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VC Exits in Mobile
VC Exits(1) in Mobile(2)
2001-2012 YTD $ billion 16.0 14.0 IPO Exits 12.0 10.0 8.0 6.0 4.0 2.0 0.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD
Source: Rutberg & Company (1) Exit values calculated as market capitalization at IPO offer date or M&A announced date. Only incremental market cap included for companies with multiple transactions. (2) Excludes wireless operators and tower owners and operators.
Pandora Ubiquiti Atheros NextG First Avenue Good Qpass Flarion Airespace Jamdat Aruba Starent Tellme
M&A Exits
Source: Rutberg & Company (1) Excludes wireless operators and tower owners and operators.
VC Exits in Mobile2011
Selected VC Exits in Mobile(1)
2011
Company Atheros Pandora Media Ubiquiti Networks NextG Networks InvenSense LitePoint NetQin Boingo Wireless Icera Epocrates Sequans Kobo Tangoe Provigent SiGe Zong Bridgewater Vocollect BCD Qik Where SVOX Continuous Computing Fundamo OpenFeint Swype Adenyo NewBay Software Sector Semiconductor Consumer Telecom Infrastructure Telecom Infrastructure Semiconductor Other Consumer Other Semiconductor Enterprise Semiconductor Consumer Enterprise Semiconductor Semiconductor Other Telecom Infrastructure Enterprise Semiconductor Consumer Consumer Other Telecom Infrastructure Consumer Consumer Device Marketing & Advertising Telecom Infrastructure Transaction M&A IPO IPO M&A IPO M&A IPO IPO M&A IPO IPO M&A IPO M&A M&A M&A M&A M&A IPO M&A M&A M&A M&A M&A M&A M&A M&A M&A Acquirer / Exchange Qualcomm NYSE: P NASDAQ: UBNT Crown Castle NYSE: INVN Teradyne NYSE: NQ NASDAQ: WIFI Nvidia NASDAQ: EPOC NYSE: SQNS Rakuten NASDAQ: TNGO Broadcom Skyworks eBay's PayPal Amdocs Intermec NASDAQ: BCDS Skype eBay's PayPal Nuance Communications RadiSys Visa Gree Nuance Communications Motricity RIM Date 1/5/2011 6/14/2011 10/13/2011 12/16/2011 11/15/2011 9/15/2011 5/4/2011 5/3/2011 5/9/2011 2/1/2011 4/14/2011 11/9/2011 7/26/2011 3/21/2011 5/17/2011 7/27/2011 6/17/2011 1/18/2011 1/28/2011 1/6/2011 4/20/2011 6/15/2011 5/4/2011 6/9/2011 4/21/2011 10/7/2011 1/31/2011 10/7/2011 TV / MC ($MM) 3,100 2,555 1,346 1,000 595 580 498 439 367 356 345 315 314 313 275 240 215 190 186 150 135 126 120 110 104 103 100 100
Source: Rutberg & Company (1) Excludes wireless operators and tower owners and operators.
Winphoria
Spatial
Flarion
ChinaGrenTech First Avenue Synchronoss Followap Mobile 365 Qpass @Road Good m-Qube
Airvana NeutralTandem Starent Veraz IPWireless LGC Navini Syndesis Aruba Ubiquity WhereNet Enpocket ScreenTonic Tegic
Apertio Danger Oz
Enterprise
Airespace
Meru
Vocera
Marketing & Advertising Device Semiconductor Resonext Handspring Atheros CSR SiRF Alphamosaic Matrics iPass InPhonic China Techfaith Matrix Modem-Art
Quattro
Millennial Amobee
TPK Holding Swype Cinterion Beceem Intrinsity BCD Audience InvenSense Sequans SiGe Atheros Icera Provigent Boingo Fundamo LitePoint SVOX Zong Clairmail
Other
Source: Rutberg & Company (1) Excludes wireless operators and tower owners and operators.
AutoNavi
Telecom Infrastructure
Semiconductor
Enterprise
Consumer
Device
% Total 7% 6% 5% 4% 3% 2% 1% 0%
VC Investments
M&A Exits
IPO Exits
Source: Rutberg & Company (1) Exit values calculated as market capitalization at IPO offer date or M&A announced date. Only incremental market cap included for companies with multiple transactions. (2) Excludes wireless operators and tower owners and operators.
Thank You
Rajeev Chand Managing Director Head of Research rchand@rutbergco.com Nick Mayberry Senior Equity Research Associate nmayberry@rutbergco.com Kyle Spraker Equity Data Associate kspraker@rutbergco.com
Robert C. Harris Vice Chairman, Investment Banking Office: (415) 371-1186 rharris@rutbergco.com Bryan B. Rutberg Chief Executive Officer Office: (415) 371-1186 brutberg@rutbergco.com
Joseph S. Sanborn Managing Director, Head of M&A Office: (617) 262-6694 jsanborn@rutbergco.com
SAN FRANCISCO 351 California Street, Suite 1100 San Francisco, CA 94104 Telephone: (415) 371-1186
BOSTON 800 Boylston Street, 16th Floor Boston, MA 02199 Telephone: (617) 262-6694
LONDON Rutberg Summit: London April 23-25, 2012 Claridges Hotel London, England
SAN FRANCISCO Future:Mobile June 18-19, 2012 Westin Market Street San Francisco, California
RANCHO PALOS VERDES Wireless Influencers October 21-23, 2012 Terranea Resort Rancho Palos Verdes, California