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TMT Mergers and Acquisitions

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TMT M&A DATABOOK

In association with:

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TMT M&A Databook 2013 1

TMT M&A DATABOOK

Worldwide06 Worldwide announced TMTM&A volumes

TMT M&A – sector breakdown

TMT M&A aggregate deal value

06 Quarterly series

Technology

Media and Entertainment

Telecoms

07 Worldwide Technology M&A by Sub Sector

07 Worldwide Media & Entertainment M&A by Sub Sector

07 Worldwide Telecoms M&A by Sub Sector

08 Tech M&A quarterly deal series

08 Telecoms M&A quarterly deal series

08 Media & Entertainment M&A quarterly deal series

08 Worldwide Completed M&A Fees by Sector (US$m)

08 Worldwide Completed M&A Fees by Sector (US$m)

09 Worldwide Announced TMT Comparative M&A Financial Advisor Rankings

TMT 1/1/2013 - 31/8/2013

TMT Full Year 2012

High Technology 1/1/2013 - 31/8/2013

High Technology Full Year 2012

Media & Entertainment 1/1/2013 - 31/8/2013

Media & Entertainment Full Year 2012

10 Telecommunications 1/1/2013 - 31/8/2013

Telecommunications Full Year 2012

10 Worldwide Announced Top TMT M&A Deals by Sub-Sector YTD* Technology

11 Worldwide Announced Top TMT M&A Deals by Sub-Sector YTD* Media & Entertainment

11 Worldwide Announced Top TMT M&A Deals by Sub-Sector YTD* Telecommunications

12 Worldwide Announced Private Equity-Backed

TMT M&A Volumes, TMT

High Technology

Media & Entertainment

Telecommunications

13 Worldwide Completed M&A Fees - Top Banks by Fees

TMT, YTD 2013

TMT, Full Year 2012

Technology, YTD 2013

Technology, Full Year 2012

14 Media & Entertainment, YTD 2013

Media & Entertainment, Full Year 2012

Telecoms, YTD 2013

Telecoms, Full Year 2012

EMEA16 EMEA Involvement Announced TMT M&A Volumes

TMT

High Technology

Media & Entertainment

Telecommunications

17 EMEA Technology M&A by Sub Sector

17 EMEA Media & Entertainment M&A by Sub Sector

17 EMEA Telecoms M&A by Sub Sector

18 EMEA Involvement Announced TMT Top Deals, YTD*Technology

18 EMEA Involvement Announced TMT Top Deals, YTD*Media & Entertainment

19 EMEA Involvement Announced TMT Top Deals, YTD*Telecommunications

19 EMEA completedM&A fees – top banks by fees

All Sectors, YTD 2013

All Sectors, full year 2012

20 TMT, YTD 2013

TMT, full year 2012

High Technology, YTD 2013

High Technology, full year 2012

21 Media & Entertainment, YTD 2013

Media & Entertainment, full year 2012

Telecoms, YTD 2013

High Technology, full year 2012

22 EMEA Involvement Announced TMT M&A Financial Advisor Rankings, TMT full year 2012

22 EMEA Involvement Announced TMT M&A Financial Advisor Rankings, high technology full year 2012

22 EMEA Involvement Announced TMT M&A Financial Advisor Rankings, Media & Entertainment 1/1/2013 -31/8/2013

22 EMEA Involvement Announced TMT M&A Financial Advisor Rankings, TMT 1/1/2013 - 31/8/2013

22 EMEA Involvement Announced TMT M&A Financial Advisor Rankings, high technology 1/1/2013 - 31/8/2013

22 EMEA Involvement Announced TMT M&A Financial Advisor Rankings, Media & Entertainment full year 2012

Table of data

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TMT M&A Databook 20132

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There had been more than US$240bn of tech and telecomdeals as the third quarter neared its end, led by VerizonCommunications’ US$130bn buyout of Vodafone Group’sstake in their wireless venture. That puts the three-monthperiod on pace to be the busiest since 2000, when AOLand Time Warner announced their merger, then valued atas much as US$186bn.

Tech and telecom deals have already helped push totalmergers and acquisitions volume in the quarter past theprevious one, with more than US$520bn in transactionsworldwide. The activity underscores how more companiesare finally making strategic moves to counter technologicaldisruption, said Jennifer Nason, managing director, globalhead of technology, media & telecom (TMT), InvestmentBanking at JPMorgan.

The fast pace of innovation, increasing competitivedynamics and the potential for increasing capital costshave created the perfect storm for strategic moves whichhad been contemplated for a while, said Nason, whoadvised Verizon on the wireless venture buyout and workedon Nokia’s proposed sale of its mobile-phone business toMicrosoft.

Vodafone’s sale of the stake in Verizon Wireless gives it awar-chest to make its own acquisitions whilesimultaneously making the UK wireless operator apotential target. The transaction also puts pressure oncompetitors such as AT&T Inc. to accelerate strategicchanges. Randall Stephenson, chief executive of AT&T, second in US mobile-phone customers to VerizonWireless, has said that Europe may offer attractive options for expansion and that his company would buy

wireless assets in Europe if they were available at the rightprice.

Verizon and Vodafone had discussed a buyout of thewireless stake on and off for a decade. For the UScompany, the case for full ownership became morecompelling with growth in mobile-data use by high-spending customers, allowing it to increase its offer to alevel acceptable to Vodafone.

The expectation that interest rates will rise has alsospurred some companies to act. Verizon took advantage ofthe favourable interest rate environment to borrow aboutUS$60bn to fund the wireless venture buyout.

Among handset makers, BlackBerry said last month itwas weighing a sale and has entered into a letter of intentagreement to sell to a consortium led by investor FairfaxFinancial. The US$4.7bn deal to take BlackBerry privatehas set a benchmark - or a floor - for any competing offersfor the beleaguered smartphone manufacturer over thenext six weeks.

Various potential trade and financial buyers - includingMicrosoft, China's Lenovo Group, Amazon, and TPGCapital - have been mentioned as possibilities over thecourse of the past month, however, industry analysts aresceptical that any rival bids will emerge.

BlackBerry has until November 4 to seek superior offers,which the Fairfax consortium has the right to match. Thegroup is looking to arrange finance for the acquisition withBank of America Merrill Lynch and BMO Capital Marketsand must complete its due diligence by the same date.

Meanwhile BlackBerry, which has lost out massively toApple and Samsung in the consumer market for

TMT M&A busiest since 2000

Christian Lesueur, ManagingDirector, Head of TMT InvestmentBanking, EMEA, UBS InvestmentBank

“The European telecom sector hasbeen and remains under pressurethrough a combination of macro,regulatory, competitive andtechnological factors. Operators havespent years rightly streamlining theiroperations and their portfolios. Butwith the continued deflationary top-line environment, operators areincreasingly looking to M&A as partof the solution. Firstly, to in-marketconsolidation to drive cash flowgrowth through synergies. Secondly,to convergence deals to securemulti-play capabilities as wetransition to unified communications.And, thirdly, to disposals to reduceleverage and continue to furtherfocus strategy and management.

Deals UBS has led this year such asVodafone/VZW, Vodafone KDG andTelefonica Deutschland epitomisesome of these themes.

Importantly, public marketinvestors have been generallysupportive of M&A in the sectorrecognising that consolidation is nownecessary. The highly attractive

financing market conditions haveenabled companies to pursueneeded inorganic moves; it is great tosee that all management teams haveremained disciplined and on pointwith regards to their strategiesreflecting the maturity of the sector.

Regulators will have to decidewhether to ease up on Europeanoperators and facilitate thisconsolidation as well theinvestments it enables in the service quality and breadth we allneed, or whether to continue to focus more on pricing. I hope theywill as Europe is falling behind inboth mobile and fixed broadband,which was not the case 10 years ago,is frustrating as a consumer, andsub-optimal for our economies. It interesting to note that 10 yearsago, Europe accounted for 5 of thetop 10 operators, today that numberis 2.”

