NASDAQ 5,836.16 9.8% 21.4% ECHNOLOGY ARKET PDATE · mergers & acquisitions • capital raises •...

MERGERS & ACQUISITIONS • CAPITAL RAISES • FINANCIAL & STRATEGIC ADVISORY

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HR TECH TRADING MULTIPLES

MAJOR INDICES & RATES

HR TECH NEWS & TRENDS

HR TECHNOLOGY MARKET UPDATE – Q1 2017

Google Pushing into HR Tech

Launched Cloud Jobs API and Google Hire website

Testing an applicant tracking system

Offer rejected to acquire Namely

Team Centric Software Applications

Emergence of team-centric software applicationsaddressing team collaboration and productivity andcontinuous performance management

Collaboration software applications include Slack,Workboard, Trello, Asana, Wrike, BetterWorks, 15Five,Basecamp and Rallyteam

ADP acquired The Marcus Buckingham Company, a nextgeneration employee engagement and performancesoftware

Atlassian acquired Trello, a project management softwarewith 19 million users, for $425 million

People Analytics

Analytics is becoming a core part of software solutions

Artificial Intelligence emerging in HR, for example,Firstjob applying AI to recruitment and candidateassessment process

Workday’s recent acquisition of Platfora is focused onexpanding analytics capabilities

IBM is investing heavily in the development of theWatson-based Talent Insights platform

Talent Acquisition

Massive $240 billion market covering candidate sourcing,job posting, employer branding, matching, assessing,onboarding and tracking

HR departments seeking solutions to reduce the averagetime of 52 days to fill a new job

Gig Economy

Google now has equal number of outsourced workers tofull time employees

Companies hiring test is now “Can I automate it,outsource it, or give it to a freelancer”

CHILDS is hosting its annual CHILDSConnect conference on Tuesday, May16, 2017 at the St. Regis in Atlanta. It will feature panel and roundtablediscussions led by software executives and investors on hot topics, M&Aand capital raising in HR tech. Click here to register today.

CHILDS TEAM RECENT HR M&A

CHILDS advises PharmaLogics Recruiting

We served as exclusive financial advisor to this recruitingsolutions provider for the life sciences industry in itsrecapitalization by Webster Capital

% Change

3 Month 12 Month

HR Tech Composite (CHILDS) 54,476.95 7.5% 11.4%

HR Outsourcing (CHILDS) 70,291.40 1.8% 6.9%

Dow Jones 20,591.86 4.6% 16.8%

NYSE 11,423.17 3.9% 12.6%

NASDAQ 5,836.16 9.8% 21.4%

AMEX 2,553.48 8.8% 11.9%

S&P 500 2,344.93 5.5% 14.7%

Russell 2000 1,359.20 2.1% 24.4%

USD/Euro 0.94 (1.3%) 6.5%

USD/Yen 111.50 (4.5%) (0.8%)

USD/Pound 0.80 (1.4%) 15.0%

U.S. Prime Rate 4.000% 25.00 Bps 50.00 Bps

U.S. Treasury - 10 Year 2.400% (5.00 Bps) 62.00 Bps

LIBOR - 3 month 1.150% 15.17 Bps 52.10 Bps

Fed Funds Overnight Rate 0.820% 47.00 Bps 57.00 Bps

Close as of

3/31/2017

Enterprise Value

LTM Revenue LTM EBITDA

HR Tech 4.09x 20.1x

HR Outsourcing 2.43x 13.2x

http://ity.vc/childsconnectregistration

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CHILDS Advisory Partners

HR TECH NOTABLE TRANSACTIONS

-CAPITAL RAISE-

Offers HR resources, benefits, and technology to small businesses

through an online platform

Transaction Date: 3/30/17

Investment Size: $60mm

Total Raised: $60mm in 1 round

Investors:

-ACQUISITION-

SaaS-based talent management software solutions

Transaction Date: Pending

Total EV: $175mm

Key Metrics:

‒ Target Rev: $72mm

‒ Target EBITDA: $6mm

‒ EV/Rev: 2.4x

‒ EV/EBITDA: 27.5x

-ACQUISITION-

HR SaaS that connects job seekers and employers


Total EV: ND (>$1bn)

Key Metrics:

‒ Target Rev: ND

‒ Target EBITDA: ND

‒ EV/Rev: ND

‒ EV/EBITDA: ND

-ACQUISITION-

Web and mobile-based collaboration platform


Total EV: $425mm

Key Metrics:

