EX-99.(C)(4) 5 a2229816zex-99_c4.htm EX-(C)(4)

Exhibit (c)(4)

 

ProjectWarriors Materials for Discussion DRAFT Preliminary | Subject to Further Review and Evaluation July 13, 2016

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Illustrative Transaction Statistics ($MM, except per share amounts) Note: Current market prices as of July 13, 2016. (1) Based on closing share price as of July 11, 2016 (last closing share price prior to acquisition rumors). (2) Common shares outstanding, RSUs, PSUs, and options schedule from Curry Management as of June 30, 2016. (3) Balance sheet items from Curry 10-Q for the period ended March 31, 2016. Cash adjusted for $9.7MM acquisition of a professional services firm. (4) Represents cash settlement of 2018 Convertible Notes of $310MM face value. Value based on a conversion price of $116.10. Make whole premium assumes a close date of September 30, 2016. Additional shares based on indenture dated June 4, 2013. 2 CONFIDENTIAL | DRAFT Illustrative Share Price: 7/13/16 Bogut Proposal $109.00 Implied Transaction PremiumsStatistic Premium to Unaffected (7/11/16) Price (1)$75.850% Premium to Unaffected (7/11/16) Enterprise Value (1)$6,4490% 44% 45% Premium to Current Price $80.48 (6%) Premium to Current Enterprise Value $6,850 (6%) Premium to 30-Day Average Price (1) $77.49 (2%) Premium to 60-Day Average Price (1) 77.34 (2%) Premium to LTM High Share Price (1) 99.73 (24%) Premium to LTM Low Share Price (1) 53.11 43% Premium to LTM Average Share Price (1) 79.62 (5%) 35% 37% 41% 41% 9% 105% 37% Implied Valuation & Multiples Fully-Diluted Shares (2)85.8 Fully-Diluted Equity Value$6,511 Plus: Note Payable to Oracle (3)5 Plus: Market Value of Convertible Notes (4)310 Plus: Make Whole Premium (4)-Less: Cash (3)(378) Fully-Diluted Enterprise Value$6,449 86.2 $9,391 5 310 32 (378) $9,360 Historical prices relative to unaffected price as of July 11, 2016 (1) Unaffected (7/11/16) Curry (1) $75.85

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Illustrative Transaction Statistics (CONTINUED) ($MM, except per share amounts) Note: Current market prices as of July 13, 2016. (1) Based on closing share price as of July 11, 2016 (last closing share price prior to acquisition rumors). (2) Common shares outstanding, RSUs, PSUs, and options schedule from Curry Management as of June 30, 2016. (3) Balance sheet items from Curry 10-Q for the period ended March 31, 2016. Cash adjusted for $9.7MM acquisition of a professional services firm. (4) Represents cash settlement of 2018 Convertible Notes of $310MM face value. Value based on a conversion price of $116.10. Make whole premium assumes a close date of September 30, 2016. Additional shares based on indenture dated June 4, 2013. Value shown represents make whole value above principal value. (5) Based on mean Wall Street consensus analyst research estimates as of July 13, 2016. (6) LTM represents the 12-month period ended March 31, 2016. NTM represents the 12-month period ending March 31, 2017. (7) Based on Preliminary Curry Management Plan provided by Curry Management to Qatalyst in February 2016. 3 CONFIDENTIAL | DRAFT 7/13/16 Bogut Proposal $109.00 Implied Valuation & Multiples Fully-Diluted Equity Value (2)$6,511 Fully-Diluted Enterprise Value (3)(4)6,449 $9,391 9,360 Street Estimates (5) Revenue MultiplesStatistic LTM (3/31/16) (6)$7938.1x CY16E9676.7 NTM (3/31/17) (6)1,0296.3 CY17E1,2295.2 LFCF Multiples LTM (3/31/16) (6)$52125.2x CY16E8973.2 NTM (3/31/17) (6)11059.4 CY17E12552.3 11.8x 9.7 9.1 7.6 180.6x 105.5 85.7 75.4 Preliminary Management Forecast (7) Revenue MultiplesStatistic CY16E$9606.7x CY17E1,2185.3 LFCF Multiples CY16E$8874.3x CY17E11357.5 9.7x 7.7 107.1x 82.9 Unaffected (7/11/16) Curry (1) $75.85 Illustrative Share Price:

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Curry Long-Term Trading Performance December 20, 2007 (Since IPO) to Ju!J 13, 2016 Share Price $140.00 ---------------------------------------------------------------------------------------------------------$120.00 --------------------------------------------------------------------------------------------------------Bogut 7/13/16 Proposal: $109.00 - - - - - - - - - - - - - - - - - - - - - - $100.00 --------------------------------------------------------------------Current Price: $80.48 $80.00 ----------------------------------------------------------------Unaffected (7/11/16) Price: $75.85 (1) $60.00 ---------------------------------------------------------$40.00 ------------------------------------------$0.00 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Source: Capital IQ. (1) 01Jfingshare price as of]u fy 11, 20 16 (last dosing share price prior to acquiritton rumors). CONFIDENTIAL I DRAFT C-tatalyst PARTN E RS 4

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Curry Q2’16 Earnings Summary ($MM, except per share amounts) Subscription & Support Revenue % Y/Y Growth Professional Services & Other Revenue % Y/Y Growth Total Revenue % Y/Y Growth Non-GAAP EPS ($) Cash Flow From Operations % Margin Source: Curry management, company earnings transcripts, company filings, and Wall Street consensus estimates. CONFIDENTIAL | DRAFT Q 2’ 16 Bookings De ta il •Subscription and support: $59MM (17% y/y growth) •Professional services: $55MM (17% y/y growth) Q2'FY16 $180 28% 51 39% $231 30% $0.07 - $0.08 $35 - $36 15% Q2'FY16 Guidance % vs. Mid-Point Q2'FY16 Consensus % vs. Consensus Low-EndHigh-End $229$231 29%30% $0.02$0.03 $27$29 12%13% 0% 0.5pts 200% 27% 3.2pts 183 30% 47 30% $231 30% $0.03 $29 13% (2%) (2.1pts) 7% 9.1pts 0% 0.1pts 138% 22% 2.8pts Consensus Guidance Actuals

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 Illustrative Preliminary Curry Valuation Analyses

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Trading Statistics of Selected Companies 7x 4. 66.2x 22.6x 17 – Source: Capital IQ, company filings, and Wall Street research as of July 13, 2016. Multiples greater than 100.0x or negative noted as dashes. (1) Based on closing share price as of July 11, 2016 (last closing share price prior to acquisition rumors). 7 (2) Based on Wall Street mean consensus analyst research estimates (3) NTM represents the 12-month period ending March 31, 2017. CONFIDENTIAL | DRAFT as of July 13, 2016. NTM UFCF Multiple (3) CY17E LFCF Multiple CY17E Revenue Multiple Legend Median: 34.5x 82.0x79.8x Median: 19.9 23.8x15 x .9x 56.5x 34.7x34.4x31.9x Curry Street Curry @ $109ULTICSODNOWCRMWDAYADBERHT (7/11/16)Per Share (2) (1)(2) 75.4x74.8xMedian: 33.4xMedian: 19.8x .1x 52.3x 33.4x28.8x28.6x Curry Street Curry @ $109WDAYULTICSODNOWCRMADBERHT (7/11/16)Per Share (2) (1)(2) Median: 6.8x 7.6x7.9x7.0x6.8x Median: 5. 6.7x 8x 5.2x 5.8x 4x 4. Curry Street Curry @ $109WDAYULTINOWCRMCSODADBERHT (7/11/16)Per Share (2) (1)(2) Selected SaaS Selected Large-Cap High Growth Software

