Red-hot inflation hit a 40-year high of 9.1% in June combined with two quarters of GDP contraction resulting in a technical recession. In response, the Federal Reserve has further raised key interest rates by 0.75%, helping to push the S&P 500 into bear market territory. As software public market performance continues to slide, investors seek to be more scrutinous of opportunities, shifting focus to profit over growth.
Madison Park Group actively monitors public equity market activity across a range of technology sectors. In our Q2 2022 Software & Technology Public Market Update Report readers will find market and financial data relevant to a range of critical sectors.
Market sentiment in H1 2022 was dictated by inflation and falling public markets, however the core growth-stage tech capital markets remain intact as unprecedented dry powder availability continues to enable deals to get done. Despite the valuation pullback relative to 2020 and 2021, deal volume is still in line or ahead of pre-pandemic levels as the market for quality assets persists.
ESG Meets FinTech – A Strategic Analysis Executive SummaryMEDICI Inner Circle
MEDICI’s new ‘ESG Meets FinTech – A Strategic Analysis’ covers the impact of financial technology on Environmental, Social, and Governance (ESG) criteria. It analyzes the various dimensions of ESG and sustainability in the context of FinTech.
Bcg cii report - one consumer, many interactions - december 2018Social Samosa
The report highlights the massive, unparalleled change the media and entertainment industry is going through, with the exponential growth of media and type of content available creating a trillion customer touch points.
Booz Allen Hamilton and Market Connections: C4ISR Survey ReportBooz Allen Hamilton
Booz Allen Hamilton partnered with government market research firm Market Connections, Inc. to conduct the survey of military decision-makers. The research examined the main features of Integrated C4ISR through Enterprise Integration: engineering, operations and acquisition. Two-thirds of respondents (65 percent) agree agile incremental delivery of modular systems with integrated capabilities can enable rapid insertion of new technologies.
- Sansan Group provides business database and digitization services that aim to transform how companies work.
- Its flagship Sansan service has grown steadily since 2007 and now has the largest market share in Japan. Bill One, a cloud-based invoice management solution launched in 2020, is rapidly expanding.
- The presentation outlines Sansan Group's mission and vision, provides an overview of its business segments and services, and presents financial results and medium-term targets, demonstrating continued growth.
Payments
Lending
Insurance
Wealth
Management
Digital
Banking
E-wallets
Buy Now Pay Later
Micro Insurance
Robo Advisory
Neo Banks
Mobile Money
Personal Loans
Health Insurance
Digital Assets
Branchless Banking
Digital Remittance
SME Loans
Life Insurance
Digital
Banking
Digital Payments
Digital Lending
Digital Insurance
Digital Wealth
Digital Banking
E-commerce Payments
Invoice Financing
Crop Insurance
P2P Lending
Micro Factoring
Sup
Digital 2022 Sierra Leone (February 2022) v01DataReportal
All the data, statistics, and trends you need to make sense of digital in Sierra Leone in 2022. Includes the latest reported numbers for internet users, social media users, and mobile connections in Sierra Leone, as well as key indicators of ecommerce use. For more reports, including the latest global trends and individual data for more than 230 countries around the world, visit https://datareportal.com/
Market sentiment in H1 2022 was dictated by inflation and falling public markets, however the core growth-stage tech capital markets remain intact as unprecedented dry powder availability continues to enable deals to get done. Despite the valuation pullback relative to 2020 and 2021, deal volume is still in line or ahead of pre-pandemic levels as the market for quality assets persists.
ESG Meets FinTech – A Strategic Analysis Executive SummaryMEDICI Inner Circle
MEDICI’s new ‘ESG Meets FinTech – A Strategic Analysis’ covers the impact of financial technology on Environmental, Social, and Governance (ESG) criteria. It analyzes the various dimensions of ESG and sustainability in the context of FinTech.
Bcg cii report - one consumer, many interactions - december 2018Social Samosa
The report highlights the massive, unparalleled change the media and entertainment industry is going through, with the exponential growth of media and type of content available creating a trillion customer touch points.
Booz Allen Hamilton and Market Connections: C4ISR Survey ReportBooz Allen Hamilton
Booz Allen Hamilton partnered with government market research firm Market Connections, Inc. to conduct the survey of military decision-makers. The research examined the main features of Integrated C4ISR through Enterprise Integration: engineering, operations and acquisition. Two-thirds of respondents (65 percent) agree agile incremental delivery of modular systems with integrated capabilities can enable rapid insertion of new technologies.
- Sansan Group provides business database and digitization services that aim to transform how companies work.
- Its flagship Sansan service has grown steadily since 2007 and now has the largest market share in Japan. Bill One, a cloud-based invoice management solution launched in 2020, is rapidly expanding.
- The presentation outlines Sansan Group's mission and vision, provides an overview of its business segments and services, and presents financial results and medium-term targets, demonstrating continued growth.
Payments
Lending
Insurance
Wealth
Management
Digital
Banking
E-wallets
Buy Now Pay Later
Micro Insurance
Robo Advisory
Neo Banks
Mobile Money
Personal Loans
Health Insurance
Digital Assets
Branchless Banking
Digital Remittance
SME Loans
Life Insurance
Digital
Banking
Digital Payments
Digital Lending
Digital Insurance
Digital Wealth
Digital Banking
E-commerce Payments
Invoice Financing
Crop Insurance
P2P Lending
Micro Factoring
Sup
Digital 2022 Sierra Leone (February 2022) v01DataReportal
All the data, statistics, and trends you need to make sense of digital in Sierra Leone in 2022. Includes the latest reported numbers for internet users, social media users, and mobile connections in Sierra Leone, as well as key indicators of ecommerce use. For more reports, including the latest global trends and individual data for more than 230 countries around the world, visit https://datareportal.com/
The new revenue recognition standard for life sciences companiesEY
Summary: These slides were presented at our EY Thought Center webcast on 15 June 2015 and explore how the revenue recognition standard will affect pharma, biotech and medtech companies. They look at practical application issues specific for life sciences companies and the implementation challenges, such as project set up, contract selection and use of tools. The webcast was hosted by Scott Bruns, EY Global Life Sciences Assurance Leader and included Tim Gordon, EY Global Life Sciences Financial Accounting Advisory Services Leader, Frederik Schmachtenberg, EY Global Life Sciences Assurance Resident and special guest, Derek Kosti, Senior Director of Finance and Worldwide Controller at Pfizer Inc. To hear a replay of the one hour webcast, copy this url into your browser: www.ey.com/GL/en/Issues/webcast_2015-06-18-1600_revenue-recognition-standard-for-life-sciences.
The Mergers and Acquisitions market in China report by daxue consultingDaxue Consulting
The document provides information on M&A activity in China in 2020 and 2021. It discusses how the number and value of M&A deals in China increased in 2020 compared to 2019, with more large deals occurring. It also notes that financial buyer M&A deals saw strong growth supported by government investment. The document further analyzes M&A deal trends and barriers in different industries in China during the COVID-19 pandemic. It provides data and examples of major domestic and international M&A transactions involving Chinese companies.
Мінфін за підтримки Проектного офісу реформ, базуючись на кращих практиках країн ОЕСР, методик СІГМА та Світового Банку, розробив та запровадив у своїй діяльності ключові елементи стратегічного планування – Порядок здійснення стратегічного та операційного планування і оновлений Стратегічний план діяльності на 2018-2021 роки.
Для підвищення прозорості та підзвітності, ми також підготували візуалізовану версію Стратегічного плану, яка у зручному та зрозумілому форматі висвітлює основні цілі та завдання Мінфіну у середньостроковій перспективі.
Стратегічний план діяльності Мінфіну на 2018-2021 роки передбачає реалізацію чотирьох стратегічних пріоритетів:
• ефективне бюджетування;
• макроекономічна стабільність та зменшення фіскальних ризиків;
• підтримка економічного зростання;
• підвищення фінансової спроможності регіонів.
Для досягнення зазначених стратегічних пріоритетів, Стратегічний план включає в себе:
• зв’язок стратегічних цілей з ключовими стратегічними документами країни та відповідними бюджетними програми;
• 131 завдання з індикаторами виконання, що стануть базою для складання Операційного плану діяльності на 2019 рік;
• відповідальних виконавців кожного завдання, які відповідають за якісне та вчасне їх виконання.
Мінфін буде регулярно оновлювати Стратегічний план своєї діяльності спільно з українськими та міжнародними експертами. Вже незабаром ми розпочинаємо підготовку проекту Бюджету на 2020 рік та відповідного Стратегічного плану діяльності 2020-2022. Такий підхід забезпечить достатній горизонт планування для оптимального використання наявних у держави ресурсів.
Joining Forces: Interagency Collaboration and "Smart Power"Booz Allen Hamilton
This document summarizes the findings of a survey of 268 federal employees regarding interagency collaboration and addressing global challenges. Key findings include: 1) While agencies like Defense, State, and USAID share overlapping missions, collaboration is uneven and has not met expectations for some; 2) Budget pressures may increase the need for collaboration but managers are less optimistic it will reduce costs; 3) Smart power approaches remain applicable but support has decreased in some areas; 4) Agencies report having the tools needed but collaborating most effectively with other agencies compared to private/non-profit partners.
The Accelerating Growth of Frictionless Commerce | A.T. KearneyKearney
Traditional payments are being replaced by new "frictionless" options that use customer-provided data to make a purchase without an explicit customer decision.
Lifting the Barriers to Retail Innovation in ASEAN | A.T. KearneyKearney
The document discusses retail innovation in ASEAN countries. It notes that while ASEAN has over 600 million consumers and a $2.4 trillion GDP across 10 countries, the region lags global and regional competitors in innovation. Modern retail makes up less than 50% of ASEAN retail compared to 70-85% in developed markets. Private labels only account for 1-8% of ASEAN retail sales. E-commerce is growing but still below US and China levels. The report identifies four barriers to retail innovation in ASEAN - non-tariff barriers, access to talent, trade efficiency, and integration of innovators - and how to overcome them.
