SECTORWATCH: Software Engineering...Software Engineering February 2018 Sector Dashboard Public...

SECTORWATCH:

Software EngineeringFebruary 2018

Sector Dashboard

Public Basket Performance

Operational Metrics

Valuation Comparison

Recent Deals

Appendix

7 Mile Advisors appreciates the opportunity to present this confidential information to the Company.This document is meant to be delivered only in conjunction with a verbal presentation, and is notauthorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of thedocument. All data cited in this document was believed to be accurate at the time of authorship andcame from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties orrepresentations as to the accuracy or completeness of third-party data contained herein. Thisdocument should be treated as confidential and for the use of the intended recipient only. Pleasenotify 7 Mile Advisors if it was distributed in error.

SECTORWATCH:


3 3All Rights Reserved to 7 Mile Advisors

All Rights Reserved to 7 Mile Advisors

About Us7MA provides Investment Banking & Advisory Services to the

Business Services and Technology Industries globally.

We advise on M&A and private capital transactions, and provide

market assessments and benchmarking. As a close knit team with

a long history together and a laser focus on our target markets, we

help our clients sell their companies, raise capital, grow through

acquisitions, and evaluate new markets.

SectorwatchWe publish sectorwatch, a review of M&A and operational trends in

the industries we focus.

Let us know if we can helpContact us if there are ways we can assist your M&A or financing

strategy.

