Select Transaction Comparables (Cont’d) Strategic Buyers Date Acquiror Target Target Adjusted Revenue Multiple EBITDA Multiple Country EV (€m) LTM Forward LTM Forward Adtech Mrz 17 Altice Teads.tv France 300.0 1.6x Feb 17 Accenture SinnerSchrader (62%) Germany 100.0 2.0x 21.3x Sep 16 Glispa Global Group Avocarrot UK Jun 16 Spearhead Smaato Germany 132.2 Mai 16 FreeWheel Media StickyADStv France 87.7 Mrz 16 RTL Smartclip Germany 50.0 Sep 15 NewsCorp Unruly UK 156.5 3.5x Sep 15 Gravity4 EuroAds Denmark Sep 15 ironSource Supersonic Israel 132.9 1.9x Aug 15 Ströer InteractiveMedia Germany 300.0 Jul 15 FanDuel Kotikan UK Mrz 15 Cheetah Mobile MobPartner France 54.9 Okt 14 Publicis Matomy (24.9%) Israel 383.0 1.9x 1.4x 26.9x 12.9x Okt 14 RNTS Media Fyber Germany 150.0 Jul 14 RTL SpotXchange (65%) Germany 165.5 6.0x 44.3x Jun 14 Opera AdColony US 257.3 3.4x 17.5x Jun 14 Amobee Kontera Israel 110.7 Apr 14 Tesco Sociomantic Germany 150.0 9.0x Nov 11 Adconion Media Smartclip Germany 125.0 Others Feb 18 LexisNexis ThreatMetrix United Kingdom 674.0 25.1x Feb 18 Kunlu Tech Opera Software Norway 51.8 Jan 18 Thy Crypto Company CoinTracking Germany 462.2 Jan 18 Urban Sports FITrate Germany 0.0 Dez 17 Ascential Clavis Technology Ireland 157.2 Dez 17 Scheidt & Bachmann ecopark Germany 0.0 Dez 17 Apple Shazam United Kingdom 452.0 Dez 17 Thales Group Gemalto Netherlands 5,430.0 1.7x 10.5x Nov 17 ByteDance News Republic France 73.6 Jul 17 iRobot Robopolis France 119.1 0.9x Jul 17 Ingenico Bambora Sweden 1,500.0 Jul 17 Gamigo Mediakraft Networks Germany Jul 17 Bottega InvestCo Getronics UK 220.0 Jul 17 Symantec Fireglass Israel 211.2 Jul 17 CM Docdata Netherlands Jun 17 Microsoft Cloudyn Israel 52.5 10.0x Jun 17 Blackbaud JustGiving UK 108.4 Jun 17 Fiserv Monitise UK 79.8 1.4x Jun 17 Microsoft Hexadite Israel 87.5 Jun 17 Porsche PTV Group Germany 300.0 Jun 17 Vivendi Havas France 3,675.8 Mai 17 Moody's Bureau van Dijk Netherlands 3,000.0 11.6x 22.7x Mai 17 United Internet Drillisch Germany 2,800.0 Mai 17 Spotify Niland.io France Apr 17 BNP Paribas Compte Nickel France Apr 17 Auto-News.de Motor1 Germany Apr 17 Trade Extensions Coupa Software Sweden 42.2 4.5x Mrz 17 Ekinops OneAccess France 60.0 1.0x Mrz 17 Alibaba WayRay Switzerland Mrz 17 Intel Mobileye Israel 14,359.5 42.7x 30.6x 80.1x 55.6x Mrz 17 The Travellers Companies Simply Business UK 459.9 10.0x Feb 17 Zalando Kickz Germany Feb 17 Palo Alto Networks LighCyber Israel 98.5 Feb 17 Nokia Comptel Finland 347.3 Feb 17 Klarna BillPay Germany 69.0 Jan 17 Zoopla Hometrack UK 139.8 7.7x 16.9x Jan 17 Kik Rounds Israel 64.8 Dez 16 Thundersoft Rightware Finland Dez 16 Megafon (63.8%) Mail.ru Russia 1,075.8 1.8x Dez 16 Huawei Toga Networks Israel 139.9 Dez 16 Go Daddy Host Europe Group Germany 1,690.0 6.3x 15.2x Dez 16 CA Technologies Automic Austria 600.0 8.9x Okt 16 Boomreach Hippo NV Netherlands Okt 16 The Economist Signal Noise United Kingdom Okt 16 Liberty Global Multimedia Polska Poland 696.6 Aug 16 SpeedCast WINS Malta 60.0 Aug 16 Cheetah Mobile News Republic France 53.2 Aug 16 Verizon Fleetmatics Ireland 2,238.2 8.4x 24.9x Jul 16 BPCE Fidor Germany 100.0 Jul 16 AVAST Software AVG Technologies Netherlands 1,170.0 2.7x 9.5x Jul 16 InfraVia Next Generation Data UK 119.4 8.9x 20.8x Jul 16 Thoma Bravo Trader Corporation Canada 1,076.5 Mai 16 Ingenico Nera Solutions Singapore 57.0 2.7x Jun 16 Capita Trustmarque UK 74.2 Jun 16 Astorg VI Special AutoForm Switzerland 644.0 12.9x Jun 16 Dedalus SpA NoemaLife SpA Italy 61.4 Mai 16 Volkswagen Gett Israel Mai 16 eBay ExpertMaker AB Sweden Mai 16 Microsoft Solair Italy Mai 16 New Signature Dotnet Solutions United Kingdom 0.3x 3.5x Apr 16 Rakuten Cabify Spain 283.1 Apr 16 Nokia Withings France 170.0 Apr 16 Zoopla Property Software Holdings United Kingdom 94.8 4.7x 14.7x Apr 16 Altor Infotheek Netherlands Mrz 16 Aconex Conject Germany 65.0 Mrz 16 Visma Fortnox Sweden 146.0 9.2x 45.4x Mrz 16 Facebook Masquerade Belarus Mrz 16 Freenet Media Broadcast Germany 295.0 Mrz 16 MasterCard VocaLink United Kingdom 1,294.7 Feb 16 Oracle Ravello Systems Israel 453.6 Feb 16 Golden Brick Consortium Opera Norway 1,100.0 2.0x 12.7x Jan 16 Seat Pagine Gialle Italiaonline Italy 450.6 Sources: Press articles, Capital IQ. 31 Please email Marco Rodzynek for any comments.