Digital 2022 Thailand (February 2022) v01DataReportal
All the data, statistics, and trends you need to make sense of digital in Thailand in 2022. Includes the latest reported numbers for internet users, social media users, and mobile connections in Thailand, as well as key indicators of ecommerce use. For more reports, including the latest global trends and individual data for more than 230 countries around the world, visit https://datareportal.com/
BCG and Meta today announced the launch of a new report around the increasing influence of digital in driving media and entertainment consumption in India.
Contents
Step 1. Identify ESG Issues & Conduct Materiality Assessment
Identify the most relevant ESG issues dynamically considering double materiality
Step 2. As-Is Current State Assessment
Diagnosis of current management state and maturity regarding material ESG issues
Step 3. Set To-Be Goals & Develop As-Is to To-Be Roadmap
Establish clear objectives/goals & develop roadmap to achieve the goals
Step 4. Set ESG Strategic Framework & Action Plans
Set clear framework and actions for ESG program execution
Step 5. Execution
Implement management program and Monitor & Evaluate progress and performance
Step 6. Review & Improve Program
Evaluate outcomes and revise any needed part of program
McKinsey - Covid 19 - Global Auto Consumer Insights - November 2020Martin Hattrup
The document provides insights from a November 2020 consumer survey conducted across several European countries regarding the impact of the second COVID-19 lockdown. Key findings include:
- The second lockdown is perceived as less challenging than the first, though French respondents feel most affected. Higher income respondents feel less impacted.
- New car purchase intent has dropped 13 points since September across EU markets. Used car intent is more robust with a 2 point decrease.
- Respondents plan to delay purchases and spend less on their next car, requiring more discounts. Mobility and aftermarket work have also decreased since September.
For over 75 consecutive quarters, the ISG Index™ has detailed the latest data and trends for the global IT services market for investors, enterprise buyers, software and service providers, law firms, universities and the media.
It is the preeminent outsourcing index that includes coverage of the global combined market, including both managed services and the fast-growing as-a-service market.
One of the few global indices of the global IT market, the ISG Index measures the significant impact cloud-based services are having on digital business transformation and provides ongoing analysis of automation and other digital technologies.
Digital 2022 Guinea-Bissau (February 2022) v01DataReportal
All the data, statistics, and trends you need to make sense of digital in Guinea-Bissau in 2022. Includes the latest reported numbers for internet users, social media users, and mobile connections in Guinea-Bissau, as well as key indicators of ecommerce use. For more reports, including the latest global trends and individual data for more than 230 countries around the world, visit https://datareportal.com/
This is the 2021 edition of the VC Tech Stack report compiled in May 2021 - a report about the tools and solutions used by Venture Capital firms and entrepreneurship-related entities.
Questions include CRMs and deal flow solutions, scheduling, chat, audio and video, community and sharing knowledge, automation, talent, files, and many more.
Of the different patterns that have emerged in governments’ fight against coronavirus—crush and contain is the most effective. While many countries missed the initial opportunity to crush and contain, it is critical that governments prepare now to make sure they don’t miss the opportunity again.
Contents
I. ESG Introduction
ESG Management Matters?
ESG Investment Matters?
ESG Management Status
ESG Investment Status
ESG Investing Consideration Core Factors
ESG Reporting Frameworks & Guidelines
ESG Reporting Trends to Watch in 2021
ESG in S. Korea
My ESG Book Recommendation
II. AI & Blockchain Applications for ESG
AI Applications for ESG Investing Demos
ESG Knowledge Map (AI Topic Modeling)
ESG Performance Score - Materiality Comparisons Across Industries
ESG Incident (Risks) Analysis in S. Korea
Blockchain for ESG Management
Blockchain DeFi Based ESG Financing
DeFi Based ESG Financing Platform Development
DeFi Reference
III. ESG Digital Transformation
ESG Digital Transformation (DX)
The Fourth Wave of Environmentalism
AI Innovation State Of The Art
Blockchain State Of The Art: Issues with Public Chain
IoT Innovation State Of The Art: 5G & Edge AI
AI Blockchain IoT for ESG Digital Transformation AT A Glance
ESG DX Innovation Insights from Patents
AI Blockchain IoT Convergence for ESG DX Insights from Patents
ESG Cybersecurity & Privacy
ESG Cybersecurity & Privacy Reporting Standard
Global Standard for Reporting Cybersecurity & Privacy
Cybersecurity & Privacy Reporting Standard Development
ESG DX Framework Development
Issues with Current ESG Performance Evaluation
ESG DX for ESG Management & Investment
WEF/IBC Metrics & Disclosure Standard
SASB Materiality Map
How to Determine Materiality?
ESG DX Framework for Metrics Digitalization & Reporting Automation Exploiting Existing IT/Digital Technology System
ESG DX Framework for ESG Metrics Data Governance
ESG DX Framework for Business Innovation & Growth
ESG DX Framework based on AI+Blockchain+IoT Convergence
ESG DX Framework for New Deal Project in S. Korea
ESG DX Forum
Brazil Digital Report - 1st Edition By McKinsey & Company and Brazil at Silic...Ana Lucia Amaral
This report provides an overview of Brazil's economy, innovation landscape, and opportunities for growth. While Brazil's GDP is growing again after a slowdown, productivity has increased little. The economy relies heavily on private consumption and the services sector. Macroeconomic indicators like inflation, interest rates, and Brazil's risk rating have improved in recent years. However, Brazil needs to address low productivity, lack of innovation, and the absence of large technology companies in order to transition to sustainable long-term growth as workforce growth declines.
SaaS Wars: Europe Awakens. The Accel Euroscape 2016Philippe Botteri
1) SaaS adoption is growing rapidly globally, with the European market starting to catch up to the United States in terms of the number of SaaS companies and funding.
2) Marketing and sales SaaS solutions dominate the European market currently, while vertical industry applications are emerging.
3) On average, SaaS companies in Europe receive 30-40% less total funding than similar US companies, though the funding gap is decreasing.
Madison Park Group activity monitors public equity market activity across a range of software and technology sectors. In our Q2 2021 Software & Technology Public Market Update Report, readers will find market and financial data that is relevant to a range of critical sectors.
May 12, 2022. Madison Park Group activity monitors M&A market activity across a range of software and technology sectors. In our 2021 Software & Technology M&A Market Update Report, readers will find market and financial data that is relevant to a range of critical sectors.
The software M&A marketplace has seen a robust uptick in the past years, significantly outpacing other sectors and propelled by both mega-deals and middle market transactions. Key drivers of rising activity include the increased involvement of private equity firms, accounting for 43.4% of all transactions in 2021. The broader buyer universe has paved the way for a powerful seller’s marketplace with deal valuations reaching record levels, far outpacing prior periods at a median of 4.10x EV / TTM Revenue.
The new revenue recognition standard for life sciences companiesEY
Summary: These slides were presented at our EY Thought Center webcast on 15 June 2015 and explore how the revenue recognition standard will affect pharma, biotech and medtech companies. They look at practical application issues specific for life sciences companies and the implementation challenges, such as project set up, contract selection and use of tools. The webcast was hosted by Scott Bruns, EY Global Life Sciences Assurance Leader and included Tim Gordon, EY Global Life Sciences Financial Accounting Advisory Services Leader, Frederik Schmachtenberg, EY Global Life Sciences Assurance Resident and special guest, Derek Kosti, Senior Director of Finance and Worldwide Controller at Pfizer Inc. To hear a replay of the one hour webcast, copy this url into your browser: www.ey.com/GL/en/Issues/webcast_2015-06-18-1600_revenue-recognition-standard-for-life-sciences.
The Mergers and Acquisitions market in China report by daxue consultingDaxue Consulting
The document provides information on M&A activity in China in 2020 and 2021. It discusses how the number and value of M&A deals in China increased in 2020 compared to 2019, with more large deals occurring. It also notes that financial buyer M&A deals saw strong growth supported by government investment. The document further analyzes M&A deal trends and barriers in different industries in China during the COVID-19 pandemic. It provides data and examples of major domestic and international M&A transactions involving Chinese companies.
Мінфін за підтримки Проектного офісу реформ, базуючись на кращих практиках країн ОЕСР, методик СІГМА та Світового Банку, розробив та запровадив у своїй діяльності ключові елементи стратегічного планування – Порядок здійснення стратегічного та операційного планування і оновлений Стратегічний план діяльності на 2018-2021 роки.
Для підвищення прозорості та підзвітності, ми також підготували візуалізовану версію Стратегічного плану, яка у зручному та зрозумілому форматі висвітлює основні цілі та завдання Мінфіну у середньостроковій перспективі.
Стратегічний план діяльності Мінфіну на 2018-2021 роки передбачає реалізацію чотирьох стратегічних пріоритетів:
• ефективне бюджетування;
• макроекономічна стабільність та зменшення фіскальних ризиків;
• підтримка економічного зростання;
• підвищення фінансової спроможності регіонів.
Для досягнення зазначених стратегічних пріоритетів, Стратегічний план включає в себе:
• зв’язок стратегічних цілей з ключовими стратегічними документами країни та відповідними бюджетними програми;
• 131 завдання з індикаторами виконання, що стануть базою для складання Операційного плану діяльності на 2019 рік;
• відповідальних виконавців кожного завдання, які відповідають за якісне та вчасне їх виконання.
Мінфін буде регулярно оновлювати Стратегічний план своєї діяльності спільно з українськими та міжнародними експертами. Вже незабаром ми розпочинаємо підготовку проекту Бюджету на 2020 рік та відповідного Стратегічного плану діяльності 2020-2022. Такий підхід забезпечить достатній горизонт планування для оптимального використання наявних у держави ресурсів.
