Sectorwatch:Salesforce PartnersJuly 2018
2
Salesforce PartnersJuly 2018
Sector Dashboard [4]
Public Basket Performance [5]
Operational Metrics [7]
Valuation Comparison [10]
Recent Deals [13]
Appendix [14]
7 Mile Advisors appreciates the opportunity to present this confidential information to the Company. This document is meant to be delivered only inconjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. Alldata cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7MSecurities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated asconfidential and for the use of the intended recipient only. Please notify 7 Mile Advisors if it was distributed in error.
3
Overview
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. We publish our sectorwatch, a review of M&A and operational trends in the industries we focus.
Dashboard• Summary metrics on the sector
• Commentary on market momentum by
comparing the most recent 12-month
performance against the last 3-year
averages.
Public Basket Performance• Summary valuation and operating metrics for
a basket of comparable public companies
Valuation Comparison• Graphical, detailed comparison of valuation
multiples for the public basket
Recent Deals• The most recently announced deals in the
sector
4
Dashboard
Operating Metrics
Valuation
Revenue Growth Momentum
0.005 1 - year revenue growth compared to revenue growth
average for last 3 years
Pricing / Gross Margin Momentum
-0.1% 1 - year gross profit % compared to gross profit %
average for last 3 years
Profitability Momentum
-0.3% 1 - year EBITDA % compared to EBITDA % average for
last 3 years
Current revenue growth rate exceeds the average of the last 3 years by this
amount, indicating that market momentum is increasing
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
7.7%
20.8%
34.7%
0% 10% 20% 30% 40%
Median LTM Rev. Growth %
Median LTM EBITDA Margin %
Median LTM GP Margin %
2.6x
13.5x
16.0x
25.8x
0x 10x 20x 30x
Median TEV / LTM Revenue
Median TEV / LTM EBITDA
Median TEV / LTM EBIT
Median Price / LTM Earnings
5
Public Basket
Company TEV $mLTM Rev
$m
Rev Growth
YoY GP %EBITDA
%TEV / Rev X
TEV / EBITDA
X # FTEsRev / FTE $k
Perficient, Inc. 1,005 483 5% 35% 12% 2.1 18.0 3,024 160
HCL Technologies Limited 18,369 7,838 12% 34% 23% 2.5 10.9 120,081 65
Capgemini SE 24,468 15,360 2% 26% 13% 1.6 12.9 199,698 77
Infosys Limited 38,812 11,119 7% 35% 27% 3.5 13.1 204,107 54
Cognizant Technology Solutions Corporation 43,817 15,176 10% 38% 21% 2.9 13.9 260,000 58
Accenture plc 104,155 38,574 13% 31% 16% 2.7 16.6 425,000 91
Tata Consultancy Services Limited 105,545 18,660 8% 44% 27% 5.7 21.2 394,998 47
International Business Machines Corporation 167,679 80,056 1% 46% 21% 2.1 10.1 366,600 218
Average 62,981 23,408 7% 36% 20% 2.9 14.6 246,689 96
Median 41,314 15,268 8% 35% 21% 2.6 13.5 232,054 71
share price as of 16Jul18
6
Public Basket Valuation Trends
Public EBITDA Multiples over Time
Public Revenue Multiples over Time
12.4x
2.5x
0x
2x
4x
6x
8x
10x
12x
14x
16x
Oct
-13
Jan
-14
Ap
r-1
4
Jul-
14
Oct
-14
Jan
-15
Ap
r-1
5
Jul-
15
Oct
-15
Jan
-16
Ap
r-1
6
Jul-
16
Oct
-16
Jan
-17
Ap
r-1
7
Jul-
17
Oct
-17
Jan
-18
Ap
r-1
8
Jul-
18
TEV/EBITDA - Median TEV/Revenue - Median
TEV/EBITDA - Average TEV/Revenue - Average
0.0x0.5x1.0x1.5x2.0x2.5x3.0x
Oct
-13
Jan
-14
Ap
r-1
4
Jul-
14
Oct
-14
Jan
-15
Ap
r-1
5
Jul-
15
Oct
-15
Jan
-16
Ap
r-1
6
Jul-
16
Oct
-16
Jan
-17
Ap
r-1
7
Jul-
17
Oct
-17
Jan
-18
Ap
r-1
8
Jul-
18
TEV/Revenue - Median TEV/Revenue - Average
0x
5x
10x
15x
Oct
-13
Jan
-14
Ap
r-1
4
Jul-
14
Oct
-14
Jan
-15
Ap
r-1
5
Jul-
15
Oct
-15
Jan
-16
Ap
r-1
6
Jul-
16
Oct
-16
Jan
-17
Ap
r-1
7
Jul-
17
Oct
-17
Jan
-18
Ap
r-1
8
Jul-
18
TEV/EBITDA - Median TEV/EBITDA - Average
7
Operational Metrics
LTM Gross Profit Margin % LTM EBITDA %
- 10% 20% 30% 40%
Median
Perficient, Inc.