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TMT M&A DATABOOK

smartphones, said at the end of last week that from nowon it was going to focus on what it terms enterprisecustomers - businesses, governments, legal firms andsecurity forces.

Lenovo Group, the world’s largest maker of personalcomputers, said this month that it is looking foracquisitions in PCs and smartphones.

Innovations from smartphones to social media are creating new opportunities for some companies and ruining the business models of others, drivingdealmaking in both cases. Verizon’s deal with Vodafone crowns a summer that saw Publicis Groupe SAand Omnicom Group Inc agree to combine to create aUS$35bn advertising powerhouse, as well as Microsoft’sUS$7.2bn bid for the Nokia mobile phone business andpatents.

Nokia’s future, meanwhile, has been a subject ofspeculation almost from the moment Apple launched the iPhone in 2007. Once the world’s leading mobile-phone manufacturer, Nokia has fallen badly behind Appleand Samsung, and the Windows Phone operating systemits devices run accounts for less than 5% of newsmartphones.

In North America, the bidding war for Sprint andClearwire raged throughout the first half of the year, finallyconcluding at the end of June when Dish abandoned itsUS$25.5bn bid for Sprint and withdrew its US$6.6bntender offer for Clearwire. Sprint purchased the shares ofClearwire it did not already own on July 10, and thefollowing day, Softbank bought 72% of Sprint forUS$21.6bn.

Still, much of the US wireless sector is in play, astelecoms vie for scale and spectrum. AT&T, which wasbarred from buying T-Mobile two years ago, is still workingon improving its spectrum holdings and bought LeapWireless for US$1.2bn at an 88% premium.

In the first half of 2013, Dish proved how much it wantsan operating wireless business. Since Sprint and Clearwirefailed, a bid for T-Mobile is thought to be feasible, althoughT-Mobile with greater firepower might buy Dish. T-Mobileis a fitting target for the newly strengthened Sprint, onceits merger with Softbank has settled.

4G auctions in Latin America will continue to take placein all the region’s countries and generate money for thenational governments. The major players, such as theMexico-based America Movil, Spain-based Telefonica,Italy-based TIM and the US-based NII Holdings will bid forthe remaining spectrum auctions to expand their networksand footprint. Satellite TV players like Sky, a joint ventureof Brazil-based Organizacoes Globo and the El Segundo,California-based DirecTV Group, will also bid for 4Gspectrum to improve its mobile services.

In Brazil 4G auctions will be launched by the year-end bythe local regulator Anatel and will offer the remaining 96spectrum lots that had not been sold in the 2012 auction.In Mexico, Eutelsat Communications purchased Satmex forUS$1.1bn on July 31.

In Europe, telecom companies such as Spain’s Telefonicaare looking to consolidate as growing data use demandsmore expensive networks and regulators restrict fees forservices like roaming. Long-expected deals are finallytaking place, with Telefonica and KPN of the Netherlands

Luc Dezert, Managing Director,Head for Telecom Europe at BNPParibas Corporate Finance

“A tsunami of M&A transactions is tobe expected in the Europeantelecom sector over the next fiveyears. After a period of low mergeractivity since 2005, four key factorssupport an acceleration of telecomdeals in Europe:

1. Convergence: pure play mobileoperators are squeezed in anincreasingly data centric andconvergent industry. Mobileoperators are relying on fixednetwork infrastructure to transfer asurging data traffic and need to facecompetition from quadruple-playoperators offering bundled packagesat discounted prices. In reaction,mobile operators are looking atcable or fibre operators acquisitionopportunities

2. Cost savings: the overall telecommarket size is expected to continue todecrease over the next years (2010-16CAGR of -2.2%) whereas competitionis further intensifying and investment

needs are increasing (fibre, LTE). Inreaction, operators look at in-countryconsolidations in order to maximisecost synergies

3. Financial flexibility: Europeanoperators are refocusing from aglobal to a regional footprintstrategy. Divestments of non-coreassets result in a greater financingflexibility and enable them toreinvest in core markets andcompete more effectively

4. Low valuations in a fragmentedmarket: Non-European operatorstake a mid-term view on theforthcoming harmonisation of theEuropean regulatory environmentwhich is expected to facilitate cross-border consolidations in afragmented market (more than 100mobile operators), to result inbenefits of scale and, ultimately, toclose the gap with superior telecomvaluation metrics in North Americaand in Asia

Out of a number of telecom M&Atransactions announced in 2013, thefour major ones are an illustrationeach of these factors: Vodafone –

KDG in Germany (Convergence),Telefonica Deutschland – EPlus inGermany (Cost savings), Vodafone –Verizon Wireless in the US (Strategicrefocus), America Movil – KPN in theNetherlands (Low valuations/European consolidation).

In an industry exposed totransforming evolutions (technology, business model,regulation), each European operatorhas become an actor, prey orpredator, of the marketconsolidation.”

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TMT M&A Databook 20134

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merging their German businesses O2 Deutschland and E-Plus, respectively, a transaction that has been anticipatedfor the last decade. Telefonica, which has been seeking toreduce its €48.6bn in debt, has also agreed to sell its Irishbusiness to Hutchison Whampoa of Hong Kong and to list40% of its Central American business.

Vivendi of France is making headway in its efforts to selloff telecom assets as a means to reduce debt and becomea media company, having selected the UAE’s Etisalat asthe buyer for its 53% stake in Maroc Telecom, selling forsome €4.2bn. With Maroc Telecom finally nearing aconclusion, Vivendi is set to focus on French cellularcompany SFR.

M&A in the Indian telecom sector is subdued by highspectrum and infrastructure costs. However, the Indiangovernment's latest move to hike foreign directinvestment's limit to 100% will allow existing foreignplayers to buy out the entire stake in the Indian entity andmay encourage new players to completely own the Indianarm.

Existing foreign players who own majority stakes or asignificant minority stake might want to increase theirholdings. Vodafone may want to buy out some of its

partners in Vodafone India. Vodafone owns 74% withPiramal Group chairman Ajay Piramal, Max Groupchairman Analjit Singh and IDFC as shareholders.

In April , South Korean telco giant KT dropped its bid tobuy a 53% stake in Maroc Telecom from Vivendi, after vyingwith bidders such as Ooredoo and Etisalat. After droppingits bid to buy a 53% stake in Maroc Telecom, South KoreanKT has now turned its attention to acquiring South AfricanTelcom’s iWayAfrica unit, an Internet service provider fully-owned by Telcom, although talks between iWayAfrica andKT have stalled.

Another common theme among some telecom firms islisting infrastructure assets in the form of trusts. Singaporehas been the stock exchange of choice for trust listings, butrecently, Malaysia and Thailand have also made it possibleto list business trusts. This has attracted a lot of interestamong telecoms looking to monetize their fixed assetssuch as their tower businesses. Thai telco True Corp isplanning a US$2.3bn listing of its towers and fibre opticsbusinesses and in Malaysia, telcos Axiata and Digi.Com areexploring trust listings. Singapore’s SingTel could also bemoving towards a business trust listing for its fibrebroadband network assets.

Daniel Domberger, Director,Livingstone Partners LLP

“The maturity of two key trends, at aparticular point in the economiccycle, is driving the current wave ofM&A activity in the TMT sector.

Maturity of enterprise/cloud andconsumer/mobile trendsBoth enterprise/cloud andconsumer/mobile technologymarkets have matured, and neitheroffers the organic growth prospectsit has done over the past five toseven years.

Meanwhile, established playershave large, defensible positions, andbarriers to entry are formidable.Organic growth is therefore difficult,and new markets largely blocked.

Defensive, opportunistic,consolidationIn this context, defensiveconsolidation (e.g., Microsoft/Nokia),stepping out of the public eye torespond to changes in the

marketplace (Dell) and consolidationof ownership (Verizon/Vodafone)have taken over as the key drivers oflarge-scale M&A activity. BlackBerry,a victim of changes in both theenterprise and consumer markets, isunlikely to remain independent forlong, and will be an opportunisticbolt-on for an established player.

