EFTA Document EFTA01374937

SRLI5102 Alpha Group Capital Tekelec: Summary Transaction Overview at Entry Overview Business Description Closing Date Capital Structure at Entre Co-Investors Executive Partners • Global leader in control software technology for telecom networks • Acquisition: January 27, 2012 • Exit: June 10, 2013 • Total Equity & Debt: Total Equity: Total Debt: 5624 mm 5260 mm 5364 mm • LPs co-invested $52.5 nun (20% of equity) • Other co-investors: G5O Capital Partners .. ComVest Sanlcaty Advisors ZM Capital • Merle Gilmore, Rod Randall, Rick Mace Entry Valuation Sr Liquidity/Leverage Acquisition Debt Transaction Structure [ Holding Company 100.0% 100.0°A) GSS Businesses ("Bond") BNS Business ("Call Option") ($70mm of cash on balance sheet to fund losses & restructuri 2011A Bond Revenue: $362 mm EBITDA: $163 mm €1A Cali evenue. $55 mm 13 ITDA: ($91) nun Entry Summary Financials (TY December 2011:1) Valuation • TEVIII / PFAU lA Bond EBITDA: 2.9x t iu will' Total Projected Cost Savings PF Total • $30 mm of minimum cash on balance sheet Revenue $417 5417 PF EBITDA(3) 572 534 5106 Liquidity/ ■ $70 mm in cash to fund Call Option losses and leverage restructuring % Margin 17.3% 25.4% • Net Debt'2) / PF2011 A Bond EBITDA: 1.7x NOW Pleale sox Appendix—Fooinct.," and 'Sint Disclaimer" and 'tooStudies" for importer* tnfonnationt additionalconsiderate:ins end definitions. (II The Call Option divis•Pri atoned negative ENTDA at dvi time of acquisnmet Sin Included the cash DB onthebalance sheet to fund the Call Option division laws tho TEV cakularion and then divides the TEV by the legacy Bond divnean EBITDA. pro Noma for prom-ted .wt scamp. to amve a the purchase multiple. Tad Eau-True Value Car) a. WPM mm toid debt • $2e0.5 nun total equity • N02 nun transaction expenses- NCt0mra 11WIMIUT cmh - S.So4.2 wen / 006.4 ran P1201 IA Rood EN IDA lox. SIRIS (2) Net Debt • NAB Mat total dek Mean minimum cash • SatCl9 ram not debt / ft neA ram PF NI IA Pond EBITDA I.7a. • addition pro forma ENTDA for Bondonly comoloration in punkas> midtirdo whentv Call Orton rented rsvativu EBITDA CB Pro Fenno ENT DA represents inclusion °Ole's' projected roes staravdi (opmacisper) over initial two yen, primarily attributable to Bond division mit realized at entry. 'Therecan be no assurance such coat savings wdl be achieved. In 52 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0069895 SDNY_GM_002 16079 EFTA01374937