Capgemini SE
Accenture plc
International BusinessMachines Corporation
Cognizant TechnologySolutions Corporation
HCL TechnologiesLimited
Tata ConsultancyServices Limited
Infosys Limited
- 20% 40% 60%
Median
Capgemini SE
Accenture plc
HCL Technologies Limited
Perficient, Inc.
Infosys Limited
Cognizant Technology SolutionsCorporation
Tata Consultancy ServicesLimited
International Business MachinesCorporation
8
Operational Metrics
LTM Revenue Growth %LTM Revenue per
Full Time Employee x 000’s
- 4% 8% 12% 16% 20%
Median
International Business MachinesCorporation
Capgemini SE
Perficient, Inc.
Infosys Limited
Tata Consultancy ServicesLimited
Cognizant Technology SolutionsCorporation
HCL Technologies Limited
Accenture plc
$- $100 $200 $300
Median
Tata Consultancy ServicesLimited
Infosys Limited
Cognizant Technology SolutionsCorporation
HCL Technologies Limited
Capgemini SE
Accenture plc
Perficient, Inc.
International Business MachinesCorporation
9
Operational Metrics
Accounts Receivable TurnoverAverage Days
Sales Outstanding
0x 2x 4x 6x 8x 10x
Median
Tata ConsultancyServices Limited
Capgemini SE
Infosys Limited
HCL Technologies Limited
Cognizant TechnologySolutions Corporation
Perficient, Inc.
Accenture plc
International BusinessMachines Corporation
0 20 40 60 80 100
Median
International BusinessMachines Corporation
Accenture plc
Perficient, Inc.
Cognizant TechnologySolutions Corporation
HCL TechnologiesLimited
Infosys Limited
Capgemini SE
Tata ConsultancyServices Limited
10
Valuation
TEV / LTM Revenue TEV / LTM EBITDA
0x 2x 4x 6x 8x 10x
Median
Capgemini SE
Perficient, Inc.
International BusinessMachines Corporation
HCL TechnologiesLimited
Accenture plc
Cognizant TechnologySolutions Corporation
Infosys Limited
Tata ConsultancyServices Limited
0x 10x 20x 30x
Median
International BusinessMachines Corporation
HCL TechnologiesLimited
Capgemini SE
Infosys Limited
Cognizant TechnologySolutions Corporation
Accenture plc
Perficient, Inc.
Tata ConsultancyServices Limited
11
Valuation
TEV / LTM EBIT Price / LTM Earnings
0x 10x 20x 30x
Median
HCL TechnologiesLimited
International BusinessMachines Corporation
Infosys Limited
Capgemini SE
Cognizant TechnologySolutions Corporation
Accenture plc
Tata ConsultancyServices Limited
Perficient, Inc.
0x 10x 20x 30x 40x 50x
Median
Infosys Limited
International BusinessMachines Corporation
Capgemini SE
Accenture plc
Tata ConsultancyServices Limited
Cognizant TechnologySolutions Corporation
Perficient, Inc.