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Comparison ofCurry Street and Preliminary Curry Management Plan Actuals Forecast Actuals Forecast Actuals Forecast $4.18 Historical 2012A – 2015A CAGR: 34% Historical 2012A – 2015A CAGR: (5%) $3,023 S R: 27% S R: 65% $2,425 Management 2015A – 2021E CAGR: 26% Management 2015A – 2021E CAGR: 63% $0.46 '12A '13A '14A '15A '16E '17E '18E '19E '20E '21E '12A '13A '14A '15A '16E '17E '18E '19E '20E '21E '12A '13A '14A '15A '16E '17E '18E '19E '20E '21E Actuals Forecast Forecast Actuals Forecast Actuals Historical 2012A – 2015A CAGR: (1%) Historical 2012A – 2015A CAGR: 6% S R: 63% S CAGR: 48% Management 2015A – 2021E CAGR: 63% Management 2015A – 2021E CAGR: 50% $125 $163 $43 '12A '13A '14A '15A '16E '17E '18E '19E '20E '21E '12A '13A '14A '15A '16E '17E '18E '19E '20E '21E '12A '13A '14A '15A '16E '17E '18E '19E '20E '21E Note: Non-GAAP financials exclude stock-based compensation, amortization of intangibles and other non-recurring items. 8 (1) (2) Based on Wall Street mean consensus analyst research estimates as of July 13, 2016. CONFIDENTIAL | DRAFT Curry Management to Qatalyst in February 2016. Based on Preliminary Curry Management Plan provided by Legend treet 2015A – 2018E $42 $42 $51 $50 $573 $408 $278 $181 $89 $88 $113 treet 2015A – 2018E CAG $22 $24 $29 $22 $414 $285 $185 $111 $69 $44 $94 $61 7% 6% 5% 3% 14% 12% 10% 7% 6% 5% 6% 5% 4% Non-GAAP Operating Margin (%) Non-GAAP Operating Profit ($MM) Levered Free Cash Flow ($MM) treet 2015A – 2018E CAG $0.26 $0.26 $0.32 $0.22 $2.93 $1.92 $1.15 $0.72 $0.99 $0.45 $0.62 treet 2015A – 2018E CAG $741 $556 $309 $415 $1,929 $1,533 $1,229 $967$1,527 $1,218 $960 34% 34% 33% 31% 30% 30% 27% 26% 26% 26% 25% 27% 24% Revenue Growth (%) Non-GAAP Earnings Per Share ($) Revenue ($MM) Historical Street (1) Prelim. Curry Mgmt Plan (2)

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Summary of Preliminary Curry Management Plan Cash Flow Projections ($MM) 26% Revenue % Growth Non-GAAP Operating Income % Margin Less: Taxes Effective Tax Rate NOPAT % Margin Less: Capital Expenditures % of Revenue Plus: Depreciation % of Capital Expenditures Plus: Decrease in Working Capital % of Revenue Unlevered Free Cash Flow % of Revenue % Growth $744 – 34 5% (4) 13% 29 4% (37) 5% 21 57% 48 6% 61 8% – $1,218 27% 61 5% (8) 13% 53 4% (60) 5% 42 70% 79 7% 115 9% 39% $1,533 26% 111 7% (10) 9% 100 7% (72) 5% 54 75% 100 7% 182 12% 59% $1,929 26% 185 10% (13) 7% 172 9% (91) 5% 72 80% 125 7% 279 14% 53% $2,425 26% 285 12% (17) 6% 268 11% (112) 5% 95 85% 158 7% 409 17% 47% $3,023 25% 414 14% (116) 28% 298 10% (139) 5% 125 90% 196 7% 480 16% 17% 63% 58% 44% Source: Preliminary Curry Management Plan provided by Curry Management to Qatalyst in February 2016. 9 CONFIDENTIAL | DRAFT Curry Standalone Financial Performance'15A-'Q2-'Q4Terminal'21E CY2016E CY2017E CY2018E CY2019E CY2020E CY2021ECAGR