What’s next? The next shift will be away fromdefensive moves, towards M&A

as a driver of growth. We expect this to become visible quite quickly,and certainly over the next 12-18months.

The deals themselves will besmaller, but more numerous, asactivity picks up in the mid-market –the traditional engine of growth anddevelopment.

The major corporate acquirers in the mid-market have beenthrough a period of intensivestrategic review over the past coupleof years.

They now have greater strategicclarity and an increased willingnessto consider growth by acquisition –be it of technology, talent, or marketentry. And they have the cash on thebalance sheet and the financingavailable to make these dealshappen.

This combination of growthambitions, strategic rationale, and available capital will driveincreasing M&A activity in the TMTsector and especially in the mid-market.”

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TMT M&A Databook 2013

TMT M&A DATABOOK

Global Data

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TMT M&A Databook 20136

TMT M&A DATABOOK

Note: *January 1 to August 31

Source: Thomson Reuters

200,000

150,000

100,000

50,000

02011 2013 YTD*2012 2013 YTD

annualisedTechnology Media & entertaiment Telecoms

TMT M&A – SECTOR BREAKDOWN

US$m

Note: *January 1 to August 31

Source: Thomson Reuters

500,000

400,000

300,000

200,000

100,000

0

Technology

MediaTelecoms

2011 2012 2013 YTD

TMT M&A AGGREGATE DEAL VALUE (2011 TO 2013 YTD)

US$m

Note: *January 1 to August 31

Source: Thomson Reuters

80,000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

1,500

1,200

900

600

TECHNOLOGY

US$m

Note: *January 1 to August 31

Source: Thomson Reuters

50,000

40,000

30,000

20,000

10,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

800

700

600

500

400

MEDIA AND ENTERTAINMENT

US$m

Note: *January 1 to August 31

Source: Thomson Reuters

60,000

50,000

40,000

30,000

20,000

10,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

250

200

150

100

50

TELECOMS

US$m

Worldwide announced TMT M&A volumes

Quarterly series

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TMT M&A Databook 2013 7

TMT M&A DATABOOK

Note: *To August 31

Source: Thomson Reuters

Computers & peripherals E-commerce/B2B Electronics Internet software & services IT consulting & Services Semiconductors

2011 2012

33,16515,675

4,471

26,535

42,17730,130

18,807

8,884

23,194

37,148

10,118

22,198

YTD 2013*

28,278

2,97811,499

10,786

12,580

7,603

WORLDWIDE TECHNOLOGY M&A BY SUB SECTOR

DEAL VALUE US$m

Note: *To August 31

Source: Thomson Reuters

Advertising & marketing Broadcasting Cablexxxxxxxxxx Other (including hotels and lodging, gaming and casinos)

2011 2012

33,0546,991

15,589

21,696

14,953

14,320

20,159

12,28914,662

34,145

YTD 2013*

22,502

26,76822,289

8,584

18,767

WORLDWIDE MEDIA & ENTERTAINMENT M&A BY SUB SECTOR

DEAL VALUE US$m

Note: * To August 31

Source: Thomson Reuters

Space and satellites Telecoms equipment Telecoms servicesWireless Other telecom

2011 2012

4,034 9,829

18,949

46,531

23,539

2,240 10,697

44,840

56,032

6,427

YTD 2013*

2,335

63,281

27,265

542 1,143

WORLDWIDE TELECOMS M&A BY SUB SECTOR

DEAL VALUE US$m

Sub-sector breakdowns

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TMT M&A Databook 20138

TMT M&A DATABOOK

Note: *To August 31

Source: Thomson Reuters

50,000

40,000

30,000

20,000

10,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

Computers & peripherals E-commerce/B2B Electronics

Internet software & services IT consulting & services Semiconductors

TECH M&A QUARTERLY DEAL SERIES

US$m

Note: **Hotels and lodging; casinos and gaming, *To August 31

Source: Thomson Reuters

40,000

35,000

30,000

25,000

20,000

15,000

10,000

5,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

Advertising & marketing Broadcasting Cable

Motion pictures / Audio visual Other*

MEDIA & ENTERTAINMENT M&A QUARTERLY DEAL SERIES

US$m

Note: * *To August 31

Source: Thomson Reuters

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

Space and satellites Telecoms equipment Telecoms services

Wireless Other telecom

0

10,000

20,000

30,000

40,000

50,000

60,000

TELECOMS M&A QUARTERLY DEAL SERIES

US$m

WORLDWIDE COMPLETED M&A FEES BY SECTOR (US$M)Macro sector YTD 2013* % of total

Financials 3,153 27.91

TMT combined 1,859 16.45

Energy and power 1,409 12.47

Materials 1,016 8.99

Industrials 985 8.72

Consumer staples 788 6.98

Technology 751 6.64

Healthcare 723 6.40

Real estate 569 5.04

Telecommunications 568 5.02

Media and entertainment 541 4.79

Consumer products and services 448 3.97

Retail 236 2.09

Government and agencies 112 0.99

Total 11,299

Source: Thomson Reuters/Freeman Consulting

WORLDWIDE COMPLETED M&A FEES BY SECTOR (US$M)Macro sector Full Year 2012 % of total

Financials 6,239 29.03

TMT combined 3,195 14.87

Energy and power 2,955 13.75

Industrials 2,067 9.62

Healthcare 1,810 8.42

Technology 1,739 8.09

Materials 1,728 8.04

Consumer staples 1,021 4.75

Consumer products and services 921 4.29

Telecommunications 760 3.54

Real estate 715 3.33

Media and entertainment 696 3.24

Retail 651 3.03

Government and agencies 188 0.87

Total 21,490

Source: Thomson Reuters/Freeman Consulting

M&A fee data

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TMT M&A Databook 2013

TMT M&A DATABOOK

TECHNOLOGY, FULL YEAR 2012Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 42 53,531 33.3

2 JP Morgan 32 37,072 23.1

3 Morgan Stanley 44 31,200 19.4

4 Credit Suisse 29 20,962 13.1

5 Deutsche Bank 22 18,488 11.5

6 Bank of America Merrill Lynch 16 16,872 10.5

7 Rothschild 14 16,288 10.1

8 Citigroup 11 12,769 8.0

9 UBS 14 11,628 7.2

10 Barclays 18 11,231 7.0

Total 4,904 160,566

Source: Thomson Reuters

MEDIA & ENTERTAINMENT, FULL YEAR 2012Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 25 28,681 24.8

2 JP Morgan 15 20,806 18.0

3 Credit Suisse 9 18,125 15.7

4 Citigroup 12 11,404 9.9

5 Morgan Stanley 18 11,369 9.8

6 Moelis 20 10,802 9.3

7 Deutsche Bank 14 10,334 8.9

8 UBS 14 9,901 8.6

9 Lazard 16 8,622 7.5

10 LionTree Advisors 3 7,164 6.2

Total 2,668 115,676

Source: Thomson Reuters

TECHNOLOGY, 1/1/2013 – 31/8/2013 Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 JP Morgan 19 39,892 38.2

2 Bank of America Merrill Lynch 12 36,824 35.3

3 Barclays 8 35,127 33.6

4 Deutsche Bank 16 34,569 33.1

5 Goldman Sachs 18 34,350 32.9

6 Credit Suisse 15 30,318 29.0

7 RBC Capital Markets 7 27,059 25.9

8 Evercore Partners 9 21,742 20.8

9 UBS 11 21,324 20.4

10 Citigroup 13 19,964 19.1

Total 2,894 104,468

Source: Thomson Reuters

MEDIA & ENTERTAINMENT, 1/1/2013 – 31/8/2013 Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 17 49,993 44.9

2 Bank of America Merrill Lynch 11 40,405 36.3

3 Morgan Stanley 11 33,173 29.8

4 Citigroup 18 31,971 28.7

5 JP Morgan 12 26,071 23.4

6 Deutsche Bank 7 24,208 21.8

7 Moelis 15 23,887 21.5

8 Centerview Partners 2 22,950 20.6

9 Rothschild 12 21,043 18.9

10 BNP Paribas 1 19,331 17.4

Total 1,672 111,300

Source: Thomson Reuters

Worldwide announced TMT comparative M&Afinancial advisor rankings

TMT, 1/1/2013 – 31/8/2013 Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 46 149,866 48