12
Valuation
Historical Valuation Multiples versus Gross Profit
Historical Valuation Multiples versus Revenue Growth Rate
10x 11x 13x 13x 14x 17x 18x 21x
45.6%
34.3%
26.5%
34.8%
38.3%
31.4% 34.6%
44.2%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0x
5x
10x
15x
20x
25x
LTM
GP
%
EBIT
DA
(x)
EBITDA(x) LTM GP%
10x 11x 13x 13x 14x 17x 18x 21x
0.8%
12.4%
2.0%
7.3%
9.7%
12.8%
4.9%
8.1%
0%
2%
4%
6%
8%
10%
12%
14%
0x
5x
10x
15x
20x
25x
LTM
RG
R%
EBIT
DA
(x)
EBITDA(x) LTM RGR%
13
Recent TransactionsDate Target Buyer / Investor
Total Transaction
Value Target
Revenue TEV /
Revenue TEV /
EBITDA
10Jul18 SWC Technology Partners, Inc. BDO USA, LLP - - - -
28Jun18 RO Innovation, Inc. Qvidian Corporation 14.25 6.00 2.4x -
28Jun18 Sybit GmbH itelligence AG - - - -
12Jun18 Gap Consulting Ltd Incremental Group Limited - - - -
6Jun18 Scribe Software Corporation TIBCO Software Inc. - - - -
5Jun18 Third Wave Consulting Inc. Deloitte Digital - - - -
1Jun18 Information Systems Management, Inc. SWK Technologies, Inc. - - - -
8Apr18 Red Sky Solutions FMT Consultants, LLC - - - -
1Mar18 Sonnick Partners LLC Pamlico Capital - - - -
13Nov17 cDecisions Limited PricewaterhouseCoopers LLP - - - -
20Sep17 Pierry, Inc. Wunderman Limited - 14.50 - -
8Sep17 Apttus Corporation PremjiInvest; International Business Machines Corp., Investment Arm; K1 Investment Management, LLC; ICONIQ Capital, LLC; Salesforce Ventures
- - - -
22Aug17 Summa Technologies, Inc. CGI Group Inc. - - - -
26Jul17 Crma Holdings LLC Virsys12, LLC - - - -
18Jul17 Appiphony, LLC Salesforce Ventures; SI Trailblazer Fund - - - -
18Jul17 PatronManager, LLC Providence Equity Partners LLC - - - -
7Jul17 InfoTrellis Inc. Mastech Digital, Inc. 55.00 22.00 - -
6Jul17 Pendo.io, Inc. Battery Ventures; MeriTech Capital Partners; Core Capital Partners; Spark Capital Partners, LLC; IDEA Fund Partners; Contour Venture Partners; Salesforce Ventures
25.00 - - -
7Jun17 Phase One Consulting Group, Inc. Accenture Federal Services LLC - - - -
15May17 Media Hive Accenture plc - - - -
8May17 Perspectium Corporation TVC Capital, LLC 8.00 - - -
5May17 Terminus Software, LLC Edison Partners; HubSpot, Inc.; Knoll Ventures Inc.; Arthur Ventures; Hyde Park Venture Partners; Vine Street Ventures; Atlanta Ventures; Atlanta Student Fund; High Alpha
10.30 - - -
26Apr17 VanDamme Associates, Inc. Community Brands - - - -
20Apr17 Spanning Cloud Apps, LLC Insight Venture Partners LLC - - - -
12Apr17 Govenda, LLC Digital Evolution Group LLC - - - -
3Apr17 Blue Acorn, LLC Beringer Capital; Beringer Capital Fund III L.P. - - - -
27Mar17 Day1 Solutions LLC Deloitte Digital - - - -
23Mar17 ITELIOS SAS Cap Gemini S.A. (nka:Capgemini SE) - - - -
2Feb17 MapAnything, Inc. Columbus Nova; Greycroft; Harbert Venture Partners, LLC; Salesforce Ventures; ServiceNow Ventures
33.10 - - -
24Jan17 Sequence LLC salesforce.com, inc. 26.00 - - -
20Oct16 Appirio Inc. Wipro Limited 500.00 196.00 2.6x -
4Oct16 ACF Solutions, LLC (nka:ACF Solutions, An Attain Company)
Attain, LLC - - - -
14
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 inconjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. Alldata cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7MSecurities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated asconfidential and for the use of the intended recipient only. Please notify 7 Mile Advisors if it was distributed in error.