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Illustrative Preliminary Discounted Cash Flow Based on Preliminary Curry Management Plan ($MM, except per share amounts) Implied Perpetuity Growth Rate PV of Unlevered FCF (Q2'16E - CY2020E) PV of Terminal Value (CY2021E & Beyond) 5.3% $795 7,803 6.0% $795 9,363 6.5% $795 10,924 7.5% $749 7,084 8.2% $749 8,501 8.7% $749 9,918 9.7% $707 6,444 10.4% $707 7,733 10.9% $707 9,022 Implied Enterprise Value Plus: PV of Federal NOLs and Tax Credits (CY2021E & Beyond) (1) Plus: Cash (2) Less: Debt (2) Implied Equity Value $8,598 189 378 (315) 8,849 $10,159 189 378 (315) 10,410 $11,719 189 378 (315) 11,970 $7,834 159 378 (315) 8,055 $9,250 159 378 (315) 9,472 $10,667 159 378 (315) 10,889 $7,152 135 378 (315) 7,349 $8,440 135 378 (315) 8,637 $9,729 135 378 (315) 9,926 Premium/(Discount) to Bogut 7/13/16 Proposal @ $109.00 Per Share Premium/(Discount) to 7/11/16 Share Price (4) (17%) 19% (3%) 39% 11% 60% (25%) 8% (12%) 27% 1% 46% (31%) (1%) (19%) 16% (7%) 33% Note: Assumes mid-period discounting convention. (1) Based on Federal NOL and tax credits of $1,169MM as of December 31, 2020 per Curry Management. (2) Balance sheet items from Curry 10-Q for the period ended March 31, 2016. Cash adjusted for $9.7MM acquisition of a professional services firm. In-the-money convertible debt treated on a net share basis. (3) Common shares outstanding, RSUs, PSUs, and options schedule from Curry Management as of June 30, 2016. (4) Based on closing share price as of July 11, 2016 (last closing share price prior to acquisition rumors). 10 CONFIDENTIAL | DRAFT Implied Price Per Share - Assuming ~14% Dilution (3) $90.05 $105.74 $121.19 $82.03 $96.32 $110.53 $74.89 $87.91 $100.89 % of Enterprise Value in Terminal Value 91% 92% 93% 90% 92% 93% 90% 92% 93% Discount Rate: Terminal NTM UFCF Multiple: Implied Terminal NTM Revenue Multiple: Illustrative Present Value as of March 31, 2016 9.5% 11.75% 25.0x 30.0x 35.0x 25.0x 30.0x 35.0x 4.0x4.8x5.6x4.0x4.8x5.6x 14.0% 25.0x 30.0x 35.0x 4.0x4.8x5.6x Summary of Valuation Assumptions - Unlevered free cash flow projections and terminal value discounted to March 31, 2016 (mid-period convention) - Cash flow excludes impact of stock based compensation, amortization of intangibles, restructuring and other non-recurring items - Portion of Federal NOLs and R&D tax credits used to shield taxes over projection period with the remaining balance valued separately - Weighted average cost of capital range of 9.5% to 14.0% - Terminal value calculated using NTM UFCF multiple range of 25.0x – 35.0x terminal year (CY21E) UFCF of $480MM - Assumes, per Curry Management, current Curry shareholders incur ~14% cumulative dilution through issuance of equity awards over the projected period

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Illustrative Preliminary DCF Sensitivity Premium / (Discount) to Bogut 7/13/16 Proposal ($MM, except per share amounts) $65.38 (40%) $73.50 (33%) $83.54 (23%) $76.63 (30%) $86.26 (21%) $98.18 (10%) $87.83 (19%) $98.98 (9%) $59.45 (45%) $66.89 (39%) $76.07 (30%) $69.69 (36%) $78.50 (28%) $89.38 (18%) $79.88 (27%) $90.07 (17%) $102.65 (6%) $54.22 (50%) $61.01 (44%) $69.41 (36%) $63.54 (42%) $71.60 (34%) $81.54 (25%) $72.84 (33%) $82.15 (25%) $93.64 (14%) $71.66 (34%) $80.66 (26%) $91.56 (16%) $84.02 (23%) $94.70 (13%) $107.63 (1%) $96.35 (12%) $108.65 (0%) $65.20 (40%) $73.44 (33%) $83.39 (23%) $76.46 (30%) $86.21 (21%) $98.04 (10%) $87.67 (20%) $98.94 (9%) $59.47 (45%) $67.01 (39%) $76.11 (30%) $69.74 (36%) $78.65 (28%) $89.46 (18%) $79.96 (27%) $90.26 (17%) $102.77 (6%) $80.05 (27%) $93.90 (14%) $107.66 (1%) $72.90 (33%) $85.49 (22%) $98.04 (10%) $66.53 (39%) $78.01 (28%) $89.45 (18%) Note: Assumes mid-period discounting convention. (1) Based on Preliminary Curry Management Plan provided by Curry Management to Qatalyst in February 2016. (2) Balance sheet items from Curry 10-Q for the period ended March 31, 2016. Cash adjusted for $9.7MM acquisition of a professional services firm. In-the-money convertible debt treated on a net share basis. Common shares outstanding, RSUs, PSUs, and options schedule from Curry Management as of June 30, 2016. 11 CONFIDENTIAL | DRAFT $90.05 $105.74 (17%) (3%) $121.19 11% $82.03 $96.32 (25%) (12%) $110.53 1% $74.89 $87.91 $100.89 (31%) (19%) (7%) $102.10 $93.04 $84.94 $99.88 (6%) (15%) (22%) (8%) $114.73 5% $109.40 $125.41 0% 15% $119.95 $137.37 10% 26% Prelim Mgmt Forecast (1) '15A-21E CAGR: 26% CY21E Revenue: $3,023 CY21E Op Margin: 11% Prelim Mgmt Forecast (1) CY21E Op Margin: 14% CY21E Op Margin: 17% $112.59 3% $123.41 13% '15A-21E CAGR: 24% CY21E Revenue: $2,694 CY21E Op Margin: 11% CY21E Op Margin: 14% CY21E Op Margin: 17% $112.72 3% '15A-21E CAGR: 22% CY21E Revenue: $2,444 CY21E Op Margin: 11% CY21E Op Margin: 14% CY21E Op Margin: 17% Revenue SensitivityOp. Margin Sensitivity Discount Rate: Terminal NTM UFCF Multiple: Illustrative Present Value as of March 31, 2016 (2) 9.5% 11.75% 25.0x 30.0x 35.0x 25.0x 30.0x 35.0x 14.0% 25.0x 30.0x 35.0x Shading represents values greater than Bogut 7/13/16 Proposal of $109.00 per share

