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JMI

In This Issue
Recent Investments Recent IPOs and M&A Portfolio Company News JMI Team News

Overview
Investment Activity
Founded in 1992, JMI is a growth equity firm with more than $2.1 billion of capital under management. Over the last 20 years, we have invested in more than 110 software, business services, internet and healthcare IT companies, and successfully completed over 60 sales and IPOs. We partner with exceptional management teams to help them build their companies into industry leaders. In 2012, we invested $164 million in four new portfolio companies: Innovative Interfaces, Capsule Tech, Paradigm and WhiteHat Security. We also completed follow-on investments in BigMachines and Ellucian.

IPOs and M&A

In February 2013, Eloqua (NASDAQ: ELOQ) was acquired by Oracle (NASDAQ: ORCL) for approximately $1 billion; the Company completed an initial public offering in August. In November, ServiceNow (NYSE: NOW) completed a $451 million follow-on offering; the Company completed an initial public offering in June. In July, Gemcom was acquired by Dassault Systmes (Euronext Paris: #13065, DSY.PA) for approximately $360 million. In May, TC Health was acquired by Emdeon. In February, iContact was acquired by Vocus, Inc. (NASDAQ: VOCS). In January, Arrowhead GIA was acquired by Brown & Brown, Inc. (NYSE: BRO) for $400 million.

Team
In 2012, JMI added six new employees and promoted four employees.

Recent Investments
On December 27, 2012, JMI completed a strategic growth investment in WhiteHat Security, a leading provider of on-demand website and web application security software. WhiteHat's solutions help companies prevent attacks on corporate websites and web applications.

Santa Clara, CA

JMI Team: Peter Arrowsmith, Matt Emery, Robbie Lim, Kristina Shen

On July 30, 2012, JMI and Apax Partners acquired Paradigm, the largest independent provider of software to the oil and gas exploration (E&P) market. Paradigm's solutions enable scientists and engineers to optimize complex drilling and production decisions.

Houston, TX

JMI Team: Bob Smith, Bob Nye, Larry Contrella

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Paris, France and Andover, MA

On June 29, 2012, JMI completed a strategic growth investment in Capsule, a leading provider of medical device connectivity (MDC) solutions to the global hospital market. Capsule's solutions automate the integration of data from medical devices into electronic medical records (EMRs), enabling them to work more efficiently and promote greater patient safety. JMI Team: Harry Gruner, Matt Emery, Sureel Sheth, Eric Hu

On February 29, 2012, JMI and Huntsman Gay Global Capital completed a strategic growth investment in Innovative, a leading provider of library automation software and systems. Innovative's solutions support the day-to-day operations of over 4,500 public, academic and specialty libraries.

Emeryville, CA

JMI Team: Paul Barber, Brian Hersman, Bobby Cesafsky, Robbie Lim

Recent IPOs and M&A

On February 8, 2013, Oracle (NASDAQ: ORCL) announced that it had acquired Eloqua (NASDAQ: ELOQ), a leading provider of cloud-based marketing automation and revenue performance management software for $23.50 per share or approximately $1 billion.

Vienna, VA

On August 1, 2012, Eloqua completed an initial public offering of 8,000,000 shares of common stock at $11.50 per share.

On November 20, 2012, ServiceNow, Inc. (NYSE: NOW), a leading provider of cloudbased services to automate enterprise IT operations, completed a follow-on public offering of 16,100,000 shares of common stock at $28.00 per share.

San Diego, CA

On June 28, 2012, ServiceNow completed an initial public offering of 11,650,000 shares of common stock at $18.00 per share.

Vancouver, Canada

On July 11, 2012, Gemcom was acquired by Dassault Systmes (Euronext Paris: #13065, DSY.PA), a provider of application software and services that support industrial processes across a range of industry verticals, in a transaction valued at approximately $360 million. Gemcom provides geological modeling and simulation software to the mining and natural resources industry.

Irvine, CA

On May 7, 2012, TC Health was acquired by Emdeon Inc., a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions. TC provides cost containment solutions, including payment integrity and outof-network claims cost management, to U.S. healthcare payers.

San Diego, CA

On January 9, 2012, Arrowhead GIA was acquired by Brown & Brown, Inc. (NYSE: BRO), the sixth largest insurance broker in the U.S., in a $400 million all cash transaction. Arrowhead is a leading provider of outsourced product development, marketing and administrative services to national insurance carriers.

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Portfolio Company News

On October 8, 2012, PointClickCare, an electronic health record (EHR) platform for the long-term care industry, announced that it had acquired Accu-Med Technology Solutions. Accu-Med delivers integrated financial and clinical software solutions for longterm care providers, allowing PointClickCare to extend the reach of its EHR solutions across the long-term and post-acute care segments.

Mississauga, Canada

On September 17, 2012, BigMachines, a leading provider of SaaS solutions that help companies automate and streamline complex sales processes, announced that it had raised additional capital from new investor Salesforce.com and existing investors JMI and Vista Equity Partners . The new capital will be used to build out the Companys product portfolio and extend its leadership and technology in the configuration, pricing and quoting (CPQ) market.

Chicago, IL

In August 2012, the Company was named to the Inc. 500|5000 list for the fifth consecutive year. BigMachines was ranked No. 1129 overall, No. 97 in Software and No. 27 in Software based on revenue.