Salesforce PartnersJuly 2018
15
Public Basket
Perficient, Inc.
Perficient, Inc. provides information technology and management
consulting services in the United States. The company designs,
builds, and delivers solutions using middleware software
products developed by third-party vendors. Its solutions include
portals and collaboration, such as searchable data systems,
collaborative systems for process improvement, transaction
processing, unified and extended reporting, and other services;
and platform implementations services, including application
server selection, architecture planning, installation and
configuration, clustering for availability, performance assessment
and issue remediation, security, and technology migrations. The
company also offers management consulting services in the
areas of organizational change management, business analytics,
project management, process excellence, and other; and cloud
services comprising architecture, business value and health
checks assessments, strategy and road maps, and vendor
evaluation and selection services. Perficient, Inc. was founded in
1997 and is headquartered in St. Louis, Missouri.
Date Key Development Headline7/15/18 Perficient, Inc. (NasdaqGS:PRFT) acquired Stone Temple
Consulting Corporation.
0x
1x
2x
3x
Revenue Multiples - Perficient, Inc.
TEV/Revenue Average
0x
10x
20x
30x
EBITDA Multiples - Perficient, Inc.
TEV/EBITDA Average
0x
20x
40x
60x
P/E Multiples - Perficient, Inc.
P/E Average
16
Public Basket
HCL Technologies Limited
HCL Technologies Limited provides software, business process
outsourcing, and information technology (IT) infrastructure
services worldwide. The company offers IT infrastructure
management, cloud computing, data center, managed
mainframe and maintenance, network, service integration and
management, and workplace services, as well as autonomics
and orchestration services, products, and platforms. It also
provides digital consulting, application development and platform
engineering, platforms, business analytics, business assurance
and testing, and application maintenance services; SAP
landscape transformation, system conversion, and new
implementations of on-premises and cloud platform solutions;
Oracle business consulting, implementation, upgrades,
managed, and migration services; and Microsoft customer
relationship management, cloud, analytics, infrastructure, and
workplace innovation services. HCL Technologies Limited was
founded in 1976 and is headquartered in Noida, India.
Date Key Development Headline6/26/18 HCL Technologies Limited (NSEI:HCLTECH) signed a definitive
agreement to acquire Hönigsberg & Düvel Datentechnik GmbH
for €30 million.
6/1/18 JDA and HCL Technologies Announce Alliance Agreement for
JDA Commerce, SofTechnics, and PRM Solutions
5/2/18 HCL Seeks Acquisitions
0x
2x
4x
6x
8x
Revenue Multiples - HCL Technologies
Limited
TEV/Revenue Average
0x
5x
10x
15x
20xEBITDA Multiples - HCL Technologies Limited
TEV/EBITDA Average
17
Public Basket
Capgemini SE
Capgemini SE provides consulting, technology, and digital
transformation services. It addresses clients’ opportunities in the
world of cloud, digital, and platforms, as well as enables
organizations to realize business ambitions through an array of
services from strategy to operations. The company’s Consulting
Services segment offers strategy and transformation consulting
services primarily in digital transformation that enhance the
performance of organizations based on intimate client
relationships, and the knowledge of client industries and
processes. Its Technology & Engineering Services segment
provides assistance and support to internal IT teams of client
companies. The company’s Application Services segment
designs, develops, implements, and maintains IT applications,
including system integration and application maintenance
services. Its Other Managed Services segment integrates,
manages, and/or develops client’s IT infrastructure systems, as
well as provides transaction, on-demand, and/or business
process outsourcing services. Capgemini SE was founded in
1967 and is based in Paris, France.
Date Key Development Headline6/21/18 Capgemini Seeks Acquisitions in India
6/6/18 Capgemini SE (ENXTPA:CAP) entered into an agreement to
acquire Leidos Cyber, Inc.
