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DIGITAL SERVICES
Q3 2016 MARKET REVIEW
STRICTLY PRIVATE AND CONFIDENTIAL
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1,000+ BUYERS
AND
INVESTORS
SECTOR-LED SPECIALISTS IN M&A AND FUNDRAISING
250+ YEARS’
EXPERIENCE
YEARS OF
RI DEALS
3 SECTORS TOTAL DEALS DEALS IN
PAST 2 YEARS
20+250+
100%
25
10
NATIONALITIES
40 PEOPLE 3 OFFICES REFERENCEABLE
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WELCOME TO THE Q3 2016 EDITION OF THE DIGITAL
SERVICES MARKET REVIEW
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RESULTS INTERNATIONAL DIGITAL SERVICES ECOSYSTEM
DIGITAL
SERVICES
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RESULTS INTERNATIONAL GLOBAL DIGITAL SERVICES
INDICESLA
ST
12 M
ON
TH S
HA
RE P
RIC
E P
ER
FO
RM
AN
CE
Q3 2016 PERFORMANCE
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9.8 x
8.6 x
1.5 x1.4 x
15.6%14.9%
7.5% 7.7%
DIGITAL SERVICES: PUBLIC COMPANY VALUATION
BENCHMARKS
REVENUE GROWTH (2016-17E) EV / REVENUE 2016E
EBITDA MARGIN 2016E EV / EBITDA 2016E
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DIGITAL SERVICES: SELECTED DEALS IN Q3 2016 –
DATA & ANALYTICS
DATE BUYER TARGET EV ($M)EV/ (1)
REVENUEEV/EBITDA COMPANY DESCRIPTION
TARGETLOCATION
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DIGITAL SERVICES: SELECTED DEALS IN Q3 2016 -
STRATEGY, UX, DESIGN & BUILD
DATE BUYER TARGET EV ($M)EV/ (1)
REVENUEEV/EBITDA COMPANY DESCRIPTION
TARGETLOCATION
Great Apes
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DATE BUYER TARGET EV ($M)EV/ (1)
REVENUEEV/EBITDA COMPANY DESCRIPTION
TARGETLOCATION
DIGITAL SERVICES: SELECTED DEALS IN Q3 2016 -
BESPOKE SOFTWARE DEVELOPMENT & SYSTEMS INTEGRATION
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DATE BUYER TARGET EV ($M)EV/ (1)
REVENUEEV/EBITDA COMPANY DESCRIPTION
TARGETLOCATION
DIGITAL SERVICES: SELECTED DEALS IN Q3 2016 -
ECOMMERCE
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DIGITAL SERVICES: SELECTED DEALS IN Q3 2016 -
ENTERPRISE MOBILITY & APP DEVELOPMENT
DATE BUYER TARGET EV ($M)EV/ (1)
REVENUEEV/EBITDA COMPANY DESCRIPTION
TARGETLOCATION
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OPERATING METRICS VALUATION METRICS
PRICE % OF 52 MARKET TOTAL NET ENTERPRISE REVENUE REV. GROWTH GROSS MARGIN REVENUE EBITDA
COMPANY (30-SEP-16) WEEK HIGH CAP CASH DEBT VALUE CY2016 CY16-17 HISTORICAL CY2016 CY2017 CY2016 CY2017 CY2016 CY2017
IT / CONSULTING SERVICES
EBITDA MARGIN
DIGITAL SERVICES: SELECTED PUBLICLY TRADED COMPANIES -
IT / CONSULTING SERVICES
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OPERATING METRICS VALUATION METRICS
PRICE % OF 52 MARKET TOTAL NET ENTERPRISE REVENUE REV. GROWTH GROSS MARGIN REVENUE EBITDA
COMPANY (30-SEP-16) WEEK HIGH CAP CASH DEBT VALUE CY2016 CY16-17 HISTORICAL CY2016 CY2017 CY2016 CY2017 CY2016 CY2017
MARKETING COMMUNICATIONS
EBITDA MARGIN
DIGITAL SERVICES: SELECTED PUBLICLY TRADED COMPANIES -
MARKETING COMMUNICATIONS
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GET IN TOUCH
PARTNER – LONDON PARTNER – NEW YORKPARTNER – LONDON PARTNER – NEW YORK PARTNER – APAC & MENA