THE TOP 80 DIGITAL EUROPEAN M&A DEALS BY SIZE IN THE LAST 7 YEARS We hosted on main stage 56% of the top 80 digital M&A Exits (€45bn combined EV) in Europe since the launch of NOAH Conference in Nov 2009 Date Acquiror Target Target Country Adjusted EV Date Acquiror Target Target Country Adjusted EV (€m) (€m) Jun 16 Tencent Supercell (84%) Finland 9,687 Sep 10 Schibsted LeBoncoin (remaining 50%) France 400 Aug 15 Paddy Power Betfair Group (merger) UK 6,824 Jan 14 Zynga NaturalMotion UK 388 May 11 Microsoft Skype Luxemburg 5,899 Oct 14 Publicis Matomy (24.9%) Israel 383 Nov 15 Activision Blizzard King.com UK 4,539 Jan 14 Google DeepMind United Kingdom 365 Mar 15 YOOX Net-a-Porter (merger) UK 3,120 Jan 13 Ingenico Ogone Belgium 360 Oct 16 Cinven, Permira, Mid Europa Allegro Poland 3,033 Feb 12 Ahold Bol.com Netherlands 350 May 17 Moody’s Bureau van Dijk Netherlands 3,000 Aug 14 Delivery Hero Pizza.de Germany 300 Oct 15 Naspers Avito (50.6%) Russia 2,152 Aug 15 Ströer InteractiveMedia Germany 300 Jan 14 Apax Partners Trader Media Group UK 2,126 Jul 10 Permira eDreams Spain 300 Nov 13 Hellman & Friedman Scout24 Germany 2,000 Sep 16 ProSiebenSat.1 Parship (51%) Germany 300 Sep 14 Microsoft Mojang Sweden 1,932 Mar 17 Altice Teads.tv France 300 Dec 16 Go Daddy Host Europe Group Germany 1,690 Apr 16 Rakuten Cabify Spain 283 Dec 16 Ctrip Skyscanner UK 1,622 Feb 13 Partners Group Softonic (30%) Spain 275 Sep 14 mail.ru Vkontakte (remaining 48%) Russia 1,598 Jun 15 Vivendi DailyMotion (80%) France 271 Jul 17 Ingenico Bambora Sweden 1,500 Mar 16 Shandong Hongda Mining Co. Jagex UK 270 Jul 16 AVAST Software AVG Technologies Netherlands 1,170 Jun 15 7Commerce Verivox (80%) Germany 262 Mar 15 Optimal Payments Skrill UK 1,100 Jul 14 KKR Scout24 Schweiz & Omnimedia (49%) Switzerland 262 Jan 17 Zhejiang Jinke Entertainment Outfit7 Slovenia 1,000 Apr 15 Zoopla uSwitch UK 260 May 14 Permira Teamviewer Germany 870 May 17 MTG InnoGames (30%) Germany 260 Jun 13 Google Waze Israel 863 Dec 14 eSure Gocompare (50%) UK 241 Sep 14 Access Industries Perform Group UK 858 Jan 11 Amazon LoveFilm UK 236 Jul 14 Ingenico GlobalCollect Netherlands 820 Feb 17 Take-Two Social Point Spain 234 Dec 12 Expedia trivago (61.6%) Germany 774 Feb 15 Tamedia Ricardo Switzerland 228 Feb 14 CVC Capital Partners Avast Software Czech Republic 738 May 12 NTT DOCOMO Buongiorno Italy 223 Jul 15 Deutsche Boerse 360T Germany 725 Aug 12 AXA Private Equity Bestsecret.com Germany 223 Feb 14 Rakuten Viber Cyprus 658 Aug 15 Adidas Runtastic Austria 220 Dec 14 Adobe Fotolia Europe 645 May 15 Recruit Holdings Wahanda (70%) UK 218 Sep 10 Axel Springer Verlag SeLoger (87.6%) France 634 Mar 15 Recruit Holdings Quandoo (92.9%) Germany 213 Feb 15 Rocket Internet HelloFresh (51.7%) Germany 623 Jun 12 Naspers Netretail (79%) Netherlands 213 Jan 15 KKR thetrainline.com UK 595 Apr 16 AccorHotels OneFineStay UK 212 May 15 Delivery Hero Yemek Sepeti (88.6%) Turkey 594 Dec 14 Host Europe Intergenia Germany 210 Feb 17 Priceline Group Momondo Group UK 586 Dec 16 General Atlantic Hemnet (majority stake) Sweden 208 Oct 15 Exponent. Electra PhotoBox UK 546 May 11 LBO France Promovacances France 200 Jul 13 Cinven Host Europe UK 508 Jun 10 Rakuten PriceMinister France 200 Apr 16 Vente-Privée Privalia Spain 500 Jun 14 Bestseller M&M Direct UK 177 Feb 15 Rocket Internet Delivery Hero (30%) Germany 496 Mar 11 Privalia Dress for Less Germany 175 Mar 16 HgCapital Raet Netherlands 470 Apr 16 Nokia Withings France 170 Jul 13 TPG TSL Education UK 464 Sep 14 Neiman Marcus Mytheresa.com Germany 150 Mar 14 BC Partners CarTrawler Ireland 450 • Deal Value Top 80: EUR 77bn Feb 11 Odigeo (AXA and Permira) Opodo UK 450 Feb 15 Immowelt Immonet (merger) Germany 420 • Deal Value on NOAH Stage: EUR 45bn (59%) Apr 11 TA & Summit Bigpoint Germany 408 • 56% of Top 80 Deals presented at NOAH Note: Digital Companies trade sale exits (only one most recent deal counted per company). Green font denotes speaker at NOAH. 19