0x
1x
2x
3xRevenue Multiples - Capgemini SE
TEV/Revenue Average
0x
5x
10x
15x
20xEBITDA Multiples - Capgemini SE
TEV/EBITDA Average
0x
6x
12x
18x
24x
30xP/E Multiples - Capgemini SE
P/E Average
18
Public Basket
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.
Date Key Development Headline7/5/18 Infosys Limited Partners with Siemens to Develop Advanced IoT
Engineering Solutions on MindSphere
5/29/18 Infosys Limited (NSEI:INFY) completed the acquisition of
Wongdoody Holding Company, Inc.
5/2/18 Infosys and Astound Partner to Deliver Better Service Experience
Through an AI Enhanced Enterprise Service Management Café
4/18/18 Infosys Mulls Acquisitions
4/13/18 Infosys Seeks Sell Of Panaya and Skava
0x
1x
2x
3x
4x
5xRevenue Multiples - Infosys Limited
TEV/Revenue Average
0x
5x
10x
15x
20xEBITDA Multiples - Infosys Limited
TEV/EBITDA Average
0x
10x
20x
30x
40x P/E Multiples - Infosys Limited
P/E Average
19
Public Basket
Cognizant Technology Solutions Corporation
Cognizant Technology Solutions Corporation, a professional
services company, provides consulting and technology, and
outsourcing services worldwide. The company operates through
four segments: Financial Services; Healthcare; Products and
Resources; and Communications, Media and Technology. It
offers business, process, operations, and technology consulting
services; application design and development, and systems
integration services; application testing, consulting, and
engineering services; and enterprise information management
services. The company was founded in 1994 and is
headquartered in Teaneck, New Jersey.
Date Key Development Headline5/6/18 Cognizant Technology Solutions Eyes Acquisition
5/1/18 Cognizant Technology Solutions Corporation (NasdaqGS:CTSH)
acquired Hedera Consulting BVBA.
4/18/18 Cognizant Technology Solutions Corporation (NasdaqGS:CTSH)
completed the acquisition of Bolder Healthcare Solutions LLC
from Bolder Capital, LLC and The Edgewater Funds.
3/11/18 Cognizant Technology Solutions Corporation (NasdaqGS:CTSH)
agreed to acquire Bolder Healthcare Solutions LLC from Bolder
Capital, LLC and The Edgewater Funds.
11/29/17 Cognizant Technology Solutions Corporation (NasdaqGS:CTSH)
completed the acquisition of Netcentric AG.
0x
2x
4x
6x
8x
10xRevenue Multiples - Cognizant Technology
Solutions Corporation
TEV/Revenue Average
0x
10x
20x
30x
40xEBITDA Multiples - Cognizant Technology
Solutions Corporation
TEV/EBITDA Average
0x
15x
30x
45x
60xP/E Multiples - Cognizant Technology
Solutions Corporation
P/E Average
20
Public Basket
Accenture plc
Accenture plc provides consulting, technology, and outsourcing
services worldwide. Its Communications, Media & Technology
segment provides professional services that help clients
accelerate and deliver digital transformation, and enhance
business results through industry-specific solutions for
communications, media, and high tech industries, as well as for
software platforms. The company’s Financial Services segment
offers services that address profitability pressures, industry
consolidation, regulatory changes, and the need to continually
adapt to new digital technologies. This segment serves clients in
banking, capital markets, and insurance industries. Its Health &
Public Service segment provides research-based insights and
offerings, including consulting services and digital solutions to
help clients deliver social, economic, and health outcomes.
Accenture plc was founded in 1989 and is based in Dublin,
Ireland.
Date Key Development Headline7/11/18 Accenture plc (NYSE:ACN) acquired Kogentix Inc.
6/30/18 Accenture Reportedly Seeks Acquisitions
6/7/18 Accenture plc (NYSE:ACN) entered into an agreement to acquire
designaffairs GmbH.
6/4/18 SAP SE to Team with Accenture, Capgemini and Deloitte to
Accelerate Customer Adoption of SAP S/4Hana(R) Cloud in
Target Industries
5/22/18 Accenture plc (NYSE:ACN) agreed to acquire HO
Communication.
