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USA Switzerland Germany France United Kingdom Canada Norway Brazil

M&A Flash Re ortM&A Flash Re ort Au ust 2009Au ust 2009Software and IT Industry Market Update:SOLD! Four com anies who ust did.

www.corumgroup.com

, ,10:00 am PT

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Mark ReedExecutive Vice President

orum roup .

Bruce MilneCEO & ChairmanCorum Group Ltd.

Ward CarterPresidentCorum Group Ltd.

Bruce Milne, the founder of Corum, is one of the true leaders in the software industry. He built the largest vertical market

software company in the world before founding Corum, where he has overseen more mergers than anyone in history,

generating over $6 Billion in wealth for the owners of privately held firms. Along the way, in addition to publishing

extensively, he has owned three other software companies (Rosesoft, Dataword, Insider Edition) and been a seed investor

in some of the leaders in our industry (Blue Coat, Bright Star, Sabaki). He founded the largest regional tech association

Washin ton Software Association and as a reco nized leader has served on numerous advisor boards includin

, , ,

Comdex, DEC, Apple, IBM, and personally advised Bill Gates at Microsoft. He has been a tech cabinet advisor to two

Governors, a Congressman and U.S. Senator on issues related to the future of the software industry. For his expertise, he

was commissioned by the U.S. government to write the definitive high tech business guide for the SBA. The Canadian

Government had him conduct research which led to the establishment of SoftWorld, and he was recently voted one of the

most influential people in the European software community for his work during the last market decline.

Corum Group Presentation 2

>> For todays presentation or more information, contact Pat Sultan(pats@corumgroup.com, +1 425-455-8281 ext. 248)

Ryan BlakelyVice President, ResearchCorum Group Ltd.

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Agenda

Overview of Current Market

Market and Valuation Analysis

SOLD! Sellers who just did it

os ng ommen s -

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August 2009 SynopsisWe continue to climb that wall of worr

Improvement, but still mixed messages

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...

Job losses worse than expected

Stimulus slow to flow

U.S. consumer confidence unexpectedly falls

European retail sales fall 14 th month in a row

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, ...German stocks highest since October

European confidence highest in a year

. .

Stocks hit nine month high

Cisco beats expectations

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Ryan BlakelyVice President, ResearchCorum Group Ltd.

analysis in the software and technology space. With over ten years experience in thesoftware M&A environment, Ryan has an intimate understanding of the software industry asa whole, especially as it relates to mergers and acquisitions. As the Vice President ofResearch, Ryan directs Corums research group in both North America and Europe, and

has played a direct role in developing buyer relationships during his tenure with Corum. Healso is a major contributor to Corums research reports. Ryan graduated from WashingtonState University with a B.A. in Business Management, with a focus on EntrepreneurialStudies.

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Public Markets

Nasdaq S&P Tech DJIA

Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09

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M&A Activity July

Number of Software and IT M&A Transactions

2009

2007

2008

July

2004

2005

0 50 100 150 200 250 300 350 400

2009 2008 2007 2006 2005 2004

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Corum Index M&A Statistics

Jul-09263

2

Jul-08275

2

Jun-09230

0# of Transactions# of Mega Deals >$1B

$1,170$121

$19

$2,600$146

$40

$855$148

$14

Largest DealAverage Deal Value

Median Seller Revenue

73%55%16%

55%56%19%

75%34%21%

% Terms UndisclosedAll Cash (announced)

$ values in millions

48%55% 43%

% Buyers Public

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Horizontal Application Software Market

Public Valuations

Sub-Sectors:Business IntelligenceCommunications

Horizontal

Content ManagementCRMERPHuman Resources

Software Supply Chain

EV/EBITDA 5.85 x 6.82 x 9.23 x 9.39 x 9.99 x 11.06 x

EV/S 1.12 x 1.12 x 1.16 x 1.35 x 1.50 x 1.58 x

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Horizontal Application Software Market

