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February 12, 2013

Stephens Expands Technology Investment Banking Group

Stephens Inc., a full-service investment banking and brokerage firm, today announced the expansion of its Technology Investment Banking group. Seven professionals, most recently from ThinkEquity, LLC, will bolster the firm’s banking efforts, working from Stephens’ Boston and San Francisco offices. The team will join forces with Stephens’ existing information services banking team based in Little Rock.

The ten-member technology team will focus on M&A and public and private equity and debt offerings fortechnology companies in the following fields: Application Software, Infrastructure and Security Software, Software as a Service (SAAS), Healthcare IT, Technology–Enabled Services, Data & Analytics, Communications and Enterprise IT Infrastructure and IT Services.

Newly introduced Managing Directors are Doug Brockway (Boston), Kurt Hoofnagle (San Francisco) and Steven O’Donnell (Boston). Additional professionals joining the Technology Investment Banking groupare Hayden Condon (VP - Boston), Amit Mujumdar (VP - San Francisco), Greg Hartlein (Associate -Boston) and Anuj Ralhan (Associate - San Francisco). This seven-member team has an impressive track record, successfully advising on more than 200 transactions (cumulative), totaling more than $30 billion in closed deal value.

“These professionals bring depth to technology industry subsectors and increased advisory and capital markets product expertise, which are important to our continued growth,” noted Kenny Gunderman and Brad Eichler, Executive Vice Presidents and Co-Heads of Investment Banking at Stephens Inc. “We have assembled a strong investment banking team to complement our industry-leading technology research capabilities. Currently, Stephens’ Equity Research has seven senior technology analysts, supported by eight research associates, covering more than 100 technology companies.”

“While macro-economic conditions have created volatility and retrenchment in investment banking, Stephens continues to grow and take market share. As a private institution, we can opportunistically hire when we find seasoned professionals who embrace Stephens’ values,” commented Curt Bradbury, Chief Operating Officer of Stephens Inc. “Technology is a critical component of our economy and will continue to grow in importance. This is a natural progression in Stephens’ development, as we have increased our investment banking team more than 100% in the past five years.”

Mr. Brockway was most recently a senior member of the Software investment banking team at ThinkEquity. He joined ThinkEquity in 2011 and has more than 20 years of investment banking experience. Previously, Mr. Brockway served as a Managing Director with Stifel Nicolaus Weisel, leading its Software and Healthcare IT investment banking practices. Mr. Brockway previously founded and led SG Cowen's Technology corporate finance group for its Boston office, and also served as a senior investment banker with Alex. Brown. Additional experience included serving as a Managing Director with Innovation Advisors, a technology-focused investment bank, as well as investment banking roles with Salomon Brothers and Whitman Heffernan Rhein & Co. Mr. Brockway earned an MBA from Harvard Business School and graduated with honors from Dartmouth College.

Mr. Hoofnagle was most recently the Head of ThinkEquity's Communications and Enterprise IT Infrastructure banking practices. Mr. Hoofnagle joined ThinkEquity in 2010 and has more than 15 years of investment banking experience. Previously, Mr. Hoofnagle covered the Communications and Enterprise IT Infrastructure sectors at RBC Capital Markets, JP Morgan and Lehman Brothers. Mr. Hoofnagle was awarded an MBA from The Wharton School at the University of Pennsylvania, and graduated from U.C.Berkeley with a B.A. in Economics.

Mr. O’Donnell served as a Managing Director in the Technology Investment Banking Group at ThinkEquity, with a sector focus on Software and Technology-Enabled Services. He joined ThinkEquity in 2010 and has 20 years of investment banking experience. Prior to joining ThinkEquity, Mr. O’Donnell led the East Coast Software and Technology Services coverage team for RBC Capital Markets. Previously, Mr. O’Donnell was with Dain Rauscher Wessels. Mr. O’Donnell earned an MBA from Duke University and a BSBA from Boston College.

Before joining Stephens, Mr. Condon worked as a Vice President in ThinkEquity's Software investment banking practice. He joined ThinkEquity in 2011 and has more than eight years of technology investment banking experience primarily focused in the Software, IT Services, and Healthcare IT subsectors. Mr. Condon spent several years as a member of the Technology and Healthcare groups at Stifel Nicolaus Weisel. Mr. Condon graduated with a B.A. in Economics from Colgate University.

Mr. Mujumdar most recently served as a Vice President in ThinkEquity’s Technology M&A group. He has more than 8 years of investment banking experience, completing transactions in software, IT services, digital media and semiconductors. Prior to joining ThinkEquity in 2010, Mr. Mujumdar was a Senior Associate at Lazard in its Technology, Media and Telecommunications M&A practice and an Associate at GCA Savvian. Mr. Mujumdar earned his MBA from The Rotman School of Management, University of Toronto and his undergraduate degree in Finance from McGill University.

Prior to joining Stephens, Mr. Hartlein was an Associate in ThinkEquity's Software investment banking practice. He joined ThinkEquity in 2011 and has more than four years of technology investment banking experience primarily focused in the software, IT services and healthcare IT subsectors. Before joining ThinkEquity, Mr. Hartlein spent several years as a member of the Technology and Healthcare groups at Stifel Nicolaus Weisel. Mr. Hartlein graduated with a BSBA in Finance and Economics from Drexel University.

Mr. Ralhan most recently served as an Associate in the Technology investment banking group at ThinkEquity. Prior to joining ThinkEquity, Mr. Ralhan was an Associate at GCA Savvian. Prior to investment banking, Mr. Ralhan worked in the technology sector with Cornerstone Technologies, Symantec and Riptech, serving in a number of roles in sales, product management, product marketing, corporate strategy & planning and services. Mr. Ralhan holds an MBA from Columbia Business School and the Haas School of Business through the joint Berkeley-Columbia Executive MBA program. Mr. Ralhan also holds an M.S. in Engineering Management, B.S. in Mechanical Engineering and a B.A. in Economics. 

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