OVERVIEW

Dashboard

summary metrics on the sector, with commentary on

market momentum by comparing the most recent 12-

month performance against the last 3-year averages

Valuation Comparison

a more graphical, detailed comparison of valuation

multiples for the public basket

Public Basket Performance

summary valuation and operating metrics for a basket of

comparable public companies

Recent Deals

the most recently announced sector deals

DASHBOARD

4All Rights Reserved to 7 Mile Advisors

Operating Metrics

Valuation

PUBLIC BASKET CONSTITUENTS

BSE:532735

BSE:533179

NYSE:GLOB

NYSE:LXFT

NYSE:EPAM

BSE:507685

ENXTPA:CAP

NSEI:INFY

BSE:532540

Revenue Growth Momentum

-0.07 1 - year revenue growth compared to revenue growth

average for last 3 years

Pricing / Gross Margin Momentum

-1.5% 1 - year gross profit % compared to gross profit %

average for last 3 years

Profitability Momentum

-1.1% 1 - year EBITDA % compared to EBITDA % average for

last 3 years

Current revenue growth rate is less than the average of the last 3 years,

indicating that the market may be flattening or declining

Current gross profit margin is less than the average of the last 3 years gross

profit margins, indicating customer pricing power

Current EBITDA margin is less than the average of the last 3 years EBITDA

margins, which may signal further consolidation

6.1%

14.4%

35.0%

0% 9% 18% 27% 36%

Median LTM Rev. Growth %

Median LTM EBITDA Margin %

Median LTM GP Margin %

2.1x

11.8x

16.1x

19.4x

0x 5x 10x 15x 20x

Median TEV / LTM Revenue

Median TEV / LTM EBITDA

Median TEV / LTM EBIT

Median Price / LTM Earnings

PUBLIC BASKET PERFORMANCE


Company TEV $m

LTM Rev

$m

Rev

Growth

YoY GP % EBITDA %

TEV / Rev

X

TEV /

EBITDA X # FTEs

Rev / FTE

$k

R Systems International Limited 56 93 1% 30% 6% 0.6 10.9 2,353 39

Persistent Systems Limited 840 471 6% 30% 15% 1.8 11.8 8,887 53

Globant S.A. 1,563 385 25% 37% 14% 4.1 29.5 5,631 68

Luxoft Holding, Inc. 1,734 878 17% 37% 11% 2.0 18.6 12,766 69

EPAM Systems, Inc. 5,345 1,365 23% 37% 14% 3.9 27.2 22,383 61

Wipro Limited 17,735 8,571 0% 29% 20% 2.1 10.6 160,000 54

Capgemini SE 22,942 14,483 1% 27% 13% 1.5 11.5 193,077 75

Infosys Limited 33,688 10,703 6% 35% 27% 3.2 11.8 200,364 53

Tata Consultancy Services Limited 82,716 18,907 3% 46% 27% 4.4 16.6 387,223 49

Average 18,513 6,206 9% 34% 16% 2.6 16.5 110,298 58

Median 5,345 1,365 6% 35% 14% 2.1 11.8 22,383 54

share price as of 14Feb18


Public Revenue Multiples Over Time

Public EBITDA Multiples Over Time PUBLIC BASKET VALUATION TRENDS

12.6x

2.7x

0x

2x

4x

6x

8x

10x

12x

14x

16x

May

-13

Au

g-1

3

No

v-1

3

Feb

-14

May

-14

Au

g-1

4

No

v-1

4

Feb

-15

May

-15

Au

g-1

5

No

v-1

5

Feb

-16

May

-16

Au

g-1

6

No

v-1

6

Feb

-17

May

-17

Au

g-1

7

No

v-1

7

Feb

-18

TEV/EBITDA - Median TEV/Revenue - Median

TEV/EBITDA - Average TEV/Revenue - Average 0.0x

0.5x

1.0x

1.5x

2.0x

2.5x

3.0x

3.5x

4.0x

May

-13

Au

g-1

3

No

v-1

3

Feb

-14

May

-14

Au

g-1

4

No

v-1

4

Feb

-15

May

-15

Au

g-1

5

No

v-1

5

Feb

-16

May

-16

Au

g-1

6

No

v-1

6

Feb

-17

May

-17

Au

g-1

7

No

v-1

7

Feb

-18

TEV/Revenue - Median TEV/Revenue - Average

0x

2x

4x

6x

8x

10x

12x

14x

16x

May

-13

Au

g-1

3

No

v-1

3

Feb

-14

May

-14

Au

g-1

4

No

v-1

4

Feb

-15

May

-15

Au

g-1

5

No

v-1

5

Feb

-16

May

-16

Au

g-1

6

No

v-1

6

Feb

-17

May

-17

Au

g-1

7

No

v-1

7

Feb

-18

TEV/EBITDA - Median TEV/EBITDA - Average


OPERATIONAL METRICS

LTM Revenue Growth % LTM Gross Profit Margin %

- 7.0% 14.0% 21.0% 28.0%

Median

Wipro Limited

R Systems International Limited

Capgemini SE

Tata Consultancy Services Limited

Infosys Limited

Persistent Systems Limited

Luxoft Holding, Inc.

EPAM Systems, Inc.

Globant S.A.

- 10.0% 20.0% 30.0% 40.0% 50.0%

Median

Capgemini SE

Wipro Limited



Infosys Limited

EPAM Systems, Inc.

Globant S.A.




Accounts Receivable Turnover Average Days Sales Outstanding

OPERATIONAL METRICS

0.0 1.5 3.0 4.5 6.0

Median

Wipro Limited

Capgemini SE

Tata Consultancy ServicesLimited


Infosys Limited

EPAM Systems, Inc.


R Systems InternationalLimited

Globant S.A.

- 22 44 66 88 110

Median

Globant S.A.



EPAM Systems, Inc.

Infosys Limited



Capgemini SE

Wipro Limited


OPERATIONAL METRICS

LTM Revenue per Full Time Employee x 000's LTM EBITDA %

$- $20 $40 $60 $80

Median




Infosys Limited

Wipro Limited

EPAM Systems, Inc.

Globant S.A.


Capgemini SE

- 7.0% 14.0% 21.0% 28.0%

Median



Capgemini SE

Globant S.A.

EPAM Systems, Inc.


Wipro Limited


Infosys Limited


TEV / LTM Revenue TEV / LTM EBITDA

VALUATION

0x 1x 2x 3x 4x 5x

Median


Capgemini SE



Wipro Limited

Infosys Limited

EPAM Systems, Inc.