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Selected SaaS Transactions ($MM) 06/01/16 Demandware Salesforce 3,030 2,834 11.2 8.9 - - 56% 69% (1%) 167% 26% (0%) 05/18/16 inContact NICE 1,059 973 4.2 3.6 - - 55% 50% 30% 121% 17% (4%) 11/02/15 Constant Contact Endurance International 1,105 924 2.6 2.3 26.8 24.2 23% 29% (25%) 35% 12% 12% 12/20/13 Responsys Oracle 1,679 1,572 8.1 6.9 - - 38% 66% 35% 370% 18% 6% 12/20/12 Eloqua Oracle 971 885 9.8 8.2 - - 31% 34% (5%) 82% 19% (9%) 05/22/12 Ariba SAP 4,609 4,437 8.8 7.8 65.9 33.5 20% 32% 13% 103% 13% 14% 12/03/11 SuccessFactors (1) SAP 3,748 3,499 10.2 8.7 - 78.6 52% 47% (1%) 105% 17% 8% 07/01/11 Blackboard (2) Providence Equity 1,638 1,750 3.7 3.2 20.1 16.2 4% 10% (8%) 36% 17% 17% 09/15/09 Omniture Adobe 1,837 1,735 5.1 4.7 51.3 44.1 24% 52% (1%) 183% 9% 11% Source: Company press releases, Company filings, 451 Group and Wall Street research. Note: '-' = Not meaningful or not available. Multiples greater than 100.0x or negative considered not meaningful. (1) LTM revenue pro forma for acquisition of Plateau. (2) Blackboard previously announced its retainer of a financial advisor in response to receiving acquisition offers; unaffected 1-day and 20-day premiums as of April 18, 2011 and March 22, 2011 were 21% and 27% respectively. (3) Reflects Bogut proposal submitted on July 13, 2016. Premiums based on closing price as of July 11, 2016 (last closing share price prior to acquisition rumors). LTM represents the 12-month period ended March 31, 2016. NTM represents the 12-month period ending March 31, 2017. (4) Based on Wall Street consensus estimates as of July 13, 2016. Common shares outstanding, RSUs, PSUs, and options schedule from Curry Management as of June 30, 2016. Balance sheet items from Curry 10-Q for the period ended March 31, 2016. Cash adjusted for $9.7MM acquisition of a professional services firm. Represents cash settlement of 2018 Notes of $310MM face value. Value based on a conversion price of $116.10. Make whole premium assumes a close date of September 30, 2016. Additional shares based on indenture dated June 4, 2013. 12 CONFIDENTIAL | DRAFT 03/15/07 WebExCisco3,1632,8187.46.137.731.823%21%19%99%21%22% Median:7.5x6.2x44.3x33.5x38%47%5%103%19%6% Mean:7.26.047.842.538%46%8%122%19%6% Max:12.6x10.2x94.0x78.6x69%89% 37%370%28%22% Min:2.6 2.3 20.116.2 4%10%(25%) 35% 9%(9%) Implied Curry Statistics @ $109.00 per share (3)(4):$9,391$9,36011.8x9.1x-85.7x44%38%9%105%30%7% 11/02/10 Art Technology GroupOracle1,0328504.43.935.525.746%35%25%95%14%15% 10/24/11 RightNowOracle1,8401,5997.46.2-64.420%38%10%117%19%5% 02/09/12 TaleoOracle2,0561,9406.35.3-46.118%25%9%109%18%4% 08/27/12 KenexaIBM1,3591,3024.03.350.926.842%89%37%219%22%8% 06/04/13 ExactTargetSalesforce2,6712,5707.96.5--53%56%36%88%22%(6%) 09/18/14 ConcurSAP7,7688,28612.610.2--28%36%1%70%23%6% 04/18/16 CventVista Equity Partners1,6471,5028.06.5--69%66%(2%)90%23%1% 05/31/16 MarketoVista Equity Partners1,7891,7007.55.9--64%68%5%139%28%(7%) FD FD Transaction multiples Premium NTM LTM Annc. Equity Ent. Revenue LFCF LTM Rev. LFCF Date Target Acquiror Value Value LTM NTM LTM NTM 1-Day 20-Day High Low Growth Margin 06/13/16 LinkedInMicrosoft$28,142$26,1528.1x6.7x94.0x75.7x50%54%(23%)94%21%9%

