Marketing and Data Services Bi-Weekly Industry Events & M&A Update — September 14–28, 2026

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BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

INDUSTRIALS › COMMERCIAL AND PROFESSIONAL SERVICES › MARKETING AND DATA SERVICES

Leadership and Owned Data Decide the Period as Most Names Give Ground

This update covers sector movers, company events and transaction activity for September 14–28, 2026.

September 14–28, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28

Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice

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1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   INDUSTRIALS › COMMERCIAL AND PROFESSIONAL SERVICES › MARKETING AND DATA SERVICES

   Cover slide introducing the bi-weekly Marketing and Data Services update for September 14–28, 2026.

   We open with the state of the Marketing and Data Services sector over the two weeks ending September 28, 2026. This update walks through what moved, what happened, what transacted, and what it means for owners, acquirers and advisors.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE INDUSTRIALS › COMMERCIAL AND PROFESSIONAL SERVICES › MARKETING AND DATA SERVICES Leadership and Owned Data Decide the Period as Most Names Give Ground This update covers sector movers, company events and transaction activity for September 14–28, 2026. September 14–28, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28 Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   Companies Traded on What They Own and Who Runs Them, Not on Transactions

   This slide gives the two-week bottom line: 6 of 9 covered names fell, with the median move at -2.3% versus the S&P 500's +0.8%.

   Six of the nine names we track gave ground this period, with the median move at -2.3% against the S&P 500's +0.8% — a sector that lagged the broader market. Innodata Inc. (INOD) led at +20.9% while QuinStreet, Inc. (QNST) trailed at -23.1%, a spread wide enough to separate the two into different tiers of our standing view. Leadership changes at Similarweb Ltd. (SMWB) and Angi Inc. (ANGI), plus new product launches at Genius Sports Limited (GENI) and TechTarget, Inc. (TTGT), show companies leaning on new leaders and new products to reset the narrative. Spire Global, Inc. (SPIR) added a $33.2 NOAA task order, the period's clearest sign that owned data can be sold under contract rather than campaign by campaign. So what: performance this period tracked what companies own and who runs them, not who transacted.

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   THE BI-WEEKLY BOTTOM LINE Companies Traded on What They Own and Who Runs Them, Not on Transactions The two-week period in one page · 9 covered names, close-to-close · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 2 1 Most Covered Names Gave Ground over the Two-Week Period 6 of 9 covered names fell; the median move was -2.3%, against +0.8% for the S&P 500 over the same window. 2 The Gap Between the Best and Worst Performer Was Wide Innodata Inc. (INOD) returned +20.9% while QuinStreet, Inc. (QNST) returned -23.1%. Both are wide of the -2.3% median, and the two sit in different tiers of NeuraCap's standing view. 3 Companies Put New Leaders and New Products in Front of the Market Similarweb Ltd. (SMWB) and Angi Inc. (ANGI) each named a new chief executive, Genius Sports Limited (GENI) launched a consumer prediction platform, and TechTarget, Inc. (TTGT) launched a person-level intent data product. 4 Contracted Government Revenue Was the Period's Clearest Commercial Win Spire Global, Inc. (SPIR) was awarded a $33.2 million NOAA task order for satellite weather data. It is the period's plainest example of a data asset being paid for under contract rather than campaign by campaign. +20.9% Best mover — Innodata Inc. (INOD) worst: QNST -23.1% · 3 up / 6 down of 9 covered -2.3% Sector median two-week return vs S&P 500 +0.8% 1 Company filings in the window 8-K events read for driver attribution

3. 03
   PUBLIC MARKET MOVERS

   One Move Has a Named Development Behind It; One Does Not

   This slide shows the two-week close-to-close price moves for covered names against sector and market benchmarks.

   Innodata Inc. (INOD) rose +20.9% after naming Admiral Michael S. Rogers to its board in support of Federal and cyber-related AI initiatives, giving that move a named development behind it. QuinStreet, Inc. (QNST) fell -23.1% with no in-window development we can point to, so the record treats it as unexplained. Both sit well outside the sector's -2.3% median and the ±14.3% materiality bar, marking them as the period's clearest outliers. So what: only one side of this spread has a recorded catalyst — the other side is a name to watch for a lagging disclosure.