Globant S.A.


0x 4x 8x 12x 16x 20x 24x 28x 32x

Median

Wipro Limited


Capgemini SE

Infosys Limited




EPAM Systems, Inc.

Globant S.A.


TEV / LTM EBIT Price / LTM Earnings

VALUATION

0x 9x 18x 27x 36x 45x

Median

Infosys Limited

Wipro Limited

Capgemini SE




EPAM Systems, Inc.


Globant S.A.

0x 15x 30x 45x 60x

Median

Infosys Limited

Wipro Limited

Capgemini SE




EPAM Systems, Inc.

Globant S.A.


Historical Valuation Multiples versus Gross Profit Historical Valuation Multiples versus Revenue Growth Rate

VALUATION

11x 11x 11x 12x 12x 17x 19x 27x 30x

29.0%

29.8%

26.8%

35.0%

29.6%

46.2%

37.5% 36.6%

36.8%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

0x

5x

10x

15x

20x

25x

30x

35x

LTM

GP

%

EBIT

DA

(x)

EBITDA(x) LTM GP%

11x 11x 11x 12x 12x 17x 19x 27x 30x0.0%

0.7% 1.0%

6.1% 6.4% 3.3%

17.0%

23.3% 25.4%

0%

5%

10%

15%

20%

25%

30%

0x

5x

10x

15x

20x

25x

30x

35x

LTM

RG

R%

EBIT

DA

(x)

EBITDA(x) LTM RGR%


RECENT TRANSACTIONS

Date Target Buyer Total Transaction Value Target Revenue TEV / Revenue TEV / EBITDA

29Jan18 Birlasoft (India) Ltd. KPIT Technologies Limited - - - -

22Jan18 Bulletproof Group Limited Australian Centre For Advanced Computing

And Communication Pty Ltd

23.49 39.67 0.6x 39.8x

22Jan18 Toxicology Regulatory Services, Inc. Trinity Consultants, Inc. - - - -

18Jan18 Solekai Systems Corporation Fairway Technologies, Inc. - - - -

17Jan18 Exactpro Systems, LLC EXPLORE123 - - - -

2Jan18 Zhonghang Electronic Measuring Instruments

Co., Ltd

- - 190.97 - -

20Dec17 SQS India BFSI Limited SQS Software Quality Systems AG 20.69 38.89 1.7x 13.0x

18Dec17 SolarBuyer, LLC PI Photovoltaik-Institut Berlin AG - - - -

9Nov17 SQS Software Quality Systems AG Assystem Technologies SA 446.16 377.33 1.1x 13.8x

5Dec17 The Odin Project and Viking Education Inc. Thinkful, Inc. - - - -

23Nov17 Meona GmbH EMERAM Capital Partners GmbH - - - -

21Nov17 Bulletproof Group Limited Macquarie Cloud Services Pty Limited 14.77 37.51 0.4x 29.8x

17Nov17 Nerviano Medical Sciences S.r.l. - - - - -

15Nov17 Polymetrix AG Beijing Sanlian Hope Shin-Gosen Technical

Service Co., Ltd.

- - - -

13Nov17 adaptronic Prüftechnik GmbH Schleuniger Test Automation GmbH - 16.32 - -

8Nov17 TestMatick LTD QA Mentor, Inc. - - - -

1Nov17 CorSource Technology Group, Inc. - - - - -

2Nov17 Primary Integration, LLC Bureau Veritas SA - 23.23 - -

30Oct17 Xavient Information Systems Inc. TELUS International, Inc. 130.00 - - -

24Oct17 VMC Consulting, Inc. Keywords International Limited 49.80 - - -

23Oct17 SYNCOS GmbH Alpina Partners Limited - - - -

23Oct17 Ranorex GmbH IDERA, Inc. - - - -

17Oct17 Praxis Engineering Technologies, Inc. CSRA LLC 235.00 - - -

25Sep17 Principle Solutions Group, LLC Eliassen Group, LLC. - - - -

15Sep17 InfoZen, Inc. ManTech International Corporation 180.00 - - -

13Sep17 QAWorks Limited ECS Digital Limited - - - -

5Sep17 Global Edge Software Ltd. Altran Technologies India Private Limited 15.59 - - -