Joining Forces: Interagency Collaboration and "Smart Power"Booz Allen Hamilton
This document summarizes the findings of a survey of 268 federal employees regarding interagency collaboration and addressing global challenges. Key findings include: 1) While agencies like Defense, State, and USAID share overlapping missions, collaboration is uneven and has not met expectations for some; 2) Budget pressures may increase the need for collaboration but managers are less optimistic it will reduce costs; 3) Smart power approaches remain applicable but support has decreased in some areas; 4) Agencies report having the tools needed but collaborating most effectively with other agencies compared to private/non-profit partners.
The Accelerating Growth of Frictionless Commerce | A.T. KearneyKearney
Traditional payments are being replaced by new "frictionless" options that use customer-provided data to make a purchase without an explicit customer decision.
Lifting the Barriers to Retail Innovation in ASEAN | A.T. KearneyKearney
The document discusses retail innovation in ASEAN countries. It notes that while ASEAN has over 600 million consumers and a $2.4 trillion GDP across 10 countries, the region lags global and regional competitors in innovation. Modern retail makes up less than 50% of ASEAN retail compared to 70-85% in developed markets. Private labels only account for 1-8% of ASEAN retail sales. E-commerce is growing but still below US and China levels. The report identifies four barriers to retail innovation in ASEAN - non-tariff barriers, access to talent, trade efficiency, and integration of innovators - and how to overcome them.
Digital 2022 Thailand (February 2022) v01DataReportal
All the data, statistics, and trends you need to make sense of digital in Thailand in 2022. Includes the latest reported numbers for internet users, social media users, and mobile connections in Thailand, as well as key indicators of ecommerce use. For more reports, including the latest global trends and individual data for more than 230 countries around the world, visit https://datareportal.com/
BCG and Meta today announced the launch of a new report around the increasing influence of digital in driving media and entertainment consumption in India.
Contents
Step 1. Identify ESG Issues & Conduct Materiality Assessment
Identify the most relevant ESG issues dynamically considering double materiality
Step 2. As-Is Current State Assessment
Diagnosis of current management state and maturity regarding material ESG issues
Step 3. Set To-Be Goals & Develop As-Is to To-Be Roadmap
Establish clear objectives/goals & develop roadmap to achieve the goals
Step 4. Set ESG Strategic Framework & Action Plans
Set clear framework and actions for ESG program execution
Step 5. Execution
Implement management program and Monitor & Evaluate progress and performance
Step 6. Review & Improve Program
Evaluate outcomes and revise any needed part of program
McKinsey - Covid 19 - Global Auto Consumer Insights - November 2020Martin Hattrup
The document provides insights from a November 2020 consumer survey conducted across several European countries regarding the impact of the second COVID-19 lockdown. Key findings include:
- The second lockdown is perceived as less challenging than the first, though French respondents feel most affected. Higher income respondents feel less impacted.
- New car purchase intent has dropped 13 points since September across EU markets. Used car intent is more robust with a 2 point decrease.
- Respondents plan to delay purchases and spend less on their next car, requiring more discounts. Mobility and aftermarket work have also decreased since September.
For over 75 consecutive quarters, the ISG Index™ has detailed the latest data and trends for the global IT services market for investors, enterprise buyers, software and service providers, law firms, universities and the media.
It is the preeminent outsourcing index that includes coverage of the global combined market, including both managed services and the fast-growing as-a-service market.
One of the few global indices of the global IT market, the ISG Index measures the significant impact cloud-based services are having on digital business transformation and provides ongoing analysis of automation and other digital technologies.
Digital 2022 Guinea-Bissau (February 2022) v01DataReportal
All the data, statistics, and trends you need to make sense of digital in Guinea-Bissau in 2022. Includes the latest reported numbers for internet users, social media users, and mobile connections in Guinea-Bissau, as well as key indicators of ecommerce use. For more reports, including the latest global trends and individual data for more than 230 countries around the world, visit https://datareportal.com/
This is the 2021 edition of the VC Tech Stack report compiled in May 2021 - a report about the tools and solutions used by Venture Capital firms and entrepreneurship-related entities.
Questions include CRMs and deal flow solutions, scheduling, chat, audio and video, community and sharing knowledge, automation, talent, files, and many more.
Of the different patterns that have emerged in governments’ fight against coronavirus—crush and contain is the most effective. While many countries missed the initial opportunity to crush and contain, it is critical that governments prepare now to make sure they don’t miss the opportunity again.
Contents
I. ESG Introduction
ESG Management Matters?
ESG Investment Matters?
ESG Management Status
ESG Investment Status
ESG Investing Consideration Core Factors
ESG Reporting Frameworks & Guidelines
ESG Reporting Trends to Watch in 2021
ESG in S. Korea
My ESG Book Recommendation
II. AI & Blockchain Applications for ESG
AI Applications for ESG Investing Demos
ESG Knowledge Map (AI Topic Modeling)
ESG Performance Score - Materiality Comparisons Across Industries
ESG Incident (Risks) Analysis in S. Korea
Blockchain for ESG Management
Blockchain DeFi Based ESG Financing
DeFi Based ESG Financing Platform Development
DeFi Reference
III. ESG Digital Transformation
ESG Digital Transformation (DX)
The Fourth Wave of Environmentalism
AI Innovation State Of The Art
Blockchain State Of The Art: Issues with Public Chain
IoT Innovation State Of The Art: 5G & Edge AI
AI Blockchain IoT for ESG Digital Transformation AT A Glance
ESG DX Innovation Insights from Patents
AI Blockchain IoT Convergence for ESG DX Insights from Patents
ESG Cybersecurity & Privacy
ESG Cybersecurity & Privacy Reporting Standard
Global Standard for Reporting Cybersecurity & Privacy
Cybersecurity & Privacy Reporting Standard Development
ESG DX Framework Development
Issues with Current ESG Performance Evaluation
ESG DX for ESG Management & Investment
WEF/IBC Metrics & Disclosure Standard
SASB Materiality Map
How to Determine Materiality?
ESG DX Framework for Metrics Digitalization & Reporting Automation Exploiting Existing IT/Digital Technology System
ESG DX Framework for ESG Metrics Data Governance
ESG DX Framework for Business Innovation & Growth
ESG DX Framework based on AI+Blockchain+IoT Convergence
ESG DX Framework for New Deal Project in S. Korea
ESG DX Forum
Brazil Digital Report - 1st Edition By McKinsey & Company and Brazil at Silic...Ana Lucia Amaral
This report provides an overview of Brazil's economy, innovation landscape, and opportunities for growth. While Brazil's GDP is growing again after a slowdown, productivity has increased little. The economy relies heavily on private consumption and the services sector. Macroeconomic indicators like inflation, interest rates, and Brazil's risk rating have improved in recent years. However, Brazil needs to address low productivity, lack of innovation, and the absence of large technology companies in order to transition to sustainable long-term growth as workforce growth declines.
SaaS Wars: Europe Awakens. The Accel Euroscape 2016Philippe Botteri
1) SaaS adoption is growing rapidly globally, with the European market starting to catch up to the United States in terms of the number of SaaS companies and funding.
2) Marketing and sales SaaS solutions dominate the European market currently, while vertical industry applications are emerging.
3) On average, SaaS companies in Europe receive 30-40% less total funding than similar US companies, though the funding gap is decreasing.
Madison Park Group activity monitors public equity market activity across a range of software and technology sectors. In our Q2 2021 Software & Technology Public Market Update Report, readers will find market and financial data that is relevant to a range of critical sectors.
May 12, 2022. Madison Park Group activity monitors M&A market activity across a range of software and technology sectors. In our 2021 Software & Technology M&A Market Update Report, readers will find market and financial data that is relevant to a range of critical sectors.
The software M&A marketplace has seen a robust uptick in the past years, significantly outpacing other sectors and propelled by both mega-deals and middle market transactions. Key drivers of rising activity include the increased involvement of private equity firms, accounting for 43.4% of all transactions in 2021. The broader buyer universe has paved the way for a powerful seller’s marketplace with deal valuations reaching record levels, far outpacing prior periods at a median of 4.10x EV / TTM Revenue.
After a record-setting 2021, Q2 2022 experienced a pullback in valuations and overall deal volume on the heels of fiscal policy changes and record CPI increases in each month. Despite the overall pullback, software M&A continues to dominate global transaction volume with software representing over 30% of deals completed in Q2 as sponsors find new ways to invest in the market via public targets and tuck-in acquisitions.
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The document summarizes the macroeconomic factors that have impacted public and private markets in 2022, including high inflation, interest rate hikes, and geopolitical instability. It discusses how private valuations and deal volumes have begun to decline to follow the downturn in public markets. While funding is still available, investors prefer profitable companies and deals are smaller. The document also provides updates on regulatory changes in China and suggests founders plan ahead during the economic uncertainty.
Intellect announced its second-quarter results for FY 2021-22 on 28th October 2021. The highlights of the results included the total revenue for Q2 FY22 standing at INR 4521 Mn marking a 22% YoY growth. In dollar terms, the company recorded a revenue of $ 61.03 Mn marking a 22% YoY growth. Licence Revenue for Q2 FY22 is INR 869 Mn while Q2 FY22 AMC Revenue is INR 814 Mn. Saas/Cloud revenue of Q2 FY22 registered a 156% YoY growth at INR 879 Mn.
Financial Results for the First Half of the Fiscal Year Ending March 2023KDDI
Statements made in these documents with respect to the KDDI Group‘s performance targets, projected subscriber numbers, future forecasts and strategies that are not historical facts are forward-looking statements about the future performance of the KDDI Group, based on company’s assumptions and beliefs in light of the information available at the time they were made. They therefore include certain risks and uncertainties. Actual results can differ from these statements due to reasons including, but not limited to, domestic and overseas situation, economic trends, competitive position, formulation, revision or abolition of laws and ordinances, regulations or systems, government actions or intervention and the success or lack thereof of new services.