2 JP Morgan 38 108,817 35

3 Bank of America Merrill Lynch 27 90,260 29

4 Deutsche Bank 28 82,720 27

5 Citigroup 37 65,945 21

6 Credit Suisse 21 63,881 21

7 Morgan Stanley 37 62,919 20

8 UBS 20 51,443 17

9 LionTree Advisors 4 48,249 16

10 Barclays 16 40,193 13

Total 4,983 310,333

Source: Thomson Reuters

TMT, FULL YEAR 2012

Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 83 122,950 31.0

2 JP Morgan 62 96,385 24.3

3 Credit Suisse 50 78,258 19.7

4 UBS 43 76,241 19.2

5 Deutsche Bank 53 73,844 18.6

6 Morgan Stanley 82 71,261 18.0

7 Bank of America Merrill Lynch 38 55,876 14.1

8 Citigroup 44 55,679 14.0

9 Rothschild 42 49,938 12.6

10 Mizuho Financial Group 34 31,256 7.9

Total 8,297 396,479

Source: Thomson Reuters

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TMT M&A Databook 201310

TMT M&A DATABOOK

TECHNOLOGYValue Target Target Acquirer Acquirer Acquirer Seller

(US$m) Date name mid industry name mid industry ultimate parent Investor immediate parent

19,278.832 5/2/13 Dell Inc (US) Computers & Investor Group Other financials Investor Group (US) Silver Lake Partners –

peripherals

6,530.197 6/5/13 BMC Software Software BMC Software Other financials BMC Software Bain Capital /Golden Gate Capital/GIC Elliott

Inc (US) SPV (US) Special Invest Pte Ltd/Insight Venture Management

Partners Corp

5,834.400 26/7/13 Activision Software Activision Software Vivendi (FR) – Vivendi SA

Blizzard Inc (US) Blizzard

4,046.997 18/4/13 ista International Electronics CVC Capital Alternative financial CVC Capital – –

GmbH (GM) Partners investments Partners Ltd (UK)

2,545.464 4/6/13 ExactTarget Software Salesforce.com Software Salesforce.com – –

Inc (US) (US)

2,395.417 23/7/13 Sourcefire Computers & Cisco Systems Computers & Cisco Systems – –

Inc (US) peripherals Inc peripherals (US)

2,338.765 25/7/13 Activision Software ASAC II Other financials ASAC II (US) – Vivendi SA

Blizzard Inc (US)

1,850.000 16/7/13 91 Wireless Software Baidu (Hong Other financials Baidu (CH) – –

Websoft Ltd (CH) Kong)

1,661.933 4/2/13 Acme Packet Computers & Oracle Corp Software Oracle Corp (US) – –

Inc (US) peripherals

1,650.543 22/3/13 Dell Inc (US) Computers & Icahn Asset management Icahn Enterprises – –

peripherals Enterprises (US)

Source: Thomson Reuters

TELECOMMUNICATIONS , FULL YEAR 2012Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 UBS 15 54,712 45.5

2 Deutsche Bank 17 45,022 37.4

3 Goldman Sachs & Co 16 40,739 33.9

4 Credit Suisse 12 39,172 32.6

5 JP Morgan 15 38,507 32.0

6 Bank of America Merrill Lynch 15 34,946 29.1

7 Citigroup 21 31,505 26.2

8 Morgan Stanley 20 28,692 23.9

9 Rothschild 7 27,489 22.9

10 Mizuho Financial Group 3 22,318 18.6

Total 725 120,236

Source: Thomson Reuters

TELECOMMUNICATIONS, 1/1/2013 – 31/8/2013 Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 11 65,523 69.3

2 JP Morgan 7 42,855 45.3

3 RBS 2 34,157 36.1

4 Credit Suisse 3 26,786 28.3

5 LionTree Advisors 1 25,531 27.0

6 Deutsche Bank 5 23,943 25.3

7 Morgan Stanley 7 17,711 18.7

8 Citigroup 6 14,010 14.8

9 Bank of America Merrill Lynch 4 13,031 13.8

10 UBS 2 11,455 12.1

Total 417 94,566

Source: Thomson Reuters

Top 10 deals by sub-sector

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TMT M&A Databook 2013 11

TMT M&A DATABOOK

TELECOMMUNICATIONSValue Target Target Acquirer Acquirer Acquirer Seller

(US$m) Date name Mid industry name mid industry ultimate parent Investor immediate parent

25,531.002 5/2/13 Virgin Media Inc (US) Telecommunications Liberty Global Cable Liberty Global Inc (US) – –

services Inc

22,722.263 9/8/13 Koninklijke KPN NV (NT) Telecommunications America Movil Wireless America Movil SAB – –

services SAB de CV de CV (MX)

11,435.069 23/7/13 E-Plus Mobilfunk Wireless Telefonica Telecommunications Telefonica SA (SP) – –

GmbH & Co KG (GM) Deutschland services

Holding

4,064.224 12/7/13 Leap Wireless Intl Inc (US) Wireless AT&T Inc Wireless AT&T Inc (US) – –

3,550.000 27/3/13 Tele2 Russia Holding Telecommunications VTB Group Banks VTB Group (RS) – –

AB (RS) services

2,221.351 1/7/13 Nokia Siemens Wireless Nokia Oyj Telecommunications Nokia Oyj (FN) – –

Networks Oy (FN) equipment

2,200.000 23/7/13 LightSquared Inc (US) Wireless DISH Network Cable DISH Network Corp (US) – –

Corp

1,565.000 9/7/13 Turkcell Iletisim Wireless Cukurova Machinery Cukurova Holding AS (TK) – Alfa Group Consortium

Hizmetleri (TK) Holding AS

1,562.732 21/1/13 Optimus SGPS SA (PO) Telecommunications Zon Multimedia Cable Zon Multimedia (PO) – –

services

1,390.000 11/8/13 ARINC Inc (US) Telecommunications Rockwell Collins Professional Rockwell Collins Inc (US) – –

services Inc services

Source: Thomson Reuters

MEDIA & ENTERTAINMENTValue Target Target Acquirer Acquirer Acquirer Seller

(US$m) Date name Mid industry name mid industry ultimate parent Investor immediate parent

19,331.138 28/7/13 Omnicom Advertising Publicis Advertising & Publicis Groupe – –

Group Inc (US) & marketing Groupe SA marketing SA (FR)

16,700.000 12/2/13 NBCUniversal Broadcasting Comcast Corp Cable Comcast Corp (US) – –

Media LLC (US)

13,512.584 24/6/13 Kabel DeutschlandCable Vodafone Vierte Wireless Vodafone Group – –

Holding AG (GM) PLC (UK)

6,250.147 19/6/13 News Corp- Publishing Shareholders Other financials Shareholders (US) – –

Publishing

Business (US)

4,385.964 19/6/13 Springer Science+ Motion Investor Group Other financials Investor BC European Capital IX Government of Singapore

Business (GM) pictures/ Group (UK) Invest

audio visual

2,725.000 1/7/13 Local TV-Television Broadcasting Tribune Co Publishing Tribune Co (US) – –

Stn(19) (US)

2,674.000 19/3/13 Charter Cable Liberty Media Cable Liberty Media – Apollo Global Management

Communications Corp Corp (US) LLC/Oaktree Capital Group

Inc (US) LLC/Crestview Partners LP

2,141.786 13/6/13 Belo Corp (US) Broadcasting Gannett Co Inc Publishing Gannett Co Inc (US) – –

1,625.000 7/2/13 Optimum Cable Charter Cable Charter – –

West (US) Communications Communications

Inc Inc (US)

