Analysis of recent transactions in IT Consulting Industry detailing on Transaction Multiples (Revenue & EBITDA), Multiples Chart, Active Buyers & Transaction Data. A goldmine of resource for Entrepreneurs.

1. IT CONSULTING
& Other Services!
Mergers & Acquisitions Analysis!
!
August 2016!
Alps Venture Partners!
TRANSACTION MULTIPLES | HISTORICAL TRENDS | GEOGRAPHIC HEAT MAP

2. 1page A L P S V E N T U RE P A R T N E R S
Merger & Acquisition Summary – IT Consulting & Other Services
Valuation Summary
Total Deal Value ($mm) 62,939
Average Deal Value ($mm) 113
Average TEV/Revenue 1.6x
Average TEV/EBITDA 13.1x
Average Day Prior Premium (%) 12%
Average Week Prior Premium (%) 15%
Average Month Prior Premium (%) 15%
*Source – CapitalIQ, AlpsVP Analysis
Date Range: Jain 1, 2010 – August 15, 2015
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Transaction Ranges
Greater than $1 billion 15
$500 - $999.9 mm 8
$100 - $499.9 mm 59
Less than $100 mm 473

3. HISTORICAL TREND ANALYSIS

4. 2page A L P S V E N T U RE P A R T N E R S
Transaction Multiples - Trends
*Source – CapitalIQ, AlpsVP Analysis;
1.6x 1.9x 1.3x 1.7x 1.6x 1.3x
13.0x
14.7x
16.4x
11.9x 11.8x
9.8x
0.0x
2.0x
4.0x
6.0x
8.0x
10.0x
12.0x
14.0x
16.0x
18.0x
2010 2011 2012 2013 2014 2015
Mul$ples
Average TEV/Revenue
Average TEV/EBITDA
Historical Multiples 2010 2011 2012 2013 2014 2015 5 Year
Average TEV/Revenue 1.6x 1.9x 1.3x 1.7x 1.6x 1.3x 1.6x
Average TEV/EBITDA 13.0x 14.7x 16.4x 11.9x 11.8x 9.8x 13.0x
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5. 3page A L P S V E N T U RE P A R T N E R S
Transaction Numbers - Trends
*Source – CapitalIQ, AlpsVP Analysis;
3 4 1 2 1 4
2 4
- - 1 1
14 11
5
12 14
3
98 97
81 78 81
38
-
20
40
60
80
100
120
2010 2011 2012 2013 2014 2015
Number of Transac$ons
> $1 billion
$500 - $999.9mm
$100 - $499.9mm
Less than $100mm
(in $ Million) 2010 2011 2012 2013 2014 2015 5 Year
Average Deal Value 162.6 110.7 67.6 66.6 66.9 273.1 94.9
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6. 4page A L P S V E N T U RE P A R T N E R S
Geographic Heat Map
*Source – CapitalIQ, AlpsVP Analysis; Number of transacGons in Major Regions;
Asia Pacific – 37% Americas – 25% Europe/MENA/Africa – 38%
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Region / Transactions Number Total Value Average Size
Asia Pacific 205 9,550 47
Europe/MENA/Africa 210 17,915 85
Americas 140 35,474 253

7. 5page A L P S V E N T U RE P A R T N E R S
Biggest Transactions
Target Deal Value ($mm)
Xerox Business Services, LLC 8,736
iGATE Corporation 4,601
Sapient Corp. 3,692
Logica PLC 3,441
Dimension Data Holdings plc 3,438
Telvent Git S.A. 2,008
GXS Group, Inc. 2,000
SRA Companies, Inc. 1,886
Vangent, Inc. 1,366
Groupe Steria SCA 1,195
*Source – CapitalIQ, AlpsVP Analysis
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8. Alps Venture Partners has established a team of experts that have experience in valuing businesses
across diverse industry sectors and all developmental stages; ranging from clients with seed funding to
pre-IPO stage. With the team having experience of both valuations and audits, our detailed and
insightful valuation appraisal reports, along with our responsive support, help our clients easily pass
through any stringent audit review process in a smooth, efficient and time-bound manner.
Tax Compliance Financial ReporVng Strategic ValuaVon

9. Financial Reporting and Tax Compliance Services
IRC 409a
We have experience of handling
more than 2000+ 409a valuations
across Industries. With the team
having experience of both valuations
and audits, our detailed and
insightful Section 409A appraisal
reports, along with our responsive
support, help our clients easily pass
through any stringent audit review
process in a smooth, efficient and
time-bound manner.
Fair Value Measurement
We help PE and VC clients to
comply with ASC 820 and IFRS 13
standard’s complex provisions and
avoid any audit issues in their
quarterly and annual reporting.
Relative TSR Programs
We value the awards with Relative
TSR metrics, using sophisticated
modeling techniques which allow
clients to quickly and accurately
value new grants.
Our business valuation experienced
team along with the team of veteran
Patent lawyers position us uniquely
to assist clients in completing annual
Goodwill and Investment
Impairment testing.
ASC 350 / IAS 38
ASC 718 (FAS 123R)/IFRS 2
Our experienced team at Alps
Venture Partners has performed
hundreds of stock options valuations
for ASC 718 for privately held
companies and publicly listed
companies across diverse industry
sectors and enterprise development
stages.
ASC 805 / IFRS 3
We have unmatched proficiency in
delivering Business Combinations
Accounting solutions to clients in
v a r i e d i n d u s t r i e s . O u r
comprehensive USPAP compliant
appraisal reports are auditable and
cost-effective, and help our clients
stay focused on the deal.
IRC 83 B Election
Alps Venture Partners has extensive
experience in assisting companies
seeking to comply with IRC 83 B
election. Failing to make a timely
83(b) election may lead to disastrous
tax consequences for a start-up
company founder or employee.
6page A L P S V E N T U RE P A R T N E R S
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10. Corporate Finance Services
We provide clients with high quality
research, analytical and advisory
support for transactions. We offer a
range of services such as initial
opportunity assessment, market
analysis, financial modeling,
commercial and financial due
diligence, valuation, capital structure
planning, and deal structuring.
v Investment Opportunity
Assessment
v Target Identification
v Preparation of Pitch Books
v Buyer & Seller Services
v Fairness Opinions
v Financial Modeling
v Business and Financial Due
Diligence etc.
Transaction advisory
7page A L P S V E N T U RE P A R T N E R S
Financial Modeling
Whether it is evaluating new
business ventures, proposed
transactions or financial and
operational strategies, a robust and
dynamic financial model is an
integral component to the decision-
making process.
Transaction Identification
We can help by global target
identification considering the
requirements with maximum
synergy.
The financial due diligence process
is a necessity to any transaction. Our
aim is to enable owners and
managers to make such investments
with confidence by supporting and
advising at every stage. We will help
reduce the risk – and stress – of
investing at home or in another
country.
Due Diligence
Custom Research
We provide clients with customized
research report, model, decks with
client specific requirements such as:
v Business plan development,
v Diagnostic review of operations
v Competitor benchmark analysis
v Intellectual Property
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