20Aug17 Cloud Technology Partners, Inc. Hewlett Packard Enterprise Company - - - -

5Sep17 Global Edge Software Ltd. Altran Technologies S.A. - - - -

31Aug17 Galitt. SAS Sopra Steria Group - 36.58 - -


RECENT TRANSACTIONS

Date Target Buyer Total Transaction Value Target Revenue TEV / Revenue TEV / EBITDA

28Aug17 Blue Agility, LLC cPrime Inc. - - - -

25Aug17 Sencha Inc. Embarcadero Technologies, Inc. - - - -

24Aug17 Tech Knowledge Solutions Inc Assumption Group - - - -

23Aug17 ThoughtWorks, Inc. Apax Partners LLP - - - -

22Aug17 Atlantix Global Systems, LLC CXtec Inc. - - - -

9Aug17 Zado Infotech Solutions India Pvt Ltd QA Mentor, Inc. - - - -

9Aug17 Wire Stone, LLC Accenture plc - - - -

7Aug17 VersionOne, Inc. CollabNet, Inc. - - - -

3Aug17 ADM Systems Engineering Ltd. Vinci Energies - 4.75 - -

2Aug17 Halo Group, LLC Fahrenheit IT, Inc. - - - -

1Aug17 Syncroness, Inc. Alten SA - - - -

31Jul17 QSI Group Limited VINCI Energies S.A. - 3.30 - -

28Jul17 Netas Telekomünikasyon A.S. ZTE Cooperatief U.A. - 286.07 - -

21Jul17 Accel Frontline Limited - - 91.51 - -

21Jul17 Global Market Solutions SAS Hiq Consulting - - - -

20Jul17 Advinus Therapeutics Ltd. Eurofins Pharma Services Lux Holding SARL - 18.94 - -

20Jul17 Vitro S.A. GED Iberian Private Equity, S.A., SGEIC;

GED V España, FCR.

- 18.05 - -

10Jul17 Central Illinois Grain Inspection, Inc. SGS SA - 1.00 - -

6Jul17 Project Performance Company, LLC Data Systems Analysts, Inc. - - - -

5Jul17 Marias Technology, Inc. - - - - -

3Jul17 Stratosphere Quality LLC Sojitz Corporation; GREEN TEC

CORPORATION

- 122.00 - -

1Jul17 TechJini Solutions Private Limited Datamatics Global Services Limited 6.05 5.42 1.6x -

30Jun17 Threesixty Logica Testing Services Private

Limited

Saksoft Limited 1.08 - - -

26Jun17 Kentor AB Sopra Steria Group - 38.09 - -

26Jun17 CloudMunch Inc. JFrog Ltd - - - -

12Jun17 ViaWest, Inc. Peak 10 Holding Corporation 1,675.00 - - -

Appendix: Public Basket

Constituents

7 Mile Advisors appreciates the opportunity to present this confidential information to the Company.This document is meant to be delivered only in conjunction with a verbal presentation, and is notauthorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of thedocument. All data cited in this document was believed to be accurate at the time of authorship andcame from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties orrepresentations as to the accuracy or completeness of third-party data contained herein. Thisdocument should be treated as confidential and for the use of the intended recipient only. Pleasenotify 7 Mile Advisors if it was distributed in error.

SECTORWATCH:




R Systems International Limited provides information technology (IT)

solutions and business process outsourcing (BPO) services worldwide.