‒ Target Rev: ND

‒ Target EBITDA: ND

‒ EV/Rev: ND

‒ EV/EBITDA: ND

Seller Financial Sponsors:

-CAPITAL RAISE-

Operates an online portal to help students find jobs and internships



Total Raised: $28mm in 4 rounds

Representative Investors:

-CAPITAL RAISE-

Cloud-based workforce intelligence platform for recruitment,

retention, and development



Total Raised: $92mm in 4 rounds

Representative Investors:

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Year Quarter Buyer TargetEnterprise Value ($M)

Announced GTCR CareerBuilder $1,000

Announced Saba Software, Inc. Halogen Software Inc. (TSX:HGN) $175

Announced Pivot Software Remesys Pty Ltd ND

Announced Compunnel Software Group, Inc. Jobhuk, Inc. ND

Announced Engage: BDR Inc. Tiveo, LLC [dba mydiveo] $7

2017 Q2 Renovo Capital, LLC Global HR Research, LLC $30

2017 Q2 Gartner, Inc.. (NYSE:IT) CEB (Corporate Executive Board) $3,540.7

2017 Q1 Summit Partners Ascentis ND

2017 Q1 Atlassian Trello $425

2017 Q1 ADP Marcus Buckingham ND

2017 Q1 SmartRecruiters Jobspotting ND

2017 Q1 PeopleNet, Inc. Fyre ND

2017 Q1 PSI Services LLC Performance Assessment Network, Inc. $110

2017 Q1 RIVS, Inc. InterviewStream, Inc. ND

2017 Q1 Kronos Incorporated Financial Management Solutions, Inc. ND

2017 Q1 Asure Software, Inc. (NasdaqCM:ASUR) Corporate Payroll Inc. $3

2016 Q4 Roper Technologies, Inc. (NYSE:ROP) Deltek, Inc. [Thoma Bravo; Prospect Capital] $2,800

2016 Q4 Halyard CapitalStrategy Execution Partners LLC [dba StratEx Partners]

ND

2016 Q4 Mercer LLC Thomsons Online Benefits Limited [ABRY; Veronis] ND

2016 Q4 Reward Gateway (UK) Ltd. [Great Hill Partners] LogBuy Limited ND

2016 Q4 Nexonia Inc. Tallie Inc. ND

2016 Q4 Origami Risk LLC Claimwire, LLC ND

2016 Q4 IQNavigator, Inc. [GTCR] Beeline.com, Inc. [Adecco] $130

2016 Q4 First Republic Bank (NYSE:FRC) Gradifi, Inc. ND

2016 Q4 Leeds Equity Partners, LLCBusiness and Legal Resources, Inc. [dba BLR] [Resolute Capital Partners]

ND

2016 Q4VectorLearning.com, Inc. [LLR Partners; Providence Equity Partners]

Learnsmart LLC ND

2016 Q4 Microsoft Corporation (NasdaqGS:MSFT) LinkedIn Corporation $26,191

2016 Q4 Yoh Services LLC DreamJobs Inc. ND

RECENT HR TECHNOLOGY M&A TRANSACTIONS

4


Year Quarter Representative Investors CompanyCurrent Raise

($M)

Announced Great Hill Partners Reflexis ND

2017 Q1Two Sigma Investments; Edgewood Partners Insurance Center

Decisely $60

2017 Q1Trinity Ventures, General Catalyst, BoxGroup, Lerer-Hippeau Ventures, Index Ventures, SV Angel

WayUp $19

2017 Q1 Keen Venture Partners Beekeeper $8

2017 Q1DRW Ventures; FJ Labs; GGV Capital; KWDC Ventures

Shiftgig, Inc. $20

2017 Q1 Updata Jellyvision $20

2017 Q1Sorenson Capital, Foundational Capital, Summit Partners, Adam Street Partners

Visier $45

2017 Q1 Canopy San Diego MJ Hybrid Solutions, Inc. $0

2017 Q1 Summit Partners LLP Ascentis Corporation -

2017 Q1 Diagram Collage Technologies Inc. $4

2017 Q1 OpenView Deputy $25

2017 Q1 500 Startups Boon Company, Inc. $0

2017 Q1Edison Partners; NorthCap Partners; Cultivation Capital; Chicago Ventures; Mission Operators Group

Gan Integrity Inc. $9

2017 Q1 Adecco Group AG (SWX:ADEN) Talentoday Inc. $3

2017 Q1Mohr Davidow Ventures; iNovia Capital; Nokia Growth Partners; Greycroft Partners LLC; Georgian Partners; RTP Ventures

