1、Connectivity SoftwareMARKET UPDATE|Q1 2023Global Connectivity Software Team2Ido ZakaiManaging DirectorTel ASara NapolitanoManaging DirectorP20+20+20+senior officers dedicated to the sponsor community in North America and Europe1,4001,400InvestorsSean FitzgeraldManaging DirectorNew YChris HebbleManag

2、ing DirectorLos ARishabh BansalAssociateSan FU.S.TeamU.K.TeamGlobal ReachSenior LeadershipFinancial SponsorsCapital MarketsVik PanditManaging DirectorNew YWill CooperVice PresidentNew YThomas GrigglestoneFinancial AnalystBChristian MaherManaging DirectorLGreg WidroeManaging DirectorLChris GodsmarkMa

3、naging DirectorLLeticia Plaza MarinVice PresidentLEd WirgmanManaging DirectorLRaymond Frjd Managing DirectorSSameer JindalManaging DirectorMHisashi YoshimuraManaging DirectorTokyohisashi.yoshimurahL.comSascha PfeifferManaging DirectorHead European Technology;Global Head SoftwareFJason HillManaging D

4、irectorGlobal Head Digital Infrastructure;Co-Head US TechnologyBRob LouvChairman of U.S.Technology San FEwan JonesFinancial AnalystNew YTable of Contents3Page1.Key Updates From Q142.Notable Transactions73.Transaction Case Studies104.Notable Happenings185.Appendix22About Houlihan Lokey23Page1.Key Upd

5、ates From Q142.Notable Transactions73.Transaction Case Studies104.Notable Happenings185.Appendix22Heres What Happened in Q1 20235Equity Capital Markets Remained OpenWhile the pace of deal-making significantly slowed in Q1,several companies managed to complete significant growth equity raises:Compani

6、es Developed Strategic M&A PlansCompanies with scale($20 million+revenue)began actively searching for inorganic growth opportunities to build on their positions in their respective end markets.In the lower end of the market($10 million revenue),numerous add-on opportunities have emergedparticularly