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1	2008 IT Services Merger & Acquisition Insight Martin Wolf Securities Monday, March 31, 2008
2	Table of Contents
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4	MWS Highlights Founded 1997, Headquartered in the San Francisco Bay Area Member FINRA, SIPC Completed over 75 IT Transactions Mid-market focused: Average deal size is $42M Vertically focused IT Professional Services Business Process Outsourcing IT Supply Chain Services International coverage Transactions closed in Canada, France, India, South Africa, United Kingdom and United States Highest ranked "IT Outsourcing" boutique investment bank*
5	MWS Ranking
6	Representative Clients
7	MWS Last Ten Selected Transactions
8	MWS Active Engagements Sell Side Ion - Multi-Location Solution Provider Skiritai – Government Solutions Provider Superstar - IT Supply Chain Services Provider Buy Side Catamaran – IT Outsourcing Provider - Closed Regal - Engineering Services Provider Renaissance - IT Services Provider Solar - International Solution Provider - Closed
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10	Case Study 1 - Project Grand Prix – Sell-side Engagement Client Description: Saber Corp. - Developer of software and provider of IT solutions to state and local government agencies Strategic Objectives: Provide liquidity to the two founders and principal shareholders Enable management to remain autonomous Provide access to additional resources and opportunities Results: Identified the right financial partner with domain expertise Exceeded the shareholders’ valuation expectations Provided a vehicle to catapult the business into an industry leader
11	Saber Shareholders Return Realized exceptional returns of 2.62x Rev in 2 years
12	Case Study 2 - Project Catamaran – Buy-side Engagement Client Description: Rolta India Ltd. - Non-U.S. based public IT services provider looks to acquire an ERP platform firm in the U.S. Strategic Objectives: Expand existing ERP services capabilities Leverage extensive client base to cross sell services Strengthen presence in North America Results: Timely casted a wide net Ran a duel process Successfully acquired a true platform firm for a favorable valuation
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14	2007 IT Services M&A Overview Three V’s
15	2007 IT Services M&A Overview - Valuation Trends SENSEX vs. SSEC vs. NASDAQ vs. FTSE 100 vs. DAX
16	2007 IT Services M&A Overview - Valuation Trends MWS Index ®
17	2007 IT Services M&A Overview - Valuation Trends IT Professional Services & BPO EV/REV
18	2007 IT Services M&A Overview - Valuation Trends IT Professional Services & BPO Companies Directory
19	2007 IT Services M&A Overview – Transaction Statistics WSJ 52 Week Deal Volume
20	2007 IT Services M&A Overview – Transaction Statistics Deal Value vs. Volume
21	2007 IT Services M&A Overview – Transaction Statistics Deal Activities by Geography
22	2007 IT Services M&A Overview – Transaction Statistics Deal Activities by Size
23	2007 IT Services M&A Overview Top Ten Transactions of the Year
24	2007 IT Services M&A Overview Value Creation or Distraction? – Keane Inc.
25	2007 IT Services M&A Overview Value Creation or Distraction? – Bisys Group Inc.
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27	2008 IT Services M&A Outlook Driving Forces
28	2008 IT Services M&A Outlook - Driving Force USD vs. EUR
29	2008 IT Services M&A Outlook - Driving Force USD vs. INR
30	2008 IT Services M&A Outlook - Driving Force Dollar vs. Yuan
31	2008 IT Services M&A Outlook Predictions
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