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Second Quarter 2012 Report

Executive Summary Overview

• USD29.1bn of investments and acquisitions tracked in Q2 2012, up 1% from USD28.6b in Q2 2011 • 1007 deals tracked from public sources in Q2 2012, up from 454 deals in Q2 2011 • All sectors and regions have experienced growth in the number of deals • Average deal value for investments has significantly fallen to USD12m in Q2 2012, down from USD30.8m in Q2 2011 • Average deal value for acquisitions has fallen slightly to USD336.5m in Q2 2012, down from USD340.7 in Q2 2011

Deals by region

• Asia/Pacific leads all regions with an average deal value of USD65m. South America comes second at USD64m. This compareswith North America at USD42m. North America still accounted for the vast bulk of deals tracked, recording $18.3b of deals out of $29.1b for all regions

• Average deal values have fallen in most regions. In 2011, the average deal size North America was $73.8m, while in 2012, it fell to $37.2m. This means more companies are involved in investment and M&A activity but at lower values

• 79% increase in deal numbers across Asia/Pacific after 142% in North America and 100% in Europe • Average deal value for investments in Asia/Pacific leads all regions at USD17.6m, compared with USD12m in North

America and USD9m in Europe

Deals by sector

• Total deal value for Hardware & Infrastructure businesses has increased three times to USD8.5bn in Q2 2012, from USD $2bn in Q2 2011. This compares with a thirteen-fold increase in the number of Hardware & Infrastructure deals

• Total deal value for Mobile & Apps businesses has increased to USD1.9bn in Q2 2012, from USD538m in Q2 2011. This compares two-fold increase in the number of Mobile & Apps deals

• Average deal value for investments has fallen in all sectors except Marketing and Media businesses • Average deal value for investments in Games businesses has significantly fallen to USD4.5m in Q2 2012, down from

USD56.2m in Q2 2011 • Average deal value of acquisitions in the Transactions sector has grown seven-fold

Key statistics

Description Q2 2011 Q2 2012 Number of deals 454 1,007 Total deal value $28,628,170,169 $29,052,613,700 Average deal value $96,716,791 $43,819,930 Total investment value $7,164,933,239 $7,180,513,700 Total acquisition value $21,463,236,930 $21,872,100,000

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-61% -41% -30% -15% -9%

50%

255%

326%

-100%

0%

100%

200%

300%

400%

Games Marketing Software & Services

Transactions Ecommerce Media Mobile & Apps Hardware & Infrastructure

Deal value growth by sector Q2 2011 - Q2 2012

-43%

19% 20%

738%

1559%

-500%

0%

500%

1000%

1500%

2000%

Europe Asia/Pacific North America Middle East South America

Deal value growth by region Q2 2011 - Q2 2012

9% 41% 55% 104% 132% 157% 200%

1300%

0% 200% 400% 600% 800%

1000% 1200% 1400%

Marketing Games Ecommerce Media Transactions Software & Services

Mobile & Apps Hardware & Infrastructure

Deal number growth by sector Q2 2011 - Q2 2012

47% 50%

79%

100%

141%

0%

50%

100%

150%

Middle East South America Asia/Pacific Europe North America

Deal number growth by region Q2 2011 - Q2 2012

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*Transaction sector has been omitted due to non-significant outlying data

32 24 18 56

117 69

165

400

11 18 21 31 36 38 48 123

$0

$100

$200

$300

$400

$500

Transactions Media Mobile & Apps Marketing Games Ecommerce Software & Services

Hardware & Infrastructure

Mill

ions

Average deal value by sector Q2 2011 - Q2 2012

Q2 2011 Q2 2012

74

11

207

19

102

37 54 62 63 65

$0

$50

$100

$150

$200

$250

North America Middle East Europe South America Asia/Pacific

Mill

ions

Average deal value by region Q2 2011 - Q2 2012

-25% -55% -83%

137%

-35%

30%

181% 259%

-200%

-100%

0%

100%

200%

300%

Europe North America Asia/Pacific Middle East

Average deal value growth by region and deal type Q2 2011 - Q2 2012

Investments Acquisitions

54%

-28% -92%

138%

-23% -98% -78%

-28% -26% -12%

52% 122% 151%

482%

-200%

0%

200%

400%

600%

Marketing Software & Services

Games Media Mobile & Apps Hardware & Infrastructure

Ecommerce

Average deal value growth by sector and deal type Q2 2011 - Q2 2012

Investments Acquisitions

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Disclaimer The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Accordingly Internet DealBook and all its related entities hereby excludes any liability to any person in consequence of his purported reliance upon information contained herein or omitted here from (whether express or implied) or otherwise furnished in connection herewith. Any requests for information in connection with this document should be addressed directly to Internet DealBook and to no other party.

Information Sources

Internet DealBook collects and compiles all its data from publicly available sources. Visit Internet DealBook for more information on the methodology used for tracking and collating deals.

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