WorkFusion, Inc. $35

2017 Q1 Cosmic Forward LtdProfessional Diversity Network, Inc. (NasdaqCM:IPDN)

$3

2017 Q1 Temp Holdings Co., Ltd., Investment Arm Wonolo Inc. -

2017 Q1 Slack Technologies, Inc., Investment Arm WorkRamp, Inc. -

2016 Q4Altimeter Capital; Matrix Partners; Sequoia Capital; Scale Venture Partners; True Ventures

Namely Inc. $50

2016 Q4Y Combinator; Initialized Capital Management, LLC; Susa Ventures; Liquid 2 Ventures

WorkRamp, Inc. $2

2016 Q4 Spectrum Equity Management, L.P. Tenstreet Inc. -

2016 Q4CanopyBoulder; Poseidon Asset Management; The Arcview Group

Surface Solutions $1

2016 Q4 Serent Capital Digital Architecture Group -

2016 Q4 Syven Capital Kinexxia -

2016 Q4 JMI Equity; BDC Venture Capital Axonify $27

2016 Q4 Glenmede Trust; Ontario Pension Board Hired $70

RECENT HR TECHNOLOGY CAPITAL RAISES

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EV/Revenue

M&A ACTIVITY AND TRENDS


EV/Revenue

SOFTWARE M&A VALUATIONS

Sources: Capital IQ, Gartner, Forrester, CHILDS proprietary database

U.S. MIDDLE MARKET SOFTWARE M&A ACTIVITY – QUARTERLY TRENDS

Deal Count 392 401 426 432 445 513 484 503 529 500 492 516 478 465 396 410 432

% Δ N/A 2% 6% 1% 3% 15% (6%) 4% 5% (5%) (2%) 5% (7%) (3%) (15%) 4% 5%

The U.S. middle market software industry, which wedefine as deals less than $1 billion in enterprise value,saw 432 deals announced in the Q1 2017, whichrepresents a 5% increase over the previous quarter anda 10% decrease from the same period last year

The average EV/Revenue multiple for middle marketsoftware deals with disclosed valuation metrics hasdecreased slightly through the first quarter of 2017, butit remains relatively consistent with recent trends atapproximately 2.2x revenue

Valuations of publicly traded HR Tech companies alsoremained relatively consistent at 4.1x EV/Revenue

Despite some uncertainty in the market surroundingmacroeconomic conditions such as the shifting U.S.monetary policy and possible healthcare, tax, and tradepolicy reform, high levels of liquidity are expected todrive robust M&A activity in 2017

― Strategic buyers have record high cash balanceson their balance sheets

― The number of private equity funds and theamount of dry powder which needs to be put towork is at record highs

― The debt markets have remained strong andseen little impact from the modest interest ratehike by the Federal Reserve in March

― The large amount of un-invested capital andaccess to debt financing will support strongdeal volume and valuations as acquisitiontargets attract greater competition from buyers

SOFTWARE PUBLIC MARKET VALUATIONS

5.0x5.3x

4.2x4.7x

5.8x

4.4x4.0x

5.1x

4.2x4.2x

5.8x

4.1x

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

6.0x

7.0x

Enterprise Software SaaS HR Tech

Q2 2016 Q3 2016 Q4 2016 Q1 2017

302 313 336 307 321

384 363 380 405

377 381 387 373 373 339 332

376

74 75 78

97 98

107 98

97 105

104 84 102

84 72

38 53

42 12 11

10 24 22

16 17

19

15 15

18 20

18 15

14 17 10 4 2

2 4 4

6 6

7 4

4 9

7

3 5

5 8 4

200

250

300

350

400

450

500

550

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17

Dea

l Vo

lum

e

Undisclosed Less than $100M $100M - $499M $500M - $1,000M

2.43x

2.49x 2.48x

2.27x

2.34x

2.22x

2.05x

2.10x

2.15x

2.20x

2.25x

2.30x

2.35x

2.40x

2.45x

2.50x

2.55x

2012 2013 2014 2015 2016 2017 YTD

6


HR TECHNOLOGY PUBLIC TRADING STATISTICS

Sources: Capital IQ, CHILDS proprietary database* Denotes figure excluded from mean calculation

