Overview of Transaction

• On September 3, 2014, KUBRA announced its 80% sale to the Hearst Corporation ("Hearst")
• Backed by Clairvest, KUBRA provides billing and payment solutions to customers across multiple industry verticals via electronic and physical channels
• The Company has grown to be a leader in the emerging Customer Interaction Management industry

Significance of Transaction

• The acquisition increases Hearst's presence in both the billing and payments space (already owning CDS Global), while strengthening its foothold in the utilities vertical
• CDS Global provides customer relationship management solutions to publishers, direct marketing firms, etc.
• Clairvest realized proceeds equal to 13.5x invested capital and an internal rate of return (“IRR”) of over 40% over eight years

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to KUBRA and its Board of Directors
• FT Partners leveraged its deep knowledge, extensive experience (understanding all the unique aspects of the Company's billing, payments, outsourcing, customer interaction and electronic commerce businesses) and broad industry relationships to help achieve a highly favorable outcome for stakeholders
• Successfully helped find a unique acquirer
• Transaction demonstrates FT Partners' continued success advising top-tier financial technology companies