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Implied Curry Valuation Based on Five Highest SaaS Acquisition Multiples ($MM) Concur SAP $7,768 $8,286 12.6x 10.2x $115.94 $121.78 Ariba SAP 4,609 4,437 8.8 7.8 82.51 94.25 SuccessFactors (2) SAP 3,748 3,499 10.2 8.7 94.52 104.36 Demandware Salesforce 3,030 2,834 11.2 8.9 103.22 106.45 Eloqua Oracle 971 885 9.8 8.2 91.31 98.92 Note: '-' = Not meaningful or not available. Multiples greater than 100.0x or negative considered not meaningful. (1) Common shares outstanding, RSUs, PSUs, and options schedule from Curry Management as of June 30, 2016. Represents cash settlement of 2018 Convertible Notes of $310MM face value. Value based on a conversion price of $116.10. Make whole premium assumes a close date of September 30, 2016. Additional shares based on indenture dated June 4, 2013. LTM represents the 12-month period ended March 31, 2016. NTM represents the 12-month period ending March 31, 2017. (2) LTM revenue pro forma for acquisition of Plateau. 13 CONFIDENTIAL | DRAFT Implied Curry Statistics @ $109.00 Per Share (1)$9,391 $9,360 11.8x 9.1x$109.00 $109.00 Median: 10.2x8.7x$94.52$104.36 Mean: 10.58.897.50 105.15 FDFD Equity Enterprise TargetAcquiror Value Value Transaction Multiples Implied Curry Txn Share Price (1) Revenue Revenue LTMNTMLTMNTM Shading represents multiples and implied share prices greater than Curry statistics implied by Bogut 7/13/16 Proposal of $109.00 per share

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Selected Public Enterprise Software Transactions Selected Public Enterprise Software Transactions >$1Bn Transaction Value (N=69) 12.0x 10.0x Curry @ $109.00 / Share 8.0x Ariba dIn ExactTarget SolarWinds 6.0x 4.0x 2.0x 0.0x $$2164,5,00000 $500 $2,000 $3,500 $5,000 $6,500 $8,000 $9,500 $11,000 $12,500 Source: Company press releases, Company filings, 451 Group and Wall Street Research. (1) Balance sheet items from Curry 10-Q for the period ended March 31, 2016. Cash adjusted for $9.7MM acquisition of a professional service s firm. Common shares outstanding, RSUs, PSUs, and options schedule from Curry Management as of June 30, 2016. Assumes cash settlement of 2018 Convertible Notes of $310MM face value. Value based on a conversion price of $116.10. Make whole premium a ssumes a close date of September 30, 2016. Additional shares based on indenture dated June 4, 2013. NTM represents the 12-month period ending March 31, 2017. CONFIDENTIAL | DRAFT 14 Enterprise Value ($MM) Opsware Concur Autonomy Demandware EloquaSourcefireSuccessFactors (1) ResponsysLinke SoleraVeritas Informatica BEA Systems Sybase Micros SystemsMcAfeePeopleSoft BMC NTM Revenue Multiple Software Transactions SaaS Transactions

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