Consequently, please understand that there is a possibility that actual performance, subscriber numbers, strategies and other information may differ significantly from the forecast information contained in these materials or other envisaged situations.
Financial Results for the First Half of the Fiscal Year Ending March 2023KDDI
Statements made in these documents with respect to the KDDI Group‘s performance targets, projected subscriber numbers, future forecasts and strategies that are not historical facts are forward-looking statements about the future performance of the KDDI Group, based on company’s assumptions and beliefs in light of the information available at the time they were made. They therefore include certain risks and uncertainties. Actual results can differ from these statements due to reasons including, but not limited to, domestic and overseas situation, economic trends, competitive position, formulation, revision or abolition of laws and ordinances, regulations or systems, government actions or intervention and the success or lack thereof of new services.
Consequently, please understand that there is a possibility that actual performance, subscriber numbers, strategies and other information may differ significantly from the forecast information contained in these materials or other envisaged situations.
A comprehensive view for current and influential factors for a highly disrupted industry . The report is a global look with some focus on Egypt. It includes also some analytics capabilities for the banking industry Big Brother Analytics is able to perform.
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Global Digital Transformation Market: Size, and Trends with Impact of COVID-1...Daedal Research
In 2021, the global digital transformation market was valued at US$601.12 billion and is anticipated to grow to US$2065.47 billion by 2027. For more: info@daedal-research.com
Financial Results for the First Quarter of the Fiscal Year Ending March 2022KDDI
Statements made in these documents with respect to the KDDI Group‘s performance targets, projected subscriber numbers, future forecasts and strategies that are not historical facts are forward-looking statements about the future performance of the KDDI Group, based on company’s assumptions and beliefs in light of the information available at the time they were made. They therefore include certain risks and uncertainties. Actual results can differ from these statements due to reasons including, but not limited to, domestic and overseas situation, economic trends, competitive position, formulation, revision or abolition of laws and ordinances, regulations or systems, government actions or intervention and the success or lack thereof of new services.
Consequently, please understand that there is a possibility that actual performance, subscriber numbers, strategies and other information may differ significantly from the forecast information contained in these materials or other envisaged situations.
Financial Results for the First Quarter of the Fiscal Year Ending March 2022KDDI
Statements made in these documents with respect to the KDDI Group‘s performance targets, projected subscriber numbers, future forecasts and strategies that are not historical facts are forward-looking statements about the future performance of the KDDI Group, based on company’s assumptions and beliefs in light of the information available at the time they were made. They therefore include certain risks and uncertainties. Actual results can differ from these statements due to reasons including, but not limited to, domestic and overseas situation, economic trends, competitive position, formulation, revision or abolition of laws and ordinances, regulations or systems, government actions or intervention and the success or lack thereof of new services.
Consequently, please understand that there is a possibility that actual performance, subscriber numbers, strategies and other information may differ significantly from the forecast information contained in these materials or other envisaged situations.
Intellect's purpose is to provide large Enterprise-Grade Composable and Contextual solutions driving higher business growth,
reducing cost and risk on a sustainable basis. This purpose has driven succesful Q3 FY22 results.
For over 75 consecutive quarters, the ISG Index™ has detailed the latest data and trends for the global IT services market for investors, enterprise buyers, software and service providers, law firms, universities and the media.
It is the preeminent outsourcing index that includes coverage of the global combined market, including both managed services and the fast-growing as-a-service market.
One of the few global indices of the global IT market, the ISG Index measures the significant impact cloud-based services are having on digital business transformation and provides ongoing analysis of automation and other digital technologies.
For 80 consecutive quarters, the ISG Index™ has detailed the latest data and trends for the global IT services market for investors, enterprise buyers, software and service providers, law firms, universities and the media.
It is the preeminent outsourcing index that includes coverage of the global combined market, including both managed services and the fast-growing as-a-service market.
One of the few global indices of the global IT market, the ISG Index measures the significant impact cloud-based services are having on digital business transformation and provides ongoing analysis of automation and other digital technologies.
Tencent’s company introduction and financial performance in 2023syb6fpbf7p
- Tencent was founded in 1998 and listed on the Hong Kong Stock Exchange in 2004. Since then, it has grown significantly through strategic acquisitions and launches of new services.
- Key services and platforms include Weixin, games, digital content subscriptions, online advertising, fintech services, and more.
- Tencent has achieved resilient growth through economic cycles since 2004, with revenues increasing nearly 500x and adjusted EBITDA increasing nearly 400x over that period.
The document discusses certain forward-looking statements regarding Infosys' future growth prospects and financial performance that involve risks and uncertainties. It notes key risks such as execution of business strategy, attracting and retaining talent, transition to hybrid work model, economic uncertainties, and regulatory changes. The document provides Infosys' market position, business segments, and financial highlights. It also outlines the company's strategic priorities such as continuing digital intensity, next generation technologies, people development and sustainability to achieve continued growth.
Intellect's Q1 FY22 performance was delivered with a strong foundation for the road ahead for the seventh consecutive quarter of growth in revenues and profits.
Similaire à Q2 2022 Software Technology Public Market Update (20)
Madison Park Group actively tracks the broader Engineering, Manufacturing, and Supply Chain Software market and has dedicated significant attention to the Industrial IOT technology landscape. We are particularly interested in the rapid development of several trends:
• Advancements in high-speed data ingestion and AI enabling highly accurate assessments of machine performance and reducing unnecessary downtimes
• Low-code/No-code platforms and ready-to-use APIs simplifying software development processes and helping drive a wider range of IIoT uses cases and implementations
• Integration of sensors into wearable devices and industrial assets in the manufacturing, healthcare and construction sectors, amongst others, creating real-time intelligence and novel asset tracking insights for operational efficiency and improved outcomes
MPG Supply Chain Planning & Commerce Market Update - September 2022Madison Park Group
Madison Park Group actively tracks the broader Supply Chain Management Software market and has dedicated significant attention to the Supply Chain Planning and Commerce technology ecosystem
Madison Park Group is pleased to announce that our client, Operix, has secured a growth investment from M33 Growth, a Boston-based venture and growth-stage investment firm. Operix, formerly known as IFS Core, is a provider of software solutions for specialty contractors that allow for more efficient management of field operations personnel and processes through seamless integrations with core accounting platforms.
The transaction represents MPG's continued commitment to advising leading ConstrucTech firms on highly strategic M&A and capital raising transactions. We see exceptional momentum and opportunity across our entire coverage universe but are particularly excited about solutions that help manage services and construction operations, enabling contractors and owners to become more effective and profitable amongst everchanging and challenging market dynamics.
MPG Transaction Announcement - Rockpointe has been acquired by Clinical Educa...Madison Park Group
Rockpointe, a healthcare education company, has been acquired by Clinical Education Alliance (CEA). Rockpointe focuses on designing accredited clinical education driven by public health priorities and practitioner needs, while CEA is a global leader in developing innovative enduring, virtual, and live education for healthcare teams. The acquisition expands CEA's reach to community clinicians in the US and supports its focus on high-science therapeutic areas, allowing rapid expansion into primary care education. Madison Park Group served as the exclusive financial advisor for Rockpointe on the transaction.
Madison Park Group (MPG) actively tracks the broader MarTech landscape and has dedicated significant attention to the Content & Experience, Social & Relationships and Data ecosystems.
Madison Park Group (MPG) actively tracks the broader MarTech landscape and has dedicated significant attention to the Content & Experience, Social & Relationships and Data
Madison Park Group is a strategic M&A and capital raising advisor to the global software economy. MPG’s dedicated industrial technology team has advised on +40 successful industrial technology transactions and maintains strong relationships with all key strategic players. The firm’s supply chain management technology coverage focuses on applications catered to supply chain planning, supply chain execution, and procurement. The firm’s principals have sat on both sides of the table, advising disruptors, consolidators, and incumbents as they navigate strategic initiatives and financial transactions. Industry leaders trust Madison Park Group’s experience in the marketplace.
The document provides an overview of the procurement software market and trends in mergers and acquisitions and venture capital investment activity. Key points include:
- Coupa acquired Llamasoft to advance its vision of comprehensively managing all business spend by combining Llamasoft's supply chain capabilities with Coupa's source-to-pay and treasury capabilities.
- ODP acquired BuyerQuest to bolster its corporate buying and selling services and leverage an integrated eCommerce, procurement-to-pay, and supply chain platform.
- Venture capital investment in procurement software increased significantly in 2021, with notable deals including a $100 million raise for a procurement marketplace and $60 million for a spend management platform.
Madison Park Group is a strategic M&A and capital raising advisor to the global software economy. In November 2020, MPG formed a strategic partnership with Ascentage Group (“Ascentage”), a business development and M&A advisory firm addressing the strategic and tactical business needs of growth-stage companies developing construction technology and software for the built environment. Ascentage’s domain expertise in design, construction, infrastructure, and asset management technologies further enhances MPG’s rapidly expanding industrial technology advisory practice.
The firm’s principals have sat on both sides of the table, advising disruptors, consolidators, and incumbents as they navigate strategic initiatives. Industry leaders trust Madison Park Group’s experience in the marketplace.
Madison Park Group is a strategic M&A and capital raising advisor to the global software economy. The firm’s engineering software practice focuses on applications catered to product development groups across both discrete and process manufacturing enterprises. The firm’s principals have sat on both sides of the table, advising disruptors, consolidators, and incumbents as they navigate strategic initiatives. Industry leaders trust Madison Park Group’s experience in the marketplace.
MPG Member Management Software Market Update – December 2020Madison Park Group
We are pleased to present our review of the member management software market for December 2020.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
Jonathan Adler and Michael Magruder spearhead the firm's efforts in the broader member management software market.
MPG Life Sciences Software Market Snapshot October 2020Madison Park Group
We are pleased to present our life sciences software market snapshot for October 2020.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
Rohan Khanna, Jonathan Adler and James Tomasullo spearhead the firm's efforts in the space.