HR TECHNOLOGY

HRO (HUMAN RESOURCES OUTSOURCING)

(USD in millions, except for stock price)

(USD in millions, except for stock price)

DATES EVENT LOCATION

Apr 19 – Apr 21 Health & Benefits Leadership Conference Las Vegas, NV

May 7 – May 10 2017 Total Rewards Conference & Exhibition Washington, DC

Mary 16 – May 20 35th Annual American Payroll Association Congress Orlando, FL

May 21 – May 24 Association for Talent Development 2017 Congress Atlanta, GA

Jun 18 – Jun 21 SHRM Annual Conference & Expo New Orleans, LA

Oct 10 – Oct 13 HR Technology Conference & Exposition Las Vegas, NV

HCM CONFERENCES [1]

[1]: Green font represents planned attendance by CHILDS Advisory Partners

Market Data Operating Statistics EV as a Multiple of: Growth

Stock Price LTM LTM CY2017 16 - '17

Company Name 3/31/17 Revenue EBITDA % Margin Revenue EBITDA Revenue EBITDA GrowthAverage

Paychex, Inc. $58.90 93.4% $21,159.7 $20,811.2 $3,106.6 $1,337.7 43.1% 6.70x 15.6x 5.97x 13.7x 6.0% 8.0%

Workday, Inc. 83.28 89.2% 16,905.8 15,443.5 1,569.4 (273.8) (17.4%) 9.84x * NM * 6.11x 40.4x * 29.5% 49.6%

The Ultimate Software Group, Inc. 195.21 87.1% 5,789.9 5,709.7 781.3 67.6 8.7% 7.31x * 84.5x * 5.15x 20.8x 24.1% 23.9%

Paycom Software, Inc. 57.51 99.6% 3,420.3 3,389.9 329.1 68.0 20.7% 10.30x * 49.8x * 6.48x 22.5x 29.1% 44.5%

WageWorks, Inc. 72.30 89.8% 2,681.8 2,252.3 364.7 64.3 17.6% 6.18x 35.0x * 4.17x 13.5x 31.0% 18.5%

Cornerstone OnDemand, Inc. 38.89 81.4% 2,203.4 2,139.7 423.1 (46.3) (10.9%) 5.06x NM * 3.57x 22.7x 13.6% 31.7%

Paylocity Holding Corporation 38.63 77.8% 1,987.0 1,904.8 264.1 7.1 2.7% 7.21x * 267.6x * 4.58x 28.4x 26.6% 40.5%

Callidus Software Inc. 21.35 99.1% 1,360.6 1,175.9 206.7 (7.2) (3.5%) 5.69x NM * 3.73x 27.3x 18.7% 22.5%

Benefitfocus, Inc. 27.95 62.1% 858.5 900.4 233.3 (21.5) (9.2%) 3.86x NM * 2.86x 31.2x 13.8% 30.6%

HealthStream, Inc. 24.23 84.0% 770.0 666.8 226.0 21.0 9.3% 2.95x 31.5x 2.33x 15.1x 10.7% 19.5%

Halogen Software Inc. 9.33 95.0% 199.4 161.8 72.3 6.4 8.8% 2.22x 25.3x 1.93x 14.9x 7.5% 14.6%

DHI Group, Inc. 3.95 46.9% 199.1 260.9 227.0 47.1 20.7% 1.15x 5.5x 1.19x 5.0x (3.3%) 2.1%

Asure Software, Inc. 10.28 79.1% 88.7 106.0 35.5 4.7 13.1% 2.98x 22.7x 1.99x 9.7x 28.5% 11.7%

Mean 83.4% $603.0 $98.1 8.0% 4.09x 20.1x 3.85x 18.7x 18.1% 24.5%

Median 87.1% $264.1 $7.1 8.8% 3.86x 22.7x 3.73x 17.9x 18.7% 22.5%

3 Year

Rev CAGR

% of 52

Week HighMarket Cap.

