings, Inc. (NYSE:PRO)Vayant Travel Technologies Inc.$35.0- 08/03/17Veritas Genetics International Ltd.Curoverse, Inc.- 08/03/17Bridge Growth Partners, LLCBackOffice Associates, LLC- 08/03/17Mozoo UK LimitedAdinCube$20.0- Select SaaS Transactions (3Q17) Copyright 2017 by SEG Capital Advisors, LLC. All Rights Reserved 19 Source: Financial Data Provided by Capital IQ (Missing values represent data not publicly disclosed) DATE ANNOUNCED BUYERSELLER ENTERPRISE VALUE (mm) SELLER TTM REVENUE (mm) EV/ REVENUE EV/ EBITDA 08/02/17Global Payments Inc. (NYSE:GPN)Active Network, LLC$1,206.6- 08/02/17Genpact Limited (NYSE:G)OnSource, LLC- 08/02/17Sierra Wireless, Inc. (TSX:SW)Numerex Corp. (NasdaqGS:NMRX)$121.5$65.31.9x- 08/02/17Elsevier B.V.The Berkeley Electronic Press- 08/02/