MPG Manufacturing Software Market Snapshot - July 2020Madison Park Group
We are pleased to present our inaugural review of the manufacturing software market.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
Ralph Verrilli, Michael Magruder and James Tomasullo spearhead the firm's efforts in the manufacturing software market.
MPG Transportation & Logistics Technology Market Snapshot - May 2020Madison Park Group
Madison Park Group is an investment banking firm that blends 25+ years of investment banking and operating experience in enterprise software & SaaS, digital media and tech-enabled services. MPG has closed over 130 M&A and fundraising transactions for a range of VC-backed and founder-owned technology companies. MPG believes that the best people to advise technology entrepreneurs are those who have stood in their shoes as entrepreneurs, investors, and advisors.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
MPG Engineering, Design, PLM, and Simulation Software Market Update - 2019Madison Park Group
We are pleased to present our review of the engineering software market for 2019.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
Ralph Verrilli, Michael Magruder, and Sean Stouffer spearhead the firm's efforts in the space.
We are pleased to present our review of the life sciences software market for the first half of 2019.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
Rohan Khanna and Jonathan Adler spearhead the firm's efforts in the space.
MPG Member Management Software Market Update - H1 2019Madison Park Group
We are pleased to present our review of the nonprofit & association software market for the first half of 2019.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
Jonathan Adler and Michael Magruder spearhead the firm's efforts in the broader member management software market.
Madison Park Group - EHSQ Software Market Update - Initial Report (2019)Madison Park Group
We are pleased to present our initial review of the environmental, health, safety, and quality (EHSQ) compliance & risk management software market.
Madison Park Group is a unique investment banking firm that takes a "strategy first" approach to advising software companies. Our partners have developed and advised numerous successful companies as operators, investors and investment bankers.
Jon Adler and Sean Stouffer spearhead the firm's efforts in the EHSQ software market.
Madison Park Group Life Sciences Software Market Update H2 2018Madison Park Group
The document provides an update on the life sciences software market in the second half of 2018. Key points include:
1) Continued M&A activity in the clinical trials software space, with many assets moving between private equity firms.
2) Emerging technologies aim to optimize clinical trials and decision making through integration of software, data analytics, and real world evidence.
3) Regulations like SEND and the EU Clinical Trials Regulation are driving standardization and may increase spend on compliant software and services.
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In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
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A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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2. 2
I. The Big Picture
II. Corporate & Business Solutions Market Update
III. Industrial Tech Market Update
IV. Healthcare & Life Sciences Market Update
V. Business Infrastructure Solutions Market Update
VI. IT Services Market Update
VII. About Us 48
3
35
Table of Contents
Q1 2022 Software & Technology Public Market Update
To View Section, Click Section Name
10
21
28
42
4. 4
Q2 2022 Market Chatter
Software IPO Window Closing while Marquee Deals Still get Done
To View News, Click On Source Logo
Key Announcements & Market Events`
M&A Transactions
IPOs Market Events
Take-Private Transactions
• As software public market performance continues to slide, investors seek to be more scrutinous of opportunities, shifting focus to profit over growth
– There were zero US technology IPOs in Q2 2022
• M&A transactions have seen a pullback from a weak Q1
– Global technology M&A deals cleared $627b in total deal value, across 677 transactions for 1H of 2022
Sources: S&P Capital IQ, Pitchbook, CB Insights, PwC
Stock Selloff Crunches SPAC
Creators as They Race to Find
Deals
May 2022
Japan IPOs plunge 30% in
biggest drop since 2009
June 2022
US IPO Week Ahead: No IPOs
in the short holiday week
May 2022
Panasonic Considers US IPO for
Blue Yonder Software Arm
May 2022
Inflation Hits new 40-year High
of 8.6% as gas, Food Prices
Keep Rising
May 2022
S&P 500 Enters Bear Market as
Dow, Nasdaq Fall
June 2022
Fed Raises Key Interest Rates
by 0.75% as it Hardens Fight
Against Inflation
June 2022
Venture funding set to hit
lowest level since 2020
June 2022
Tech Layoffs Analysis: Late-
Stage Startups Are Hit Hardest
June 2022
NYSE-owner ICE to buy Black
Knight in $13.1 bln deal
May 2022
Broadcom to acquire VMware
in massive $61B deal
May 2022
Siemens acquires Brightly
Software for $1.6B
June 2022
Covetrus to Be Acquired by
Clayton, D&R and TPG at a $4
Billion Valuation
May 2022
Zendesk to be acquired by
investor group for $10.2 billion
June 2022
SailPoint to be Acquired by
Thoma Bravo for $6.9 Billion
April 2022
Synopsys to Acquire WhiteHat
Security from NTT
April 2022
Shopify to Acquire Deliverr for
$2.1B: Building the Future of
Global Logistics for
Independent Brands
May 2022
GTY Technology Holdings Inc.
Enters Agreement to be
Acquired by GI Partners
April 2022
Over 300 Companies Are
Waiting for the IPO Market to
Reopen
June 2022
Ideagen agrees to $1.3 billion
takeover offer amid strong
buyout interest
May 2022
Earnings
Announcements
Alphabet Misses on Earnings
and Revenue for Second
Quarter
July 2022
Where is SAP Stock Headed
Following Q2 Results
July 2022
IBM Shares Slide After
Company Trims Forecast
July 2022
Dassault Systèmes SE (DASTY)
Management on Q2 2022
Results
June 2022
Tech Companies Took a Hit
From War and Supply Chain
Disruptions
June 2022
5. 5
YTD Change in Median EV / LTM Revenue – Analysis by Size
6.91x
8.28x
6.98x
7.56x
3.98x
5.75x 5.95x
5.51x
Small Mid-Sized Large Mega Cap
9.90x
7.97x 7.98x
9.65x
5.82x
5.20x
4.44x
6.12x
High Growth Highly Acquisitive SaaS Index Highly Profitable
6.23x
8.38x
6.50x
7.93x
3.98x
5.75x 5.95x
5.51x
Small Mid-Sized Large Mega Cap
9.17x
8.64x
7.79x
9.73x
5.82x
5.20x
4.44x
6.12x
High Growth Highly Acquisitive SaaS Index Highly Profitable
BENCHMARKING ANALYSIS NOTES:
(i) High Growth: 1st Quartile for revenue growth from the MPG Total Coverage Index
(ii) Highly Acquisitive: 1st Quartile for # of acquisitions from the MPG Total Coverage Index
(iii) SaaS Index: Companies with >85% in recurring revenue from the MPG Total Coverage Index
(iv) Highly Profitable: 1st Quartile of 2022E EBITDA Margin % from the MPG Total Coverage Index
Source: S&P Capital IQ
Shifting Valuation Environment
Public Market Valuations Contract Across Entire Ecosystem
YoY Change in Median EV / LTM Revenue – Analysis by Profile YoY Change in Median EV / LTM Revenue – Analysis by Size
7/1/2021
6/30/2022
(36.2%)
(30.5%)
YTD Change in Median EV / LTM Revenue – Analysis by Profile
1/1/2022
6/30/2022
(42.5%)
(30.6%)
(14.7%) (27.0%)
SIZE ANALYSIS NOTES:
(i) Analysis omits IT Services companies
(ii) Market data as of March 31, 2022
(iii) Sizes are defined by Market Cap at June 30, 2022
(iv) Small <$1B; Mid-Sized <$10B; Large <$100B; Mega Cap >$100B
(39.9%)
(34.8%)
(44.4%)
7/1/2021
6/30/2022
1/1/2022
6/30/2022
(41.2%)
(37.1%)
(36.5%)
(36.5%)
(43.0%) (31.4%)
(8.5%)
7. 7
NASDAQ Composite
Madison Park Group High Growth Index(1)
Madison Park Group Highly Acquisitive Index(2)
Madison Park Group Total Coverage Index(3)
Madison Park Group SaaS Index(4)
1) 1st Quartile for revenue growth from the MPG Total Coverage Index
2) 1st Quartile for # of acquisitions from the MPG Total Coverage Index
3) 343 Software and Services Companies covered by MPG
Sources: S&P Capital IQ, Pitchbook
4) Companies with >85% in recurring revenue from the MPG Total Coverage Index
5) Acquisitions made by companies within Madison Park Group Coverage Index
Software’s Sensitivity
Software market in-sync with broader market performance as shift away
from growth-at-all-costs continues
MPG Market Dashboard: Trailing 24 Month Public Market Performance
(11.7%)
9.6%
4.9%
6.3%
(6.2%)
Apr 1 ‘22 – Jun 30 ’22
(23.7%)
(21.8%)
(22.1%)
(22.7%)
(23.3%)
Zooming in on the Q2 2022 Software
Pullback
MPG Market Dashboard: Q2 2022 Public Market Performance
2022
2021
Q2’20 – Q2’22
8. 8
Payments 30 49 34.7% 17.6%
Data Solutions & Infrastructure 17 28 28.6% 21.6%
