Exhibit (c)(8)
| Supply Chain Software Company Trading Analysis |  |
Enterprise Value in millions as of (3/6/09)
Financial Data as of 12/31/08 unless otherwise indicated
Company Name | Market Cap | TEV | LTM | 2009E | 2010E | |||||||||||||||||||||||
| TEV/ Rev | TEV/ EBITDA | P/E | TEV/ Rev | TEV/ EBITDA | P/E | TEV/ Rev | TEV/ EBITDA | P/E | ||||||||||||||||||||
SCM Software | ||||||||||||||||||||||||||||
Ariba, Inc. | $ | 730.9 | $ | 635.4 | 1.9x | 235.3x | * | NM | 1.8x | 9.0x | 13.1x | 1.7x | 8.2x | 10.2x | ||||||||||||||
Descartes System Group, Inc. (2) | 118.7 | 63.9 | 0.9x | 3.9x | 5.0x | 1.1x | 4.4x | 11.4x | 1.1x | 3.9x | 11.9x | |||||||||||||||||
I2 Technologies, Inc. | 156.0 | 109.7 | 0.4x | 3.3x | 1.8x | 0.5x | 4.0x | 11.5x | 0.5x | 3.4x | 8.3x | |||||||||||||||||
JDA Software Group Inc. | 303.6 | 320.9 | 0.8x | 3.4x | 55.1x | * | 0.9x | 3.7x | 6.7x | 0.8x | 3.5x | 6.1x | ||||||||||||||||
Kewill plc (1) | 45.8 | 46.5 | 0.6x | 4.3x | 15.0x | 0.6x | 3.5x | 0.1x | * | 0.5x | 3.0x | 0.1x | * | |||||||||||||||
Manhattan Associates, Inc. | 332.6 | 246.9 | 0.7x | 5.1x | 15.0x | 0.8x | 4.5x | 11.5x | 0.7x | 4.0x | 9.7x | |||||||||||||||||
Mean | 0.9x | 4.0x | 9.2x | 0.9x | 4.8x | 10.9x | 0.9x | 4.3x | 9.3x | |||||||||||||||||||
Median | 0.8x | 3.9x | 10.0x | 0.8x | 4.2x | 11.5x | 0.8x | 3.7x | 9.7x | |||||||||||||||||||
Murphy (3) | 103.4 | 39.0 | 0.5x | 3.4x | 37.7x | 0.5x | 2.6x | 17.0x | 0.4x | 2.4x | 16.0x | |||||||||||||||||
Jones (3) | 61.8 | 14.5 | 0.3x | 1.2x | 11.0x | NA | NA | NA | NA | NA | NA | |||||||||||||||||
Source: Company filings and Bloomberg.
| * | Excluded from calculation of high, low, mean and median |
| (1) | LTM as of 9/30/08. |
| (2) | LTM as of 10/31/08. |
| (3) | LTM as of 1/31/09. |
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