Select Transaction Comparables (Cont’d) Strategic Buyers Date Acquiror Target Target Adjusted Revenue Multiple EBITDA Multiple Country EV (€m) LTM Forward LTM Forward Others (Cont'd) Dez 15 Laird Novero Germany 65.0 Dez 15 Ströer SE Statista (81.3%) Germany 79.3 Dez 15 CSC Xchanging UK 607.7 1.0x Nov 15 Cisco Acano UK 684.9 20.0x Nov 15 ACI Worldwide PAY.ON Germany 180.0 13.0x Okt 15 Trinity Mirror Local World UK 307.5 5.0x Okt 15 Google Digisfera Portugal Okt 15 Vivendi Telecom Italia (stake increase to 20%) Italy 678.0 Sep 15 Figaro Group CCM Benchmark France Sep 15 Axel Springer Business Insider (remaining 88%) US 395.0 Sep 15 Credit Mutuel Arkéa Leetchi France 50.0 Sep 15 Interoute Easynet UK 552.2 Sep 15 Microsoft Adallom Israel 285.5 Sep 15 GVC Holdings Bwin.party Gibraltar 1,524.0 Aug 15 Paddy Power Betfair Group (merger) UK 6,824.5 Aug 15 Manheim Movex (majority stake) UK Aug 15 Adidas Runtastic Austria 220.0 Jul 15 Deutsche Boerse 360T Germany 725.0 Jul 15 Nikkei Financial Times UK 1,192.2 Jul 15 Oculus VR Pebbles Interfaces Israel 55.1 Jul 15 CareerBuilder Textkernel Netherlands Jul 15 Rakuten Fits.me UK Jul 15 United Internet Home.pl Poland 155.0 Jun 15 Vivendi DailyMotion (80%) France 271.3 4.2x Jun 15 Microsoft 6Wunderkinder Germany 137.3 Mai 15 Oculus VR Surreal Vision UK Mai 15 Visma e-conomic DK 200.0 5.9x Mai 15 AVG Privax HMA! UK 52.9 Apr 15 Playtech TradeFX UK 458.0 4.0x 8.1x Mrz 15 Optimal Payments Skrill UK 1,100.0 9.0x Mrz 15 Paypal CyActive Israel 54.4 Feb 15 British Gas AlertMe UK 88.4 3.7x Feb 15 Wanda Infront Sports & Media Switzerland 1,050.0 1.9x Feb 15 Under Armour Endomondo Denmark 75.1 Jan 15 DropBox CloudOn Israel 64.1 Dez 14 Host Europe Intergenia Germany 210.0 Dez 14 Progress Telerik Bulgaria 211.9 4.4x Nov 14 Solera CAP Automotive UK 328.5 9.2x 15.8x Sep 14 Daimler mytaxi Germany 50.0 Sep 14 Fis Clear2pay Belgium 375.0 3.9x Jul 14 Rightster Base79 UK 62.9 15.3x Jul 14 Ingenico GlobalCollect Netherlands 820.0 2.7x 16.4x Jun 14 Vodafone Cobra Automotive Italy 145.0 1.0x 8.5x Apr 14 Facebook ProtoGeo Oy Finland Apr 14 Vistaprint Pixartprinting Italy 137.0 2.4x 10.0x Mrz 14 Kudelski Group Conax Norway 164.0 Feb 14 McGraw Hill Area9 Denmark 130.0 Feb 14 Rakuten Viber Cyprus 658.1 Feb 14 Renova Group Octo Telematics Italy 405.0 3.3x Jan 14 Google DeepMind United Kingdom 365.3 Dez 13 Klarna Sofort Germany 110.0 Dez 13 Dassault Systemes RealTime Techology (84%) Germany 179.8 2.0x 13.3x Okt 13 Asurion Soluto Israel 72.9 Sep 13 EMIS Ascribe UK 68.7 2.5x Jun 13 Google Waze Israel 863.7 NM Feb 13 Orange DailyMotion France 127.0 Jan 13 Ingenico Ogone Belgium 360.0 8.6x 6.6x 25.0x Jul 12 Skrill Paysafecard Austria 140.0 Jun 12 Rakuten Wuaki.tv Spain Mai 12 Perform Group RunningBall Switzerland 120.0 7.4x 16.6x Mai 12 NTT DOCOMO Buongiorno Italy 223.9 1.0x 10.9x Mai 11 Microsoft Skype Luxemburg 5,899.0 10.7x 47.6x Jan 11 AOL GoViral UK 71.0 6.0x 25.0x Jan 11 Amazon LoveFilm UK 236.3 2.2x 1.8x Aug 10 MasterCard DataCash UK 360.9 9.0x 19.8x Sources: Press articles, Capital IQ. 32 Please email Marco Rodzynek for any comments.