Q2 2022 Digital Services sector update Qualitative insights into broader Digital Services trends and public and private valuations across the transaction spectrum, and interviews with today’s leaders transforming the sector. Important disclosures appear at the end of this report GP Bullhound Corporate Finance Ltd and GP Bullhound Asset Management Limited are authorised and regulated by the Financial Conduct Authority GP Bullhound Inc is a member of FINRA GP Bullhound Hong Kong Limited is authorised and regulated by the Securities & Futures Commission GP Bullhound Luxembourg Sàrl is authorised as an AIFM in Luxembourg by the Commission de Surveillance du Secteur FinancierTakeaways ? Salesforce is becoming a dominant force to tackle various challenges companies face with online commerce, particularly for large retailers and consumer-facing businesses SALESFORCE CAPABILITIES ARE GROWING IN ? This strong demand is reflected in Commerce Cloud’s (formerly PROMINENCE DUE TO SHIFT TO Demandware) annual growth of 36% ? Several key consolidators in the space have added Salesforce capabilities via strategic acquisitions. These include IBM, Atos, Globant, Infosys and PwC E