The company offers Computaris Convergent Charging solution to

converge real-time rating, charging, and billing; mobile broadband

management solutions; Computaris mobile virtual network operator

(MVNO) in a White Box solution for MVNOs business exigencies; and

value added services, as well as product development and

maintenance, system integration, technical support and managed, BPO,

and testing services to the telecom and digital media industries. It also

provides services in area of card less/NFC based transactions;

mobile/tablet applications; product customization/maintenance/support;

ATM management; third-party and customer relationship management

integration; ATM on cloud; deposit automation; and passbook printing

solutions to financial institutes and software companies. In addition, the

company offers OPD-integrated product lifecycle management services,

domain consultancy, enterprise application integration, independent

testing, implementation, offshore product development, software re-

engineering, requirement engineering and GAP analysis, application

development and maintenance, third-party interface/integration,

support, and staff augmentation services for the banking and finance

services sector. Further, it provides IT and BPO services to the

healthcare industry; and ECnet Pro trading platform, a supply chain

management and business-to-business platform to collaborate and

complete purchase related processes and transactions to the

manufacturing and logistics industries. The company was founded in

1993 and is headquartered in Noida, India.


Date Key Development Headline

5/5/17 R Systems Seeks Acquisitions

0.0x

0.5x

1.0x

1.5x

2.0x

Revenue Multiples - R Systems International Limited

TEV/Revenue Average

0x

2x

4x

6x

8x

10x

12x

14x

EBITDA Multiples - R Systems International Limited

TEV/EBITDA Average

0x

5x

10x

15x

20x

P/E Multiples - R Systems International Limited

P/E Average



Persistent Systems Limited provides computer programming,

consultancy, and related services in Africa, Asia, Australia, Europe, and

North America. The company operates through four segments:

Services, Digital, Alliance, and Accelerite. It engages in providing

software development, professional, and marketing services;

technology solutions in the life sciences, telecom, and product lifecycle

management domains; and the maintenance of IT software and

services. It also deploys, integrates, and runs social communities on

social customer platforms to provide insights; and offers business-

critical infrastructure software for enterprises, telecom operators, and

the public sector. In addition, the company is involved in the business of

a telecommunication API gateway for defining, exposing, controlling,

and monetizing telecom services to partners and application

developers; and operating an Internet of Things service creation

platform that allows enterprises to add a service layer to the basic APIs

exposed to by connected devices, and to expose and monetize these

APIs. Persistent Systems Limited has a strategic collaboration with

Partners HealthCare to develop an industry-wide open-source digital

platform for clinical care. The company was incorporated in 1990 and is

based in Pune, India.


7/21/17 Persistent Systems Mulls Acquisitions

4/25/17 Persistent Systems and Partners HealthCare Announce

Strategic Collaboration to Develop New Industry-Wide

Open-Source Platform


0.0x

0.8x

1.6x

2.4x

3.2x

4.0xRevenue Multiples - Persistent Systems Limited

TEV/Revenue Average

0

4

8

12

16

20EBITDA Multiples - Persistent Systems Limited

TEV/EBITDA Average

0

5

10

15

20

25

30P/E Multiples - Persistent Systems Limited

P/E Average

Globant S.A.


Globant S.A. develops and provides software solutions to clients in

North America, the Latin America, Europe, and Asia. It offers API

management, e-commerce, and digital solutions; graphics engineering,

game engineering, gaming experience, VR/AR development, and digital

platform services; Big Data services, such as data integration, data

architecture, scalable platform, blockchain, data visualization, and data

science; testing center, test automation, mobile testing, and load and

performance testing services. The company also provides enterprise

consumerization services, including enterprise operations, collaboration

solutions, cloud development, and talent management; UX design

services comprising service, user experience, industrial design, and

visual design; and native development, product development, and

enterprise mobility services for mobiles. In addition, it engages in the

provision of cloud technologies and managed services; wearable

application usability and design, hardware integration, data design and

management, and native wearable and embedded development

activities. Further, the company offers software evolution, IT service

management, and software archaeology services; content management

system, e-learning solution, digital marketing, and video content

production services; and cognitive computing services. Globant S.A.

was founded in 2003 and is based in Luxembourg.