1,502.034 22/2/13 Grand Wailea Hotels and GIC Alternative financial GIC (SG) – –

Resort Hotel & (US) lodging investments

Source: Thomson Reuters

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TMT M&A Databook 201312

TMT M&A DATABOOK

Note: Buy-side Financial Sponsor Backing, ** 1/7/2013 - 31/8/2013

Source: Thomson Reuters

25,000

20,000

15,000

10,000

5,000

0Q

1 201

1

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

**

� Deal value ---- Number of deals

250

200

150

100

TECHNOLOGY

US$m

Note: Buy-side Financial Sponsor Backing, ** 1/7/2013 - 31/8/2013

Source: Thomson Reuters

15,0000

12,000

9,000

6,000

3,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value -- Number of deals

100

80

60

40

MEDIA & ENTERTAINMENT

US$m

Note: Buy-side Financial Sponsor Backing, ** 1/7/2013 - 31/8/2013

Source: Thomson Reuters

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value -- Number of deals

35

30

25

20

15

10

TELECOMMUNICATIONS

US$m

Note: Buy-side Financial Sponsor Backing, ** 1/7/2013 - 31/8/2013

Source: Thomson Reuters

30,000

25,000

20,000

15,000

10,000

5,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

250

200

150

100

50

TMT

US$m

Worldwide Announced Private Equity-BackedTMT M&A Volumes

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TMT M&A Databook 2013 13

TMT M&A DATABOOK

Worldwide completed M&A feesTop banks by fees

TMT, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

Goldman Sachs 1 14.08 262

JP Morgan 2 10.54 196

Morgan Stanley 3 6.20 115

Citigroup 4 4.69 87

Bank of America Merrill Lynch 5 4.13 77

Qatalyst Partners 6 3.19 59

Evercore Partners 7 3.12 58

Credit Suisse 8 2.92 54

RBC Capital Markets 9 2.84 53

Lazard 10 2.77 52

UBS 11 2.69 50

Barclays 12 2.66 49

Deutsche Bank 13 2.32 43

Jefferies 14 2.03 38

LionTree Advisors 15 1.81 34

Centerview Partners 16 1.75 33

Rothschild 17 1.38 26

Houlihan Lokey 18 1.11 21

CIBC World Markets Inc 19 1.08 20

Raymond James Financial Inc 20 1.05 20

Source: Thomson Reutersx

TMT, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

Morgan Stanley 1 7.26 232

Goldman Sachs 2 7.22 231

JP Morgan 3 6.60 211

Qatalyst Partners 4 5.17 165

Lazard 5 4.66 149

UBS 6 4.32 138

Deutsche Bank 7 3.59 115

Bank of America Merrill Lynch 8 3.44 110

Barclays 9 3.33 107

Citigroup 10 2.65 85

Rothschild 11 2.62 84

Credit Suisse 12 2.38 76

Moelis 13 2.17 69

Macquarie Group 14 2.03 65

Blackstone Group 15 1.76 56

Jefferies 16 1.74 56

Houlihan Lokey 17 1.48 47

Evercore Partners 18 1.40 45

RBC Capital Markets 19 1.21 39

Centerview Partners 20 1.17 37

Source: Thomson Reutersx

TECHNOLOGY, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

Goldman Sachs 1 12.87 97

JP Morgan 2 10.31 77

Qatalyst Partners 3 7.90 59

Morgan Stanley 4 4.41 33

Barclays 5 3.48 26

UBS 6 3.10 23

RBC Capital Markets 7 3.03 23

Evercore Partners 8 2.90 22

Jefferies 9 2.89 22

Lazard 10 2.89 22

Raymond James Financial 11 2.54 19

Bank of America Merrill Lynch 12 2.50 19

Deutsche Bank 13 2.43 18

Credit Suisse 14 2.32 17

Houlihan Lokey 15 1.74 13

Citigroup 16 1.73 13

Blackstone Group 17 1.48 11

Nomura 18 1.47 11

Wells Fargo 19 1.38 10

IMAP 20 1.34 10

Source: Thomson Reutersx

TECHNOLOGY, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

Morgan Stanley 1 10.78 187

Goldman Sachs 2 8.68 151

JP Morgan 3 7.64 133

Qatalyst Partners 4 6.47 112

Lazard 5 5.60 97

Bank of America Merrill Lynch 6 3.66 64

Barclays 7 3.24 56

Jefferies 8 2.33 40

Credit Suisse 9 2.29 40

Rothschild 10 2.24 39

UBS 11 2.24 39

Deutsche Bank 12 2.12 37

Blackstone Group 13 1.66 29

GCA Savvian Group Corp 14 1.64 28

Stifel/KBW 15 1.59 28

RBC Capital Markets 16 1.59 28

Evercore Partners 17 1.45 25

Centerview Partners 18 1.39 24

Houlihan Lokey 19 1.36 24

Raymond James Financial 20 1.36 24

Source: Thomson Reutersx

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TMT M&A Databook 201314

TMT M&A DATABOOK

MEDIA & ENTERTAINMENT, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

Goldman Sachs 1 11.77 64

Morgan Stanley 2 10.35 56

JP Morgan 3 8.13 44

Bank of America Merrill Lynch 4 6.62 36

LionTree Advisors 5 6.22 34

Citigroup 6 5.58 30

RBC Capital Markets 7 4.38 24

Centerview Partners 8 3.75 20

Lazard 9 3.16 17

Evercore Partners 10 2.94 16

Credit Suisse 11 2.92 16

Moelis 12 2.01 11

Greenhill & Co 13 1.98 11

Deutsche Bank 14 1.96 11

UBS 15 1.71 9

Peter J. Solomon 16 1.71 9

National Bank of Canada Fin 17 1.39 7

Alvarez & Marsal 18 1.33 7

Rothschild 19 1.23 7

Perella Weinberg Partners 20 1.16 6

Source: Thomson Reutersx

MEDIA & ENTERTAINMENT, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

Moelis 1 6.19 43

Citigroup 2 5.93 41

Lazard 3 5.20 36

Rothschild 4 4.31 30

Macquarie Group 5 3.87 27

JP Morgan 6 3.82 27

Goldman Sachs 7 3.72 26

UBS 8 3.21 22

Morgan Stanley 9 3.17 22

Blackstone Group 10 3.04 21

Deutsche Bank 11 2.95 21

Houlihan Lokey 12 2.51 17

Barclays 13 2.46 17

Bank of America Merrill Lynch 14 2.35 16

Greenhill & Co 15 2.02 14

Canaccord Genuity 16 1.72 12

Credit Suisse 17 1.66 12

Gleacher & Co 18 1.59 11

BNP Paribas 19 1.57 11

Evercore Partners 20 1.54 11

Source: Thomson Reutersx

TELECOMS, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

Goldman Sachs 1 17.88 101

JP Morgan 2 13.13 75

Citigroup 3 7.75 44

Morgan Stanley 4 4.62 26

Barclays 5 3.92 22

Bank of America Merrill Lynch 6 3.90 22

Credit Suisse 7 3.72 21

Evercore Partners 8 3.60 20

UBS 9 3.08 17

Rothschild 10 3.00 17

Mizuho Financial Group 11 2.65 15

Deutsche Bank 12 2.52 14

BMO Capital Markets 13 2.44 14

Lazard 14 2.25 13

The Raine Group 15 2.09 12

Jefferies 16 1.80 10

Centerview Partners 17 1.78 10

CIBC World Markets 18 1.71 10

Plutus Consulting Co 19 1.42 8

Falkenberg Capital Corp 20 1.15 7

Source: Thomson Reutersx

TELECOMS, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

UBS 1 10.10 77

Deutsche Bank 2 7.53 57

Goldman Sachs 3 7.10 54

Qatalyst Partners 4 6.96 53

JP Morgan 5 6.77 52

Barclays 6 4.34 33

Bank of America Merrill Lynch 7 3.92 30

Credit Suisse 8 3.24 25

Citigroup 9 3.00 23

Morgan Stanley 10 2.96 23

Macquarie Group 11 2.83 22

LionTree Advisors 12 2.14 16

Wells Fargo 13 2.13 16

Lazard 14 2.02 15

Moelis 15 1.99 15