Sector: BI/AnalyticsTarget: SPSS Inc.Target Buyer

Buyer: IBMDate: July 2009

Transaction Value: $1.17 BillionStructure: Cash

u c rrow e u e

SAF Simulation AG SAP AG

TP Corporation VanceInfoRevenue Multiple: 2.9x

Comments:

Technologies

Exense Software AS Amesto Group AG

on nues o expan so wareofferingDeepens analytics portfolioSPSS ke asset to IBMs new

Corum Group Presentation 12

Smart Analytics System

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Vertical Application Software Market

Public Valuations

Sub-Sectors:A/E/CEner & EnvironmentFinancial ServicesGovernmentHealthcareOther

Vertical Application

Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09

Software

EV/EBITDA 6.19 x 6.53 x 7.26 x 7.99 x 8.17 x 8.91 xEV/S 1.01 x 1.14 x 1.31 x 1.40 x 1.51 x 1.51 x

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Vertical Application Software Market

Sector: Financial ServicesTar et: Bankrate, Inc.

Target Buyer

Buyer: Apax PartnersDate: July 2009

Transaction Value: $571 million

cro ge, nc. s a qu y ar ners

Maaguzi LLC Phase Forward

BVR Systems Elbit Systems

Revenue Multiple: 3.5x

Comments:

Medem Inc. MedFusion

Private EquityBuilt via M&AConverging sectors

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Consumer Application Software Market

Public Valuations

Sub-Sectors:Digital Media

Consumer

Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09

Software

EV/EBITDA 2.40 x 2.74 x 3.81 x 2.83 x 4.47 x 4.57 xEV/S 0.58 x 0.64 x 0.69 x 0.50 x 0.53 x 0.53 x

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Consumer Application Software Market

Sector: Content DeliveryTar et: Velocix

Target Buyer

Buyer: Alcatel-LucentDate: July 2009

Transaction Value: Undisclosed

ue ang o ware an n erac ve

Cashcade Ltd PartyGaming plc

NetTravel.cz Invia.cz

Comments:CDN heats up as consumerdemand for rich content

TangramInnovation

Shanghai AlliedCement Ltd.

continuesCross borderComplementary to ALUs current

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Infrastructure Market

Public Valuations

Sub-Sectors:CommunicationsDevelo ment ToolsLegacy Extension / SOANetwork ManagementSecurityStorageInfrastructure

Virtualization

Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09

EV/EBITDA 6.32 x 6.98 x 8.46 x 8.29 x 8.74 x 9.59 xEV/S 1.31 x 1.43 x 1.55 x 1.52 x 1.72 x 1.95 x

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Infrastructure Market

Sector: StorageTar et: OnStor

Target Buyer

Buyer: LSI CorporationDate: July 2009

Transaction Value: $25 million

og c c ee nc.

Ounce Labs Inc. IBM

NTRU Security

Revenue Multiple: 1.7x

Comments:

Cryptosystems Innovation

Golden GateSoftware

Oracle

Expands LSI storage offeringUnstructured dataContinued consolidation in

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Internet Market

Public Valuations

Sub-Sectors:Infrastructure

Internet

Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul09

EV/EBITDA 6.05 x 7.54 x 9.80 x 11.78 x 11.81 x 13.32 xEV/S 1.36 x 1.60 x 2.11 x 2.26 x 2.30 x 2.48 x

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Internet Market

Sector: Email/Social NetworkingTar et: Xoo it

Target Buyer

Buyer: Yahoo!Date: July 2009

Transaction Value: Est. $20 million

em e e ren s

Friends Reunited Oakley Capital

Investments

Comments:Carol Bartz continues deal makingSaaS

Cityside Tickets The UpTurn

Netravel.cz Invia.cz

Xoopit will drive more content toYahoo! properties

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IT Services Market

Public Valuations

ITServices

Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09EV/EBITDA 5.27 x 5.32 x 5.76 x 5.51 x 5.24 x 5.56 x

EV/S 0.55 x 0.56 x 0.60 x 0.61 x 0.63 x 0.68 x

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IT Services Market

Sector: ServicesTarget: Quintec SATarget Buyer

Buyer: Sonda SADate: July 2009Transaction Value: $43.3 millionStructure: Cash

ys ems a a orp

IQ Sys Ltd SCH Distribution

Nokia (Symbian Accenture Ltd Revenue Multiple: 0.4xServices)

Paragon SolutionsGroup

Forsythe SolutionsGroup

ommen s:Regional consolidation (Chile)

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Market and Valuation Summary

valuations

Gaining momentum in transaction volumes

Private equity putting dollars to work

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SOLD! Hear from four companies who just did.