5/31/17 Globant S.A. (NYSE:GLOB) entered into a definitive stock

purchase agreement to acquire PointSource, LLC for $28

million.

4/6/17 Globant S.A. (NYSE:GLOB) acquired Difier S.A. from

3Cinteractive, L.L.C. for $0.03 million.


0

1

2

3

4

5

6

7Revenue Multiples - Globant S.A.

TEV/Revenue Average

0

10

20

30

40

50EBITDA Multiples - Globant S.A.

TEV/EBITDA Average

0

10

20

30

40

50

60

70P/E Multiples - Globant S.A.

P/E Average



Luxoft Holding, Inc., together with its subsidiaries, provides software

development services and IT solutions to multinational corporations

primarily in Europe and the United States. It offers application software

development, software architecture design, performance engineering,

optimization and testing, process consulting, and software quality

assurance services; functional specification and mock-up, product

design, engineering, automated testing, maintenance, support, and

performance engineering services; and IT strategy, software

engineering process, and data security consulting services. The

company’s products and platforms include Teora, a suite of developer

tools designed to enable automotive human machine interface (HMI)

developers build the logic of their user interface; Populus, a tool chain

for HMI design and development, and the deployment of automotive

user interfaces for distributed embedded systems; and AllView, a user-

experience demonstrator that links instrument cluster, head unit, head-

up display, and mobile devices. It serves financial services, automotive

and transport, travel and aviation, technology, telecom, healthcare and

pharmaceutical, energy, and other industries. The company was

founded in 2000 and is headquartered in Zug, Switzerland.


11/17/17 Luxoft Holding, Inc. Seeks Acquisitions

2/14/17 Luxoft Holding Seeks Acquisitions


0.0

1.0

2.0

3.0

4.0

5.0Revenue Multiples - Luxoft Holding, Inc.

TEV/Revenue Average

0

5

10

15

20

25

30EBITDA Multiples - Luxoft Holding, Inc.

TEV/EBITDA Average

0

9

18

27

36

45P/E Multiples - Luxoft Holding, Inc.

P/E Average

EPAM Systems, Inc.


EPAM Systems, Inc. provides product development and software

engineering solutions worldwide. The company offers software product

development services, including product research, customer experience

design and prototyping, program management, component design and

integration, lifecycle software testing, product deployment and end-user

customization, performance tuning, product support and maintenance,

and managed services, as well as porting and cross-platform migration.

It also provides custom application development services, such as

business and technical requirement analysis, user experience design,

solution architecture creation and validation, development, quality

assurance and testing, legacy applications re-engineering/refactoring,

porting, and cross-platform migration and documentation. In addition,

the company offers software application testing services, including test

automation tools and frameworks; testing for enterprise IT, such as test

management, automation, functional and non-functional testing, and

defect management; and consulting services. Further, it provides

enterprise application platform services comprising requirements

analysis and platform selection, customization, cross-platform

migration, implementation, integration, and support and maintenance.

The company was founded in 1993 and is headquartered in Newtown,

Pennsylvania.


11/2/17 EPAM Systems Seeks Acquisitions


0.0

1.0

2.0

3.0

4.0

5.0

6.0Revenue Multiples - EPAM Systems, Inc.

TEV/Revenue Average

0

5

10

15

20

25

30

35EBITDA Multiples - EPAM Systems, Inc.

TEV/EBITDA Average

0

10

20

30

40

50

60

70P/E Multiples - EPAM Systems, Inc.