Enterprise

Value

Market Data Operating Statistics EV as a Multiple of: Growth

Stock Price LTM LTM CY2017 16 - '17

Company Name 3/31/17 Revenue EBITDA % Margin Revenue EBITDA Revenue EBITDA GrowthAverage

Automatic Data Processing, Inc. $102.39 97.3% $45,963.1 $45,219.4 $12,051.0 $2,733.1 22.7% 3.75x 16.5x 3.40x 15.5x 5.5% 3.8%

Willis Towers Watson Public Limited Company130.89 98.1% 17,739.2 20,903.2 7,778.0 1,489.0 19.1% 2.69x 14.0x 2.44x 9.7x 1.4% 28.9%

Capita plc 7.07 51.3% 4,704.2 7,628.8 6,061.3 770.3 12.7% 1.24x 9.7x 1.23x 8.7x (0.6%) 8.0%

51job, Inc. 36.66 96.7% 2,203.6 1,510.2 336.8 97.2 28.9% 4.48x 15.5x 3.84x 10.9x 17.6% 13.3%

TriNet Group, Inc. 28.90 95.8% 1,973.0 2,248.0 3,060.3 152.9 5.0% 0.73x * 14.7x 0.57x * 9.5x 9.7% 23.0%

Insperity, Inc. 88.65 97.9% 1,861.7 1,678.3 2,941.3 120.0 4.1% 0.57x * 14.0x 0.45x * 8.7x 12.0% 9.2%

CBIZ, Inc. 13.55 95.1% 729.6 918.9 799.8 87.9 11.0% 1.15x 10.5x 1.08x 8.6x 6.2% 5.7%

Barrett Business Services, Inc. 54.62 81.6% 396.1 344.2 840.6 32.2 3.8% 0.41x * 10.7x NM * NM * NM 27.2%

Connecture, Inc. 1.07 33.0% 24.2 102.4 81.9 (14.5) (17.7%) 1.25x NM * ND * ND * NM 12.0%

Mean 83.0% $3,772.3 $607.6 10.0% 2.43x 13.2x 2.40x 10.2x 7.4% 14.6%

Median 95.8% $2,941.3 $120.0 11.0% 1.97x 14.0x 2.44x 9.5x 6.2% 12.0%

% of 52

Week HighMarket Cap.

Enterprise

Value

3 Year

Rev CAGR

7

(30.0%)

(20.0%)

(10.0%)

0.0%

10.0%

20.0%

30.0%

40.0%

HR Tech HRO (Human Resources Outsourcing) S&P 500


STOCK MARKET FUNDAMENTALS

HR Tech: ASUR, BNFT, CALD, CSOD, DHX, HGN, HSTM, PAYX. WAGEHR Outsourcing: ADP. CBZ, CNXR, CPI, JOBS, WLTW

HR SECTOR INDICES VS. S&P 500

VALUATION TREND DATA (EV/LTM REVENUE)

26.5%

19.0%

12.2%

4.1x

2.4x

3 mos. 12 mos. 3 yrs

S&P 500 5.8% 15.0% 26.5%

HR Tech 7.5% 11.4% 19.0%

HRO 1.8% 6.9% 12.2%

1.0x

1.5x

2.0x

2.5x

3.0x

3.5x

4.0x

4.5x

5.0x

HR Tech HRO (Human Resources Outsourcing)

1 mo. 12 mos. 3 yrs

HR Tech 4.2% 8.1% 11.8%

HRO 1.4% (22.0%) (27.2%)

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FIRM OVERVIEW

MERGERS & ACQUISITIONS

CAPITAL RAISESFINANCIAL &

STRATEGIC ADVISORY

CHILDS ADVISORY PARTNERS’ SERVICES

39 professionals across four offices in the U.S. with headquarters in Atlanta

55 total transactions closed since the beginning of 2014 with 26 in the technology space

Over 450 transactions completed in the middle market (Enterprise Value less than $1.0 billion)

60% transactions since 2013 have involved a strategic buyer; 40% a financial sponsor

QUICK FACTS

2016 U.S. Boutique Investment Bank of the Year

2016 Ranked #1 by 451 Group for IT Services transactions in the U.S.

2014 Cross-Border Transaction of the Year Finalist

2014 Professional Services Transaction of the Year Finalist

2013 Strategic Acquisition of the Year Winner

2013 U.S. Boutique Investment Bank of the Year Finalist

ACCOLADES

CORE COVERAGE

Process Outsourcing

Human Capital

Industrial Services

BUSINESS

SERVICESHEALTHCARE TECHNOLOGY

IT Professional Services

Software

Recruiting

Onboarding

Talent

Workforce

Analytics

Compliance

Human Resources

Healthcare

Marketing

Vertical SaaS

Data & Analytics

SOFTWARE HR TECH

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TEAM’S EXTENSIVE EXPERIENCE IN HR TECHNOLOGY

Sell-Side Advisory On-demand workforce optimization solutions that monitor transitions, analyze metrics,

and automate deployment processes

People Business Network (PBN)