Rothschild 16 1.93 15

Centerview Partners 17 1.71 13

Jefferies 18 1.60 12

TD Securities 19 1.47 11

HSBC Holdings 20 1.42 11

Source: Thomson Reutersx

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TMT M&A Databook 2013

TMT M&A DATABOOK

EMEA Data

Page 17: IFR_TMT_M_A_Databook_2013_low_res

TMT M&A Databook 201316

TMT M&A DATABOOK

Note: *To Aug 31 2013

Source: Thomson Reuters

30,000

25,000

20,000

15,000

10,000

5,000

0Q

1 201

1

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

500

400

300

200

TECHNOLOGY

US$m

Note: *To Aug 31 2013

Source: Thomson Reuters

25,000

20,000

15,000

10,000

5,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

500

400

300

200

100

MEDIA & ENTERTAINMENT

US$m

Note: *To Aug 31 2013

Source: Thomson Reuters

50,000

40,000

30,000

20,000

10,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

120

100

80

60

40

TELECOMMUNICATIONS

US$m

Note: *To Aug 31 2013

Source: Thomson Reuters

80,000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0

Q1 2

011

Q2

2011

Q3

2011

Q4

2011

Q1 2

012

Q2

2012

Q3

2012

Q4

2012

Q1 2

013

Q2

2013

Q3

2013

*

� Deal value ---- Number of deals

1,000

800

600

400

TMT

US$m

EMEA Involvement Announced TMT M&A volumes

Page 18: IFR_TMT_M_A_Databook_2013_low_res

TMT M&A Databook 2013 17

TMT M&A DATABOOK

Note: *To August 31

Source: Thomson Reuters

Space and satellites Telecoms equipment Telecoms servicesWireless Other telecom

2011 2012

560.9 5,639.7

2,530.8

24,660.5

11,350.02,087.1

1,065.7

19,701.5

29,445.7

82.2

YTD 2013*

4,748.1

79,396.9

59,954.3

700.0 7,847.5

EMEA TELECOMS M&A BY SUB SECTOR

DEAL VALUE US$m

Note: *To August 31

Source: Thomson Reuters

Computers & peripherals E-commerce/B2B Electronics

Internet software and services IT consulting and services Semiconductors

Software Other technology

2011 2012

5,303.0

4,402.42,108.8

8,685.0

21,653.77,622.9

1,655.31,402.7

11,436.0

13,082.93,188.8

12,817.4

YTD 2013*6,766.2

4,803.3

26,512.1

38,317.2

14,696.4

8,091.5

102.8

17,383.4

1,898.2

284.7

42,423.5

284.7

EMEA TECHNOLOGY M&A BY SUB SECTOR

DEAL VALUE US$m

Note: *To August 31 **including hotels and lodging; casinos and gaming

Source: Thomson Reuters

Advertising and marketing Broadcasting CableMotion pictures/audio visual Publishing Recreation and leisure Other**

2011 2012

4,443.4

2,829.9

5,447.8

10,843.0

8,346.1

8,356.4

4,793.1

1,573.73,875.8

11,588.9

YTD 2013*

11,817.1

155.83,134.4

743.5

10,521.5

3,111.6

9,068.6

952.7

4,540.8 1,795.16,125.4

EMEA MEDIA & ENTERTAINMENT M&A BY SUB SECTOR

DEAL VALUE US$m

Sub-sector breakdowns

Page 19: IFR_TMT_M_A_Databook_2013_low_res

TMT M&A Databook 201318

TMT M&A DATABOOK

TECHNOLOGYValue Target Target Acquirer Acquirer Acquirer Seller

(US$m) Date name mid industry name mid industry ultimate parent Investor immediate parent

5,834.400 25/7/13 Activision Blizzard Software Activision Blizzard Software Vivendi (FR) Vivendi SA –

Inc (US)

4,046.997 18/4/13 ista International GmbH Electronics CVC Capital Alternative financial CVC Capital Partners (UK) – –

(GM) Partners investments

2,338.765 25/7/13 Activision Blizzard Software ASAC II Other financials ASAC II (US) – Vivendi

Inc (US)

1,490.175 2/1/13 Cerved Group SpA (IT) Internet software CVC Capital Alternative financial CVC Capital Partners (UK) – Clessidra SGR

& services Partners investments –

821.466 22/4/13 Power-One Inc (US) Electronics ABB Other energy & power ABB (SZ) – –

668.519 19/7/13 Host Europe Group Ltd IT consulting Cinven Partners Alternative financial Cinven – –

(UK) & services investments

650.000 29/4/13 Eastman Kodak Electronics Kodak Pension Plan Insurance Kodak Pension Plan (UK) – –

Co-Personalized (US)

605.826 8/5/13 Civica PLC (UK) IT consulting OMERS Private Alternative financial OMERS (CA) – –

& services Equity investments

600.000 06/27/13 Neolane SA (FR) Software Adobe Systems Software Adobe Systems (US) – –

485.568 01/29/13 Ogone BVBA/SPRL (BL) E-commerce/ Ingenico Computers & Ingenico (FR) – –

peripherals

Note: * YTD = 01 Jan - 31 August 2013

Source: Thomson Reuters

MEDIA & ENTERTAINMENTValue Target Target Acquirer Acquirer Acquirer Seller

(US$m) Date name mid industry name mid industry ultimate parent Investor immediate parent

19,331.138 28/7/13 Omnicom Group Inc (US) Advertising & Publicis Groupe Advertising & Publicis Groupe (FR) – –

marketing marketing

13,512.584 24/6/13 Kabel Deutschland Cable Vodafone Vierte Wireless Vodafone Group (UK) – –

Holding AG (GM)

4,385.964 06/19/13 Springer Science+ Motion pictures/ Investor Group Other Financials Investor Group (UK) BC European Government of

Business (GM) audio visual Capital IX Singapore Invest

1,455.982 10/6/13 Vue Entertainment Motion pictures/ Investor Group Other Financials Investor Group (CA) Alberta Investment OMERS Private

Ltd (UK) audio visual Mgmt Corp Equity

1,221.617 25/7/13 Axel Springer-Regional Publishing Funke Publishing Funke Mediengruppe – –

Newspap (GM) Mediengruppe GmbH (GM)

GmbH

855.419 1/5/13 Greek Organisation Of Casinos & gaming Emma Delta Other Financials Emma Delta Management – Greece

Football (GR) Ltd (CY)

810.585 28/3/13 Ziggo NV (NT) Cable Liberty Global Cable Liberty Global (US) – Barclays Bank PLC

765.174 02/07/13 Parlophone Label Motion pictures/ Warner Music Group Motion picture/ Access Industries (US) – –

Group (UK) audio visual Corp audio visual

733.931 05/27/13 Club Mediterranee SA (FR) Hotels and lodging Gaillon Invest Other Financials AXA (FR) – –

637.272 03/01/13 William Hill Online (GI) Casinos & gaming William Hill Recreation & leisure William Hill (UK) – –

Note: * YTD = 01 Jan - 31 August 2013

Source: Thomson Reuters

Top 10 deals by sub-sector

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TMT M&A Databook 2013 19

TMT M&A DATABOOK

EMEA INVOLVEMENT ANNOUNCED TMT TOP DEALS, YTD*

TELECOMMUNICATIONSValue Target Target Acquirer Acquirer Acquirer Seller

(US$m) Date name mid industry name mid industry ultimate parent Investor immediate parent

22,658.587 9/8/13 Koninklijke KPN (NT) Telecomms America Movil Wireless America Movil SAB de CV – –

services SAB de CV (MX)

11,435.069 23/7/13 E-Plus Mobilfunk Wireless Telefonica Telecomms Telefonica (SP) – –