P/E Average

Wipro Limited


Wipro Limited operates as an information technology (IT), consulting,

and business process services company worldwide. The company’s IT

Services segment provides a range of IT and IT-enabled services,

which include digital strategy advisory, customer centric design,

technology consulting, IT consulting, custom application design,

development, re-engineering and maintenance, systems integration,

package implementation, infrastructure services, analytics services,

business process services, research and development, and hardware

and software design services to enterprises. This segment serves

customers in various industry verticals comprising banking, financial

services, and insurance; healthcare and life sciences; consumer

business units; energy, natural resources, and utilities; manufacturing

and technology; and communications. The company was founded in

1945 and is headquartered in Bengaluru, India.


7/4/17 Wipro Limited and Ramot at Tel Aviv University Collaborate

for Joint Research in Emerging Technologies

6/22/17 Wipro Limited Collaborates with Red Hat for Cloud

Application Factory Powered by Red Hat OpenShift

Container Platform

6/5/17 Wipro Denies News Report On Founders Looking To Sell

Part Or All Of Company

4/26/17 Wipro Seeks Acquisitions

4/9/17 Wipro Limited (BSE:507685) completed the acquisition of

InfoSERVER S.A. from Intel Capital and others.


0.0

1.0

2.0

3.0

4.0Revenue Multiples - Wipro Limited

TEV/Revenue Average

0

5

10

15

20EBITDA Multiples - Wipro Limited

TEV/EBITDA Average

0

5

10

15

20

25P/E Multiples - Wipro Limited

P/E Average

Capgemini SE


Capgemini SE provides consulting, technology, and outsourcing

services. It operates through Consulting Services, Technology &

Engineering Services, Application Services, and Other Managed

Services segments. The company offers consulting services in the

areas of digital transformation, strategy and transformation, supply

chain management, finance transformation, people and performance,

CIO strategy and transformation, accelerated solutions environment,

and big data and analytics, as well as marketing, sales, and services. It

also designs, develops, and implements technology projects; and

provides system integration, and IT application development and

maintenance services. In addition, the company integrates, manages,

and/or develops client’s IT infrastructure systems, transaction services,

on-demand services, and/or business process outsourcing services;

and offers professional technology services for applications,

engineering, testing, and operations. Capgemini SE was founded in

1967 and is based in Paris, France.


9/25/17 Capgemini Seeks Investments

9/19/17 Capgemini SE (ENXTPA:CAP) agreed to acquire Lyons

Consulting Group.

7/6/17 Capgemini SE (ENXTPA:CAP) agreed to acquire Radi

Software Do Brasil Ltda. from McDonald's Corporation

(NYSE:MCD).

5/22/17 Tradeshift Holdings Inc. completed the acquisition of IBX

Business Network from Cap Gemini S.A. (ENXTPA:CAP).

3/22/17 Cap Gemini S.A. (ENXTPA:CAP) agreed to acquire Itelios.


0.0

0.5

1.0

1.5

2.0Revenue Multiples - Capgemini SE

TEV/Revenue Average

0

3

6

9

12

15EBITDA Multiples - Capgemini SE

TEV/EBITDA Average

0

5

10

15

20

25

30P/E Multiples - Capgemini SE

P/E Average

Infosys Limited


Infosys Limited, together with its subsidiaries, provides consulting,

technology, and outsourcing services in North America, Europe, India,

and internationally. It provides business information technology

services, including application development and maintenance,

independent validation, infrastructure management, and business

process management services, as well as engineering services, such

as engineering and life cycle solutions; and consulting and systems

integration services comprising consulting, enterprise solutions,

systems integration, and advanced technologies. The company’s

products include Finacle, a banking solution that provides analytics,

core banking, consumer e-banking, corporate e-banking, Islamic

banking, mobile banking, origination, payments, SME enable, treasury,

wealth management, and youth banking solutions. Infosys Limited was

founded in 1981 and is headquartered in Bengaluru, India.


9/17/17 Infosys Limited (NSEI:INFY) agreed to acquire CMA

Systems FZ-LLC from CMA CGM S.A. for $1.

9/10/17 Infosys Limited (NSEI:INFY) completed the acquisition of

Brilliant Basics Holding Limited from Anand Verma,

Founder and CEO and the Management of Brilliant Basics.