Recapitalization Advisory WFM consulting services and analytics software to the retail, healthcare, manufacturing

and public sector industries

Sell-Side Advisory Research and consulting services focused on assessment and development of leaders

Buy-Side Advisory Job application evaluation and suitability software solutions

Sell-Side Advisory Leading provider of Workday consulting services and the first acquisition in the

ecosystem

Recapitalization Advisory End-to-end talent management software solutions exclusively for healthcare organizations

Recapitalization Advisory SaaS-based provider of workforce management solutions with a focus on time &

attendance

Sell-Side Advisory Provider of integrated talent acquisition solutions such as MSP, VMS, payroll, and

recruitment process outsourcing

Buy-Side Advisory Leading automated employment and salary verification service provider

Buy-Side Advisory Workforce planning, scheduling, and management solutions

Buy-Side Advisory Provider of unemployment tax compliance, employment verification, unemployment

claims administration, and international employment tax services

Buy-Side Advisory SAP and SuccessFactors partner in North America specializing in HCM consulting services

Sell-Side Advisory Oracle/PeopleSoft consulting services to the healthcare and state/local industries

Sell-Side Advisory Provider of pre-hire and post-hire talent assessments

Undisclosed Financial Sponsor

Capital Raise Leading HR & finance consultancy with a focus on deploying Workday and other cloud-

based software solutions

Sell-Side Advisory Provides recruitment process outsourcing services to the life sciences industry

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CHILDS’ HR TECHNOLOGY TEAM

CHILDS Advisory Partners | 3438 Peachtree Road, Suite 1400 Phipps Tower | Atlanta, GA 30326 | 404.751.3000 | www.childsadvisorypartners.com

CHILDS OFFERS THE SENIOR LEVEL ATTENTION AND ADVISORY FOCUS OF A BOUTIQUE FIRM

COUPLED WITH BANKERS WITH BULGE BRACKET EXPERIENCE

\

Former Corporate Development executive for two S&P 500 companies, Equifax and Waste Management

CEO of private equity backed business called Bagster sold to strategic Fortune 500

12 years of investment banking experience with Citigroup and Bank of America with over 80 M&A and capital markets transactions

MBA from Kellogg School at Northwestern University (Beta Gamma Sigma) and BA from UNC Chapel Hill (Phi Beta Kappa)

Co-founder of Bulger Capital Partners

Co-head of East Coast Services and Software for Needham & Company

18 years of investment banking experience executing M&A transactions and raising capital

MBA from F.W. Olin School of Business at Babson College and a BA from Hobart College

7 years of investment banking experience with Morgan Stanley and KPMG

Executed 15 M&A and capital markets transactions (over $15 billion in value)

MBA from Darden School of Business at the University of Virginia and undergraduate from the University of Virginia

Scott RhodesManaging [email protected]

Tom DonahueManaging [email protected]

Justin BentleyVice [email protected]

8 years of investment banking experience

Current and past clients include companies such as Nexus, Bear Data, Aggressor and Utopia

Former investment banker at SunTrust Robinson Humphrey

Graduated cum laude from Washington & Lee University

Steve CarrVice President [email protected]

Former M&A investment banker at SunTrust Robinson Humphrey

Prior to joining SunTrust, Mr. Silverman was an analyst in the technology group at Canaan Partners, a venture capital firm based in California

M.A.c.c. and B.B.A. from the University of Georgia

CPA earned in 2013

Kenny [email protected]

7 years of investment banking experience

Current and past clients include companies such as Peoplenet Channelinsight, McKinnis, Aggressor, FineLine Technologies, and Solstice Mobile

Graduated cum laude from the University of Georgia

R.B. McCutcheonVice President [email protected]

NASDAQ 5,836.16 9.8% 21.4% ECHNOLOGY ARKET PDATE · mergers & acquisitions • capital raises •...

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Transcript of NASDAQ 5,836.16 9.8% 21.4% ECHNOLOGY ARKET PDATE · mergers & acquisitions • capital raises •...