In August 2012, Axeda was named to the 2012 Inc. 5000 list for the third consecutive year. Axeda is a leading provider of cloud-based software for managing connected products and implementing machine-to-machine (M2M) applications.

Foxboro, MA

In August 2012, Navicure was named to the 2012 Inc. 5000 list for the fifth consecutive year. Navicure is a leading internet-based medical claims clearinghouse for physician practices.

Atlanta, GA

In June 2012, Kronos CEO Aron Ain received the Ernst & Young Entrepreneur of the Year Award in the technology category for the New England region.

Chelmsford, MA
On May 3, 2012, The Search Agency, an online search marketing agency, announced the purchase of The Acquisition Agency, a Toronto-based digital marketing firm. The acquisition allows The Search Agency to expand its core offering into Canada.

Los Angeles, CA

In May, The Search Agency announced that it was named the largest independent U.S. search marketing agency by Advertising Age magazine. This was the fifth consecutive year that the Company was included in the top search agency list.

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El Segundo, CA

On March 7, 2012, Internet Brands announced that it had acquired Forum Runner, a mobile application that allows forum users to interact with online communities from mobile devices. Forum Runner will operate as part of the Companys vBulletin software division.

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Beltsville, MA

On February 28, 2012, iContact was acquired by Vocus, Inc. (NASDAQ: VOCS), a leading provider of cloud-based marketing and PR software. iContact, a leading provider of cloud-based email and social marketing software, is the latest addition to the Vocus marketing suite.

On January 20, 2012, Appriss announced the acquisition of Mobile Patrol, a provider of smartphone applications serving local county sheriff's offices. Appriss is a leading provider of SaaS solutions to law enforcement agencies.

Louisville, KY

JMI Team News

Promotions
Senior Associate Larry Contrella was promoted to Senior Associate in August 2012. Larry supports the firm's investments in Adknowledge, DoubleVerify and Paradigm. Prior to joining JMI in 2010, Larry was an Analyst in the MultiIndustries Investment Banking Group at Merrill Lynch & Co. Sureel Sheth was promoted to Senior Associate in August 2012. Sureel supports the firm's investments in Capsule Tech, Courion, Halogen Software, PointClickCare and Vocalocity. Prior to joining JMI in 2010, Sureel was a Business Analyst at McKinsey & Company. Finance & Investor Relations Randy Guttman was promoted to Vice President of Finance in December 2012. Prior to joining JMI in 2007, Randy was a Senior Associate in the Assurance and Advisory Business Services practice of Ernst & Young. He received a BS in Accounting and Finance from the University of Maryland and is a Certified Public Accountant. Melissa Caslin was promoted to Senior Associate, Investor Relations and Marketing in December 2012. Melissa is focused on marketing and investor relations, as well as the firm's recruiting efforts. She joined JMI in 2007 upon receiving a BBA in Finance from Loyola College of Maryland and is currently pursuing her MBA at The Johns Hopkins Carey Business School.

New Hires
General Counsel Kathy Fields will join the San Diego office in March 2013. Prior to joining JMI, Kathy was a Partner in the Corporate, Private Equity and Technology Companies Groups at Goodwin Procter LLP. Kathy has worked with JMI Equity and a number of our portfolio companies for the last 8 years. She received a BS from Indiana University and a JD from Stanford Law School. Vice President Marc Munfa joined the Baltimore office in August 2012 as a Vice President. Prior to joining JMI, Marc was an Associate at Morgan Stanley Private Equity. He also worked as an analyst at Morgan Stanley Real Estate. Marc received a BA in Economics and History from Duke University, and an MBA from the Harvard Business School. Suken Vakil joined the San Diego office in August 2012 as a Vice President. Prior to joining JMI, Suken was an Associate at Hellman & Friedman. He also worked at Morgan Stanley in the Financial Sponsors Group. Suken received a BA in Computer Science and a BS in Business Administration from the University of California at Berkeley, and an MBA from the Harvard Business School.
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Associate Hasan Ali joined the Baltimore office in August 2012 as an Associate. Prior to joining JMI, Hasan was a Senior Analyst in the Technology Investment Banking Group at RBC Capital Markets. He received a BA in Economics from the University of California at Berkeley. Jennifer Ding joined the San Diego office in February 2012 as an Associate. Prior to joining JMI, Jennifer was a Business Analyst at McKinsey & Company. She received an AB in History with a minor in Economics from Harvard University. Scott McKenzie joined the Baltimore office in August 2012 as an Associate. Prior to joining JMI, Scott was an Associate at L.E.K. Consulting. He received a BS in Economics and a Certificate in Film from Duke University, and a Masters in Management Studies from Duke's Fuqua School of Business. Kristina Shen joined the San Diego office in August 2012 as an Associate. Prior to joining JMI, Kristina was an Analyst in the Technology, Media and Telecommunications Group at Goldman Sachs and the Technology Group at Credit Suisse. She received a BA in Operations Research and Management Science from the University of California at Berkeley.

Baltimore 100 International Drive Suite 19100 Baltimore, MD 21210 P (410) 951-0200 F (410) 637-8360

San Diego 7590 Fay Avenue Suite 301 La Jolla, CA 92037 P (858) 362-9880 F (858) 362-9879

Copyright 2013 JMI Equity. All rights reserved.

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