9/8/17 Infosys Limited Seeks Acquisitions

8/2/17 Infosys Limited (NSEI:INFY) entered into a definitive

agreement to acquire Brilliant Basics Holding Limited from

Anand Verma, Founder and CEO and the Management of

Brilliant Basics for £7.5 million.

6/9/17 Infosys Denies Any Stake Sale In The Company


0.0

1.0

2.0

3.0

4.0

5.0Revenue Multiples - Infosys Limited

TEV/Revenue Average

0

5

10

15

20

EBITDA Multiples - Infosys Limited

TEV/EBITDA Average

0

5

10

15

20

25P/E Multiples - Infosys Limited

P/E Average



Tata Consultancy Services Limited provides information technology (IT)

and IT enabled services worldwide. It offers CHROMA, a cloud-based

talent management platform for enterprises to drive next generation

employee experiences across the requisition-to-retire employee

lifecycle; ignio, a cognitive automation system for IT operations in

enterprises; iON, an assessment solution; TAP, an accounts payable

platform; and TCS MasterCraft, a digital platform to automate and

manage IT processes. Tata Consultancy Services Limited is a

subsidiary of Tata Sons Limited.


10/26/17 Tata Consultancy Services and ACORD Collaborate on

Digital Transformation Enhancements for the Insurance

Industry

10/25/17 National University Signs Pact with Tata Consultancy

Services to Enhance Filipinos' Employability Skills

6/12/17 Tata Consultancy Services Collaborates with Intel

Corporation to Drive Digital Transformations

6/5/17 Tata Consultancy Services and Siemens Unveil New

Collaboration Around Internet of Things Innovation

5/18/17 Tata Consultancy Services, Qualcomm Incorporated and

FHI 360 Collaborate to Create Wireless Solution for

Fisheries in Senegal

3/30/17 Tata Consultancy Services Collaborates with SATS Ltd. to

Develop Smart Watch Solution for Airport Technical Ramp

Operations


0.0

2.0

4.0

6.0

8.0Revenue Multiples - Tata Consultancy Services Limited

TEV/Revenue Average

0

5

10

15

20

25

30EBITDA Multiples - Tata Consultancy Services Limited

TEV/EBITDA Average

7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally.

We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a

close-knit team with a long history together and a laser focus on our target markets, we help our clients sell their

companies, raise capital, grow through acquisitions, and evaluate new markets. Securities offered through 7M

Securities LLC.

CONTACT INFORMATION


Charlotte | Los Angeles | Tampa | Houston | Chicago

Leroy Davis, Partner 704.899.5962 [email protected]

Tripp Davis, Partner 704.899.5762 [email protected]

Andy Johnston, Partner 704.899.5961 [email protected]

Tom Dinnegan, Managing Director 310. 426.2410 [email protected]

Ben Lunka, Managing Director 704.496.2995 [email protected]

Jeff Stoecklein, Managing Director 312-373-3737 [email protected]

Kristina Sergueeva, Director 704.899.5149 [email protected]

Neil Churman, Director 704.899.5960 x 121 [email protected]

John Cooper, Director 704.973.3996 [email protected]

Tim Frye, Director 704.973.3994 [email protected]

Casey Augustine, Business Development - Manager 704.973.3999 [email protected]

Nicholas Prendergast, Financial Analyst 704.899.5960 [email protected]

Ariail Siggins, Marketing Director 704.899.5960 x 123 [email protected]

Rory Julyan, Associate 704.899.5960 [email protected]

Chevonese Dacres, Analyst 360.499.1502 [email protected]

https://plus.google.com/113511343276753495428/posts?utm_source=embedded&utm_medium=googleabout&utm_campaign=link

http://bit.ly/LX0gZc

http://www.linkedin.com/company/7-mile-advisors

https://www.youtube.com/channel/UC26QsPcotgy_UfecBtBfk2A

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