Industrial & Manufacturing 15 35 23.4% 7.1%
Communications & Collaboration 22 13 46.6% 22.4%
Accounting & Fintech 26 29 34.9% 15.3%
Verticalized Platforms 15 17 29.7% 13.5%
Human Resources & Labor 17 10 15.8% 15.8%
Global Diversified 10 48 16.5 10.7%
Content Management 7 7 24.3% 9.0%
Compliance & Legal 9 8 19.5% 12.0%
Location & Telematics 7 1 46.8% 10.3%
Engineering & Design 15 30 19.7% 11.0%
Industrial Software
Business Intelligence & Analytics 23 19 43.6% 21.9%
Subsector
Company
Count
LTM
Acquisitions(2)
LTM Price
Change %(3)
Revenue
Growth(4)
Marketing & Advertising 25 30 42.3% 17.3%
Life Sciences Software 4 7 20.0% 11.8%
CROs & Life Sciences Services 7 22 12.6% 5.4%
Healthcare Software & Data 10 7 42.5% 17.5%
Healthcare Services 4 2 21.2% 15.1%
Business Process Outsourcing 11 8 8.4% 18.1%
Corporate & Business Solutions
Public Market Summary
Highlighted Software Subsectors
To View Section, Click Section Name
High Growth Industry(1)
(1) Top 5 Industries with the highest aggregate YoY CY21A – CY22E median revenue growth rate
(2) LTM Acquisitions represent count of total acquisitions by MPG-covered companies in LTM within the respective subsectors
(3) LTM Price Change % represents price change of a market cap weighted index comprised of all category constituents
(4) Revenue Growth represents YoY CY21A – CY22E average revenue growth
Source: S&P Capital IQ
Business Infrastructure Solutions
Healthcare & Life Sciences
Subsector
Company
Count
LTM
Acquisitions(2)
LTM Price
Change %(3)
Revenue
Growth(4)
IT Services
Security Software 19 20 19.4% 24.0%
Commerce & Supply Chain Mgmt. 21 24 33.0% 16.7%
Small Cap IT 12 8 14.6% 10.6%
Large Cap IT 13 61 16.3% 6.7%
10. 10
Category (Company
Count)
Description
Avg. % of
52-Week
High
EV / Revenue EV / EBITDA
Total LTM
Acquisitions(4)
Avg.(2) YoY %(3) Avg.(2) YoY %(3)
Accounting &
Fintech (26)
Solutions and services that plan, document, and
execute financial transactions and accounting entries
57.0% 6.31x 43.5% 17.8x 27.2% 29
Communications &
Collaboration (22)
Solutions that unify stakeholders and help people work
on common tasks and manage projects
41.5% 6.50x 49.5% 17.2x 2.2% 13
Compliance &
Legal (9)
Solutions that detect, assess, and mitigate compliance
and regulatory risks
72.5% 7.05x 36.6% 23.8x 13.7% 8
Content
Management (7)
Solutions that collect, deliver, retrieve, govern and
manage information in any format
63.2% 4.44x 53.6% 16.5x 24.3% 7
Global
Diversified (10)
Global technology vendors with solutions that cover
business needs across multiple industries
73.0% 5.44x 29.4% 15.0x 15.5% 48
Human Resources &
Labor (17)
Solutions and services that manage recruiting, training,
payroll, performance management, and other HR
functions
63.5% 7.06x 38.1% 26.9x 12.1% 10
Marketing &
Advertising (25)
Solutions that plan, execute, and measure marketing
and advertising activities
43.0% 4.11x 60.4% 13.3x 15.6% 30
Verticalized
Platforms (15)
Solutions focused on the unique needs and
requirements of specific end-markets
59.7% 5.52x 39.9% 20.3x 19.8% 17
Public Market Summary
Corporate & Business Solutions
High Growth Industry(1)
(1) Top 5 Industries with the highest aggregate YoY CY21A – CY22E median revenue growth rate
(2) Average of CY21A multiples
(3) YoY % represents year-over-year growth of LTM multiples
(4) LTM Acquisitions represent MPG covered companies’ total acquisitions by subsector
Sources: S&P Capital IQ, Pitchbook
11. 11
(1) Financial metrics averaged by grouping of market EV / Revenue multiples
Note: EBITDA margins below 0% were omitted for the purposes of this analysis, companies that do not meet the threshold are shown as naught
Source: S&P Capital IQ
Public Market Valuation Benchmarking
Corporate & Business Solutions
Verticalized Platforms
Human Resources & Labor Marketing & Advertising
Accounting & Fintech Content Management
Communications & Collaboration Compliance & Legal
Global Diversified
LTM YoY Revenue Growth LTM EBITDA Margin %
LTM EV / Revenue(1)
LTM EV / Revenue(1)
17%
31%
27%
16% 17%
-
<5x 5x-15x >15x
14%
12%
-
30% 30%
-
<5x 5x-15x >15x
6%
12%
-
14%
17%
-
<5x 5x-15x >15x
7%
16%
-
21%
36%
-
<5x 5x-15x >15x
8%
20%
-
12%
21%
-
<5x 5x-15x >15x
13%
25%
28%
16% 16%
11%
<5x 5x-15x >15x
11%
18%
-
19%
30%
-
<5x 5x-15x >15x
16%
11%
-
20%
23%
-
<5x 5x-15x >15x
21. 21
Category (Company
Count)
Description
Avg. % of
52-Week
High
EV / Revenue EV / EBITDA
Total LTM
Acquisitions(4)
Avg.(2) YoY %(3) Avg.(2) YoY %(3)
Commerce &
Supply Chain
Management (21)
Technology solutions, services, and hardware involved
in the creation, distribution, and sale of products
52.3% 6.89x 51.2% 27.6x 13.3% 24
Engineering &
Design (15)
Solutions that generate, manage and communicate
product design intent and constructability
68.8% 8.99x 37.1% 27.7x 21.2% 30
Industrial &
Manufacturing (15)
Solutions used in engineering and manufacturing to
make production faster, simpler, and more efficient
72.0% 4.49x 28.5% 18.6x 28.3% 35
Location &
Telematics (7)
Solutions and hardware that collect, transmit, and
analyze geolocation data
48.2% 3.98x 22.7% 18.7x 30.1% 1
Public Market Summary
Industrial Tech
High Growth Industry(1)
(1) Top 5 Industries with the highest aggregate YoY CY21A – CY22E median revenue growth rate
(2) Average of CY21A multiples
(3) YoY % represents year-over-year growth of LTM multiples
(4) LTM Acquisitions represent MPG covered companies’ total acquisitions by subsector
Sources: S&P Capital IQ, Pitchbook
22. 22
Location & Telematics
LTM YoY Revenue Growth LTM EBITDA Margin %
Public Market Valuation Benchmarking
Industrial Software
(1) Financial metrics averaged by grouping of market EV / Revenue multiples
Note: EBITDA margins below 0% were omitted for the purposes of this analysis, companies that do not meet the threshold are shown as naught
Sources: S&P Capital IQ
LTM EV / Revenue(1)
Engineering & Design Industrial & Manufacturing
Commerce & Supply Chain Mgmt.
12%
22% 20%
12%
21%
38%
<5x 5x-15x >15x
2%
13%
-
15%
24%
-
<5x 5x-15x >15x
7%
10%
-
19%
32%
-
<5x 5x-15x >15x
5%
42%
-
16%
- -
<5x 5x-15x >15x
28. 28
Category (Company
Count)
Description
Avg. % of
52-Week
High
EV / Revenue EV / EBITDA
Total LTM
Acquisitions(4)
Avg.(2) YoY %(3) Avg.(2) YoY %(3)
Life Sciences
Software (4)
Clinical trial management, medical affairs, quality
management and commercialization software for
medical device, biotech and pharmaceutical
organizations
61.7% 6.41x 37.8% 23.9x 22.6% 7
CROs &
Life Sciences Services
(7)
Solutions and medical research services to support the
medical device, biotech, and pharmaceutical
organizations
71.0% 5.06x 21.7% 19.1x 23.0% 22
Healthcare Software
& Data (10)
Software and data solutions for
payors/providers/patients, prescription procurement
and medication management tools
45.6% 6.60x 44.1% 18.8x 19.8% 7
Healthcare
Services (4)
Payors/providers/patients-focused admin, operational
and financial services including EHR, practice
management, and revenue cycle management
94.0% 4.02x 32.6% 20.9x 2.7% 2
Public Market Summary
Healthcare & Life Sciences
High Growth Industry(1)
(1) Top 5 Industries with the highest aggregate YoY CY21A – CY22E median revenue growth rate
(2) Average of CY21A multiples
(3) YoY % represents year-over-year growth of LTM multiples
(4) LTM Acquisitions represent MPG covered companies’ total acquisitions by subsector
Sources: S&P Capital IQ, Pitchbook
29. 29
Public Market Valuation Benchmarking
Healthcare & Life Sciences
Life Sciences Software(2) Healthcare Services
CROs & Life Sciences Services Healthcare Software & Data
LTM YoY Revenue Growth LTM EBITDA Margin %
(1) Financial metrics averaged by grouping of market EV / Revenue multiples
Note: EBITDA margins below 0% were omitted for the purposes of this analysis, companies that do not meet the threshold are shown as naught
Sources: S&P Capital IQ
LTM EV / Revenue(1)
11%
-
18%
16%
-
28%
<5x 5x-15x >15x
6%
10%
-
22%
28%
-
<5x 5x-15x >15x
14%
-
30%
9%
-
26%
<5x 5x-15x >15x
8%
32%
-
16%
18%
-
<5x 5x-15x >15x
30. 30
Comparable Public Companies
Life Sciences Software
$ in million ex. Per Share Amounts
(1) Currency normalized to USD, on share price date
(2) Wall Street consensus estimates
(3) EV / Revenue and EV / EBITDA multiples in excess of 50.0x or less than 0.0x are considered not meaningful
(4) Dry Powder - Greater of: [(125% of Rec. Rev. less Debt) + (50% of Cash & C.E.) + (20% of Mkt. Cap.)] or [(6x EBITDA less Debt) + (50% of Cash & C.E.) + 20% of Mkt. Cap.)]
Share Price % 52-Wk Market Enterprise Revenue Metrics
(2)
Profitability Margins
(2)
EV / Revenue EV / EBITDA
(3)
Dry TTM
Company(1) 7/31/2022 High Cap Value CY21A CY22E Y/Y
Growth
% Rec TTM GM TTM EBITDA CY22E
EBITDA
CY21A CY22E CY21A CY22E Powder(4) Acqs.
