First Quarter 2012 Report

Executive Summary
Overview USD25.4bn of investments and acquisitions tracked in Q1 2012, down 2% from USD26bn in Q1 2011 930 deals tracked from public sources in Q1 2012, up from 342 deals in Q1 2011 All sectors and regions have experienced growth in the number of deals Average deal value for investments has significantly fallen to USD8.6m in Q1 2012, down from USD27.2m in Q1 2011 Average deal value for acquisitions has fallen to USD379m in Q1 2012, down from USD412.5m in Q1 2011 Deals by region Europe leads all regions with an average deal value of USD65m. North America comes second at USD42m with Asia/Pacific further behind at USD20m. Average deal values in other regions are less than USD5m Average deal values have fallen in all regions except Europe and South America. The average deal value in North America in Q1 2012 was USD42.3m, significantly down from USD115m in Q1 2011 North America was responsible for USD3.5bn of deals compared with Europe at USD536m and Asia/Pacific at USD465m Average deal values for investments was highest in Asia/Pacific at USD13.3m. North America comes second at USD8.9 with Europe at 6.2m Average deal values for acquisitions was highest in Europe at USD799.4m. North America comes second at USD363m Deals by sector The number of deals involving Hardware & Infrastructure businesses increased by 491% in Q1 2012 compared with Q1 2011. This was followed by Ecommerce businesses at 335% and Transactions businesses at 213% Games businesses experienced deal value growth of 521%. This was followed by Hardware & Infrastructure businesses at 310% and Mobile & Apps businesses at 113% Average deal value of investments has fallen in all sectors except Hardware and Infrastructure where there was no change. The average deal value of investments in Media businesses was USD7.6m in Q1 2012, down from USD67m in Q1 2011 Average deal value of acquisitions increased for Games businesses to USD139.5m in Q1 2012. It also increased for Hardware & Infrastructure businesses to USD839.6m in Q1 2012

Key Statistics

Description Number of deals Total deal value Average deal value Total investment value Total acquisition value

Q1 2011 342 $25,983,613,698 $105,196,817 $5,360,808,454 $20,622,805,244

Q1 2012 930 $25,430,932,264 $43,471,679 $4,583,945,264 $20,846,987,000

Page 1

Deal value growth by region Q1 2011 - Q1 2012

500% 400% 295% 300% 200% 100% 0% -100% Asia/Pacic North America Middle East South America Europe -59% -19% 7% 411%

Deal value growth by sector Q1 2011 - Q1 2012

600% 500% 400% 300% 200% 100% 0% -100% -200% Media Transactions Software & Services Ecommerce Marketing Mobile & Apps Hardware & Infrastructure Games -78% -77% -66% -25% 14% 113% 310% 521%

Deal number growth by sector Q1 2011 - Q1 2012

600% 500% 400% 300% 200% 100% 0% Games Media Marketing Software & Services Mobile & Apps Transactions Ecommerce Hardware & Infrastructure 87% 106% 130% 162% 200% 213% 335% 491%

Page 2

Deal number growth by region Q1 2011 - Q1 2012

600% 500% 400% 300% 210% 200% 100% 0% North America Europe Middle East Asia/Pacic South America 139% 320% 437% 550%

Average deal value by sector Q1 2011 - Q1 2012

Millions $800 $700 $600 $500 $400 $300 $200 $100 $0 Transactions Mobile & Apps Media Marketing Software & Services Ecommerce Games Hardware & Infrastructure $92 $8 $13 $9 $70 $11 $23 $17 $21 $153 $92 $24 $16 $47 $360 $755

Q1 2011

Q1 2012

Average deal value by region Q1 2011 - Q1 2012

$180 $160 $140 $120 $100 $80 $60 $40 $20 $0 Millions $155 $116

$65 $42 $0 $3 $4 $4 $12 $20 $5 Asia/Pacic Q1 2012 North America Europe $36

Africa

South America

Middle East Q1 2011

Page 3

Average deal value growth by region and deal type Q1 2011 - Q1 2012
1400% 1200% 1000% 800% 600% 400% 200% 0% -200% -56% Middle East -72% -85% Asia/Pacic Investments -31% -66% North America Acquisitions -78% Europe 0% 1307%

Average deal value growth by sector and deal type Q1 2011 - Q1 2012
1400% 1200% 1000% 800% 600% 400% 200% 0% 11% 0% -200% -93% -92% Transactions -43% -78% -40% -56% Software & Services -30% -51% Ecommerce -33% Hardware & Mobile & Apps Infrastructure Acquisitions -89% Media -40% Games 52% 1186%

113%

Marketing

Investments

Page 4


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 InternetDealBook.com 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 InternetDealbook.com and to no other party. Copyright Notice This report is compiled and published by InternetDealbook.com and is covered by copyright. All rights reserved. No part of the publication may be published, reproduced (see exception below), stored in a retrieval system, translated, or transmitted in any form or by any means now or hereafter known, electronic or mechanical, without permission in writing from the publisher, InternetDealbook.com. The copyright owner consents that copies of articles may be made for personal or internal use, or for the personal or internal use of the company, individual or organisation who requested the creation of this document from InternetDealbook.com. For those kinds of purposes, permission must be sought from the publisher using the following guidelines. If you have any questions regarding our rights and permissions policies, or if you have a special request not covered by these guidelines, please contact InternetDealbook.com

Page 5