Jeff BrownRegional Director, Gulf CoastCorum Group Ltd.

Jeff BrownRegional Director, Gulf CoastCorum Group Ltd.

Mark ReedExecutive Vice PresidentCorum Group Ltd.

Bill MontgomerySenior Vice PresidentCorum Group Ltd.

Corum Group Presentation 24

Corum advised the seller in each of these transactions.

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Control Technologies in a bid to significantly expand Rudolph's process

Date Announced: August 4, 2009

con ro so ware por o o.

Deal HighlightsU.S. Seller (Plano, Texas) U.S. Buyer (Flanders, NJ)Adventa , a Global Equity Capital, LLC affiliate company and a leading provider of a wide

manufacturing tool automation, Run-to-Run control, and fault detection and classificationThe acquisition will expand Rudolph Technologies' process control software portfolio withthe complementary products from Adventa. Rudolph Technologies intends to introduceAdventa solutions by leveraging Rudolph's worldwide sales and support organization.

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Cash deal - terms confidential

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services worldwide, acquires Petrospec Technologies, a specialist in petroleum

Date Announced: July 10, 2009

Deal HighlightsCross border transaction: U.S. seller (Houston, Texas), French buyer (Paris, France)Vertical Application Software - Energy & Environment sector

Petrospec, an innovator in seismic and real-time pore pressure and rock propertyanalysis, acquired by Geoservices, a worldwide leader in oilfield servicesPetrospec brand preserved as a new Geoservices divisionPetrospec Founder & CEO, Mark Herkommer, joins Geoservices as CEO of

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Petrospec Division. Mark is tapped to push the frontier in drilling technologyDeal terms confidential

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eg ance, nc. conso a es e

Enterprise Feedback Management market by acquiring Inquisite, Inc.

Date Announced: Jul 13, 2009

Deal Highlights U.S. seller (Austin, Texas), U.S. buyer (Salt Lake City, Utah) Horizontal A lication Software - Enter rise Feedback Mana ement EFM sector

Inquisite, a market leader in online survey software, acquired by Allegiance, aleading provider of voice-of-the-customer solutions in EFM market consolidation Inquisite brand preserved as an Allegiance company In uisite founders, Jim Martin and David Jacobson, transition to Alle iance in

Corum Group Presentation 27

leadership roles Deal terms confidential

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The new entity will combine Wenco's leading expertise in

Hitachi's long experience in the manufacturing and maintenance of mining equipment. The mining industry continues to need evolving technology solutions to improve operating efficiencies and manage costs. I believe the new Wenco/Hitachi team will be a key player in delivering those

solutions in years to come.

Date Announced: July 7, 2009

Deal Highlights

Cross-border transaction: Canadian seller, Japanese buyerVertical Market Application Mining SectorGlobal leader in Mine Management Solutions

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Key strategic position in mining industry that is moving toward more automationDeal terms confidential

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Anatomy of a Successful Transaction in the Downturn

Target multiple independent strategic categories

Refine the message

Actively manage the M&A process

Corum Group Presentation 29

Stay flexible and nimble

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Contact Information

Corum Group Ltd.

Bruce Milne, CEO

Ryan Blakely, VP Researchryan corumgroup.com

10500 NE 8th Street, Suite 1500

Bellevue, WA 98004

Corum Group International S..r.l.

Beim Paradeplatz

+1 425-455-8281

Basteiplatz 78001 ZrichSwitzerland

Corum Group Presentation 30

www.corumgroup.com