GmbH & Co (GM) Deutschland Holding services

3,550.000 27/3/13 Tele2 Russia Telecomms VTB Group Banks VTB Group (RS) – –

Holding (RS) services

2,221.351 1/7/13 Nokia Siemens Wireless Nokia Oyj Telecomms Nokia Oyj (FN) – –

Networks Oy (FN) equipment

2,100.000 22/7/13 UNE EPM Telecomms Millicom Intl Telecomms Millicom Intl Cellular (LX) – –

Telecomunicaciones services Cellular services

(CO)

1,565.000 9/7/13 Turkcell Iletisim Wireless Cukurova Holding Machinery Cukurova Holding (TK) – Alfa Group

Hizmetleri (TK) AS Consortium

1,562.732 21/1/13 Optimus SGPS (PO) Telecomms Zon Multimedia Cable Zon Multimedia (PO) – –

services

1,263.094 3/5/13 Bharti Airtel (IN) Wireless Qatar Foundation QSC Other financials Qatar Foundation QSC (QA) – –

1,142.000 31/7/13 SATMEX (MX) Space and Eutelsat Space and Eutelsat Communications – –

satellites Communications satellites (FR)

1,115.778 24/6/13 Telefonica Ireland Ltd (IR) Wireless Hutchison 3G Telecomms Hutchison Whampoa – –

Ireland services (HK)

Note: * YTD = 01 Jan - 31 August 2013

Source: Thomson Reuters

ALL SECTORS, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

Rothschild 1 7.10 253.54

Goldman Sachs 2 6.77 241.78

JP Morgan 3 5.93 211.73

Morgan Stanley 4 5.85 208.71

Lazard 5 4.10 146.52

Credit Suisse 6 4.10 146.46

Citigroup 7 3.82 136.22

Deutsche Bank 8 3.24 115.63

Barclays 9 3.17 113.14

BNP Paribas 10 3.01 107.39

UBS 11 2.75 98.23

Bank of America Merrill Lynch 12 2.67 95.46

Societe Generale 13 1.87 66.72

Jefferies 14 1.59 56.71

Evercore Partners 15 1.56 55.55

IMAP 16 1.29 45.96

Mediobanca 17 1.14 40.68

Greenhill & Co 18 1.02 36.59

Nomura 19 0.99 35.46

Credit Agricole CIB 20 0.96 34.10

Source: Thomson Reutersx

ALL SECTORS, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

Rothschild 1 6.63 406.00

Goldman Sachs 2 6.28 384.74

JP Morgan 3 5.21 319.13

Morgan Stanley 4 4.59 280.89

Deutsche Bank 5 4.39 268.87

Lazard 6 4.15 254.28

UBS 7 3.58 219.24

Barclays 8 3.30 202.17

Bank of America Merrill Lynch 9 3.07 188.23

Credit Suisse 10 2.74 167.64

Citigroup 11 2.63 161.34

BNP Paribas 12 2.37 145.02

IMAP 13 1.97 120.54

Societe Generale 14 1.63 100.06

Nomura 15 1.34 81.85

HSBC Holdings 16 1.29 79.11

RBC Capital Markets 17 1.23 75.36

Moelis 18 1.01 61.82

VTB Capital 19 0.98 60.29

Leonardo 20 0.95 58.25

Source: Thomson Reutersx

EMEA completed M&A fees – top banks by fees

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TMT M&A Databook 201320

TMT M&A DATABOOK

TMT, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

JP Morgan 1 10.45 46.61

Goldman Sachs 2 9.55 42.59

Lazard 3 6.06 27.03

Citigroup 4 5.49 24.50

UBS 5 5.30 23.65

Jefferies 6 3.50 15.61

Deutsche Bank 7 3.36 14.97

Barclays 8 3.08 13.73

Credit Suisse 9 3.02 13.49

Morgan Stanley 10 2.96 13.19

Bank of America Merrill Lynch 11 2.94 13.10

Rothschild 12 2.63 11.73

Greenhill & Co 13 2.40 10.72

IMAP 14 2.24 10.00

Canaccord Genuity 15 2.01 8.97

Evercore Partners 16 1.73 7.74

Investec 17 1.53 6.82

BNP Paribas 18 1.41 6.31

Societe Generale 19 1.37 6.10

Duff and Phelps 20 1.12 5.00

Source: Thomson Reutersx

TMT, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

JP Morgan 1 11.63 86.54

Goldman Sachs 2 5.73 42.63

Deutsche Bank 3 5.48 40.79

Rothschild 4 5.27 39.23

Barclays 5 4.68 34.85

UBS 6 3.49 25.94

Lazard 7 3.39 25.21

Morgan Stanley 8 3.02 22.47

Bank of America Merrill Lynch 9 2.97 22.10

Citigroup 10 2.66 19.80

Moelis 11 2.48 18.43

Qatalyst Partners 12 1.73 12.90

Jefferies 13 1.64 12.20

HSBC Holdings 14 1.55 11.53

IMAP 15 1.43 10.64

Societe Generale 16 1.39 10.32

Evercore Partners 17 1.35 10.02

BNP Paribas 18 1.33 9.86

Credit Suisse 19 1.31 9.75

BDO 20 1.18 8.75

Source: Thomson Reutersx

TECHNOLOGY, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

Lazard 1 10.13 14.98

UBS 2 8.38 12.38

Deutsche Bank 3 6.42 9.50

IMAP 4 6.09 9.00

Jefferies 5 5.53 8.17

Credit Suisse 6 4.95 7.32

Goldman Sachs 7 4.67 6.90

JP Morgan 8 4.23 6.26

Citigroup 9 3.68 5.45

RBC Capital Markets 10 2.28 3.37

Blackstone Group 11 2.15 3.17

Duff and Phelps 12 2.03 3.00

Evercore Partners 13 1.94 2.87

Bryan Garnier 14 1.74 2.57

Investec 15 1.73 2.55

Canaccord Genuity 16 1.39 2.06

Rothschild 17 1.35 2.00

BlueMind Corporate Finance 17 1.35 2.00

BNP Paribas 17 1.35 2.00

BDO 17 1.35 2.00

Source: Thomson Reutersx

TECHNOLOGY, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

JP Morgan 1 21.07 62.13

Deutsche Bank 2 5.77 17.01

Goldman Sachs 3 4.61 13.60

Barclays 4 3.67 10.81

Jefferies 5 3.12 9.20

Rothschild 6 2.94 8.65

Moelis 7 2.79 8.22

IMAP 8 2.78 8.19

FIH Partners 9 2.38 7.02

Bank of America Merrill Lynch 10 1.88 5.53

Morgan Stanley 11 1.76 5.17

Lazard 12 1.73 5.10

Arma Partners 13 1.54 4.53

Investec 14 1.48 4.37

Bryan Garnier 15 1.45 4.27

Citigroup 16 1.36 4.02

Globalscope 17 1.35 3.99

Commerzbank 18 1.17 3.46

Mooreland Partners 19 1.09 3.22

BDO 20 0.85 2.50

Source: Thomson Reutersx

Page 22: IFR_TMT_M_A_Databook_2013_low_res

TMT M&A Databook 2013 21

TMT M&A DATABOOK

MEDIA & ENTERTAINMENT, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

Goldman Sachs 1 8.45 11.34

JP Morgan 2 7.98 10.72

Greenhill & Co 2 7.98 10.72

Rothschild 4 7.24 9.72

Citigroup 5 6.18 8.31

Bank of America Merrill Lynch 6 6.08 8.17

UBS 7 5.25 7.06

Canaccord Genuity 8 5.14 6.91

Jefferies 9 3.90 5.24

Credit Suisse 10 3.10 4.17

Green Square Partners 11 2.50 3.36

Lazard 12 2.44 3.28

Deutsche Bank 13 2.43 3.26

Evercore Partners 14 2.13 2.86

Investec 15 1.63 2.19

OTKRITIE Financial Corp 16 1.36 1.83

Clairfield International 17 1.33 1.78

Credit Agricole CIB 18 1.31 1.76

Jadwa Investment Co 19 1.20 1.62

Banca IMI (Intesa Sanpaolo) 20 0.95 1.27

Source: Thomson Reutersx

MEDIA & ENTERTAINMENT, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

Rothschild 1 9.56 21.33

JP Morgan 2 7.40 16.50

Goldman Sachs 3 5.43 12.10

Bank of America Merrill Lynch 4 4.65 10.36

Moelis 5 4.58 10.21

Societe Generale 6 4.21 9.38

Barclays 7 3.73 8.32

BNP Paribas 8 3.53 7.86

Citigroup 9 3.29 7.33

Allen & Co 10 3.24 7.22

UBS 11 2.99 6.66

Lazard 12 2.69 6.00

BDO 13 2.24 5.00

Nomura 14 1.92 4.29

Morgan Stanley 15 1.92 4.27

UniCredit 16 1.81 4.04

Greenhill & Co 17 1.79 4.00

Altium Capital Limited 18 1.67 3.72

Mediobanca 19 1.58 3.52

Clairfield International 20 1.55 3.46

Source: Thomson Reutersx

TELECOMS, YTD 2013Wallet Fees

Bank Rank share (%) (US$m)