Model N $25.12 62.8% $925 $904 $216 $243 12.5% 72.1% 55.2% n/m 11.4% 4.18x 3.72x 32.6x 26.8x $457 1
Veeva Systems $223.58 65.0% $36,338 $35,152 $1,846 $2,171 17.6% 80.5% 72.6% 27.7% 35.9% 19.05x 16.19x 45.1x 40.6x $11,029 1
Instem $8.52 76.9% $206 $189 $75 $83 10.4% 59.9% 41.4% 13.5% 16.3% 2.52x 2.28x 14.0x 10.7x $99 3
IQVIA $240.27 84.1% $44,812 $56,436 $14,515 $15,909 9.6% 38.5% 34.4% 18.9% 21.1% 3.89x 3.55x 16.8x 15.3x $16,478 2
Mean 61.7% $22,934 $25,713 $6,815 $7,261 11.8% 62.8% 61.4% 20.5% 21.4% 6.41x 5.58x 23.9x 20.5x $7,016 1.8
Median 67.0% $7,358 $6,768 $916 $1,035 10.0% 66.0% 61.6% 20.3% 22.2% 4.49x 3.91x 21.1x 19.6x $5,743 1.5
31. 31
Comparable Public Companies
CROs & Life Sciences Services
$ in million ex. Per Share Amounts
(1) Currency normalized to USD, on share price date
(2) Wall Street consensus estimates
(3) EV / Revenue and EV / EBITDA multiples in excess of 50.0x or less than 0.0x are considered not meaningful
(4) Dry Powder - Greater of: [(125% of Rec. Rev. less Debt) + (50% of Cash & C.E.) + (20% of Mkt. Cap.)] or [(6x EBITDA less Debt) + (50% of Cash & C.E.) + 20% of Mkt. Cap.)]
Share Price % 52-Wk Market Enterprise Revenue Metrics
(2)
Profitability Margins
(2)
EV / Revenue EV / EBITDA
(3)
Dry TTM
Company(1) 7/31/2022 High Cap Value CY21A CY22E Y/Y
Growth
% Rec TTM GM TTM EBITDA CY22E
EBITDA
CY21A CY22E CY21A CY22E Powder(4) Acqs.
Bruker $68.55 74.2% $10,282 $10,751 $2,554 $2,683 5.1% 21.0% 50.8% 20.6% 21.2% 4.21x 4.01x 18.9x 17.3x $4,295 -
Icon $241.25 77.1% $20,070 $24,696 $7,756 $8,346 7.6% 100.0% 27.7% 16.3% 17.5% 3.18x 2.96x 16.9x 15.2x $6,487 1
Certara $22.99 50.5% $3,675 $3,800 $356 $413 15.9% 30.2% 60.7% 24.2% 31.3% 10.67x 9.21x 29.4x 25.0x $954 3
Charles River Laboratories $250.54 54.4% $12,798 $16,008 $3,898 $4,372 12.2% 78.5% 37.4% 27.0% 23.6% 4.11x 3.66x 15.5x 13.8x $5,276 4
PerkinElmer $153.17 75.4% $19,362 $23,673 $4,626 $4,009 (13.3%) 26.5% 55.7% 34.5% 33.8% 5.12x 5.90x 17.5x 18.9x $9,785 4
Syneos Health $79.14 76.0% $8,138 $11,139 $5,549 $5,928 6.8% n/a 23.7% 13.2% 14.3% 2.01x 1.88x 13.2x 11.9x $2,861 4
Thermo Fisher Scientific $598.41 89.0% $235,926 $264,415 $43,098 $44,581 3.4% 21.5% 46.6% 29.8% 26.7% 6.14x 5.93x 22.2x 21.2x $94,387 6
Mean 71.0% $44,322 $50,640 $9,691 $10,047 5.4% 46.3% 43.2% 23.7% 24.0% 5.06x 4.79x 19.1x 17.6x $17,721 3.7
Median 75.4% $12,798 $16,008 $4,626 $4,372 6.8% 28.4% 46.6% 24.2% 23.6% 4.21x 4.01x 17.5x 17.3x $5,276 4.0
32. 32
Comparable Public Companies
Healthcare Software & Data
$ in million ex. Per Share Amounts
(1) Currency normalized to USD, on share price date
(2) Wall Street consensus estimates
(3) EV / Revenue and EV / EBITDA multiples in excess of 50.0x or less than 0.0x are considered not meaningful
(4) Dry Powder - Greater of: [(125% of Rec. Rev. less Debt) + (50% of Cash & C.E.) + (20% of Mkt. Cap.)] or [(6x EBITDA less Debt) + (50% of Cash & C.E.) + 20% of Mkt. Cap.)]
Share Price % 52-Wk Market Enterprise Revenue Metrics
(2)
Profitability Margins
(2)
EV / Revenue EV / EBITDA
(3)
Dry TTM
Company(1) 7/31/2022 High Cap Value CY21A CY22E Y/Y
Growth
% Rec TTM GM TTM EBITDA CY22E
EBITDA
CY21A CY22E CY21A CY22E Powder(4) Acqs.
Allscripts Healthcare $15.82 68.0% $1,869 $2,184 $613 $652 6.3% 81.0% 49.5% 9.0% 26.0% 3.56x 3.35x 12.9x 11.7x $1,946 -
Definitive Healthcare $25.98 51.7% $2,537 $3,220 $223 $284 27.2% n/a 88.2% 19.1% 22.0% 14.43x 11.35x n/m 34.0x $622 -
Doximity $42.32 39.3% $9,254 $9,142 $340 $456 34.1% 93.0% 88.4% 33.5% 32.1% 26.90x 20.05x n/m 47.4x $2,597 -
Health Catalyst $16.74 28.1% $918 $968 $291 $350 20.2% 90.0% 48.7% n/m n/m 3.33x 2.77x n/m n/m $569 1
NextGen Healthcare $17.12 78.3% $1,171 $1,148 $595 $628 5.5% 90.3% 55.0% 4.8% 18.9% 1.93x 1.83x 9.7x 10.4x $936 -
Omnicell $110.12 58.8% $5,060 $5,408 $1,396 $1,574 12.8% 28.7% 48.6% 11.6% 15.7% 3.88x 3.44x 21.9x 17.8x $1,575 1
Phreesia $23.49 30.9% $1,255 $1,000 $211 $274 30.1% 80.0% 60.7% n/m n/m 4.75x 3.65x n/m n/m $518 1
Tabula Rasa HealthCare $4.45 10.2% $106 $487 $281 $313 11.4% 46.3% 28.7% n/m 3.6% 1.73x 1.56x 43.0x 25.4x $225 -
GoodRx $6.23 13.0% $2,470 $2,325 $815 $977 19.9% 11.3% 93.8% 8.4% 20.5% 2.85x 2.38x 11.6x 8.5x $1,028 2
HealthStream $24.06 78.0% $737 $724 $270 $290 7.5% 95.5% 65.4% 11.6% 18.1% 2.68x 2.50x 13.8x 12.7x $476 2
Mean 45.6% $2,538 $2,661 $503 $580 17.5% 68.5% 62.7% 14.0% 19.6% 6.60x 5.29x 18.8x 21.0x $1,049 1.4
Median 45.5% $1,562 $1,666 $315 $403 16.3% 81.0% 57.8% 11.6% 19.7% 3.44x 3.06x 13.4x 15.3x $779 1.0
33. 33
Comparable Public Companies
Healthcare Services
$ in million ex. Per Share Amounts
(1) Currency normalized to USD, on share price date
(2) Wall Street consensus estimates
(3) EV / Revenue and EV / EBITDA multiples in excess of 50.0x or less than 0.0x are considered not meaningful
(4) Dry Powder - Greater of: [(125% of Rec. Rev. less Debt) + (50% of Cash & C.E.) + (20% of Mkt. Cap.)] or [(6x EBITDA less Debt) + (50% of Cash & C.E.) + 20% of Mkt. Cap.)]
Share Price % 52-Wk Market Enterprise Revenue Metrics
(2)
Profitability Margins
(2)
EV / Revenue EV / EBITDA
(3)
Dry TTM
Company(1) 7/31/2022 High Cap Value CY21A CY22E Y/Y
Growth
% Rec TTM GM TTM EBITDA CY22E
EBITDA
CY21A CY22E CY21A CY22E Powder(4) Acqs.