0x
1x
2x
3x
4xRevenue Multiples - Accenture plc
TEV/Revenue Average
0x
5x
10x
15x
20x
25x
30xEBITDA Multiples - Accenture plc
TEV/EBITDA Average
0x
15x
30x
45xP/E Multiples - Accenture plc
P/E Average
21
Public Basket
Tata Consultancy Services Limited
Tata Consultancy Services Limited provides information
technology (IT) and IT enabled services worldwide. The
company offers CHROMA, a cloud-based talent management
solution that enables organizations to drive transformational
employee experiences; ignio, a cognitive automation system;
iON, an assessment solution; TAP, a cloud solution, including
TAP contract management, purchasing, accounts payable, and
supplier management solutions; and TCS MasterCraft, a digital
platform to automate and manage IT processes. It also provides
customer intelligence and insight solutions to deliver
personalized retail, banking, and communications experiences;
Intelligent Urban Exchange, an enterprise software to accelerate
smart city transportation, water, and energy programs for cities;
OPTUMERA, a digital merchandising suite. Tata Consultancy
Services Limited is a subsidiary of Tata Sons Limited.
Date Key Development Headline6/19/18 NCR Corporation and Tata Consultancy Services Limited Enter
into Strategic Alliance
6/15/18 TCS Seeks Acquisitions
4/22/18 Tata Consultancy Services Open To Acquisitions In Digital Space
3/5/18 Virgin Atlantic Extends Strategic Partnership with Tata
Consultancy Services Limited
10/26/17 Tata Consultancy Services and ACORD Collaborate on Digital
Transformation Enhancements for the Insurance Industry
0x
2x
4x
6x
8x
10xRevenue Multiples - Tata Consultancy
Services Limited
TEV/Revenue Average
0x
10x
20x
30x
40xEBITDA Multiples - Tata Consultancy
Services Limited
TEV/EBITDA Average
0x
10x
20x
30x
40x
50xP/E Multiples - Tata Consultancy Services
Limited
P/E Average
22
Public Basket
International Business Machines Corporation
International Business Machines Corporation operates as an
integrated technology and services company worldwide. Its
Cognitive Solutions segment offers Watson, a cognitive
computing platform that interacts in natural language, processes
big data, and learns from interactions with people and
computers. This segment also offers data and analytics
solutions, including analytics and data management platforms,
cloud data services, enterprise social software, talent
management solutions, and solutions tailored by industry; and
transaction processing software that runs mission-critical
systems in banking, airlines, and retail industries. International
Business Machines Corporation was founded in 1911 and is
headquartered in Armonk, New York.
Date Key Development Headline7/16/18 IBM, Banca Carige Launches Dock a USD 500 Million US Joint
Venture
6/14/18 International Business Machines Corporation (NYSE:IBM)
acquired Oniqua Pty Ltd. from ASCO Holdings Limited.
6/7/18 Intellect Design Arena Limited and International Business
Machines Corporation to Deliver Seamless Digital Transformation
Transformation to the Large Banks with IBM Cloud
4/26/18 Host Hotels & Resorts, Inc. Announces Joint Development
Agreement with IBM Research
2/22/18 Industrial Realty Group, LLC completed the acquisition of the
Rochester, Minnesota technology campus of International
Business Machines Corporation (NYSE:IBM) for $33.9 million.
0x
1x
2x
3x
4x
5x
Revenue Multiples - International Business
Machines Corporation
TEV/Revenue Average
0x
6x
12x
18x
24x
30x
EBITDA Multiples - International Business
Machines Corporation
TEV/EBITDA Average
0x
10x
20x
30x
40x
50x
P/E Multiples - International Business
Machines Corporation
P/E Average
23
Contact Information7MA 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.
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]
Sydney Larese, Associate 704.899.5960 [email protected]
Marty Johnson, Associate 704.899.5960 [email protected]
Rory Julyan, Associate 704.899.5960 [email protected]
Garth Martin, Associate 704.899.5960 x 109 [email protected]
Chevonese Dacres, Analyst 360.499.1502 [email protected]