JP Morgan 1 18.08 29.63

Goldman Sachs 2 14.86 24.35

Barclays 3 8.38 13.73

Morgan Stanley 4 7.48 12.25

Citigroup 5 6.56 10.75

Lazard 6 5.36 8.78

Societe Generale 7 3.72 6.10

Bank of America Merrill Lynch 8 3.01 4.93

BNP Paribas 9 2.63 4.31

Houlihan Lokey 9 2.63 4.31

UBS 11 2.57 4.21

goetzpartners Corp Finance 12 1.77 2.90

Akira Partners 13 1.62 2.66

Commerzbank 14 1.35 2.21

Deutsche Bank 14 1.35 2.21

Berenberg Bank 14 1.35 2.21

Jefferies 17 1.34 2.20

Investec 18 1.27 2.08

Credit Suisse 19 1.22 2.00

Evercore Partners 19 1.22 2.00

Source: Thomson Reutersx

TECHNOLOGY, FULL YEAR 2012Wallet Fees

Bank Rank share (%) (US$m)

Deutsche Bank 1 9.01 20.39

UBS 2 7.64 17.28

Goldman Sachs 3 7.48 16.93

Barclays 4 6.94 15.71

Lazard 5 6.23 14.11

Morgan Stanley 6 5.76 13.03

Qatalyst Partners 7 5.70 12.90

HSBC Holdings 8 4.17 9.43

Rothschild 9 4.09 9.25

Citigroup 10 3.73 8.45

Evercore Partners 11 3.54 8.02

JP Morgan 12 3.50 7.91

Credit Suisse 13 3.49 7.90

RBS 14 2.83 6.40

Bank of America Merrill Lynch 15 2.74 6.21

SEB 16 2.34 5.30

National Bank of Kuwait 17 2.22 5.01

Carnegie 18 1.76 3.99

Mediobanca 19 1.61 3.65

Jefferies 20 1.33 3.00

Source: Thomson Reutersx

Page 23: IFR_TMT_M_A_Databook_2013_low_res

TMT M&A Databook 201322

TMT M&A DATABOOK

EMEA INVOLVEMENT ANNOUNCED TMT M&A FINANCIAL

ADVISOR RANKINGS, TMT

FULL YEAR 2012Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 33 38,193.7 28.5

2 JP Morgan 30 37,321.1 27.9

3 Morgan Stanley 28 36,431.1 27.2

4 Deutsche Bank 27 34,118.9 25.5

5 Credit Suisse 18 18,207.8 13.6

6 Rothschild 33 15,954.2 11.9

7 Bank of America Merrill Lynch 14 14,803.8 11.1

8 UBS 18 12,473.4 9.3

9 Lazard 30 11,907.9 8.9

10 Barclays 15 9,911.4 7.4

Total 3,488 133,829.8

Source: Thomson Reuters

EMEA INVOLVEMENT ANNOUNCED TMT M&A FINANCIAL

ADVISOR RANKINGS, TECHNOLOGY

FULL YEAR 2012Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 JP Morgan 17 19,064.8 41.7

2 Goldman Sachs 15 17,552.5 38.4

3 Morgan Stanley 13 11,407.0 24.9

4 Deutsche Bank 10 11,191.2 24.5

5 Bank of America Merrill Lynch 5 8,987.4 19.6

6 Rothschild 11 6,904.6 15.1

7 Centerview Partners 2 5,060.0 11.1

8 Barclays 6 4,121.6 9.0

9 PricewaterhouseCoopers 27 3,925.5 8.6

10 Houlihan Lokey 5 3,411.3 7.5

Total 1,781 45,766.1

Source: Thomson Reuters

EMEA INVOLVEMENT ANNOUNCED TMT M&A FINANCIAL

ADVISOR RANKINGS, MEDIA & ENTERTAINMENT

1/1/2013 – 31/8/2013 Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 JP Morgan 5 8,562.4 24.0

2 Rothschild 19 6,136.9 17.2

3 Greenhill 3 4,962.4 13.9

=3 Morgan Stanley 4 4,962.4 13.9

5 Citigroup 5 4,420.4 12.4

6 Moelis 6 3,814.4 10.7

7 Goldman Sachs 7 3,743.6 10.5

8 Deutsche Bank 4 3,091.9 8.7

9 Credit Suisse 3 2,946.6 8.3

10 Macquarie Group 3 2,922.5 8.2

Total 1,351 35,681.4

Source: Thomson Reuters

EMEA INVOLVEMENT ANNOUNCED TMT M&A FINANCIAL

ADVISOR RANKINGS, TMT

1/1/2013 – 31/8/2013 Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Goldman Sachs 19 73,455.7 53.9

2 Deutsche Bank 15 51,989.3 38.1

3 Bank of America Merrill Lynch 11 38,286.6 28.1

4 Morgan Stanley 16 37,836.4 27.8

5 RBS 3 34,093.7 25.0

6 Citigroup 13 33,442.0 24.5

7 JP Morgan 17 33,313.0 24.4

8 UBS 14 31,761.5 23.3

9 Rothschild 19 22,096.4 16.2

10 BNP Paribas 5 21,075.1 15.5

Total 1,975 136,332.2

Source: Thomson Reuters

EMEA INVOLVEMENT ANNOUNCED TMT M&A FINANCIAL

ADVISOR RANKINGS, TECHNOLOGY

1/1/2013 – 31/8/2013 Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Deutsche Bank 10 14,498.0 50.1

2 Goldman Sachs 7 13,722.3 47.4

3 JP Morgan 6 12,302.2 42.5

4 Barclays 4 8,518.2 29.4

5 Centerview Partners 2 8,173.2 28.2

6 Bank of America Merrill Lynch 2 4,047.0 14.0

7 Allen & Co Inc 1 2,338.8 8.1

8 Morgan Stanley 5 2,176.7 7.5

9 Lazard 4 2,140.2 7.4

10 Credit Suisse 6 2,026.9 7.0

Total 1,026 28,969.4

Source: Thomson Reuters

EMEA INVOLVEMENT ANNOUNCED TMT M&A FINANCIAL

ADVISOR RANKINGS, MEDIA & ENTERTAINMENT

FULL YEAR 2012Ranking value

Number inc. net debt Market

Financial adviser of deals of target (US$m) share

1 Bank of America Merrill Lynch 6 21,371.6 41.2

2 Citigroup 9 21,072.4 40.7

3 Rothschild 12 21,042.9 40.6

4 Goldman Sachs 7 21,013.3 40.5

5 Moelis 3 19,476.8 37.6

6 BNP Paribas 1 19,331.1 37.3

7 UBS 7 18,663.7 36.0

8 Morgan Stanley 4 15,849.2 30.6

9 Deutsche Bank 3 14,832.7 28.6

10 Perella Weinberg Partners 1 13,512.6 26.1

Total

Source: Thomson Reuters

Page 24: IFR_TMT_M_A_Databook_2013_low_res

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