Tech M&A Breakfast September 16, 2015

Tech M&A Breakfast September 16, 2015

Our research & data products provide the right mix of quantitative and qualitative insight to impact your critical business decisions. C O M P E T I T I V E I N T E L L I G E N C E M A R K E T I N T E L L I G E N C E Market Insight Technology & Business Insight Customer Insight KnowledgeBase Market Monitor & Forecast Concise reports on the technologies and services that drive IT innovation Qualitative & quantitative reports providing comprehensive analysis of specific technologies, markets and economic drivers Insight into IT purchase-decision behavior, implementation best practices and technology adoption trends Interactive databases offering in-depth data on IT and telecom M&A and, separately, on multi-tenant datacenter facilities Quantitative deliverables that offer market size, share and growth forecasts for rapidly evolving marketplaces Q U A L I T A T I V E Q U A N T I T A T I V E 2

451 KnowledgeBases now cover full lifecycle of tech companies Database family providing deep insight on emerging companies from founding through liquidity Launch Funding Growth Exit Technology Company KnowledgeBase M&A KnowledgeBase 3

Our proprietary estimates make a difference! KnowledgeBase Valuation Comparables for SaaS and Cloud Deals, 2012 to present Source: 451 Research M&A KnowledgeBase Twice as many comps as other databases thanks to our proprietary data Officially Announced Comps 70 451 Proprietary Comps 69 4

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MVP is a Technology, Media and Telecom Focused Investment Bank Firm Overview Founded in 1987 as an industry-focused investment bank, MVP offers merger and acquisition and capital raising advisory services MVP has advised on over $17 billion in transaction value with excellent transaction momentum, completing 39 transactions YTD and 48 transactions in 2014 Locations San Francisco Boulder Kansas City New York Boston Industry Expertise Technology and Cloud Services Telecom / Towers Traditional Media Renewable Energy Data Center & Hosting IT & Managed Services Cloud Software & Services M2M Communications Wireless & Wireline Service Providers Spectrum Owners Wireless Infrastructure & Leasehold Owners Radio Broadcasters TV Broadcasters TV Spectrum Speculators Solar Operating Asset Owners Renewable Energy Service Providers Wind Operating Asset Owners Expertise in positioning recurring revenue IT services businesses Excellent deal flow and mindshare: seven active engagements in IT, Cloud Services and M2M sectors Over $2.3 billion in closed transactions 80+ closed Spectrum transactions 28-year history in the sector One of the top ranked radio & TV brokers in each of the last three years Leveraging execution expertise and investor relationships Closed 2 headline solar deals with telecom investors 6

MVP is a Leading IT Services, Data Center and Hosting Advisor 7

Tech M&A activity 2004-2014, annual activity Source: 451 Research M&A KnowledgeBase. Includes disclosed and estimated values. Total deal value ($bn) Total volume $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0 4036 3654 3794 3644 3895 3054 3098 3030 3293 3275 2091 $219 $360 $418 $420 $326 $143 $190 $225 $186 $255 $445 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 4500 4000 3500 3000 2500 2000 1500 1000 500 0 8

Tech M&A outlook Source: M&A Leaders Survey from 451 Research and Morrison & Foerster 72% 59% 54% 49% 50% 48% 61% 43% 34% 33% 27% 24% 36% 30% 19% 17% 16% 8% 7% 4% 9% Increase Stay the same Decrease Apr. 2012 forecast Oct. 2012 forecast Apr. 2013 forecast Oct. 2013 forecast Apr. 2014 forecast Oct. 2014 forecast Apr. 2015 forecast 9

Tech M&A activity 2004-2015, annual activity Source: 451 Research s M&A KnowledgeBase. Includes disclosed and estimated values. Total deal value ($bn) Total volume $600 $500 $400 3054 4036 3654 3098 3030 3293 3794 3650 3284 3935 4235 4500 4000 3500 3000 $300 2091 2823 2500 2000 $200 1500 $100 $0 $219 $360 $418 $420 $326 $143 $190 $232 $186 $246 $391 $375 $563 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD* 2015 pace 1000 500 0 10

Hosted services M&A activity 2004-2015, annual activity Source: 451 Research s M&A KnowledgeBase. Includes disclosed and estimated values. Total deal value ($bn) Total volume $10.0 $9.5 140 $9.0 $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 44 49 $0.8 $0.7 89 89 $1.6 $3.5 80 80 $1.7 $2.1 107 $5.0 99 115 $4.3 118 $6.2 112 $4.1 $8.7 103 120 100 80 60 40 20 $0.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD* 0 11

Hosted services M&A activity 2013-2015, annual activity Source: 451 Research s M&A KnowledgeBase, Datacenter KnowledgeBase and research reports. 3.50 3.00 2.50 2.00 1.50 1.00 Total known square footage (millions) 0.50 1.79 2.18 3.21 0.00 2013 2014 2015 YTD* 12

Hosted services M&A activity Geographic breakdown, square footage Source: 451 Research s M&A KnowledgeBase, Datacenter KnowledgeBase and research reports 13

Thank You! Tim Miller Kelly Morgan Mark Fontecchio tim.miller@451reseach.com kelly.morgan@451research.com mark.fontecchio@451research.com