Allscripts Healthcare $15.82 68.0% $1,869 $2,184 $613 $652 6.3% 81.0% 49.5% 9.0% 26.0% 3.56x 3.35x 12.9x 11.7x $1,946 -
Definitive Healthcare $25.98 51.7% $2,537 $3,220 $223 $284 27.2% n/a 88.2% 19.1% 22.0% 14.43x 11.35x n/m 34.0x $622 -
Doximity $42.32 39.3% $9,254 $9,142 $340 $456 34.1% 93.0% 88.4% 33.5% 32.1% 26.90x 20.05x n/m 47.4x $2,597 -
Health Catalyst $16.74 28.1% $918 $968 $291 $350 20.2% 90.0% 48.7% n/m n/m 3.33x 2.77x n/m n/m $569 1
NextGen Healthcare $17.12 78.3% $1,171 $1,148 $595 $628 5.5% 90.3% 55.0% 4.8% 18.9% 1.93x 1.83x 9.7x 10.4x $936 -
Omnicell $110.12 58.8% $5,060 $5,408 $1,396 $1,574 12.8% 28.7% 48.6% 11.6% 15.7% 3.88x 3.44x 21.9x 17.8x $1,575 1
Phreesia $23.49 30.9% $1,255 $1,000 $211 $274 30.1% 80.0% 60.7% n/m n/m 4.75x 3.65x n/m n/m $518 1
Tabula Rasa HealthCare $4.45 10.2% $106 $487 $281 $313 11.4% 46.3% 28.7% n/m 3.6% 1.73x 1.56x 43.0x 25.4x $225 -
GoodRx $6.23 13.0% $2,470 $2,325 $815 $977 19.9% 11.3% 93.8% 8.4% 20.5% 2.85x 2.38x 11.6x 8.5x $1,028 2
HealthStream $24.06 78.0% $737 $724 $270 $290 7.5% 95.5% 65.4% 11.6% 18.1% 2.68x 2.50x 13.8x 12.7x $476 2
Mean 45.6% $2,538 $2,661 $503 $580 17.5% 68.5% 62.7% 14.0% 19.6% 6.60x 5.29x 18.8x 21.0x $1,049 1.4
Median 45.5% $1,562 $1,666 $315 $403 16.3% 81.0% 57.8% 11.6% 19.7% 3.44x 3.06x 13.4x 15.3x $779 1.0
35. 35
Category (Company
Count)
Description
Avg. % of
52-Week
High
EV / Revenue EV / EBITDA
Total LTM
Acquisitions(4)
Avg.(2) YoY %(3) Avg.(2) YoY %(3)
Business Intelligence &
Analytics (23)
Strategies and technologies used to provide data
analysis of historical, current, and predictive views of a
business
42.4% 6.32x 53.3% 19.6x 2.0% 19
Data Solutions &
Infrastructure (17)
Solutions that collect, manage, and store valuable
structured and unstructured information
53.9% 12.02x 17.0% 21.8x 15.4% 28
Payments (31)
Solutions that facilitate financial transactions between
two or more parties, such as merchants and customers
58.8% 6.94x 47.9% 12.7x 28.3% 49
Security Solutions (20)
Offers protection of computer systems and networks
from information disclosure, theft of or damage
60.3% 11.02x 30.1% 24.1x 1.2% 20
Public Market Summary
Business Infrastructure Solutions
High Growth Industry(1)
(1) Top 5 Industries with the highest aggregate YoY CY21A – CY22E median revenue growth rate
(2) Average of CY21A multiples
(3) YoY % represents year-over-year growth of LTM multiples
(4) LTM Acquisitions represent MPG covered companies’ total acquisitions by subsector
Sources: S&P Capital IQ, Pitchbook
36. 36
Public Market Valuation Benchmarking
Business Infrastructure Solutions
LTM YoY Revenue Growth LTM EBITDA Margin %
(1) Financial metrics averaged by grouping of market EV / Revenue multiples
Note: EBITDA margins below 0% were omitted for the purposes of this analysis, companies that do not meet the threshold are shown as naught
Sources: S&P Capital IQ
Data Solutions & Infrastructure
Business Intelligence & Analytics Payments Security Solutions
LTM EV / Revenue(1)
20%
22%
36%
23%
19%
-
<5x 5x-15x >15x
11%
17%
44%
27%
34%
40%
<5x 5x-15x >15x
20%
65%
33%
37%
-
<5x 5x-15x >15x
14%
25%
31%
23%
29%
54%
<5x 5x-15x >15x
(2%)
42. 42
Category (Company
Count)
Description
Avg. % of
52-Week
High
EV / Revenue EV / EBITDA
Total LTM
Acquisitions(4)
Avg.(2) YoY %(3) Avg.(2) YoY %(3)
BPO Services (11)
External services providers of business process
functions, such as payroll, accounting, data recording,
analytics, etc..
58.5% 7.49x 16.9% 18.2x 5.8% 8
Small Cap IT Services
(12)
Advisory services that help clients assess different
technology strategies that align with their business
strategy
74.0% 1.65x 8.1% 10.2x 22.4% 8
Large Cap IT Services
(13)
Solutions that facilitate financial transactions between
two or more parties, such as merchants and customers
65.3% 2.25x 28.5% 12.5x 10.1% 61
Public Market Summary
IT Services
High Growth Industry(1)
(1) Top 5 Industries with the highest aggregate YoY CY21A – CY22E median revenue growth rate
(2) Average of CY21A multiples
(3) YoY % represents year-over-year growth of LTM multiples
(4) LTM Acquisitions represent MPG covered companies’ total acquisitions by subsector
Sources: S&P Capital IQ, Pitchbook
43. 43
Public Market Valuation Benchmarking
IT Services LTM YoY Revenue Growth LTM EBITDA Margin %
(1) Financial metrics averaged by grouping of market EV / Revenue and EV / EBITDA multiples
Note: EBITDA margins below 0% were omitted for the purposes of this analysis, companies that do not meet the threshold are shown as naught
Sources: S&P Capital IQ
BPO – EV / Revenue Large Cap IT Services – EV / Revenue Small Cap IT Services – EV / Revenue
BPO – EV / EBITDA Large Cap IT Services – EV / EBITDA Small Cap IT Services – EV / EBITDA
LTM EV / Revenue(1)
LTM EV / EBITDA(1)
6%
24%
11%
10%
16%
22%
<1x 1x-3x >3x
6%
10%
11%
10%
18%
22%
<10x 10x-20x >20x
7%
19%
12%
8%
16%
18%
<1x 1x-3x >3x
7% 7%
10%
10%
15%
19%
<10x 10x-20x >20x
15%
19%
10%
19%
18%
<1x 1x-3x >3x
8%
19%
17%
16%
18%
<10x 10x-20x >20x
(5%)
(3%)
48. 48
$30+
BILLION IN DEAL VALUE
Growth Stage
FOCUSED ON TRANSACTIONS WITH $100-500 MILLION ENTERPRISE VALUE
30%+
REPEAT CLIENTS (1)
21
DEDICATED ADVISORS
220+
COMPLETED TRANSACTIONS
(1) Calculated as total clients divided by clients completing more than one transaction with MPG
over client relationship, inclusive of investor relationships
(2) Select deals completed in the last ten years
We specialize in impacting
growth strategies to optimize
shareholder value creation
We partner with global
technology clients across North
America and Europe
We marry thoughtful corporate
strategy planning with stalwart
transactional execution
E X P E R T I S E
F O C U S S T R A T E G Y
Domain experts with active
relationships across +1,500
global investors
R E S O U R C E S
48
40%+
SPONSOR-BACKED CLIENTS
~30%
CROSS-BORDER DEALS (1)
Madison Park Group
Advisors to the Technology Economy
Our Deep Sector Expertise Drives
Better Outcomes (2)
Industrial
Software
Enterprise Software
& Technology
Healthcare &
Life Sciences
Tech-Enabled &
Business Services
36%
33%
23%
8%
49. 49
Senior Leadership Team
20+ Years Average Investment Banking & Technology Advisory Experience
Jonathan Adler
Managing Director
Email | LinkedIn
Jeff Herriman
Managing Director
Email | LinkedIn
Rohan Khanna
Managing Director
Email | LinkedIn
Michael Magruder
Managing Director
Email | LinkedIn
R. Drew Ogden
Managing Director
Email | LinkedIn
Christian Vansant
Managing Director
Email | LinkedIn
Ralph Verrilli
Managing Director
Email | LinkedIn
Highlight Areas of Expertise
✓ EHSQ Tech
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Software
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Highlight Areas of Expertise
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✓ Managed IT Services
✓ Marketing Tech
Scott Boutwell
Managing Director
Email | LinkedIn
Highlight Areas of Expertise
✓ Construct Tech
✓ EHSQ Tech
50. 50
Select Recent Transactions
Right People, Right Narrative, Right Time
Click here for our full transaction list
Strategic Sale
PE-Backed
Minority Investment
Founding Team
Strategic Sale
Founding Team
Strategic Sale
Founding Team
Strategic Sale
PE-Backed
Financial Sale
Founding Team
Merger With
Founding Team
Strategic Sale
VC-Backed
Strategic Sale
VC-Backed
Financial Sale
PE-Backed
Financial Sale
Founding Team
Financial Sale
PE-Backed
Strategic Sale
Founding Team
Financial Sale
PE-Backed
Financial Sale
Founding Team
Financial Sale
Founding Team
Acquisitions Of
PE-Backed
Strategic Sale
Founding Team
51. 51
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See our 2021 Report
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52. 52
This presentation has been prepared by Madison Park Group and may only be used for informational purposes. This presentation provides an overview of public equities for software and
technology companies and is not intended to be taken by, and should not be taken by, any individual recipient as investment advice, a recommendation to buy, hold or sell any security, or an
offer to sell or a solicitation of offers to purchase any security. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there
can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this document, will be profitable, equal
any corresponding indicated historical performance level(s), or be suitable for your portfolio. Acceptance of this information further constitutes your acknowledgement and agreement that
Madison Park Group does not make any express or implied representation or warranty as to the accuracy or completeness of the information contained herein and shall have no liability to the
recipient or its representatives relating to or arising from the use of the information contained herein or any omissions therefrom. Any use, disclosure, distribution, dissemination, copying or
reproduction of this information without prior written consent or approval from Madison Park Group is strictly prohibited. Any third-party trademarks, service marks, logos, and trade names
included in the report are property of their respective owners.
Madison Park Group, LLC provides independent financial advice on mergers, acquisitions, financial restructurings, private capital raising and similar corporate finance matters. Madison Park
Group is not a retail broker-dealer. This communication is not intended for retail consumption. The firm does not conduct underwriting activities, provide research or analyst reports or solicit or
carry accounts for, or offer or sell securities products to retail customers. Madison Park Group is regulated by the Financial Industry Regulatory Authority, Inc. (”FINRA”) as a FINRA Member Firm.
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information or services.
Sources & Notes
Data Sources
1. Pitchbook
2. S&P Capital IQ
3. Tracxn
4. Public company releases,
filings, and earnings transcripts
Journals & Other Media
1. CB Insights
2. CISION
3. Bloomberg
4. CNBC
5. Globe News Wire
6. Axios
7. Taulia
8. TechCrunch
9. Financial Post
10. Forbes
11. Thoma Bravo
12. Reuters
13. Vocera
14. Wall Street Journal
15. Barron’s
16. CoinDesk
Company References
1. Miscellaneous company and
press releases
Disclosures
New York
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New York, NY 10016
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Boston, MA 02110
New Hampshire
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Pennsylvania
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Wayne, PA 19087
52
Sources & Disclosures
Madison Park Group LLC