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PRECENDENT TRANSACTIONS SUMMARY 7 ($13 - $25 MILLION) ($ in millions) ($ in millions) ($ in millions) Enterprise Value / Enterprise Value / Enterprise Value / Date Date Date Target Cash/ Transaction Cash/ Transaction Transaction Target Target Cash/ Announced Value Announced Target Target Acquiror Announced Industry Stock Value Revenue EBITDA Revenue Value Revenue EBITDA Industry Industry Acquiror Acquiror Stock EBITDA Stock Target 8/28/2006 Cash Desktop SW Desktop SW 8/28/2006 $193 Cash Corel Corp Corel Corp 2.1x 2.1x InterVideo $193 6.0x 6.0x InterVideo Corel Corp 8/28/2006 Desktop SW Cash $193 2.1x 6.0x InterVideo [REDACTED] [REDACTED] Hybrid 11.4x 11.4x AlphaSmart, Inc. Renaissance Learning, Inc. 1/26/2005 Edu Software Hybrid $57 3.8x 11.4x $57 $57 AlphaSmart, Inc. Hybrid 3.8x 3.8x Edu Software AlphaSmart, Inc. Edu Software Renaissance Learning, Inc. 1/26/2005 Renaissance Learning, Inc. 1/26/2005 [REDACTED] [REDACTED] Navarre Corporation Navarre Corporation 8/5/2002 Cash 8/5/2002 Cash NA NA Encore Software, Inc. Navarre Corporation 8/5/2002 Edu Software Cash NA NA NA Encore Software, Inc. NA NA NA Edu Software Edu Software Encore Software, Inc. NA [REDACTED] [REDACTED] $63 $63 K12 Inc 16.5x 1.8x KC Distance Learning 1.8x 16.5x K12 Inc K12 Inc Distance Learn 7/26/2010 Stock Distance Learn Stock 7/26/2010 KC Distance Learning KC Distance Learning [REDACTED] 7/26/2010 Distance Learn Stock $63 1.8x 16.5x [REDACTED] Sonic Solutions Consumer SW 1.5x Roxio (Consumer Software Div.) 1.5x Consumer SW Roxio (Consumer Software Div.) [REDACTED] 8/9/2004 Consumer SW Hybrid $83 1.5x 10.0x 10.0x Sonic Solutions Sonic Solutions $83 $83 10.0x Hybrid Hybrid Roxio (Consumer Software Div.) 8/9/2004 8/9/2004 [REDACTED] 11.0x 11.0x $99 $99 Mean Mean $99 2.3x 11.0x Mean 2.3x 2.3x Median $73 2.0x 10.7x 2.0x Median Median 10.7x $73 $73 10.7x 2.0x