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   PUBLIC MARKET MOVERS One Move Has a Named Development Behind It; One Does Not Bi-Weekly moves, close-to-close · September 14–28, 2026 · sector median -2.3% · S&P 500 +0.8% · materiality bar ±14.3% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median -2.3% QuinStreet, Inc. (QNST) -23.1% No notable in-window news was identified that clearly explains the move. The -23.1% return sits far below the -2.3% median across covered names. Core-tier customer-acquisition models can reprice sharply without a visible company development behind the move. UNEXPLAINED Innodata Inc. (INOD) +20.9% Innodata Inc. (INOD) named Admiral Michael S. Rogers an independent director on Sep 15, linked to Federal and cyber-related AI initiatives. For a Premium-tier name, governance and federal credibility are read as part of the demand story, not as housekeeping. COMPANY-SPECIFIC

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   New Chief Executives, New Products and a Contracted Data Win

   This slide lists the two-week period's highest-impact company events, each linked to its underlying filing or article.

   Similarweb Ltd. (SMWB) and Angi Inc. (ANGI) each installed a new chief executive, putting fresh leadership in front of the market. Genius Sports Limited (GENI) launched a consumer prediction platform and TechTarget, Inc. (TTGT) launched a person-level intent data product, both productising proprietary data. Spire Global, Inc. (SPIR) was awarded a $33.2 NOAA task order for satellite weather data, converting a data asset into contracted revenue. So what: the period's catalysts cluster around leadership and owned-data products, the two levers management teams control directly.

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   MAJOR NEWS & INDUSTRY CATALYSTS New Chief Executives, New Products and a Contracted Data Win The two-week period's highest-impact events · titles link to the underlying filing or article · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 24 · NEWS · Business Wire Similarweb appoints Michael Akkerman as chief executive, effective November 2, 2026 Similarweb Ltd. (SMWB) is a Core-tier subscription data business, where renewals and net revenue retention govern value. A new chief executive owns those questions from day one. In subscription data, leadership changes land directly on the renewal and retention conversation. Sep 22 · NEWS · Business Wire Spire Global wins a $33.2 million NOAA task order for satellite weather data Spire Global, Inc. (SPIR) converted a proprietary data asset into contracted government revenue. That is the revenue quality the sector prices highest: renewing, non-discretionary and tied to a defined procurement. Government procurement is a live demand channel for geospatial and satellite subscription data. Sep 22 · NEWS · GlobeNewsWire Angi appoints Michael Steib as CEO as the company moves from turnaround to growth Angi Inc. (ANGI) sits in the Discount tier of NeuraCap's standing view. A leadership change framed around growth puts the focus on marketplace conversion and the quality of demand the platform delivers. Marketplace models are judged on lead accept and conversion rates before they are judged on headline revenue. Sep 17 · NEWS · Business Wire Genius Sports launches Prediction.com, a consumer platform for prediction markets and event contracts Genius Sports Limited (GENI) is extending a rights-linked data position into a consumer-facing product. It is an attempt to earn more from the same underlying feeds. Owners of long-dated data rights are testing whether they can monetise them directly, not only through partners. Sep 15 · 8-K · SEC EDGAR Innodata adds former NSA director Admiral Michael S. Rogers to its board The appointment carries annual cash compensation of $75,000 plus an equity grant, and was presented as support for Federal and cyber-related AI initiatives. It signals where Innodata Inc. Board composition is being used to signal which customer pools a data business intends to serve. Sep 15 · NEWS · Business Wire TechTarget launches Buyer Intelligence, a person-level intent data product for B2B go-to-market TechTarget, Inc. (TTGT) is packaging first-party intent data into a product rather than selling it as campaign inventory. That shift is what separates contracted data revenue from project work. Owned intent signal is being productised as identifier-dependent targeting becomes harder to rely on.

5. 05
   M&A & STRATEGIC ACTIVITY

   No New Transactions Landed; The Existing Record Sets the Reference Points

   This slide reports that no new sector transactions closed in the window, and sets out the trailing precedent record for reference.

   No new transactions landed in the two-week period, so the existing record stands as the reference point. The trailing set holds 39 recorded deals at a median of 8.8x EV/LTM EBITDA. NeuraCap's standing sector median sits at 5.5x on CY2027E EV/EBITDA, with the Premium tier at 43.1x. So what: with the transaction record quiet, the public multiples this period are the more current pricing signal for owners and acquirers.

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   M&A & STRATEGIC ACTIVITY No New Transactions Landed; The Existing Record Sets the Reference Points September 14–28, 2026 · precedent transactions: 39 recorded deals · median 8.8x EV/LTM EBITDA Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 5 No Material Transactions Announced No material sector transactions were announced during the period. The trailing record still carries 39 precedent transactions at a median of 8.8x EV/EBITDA, which remains the reference point buyers and sellers are working from. A quiet two-week period is information: buyer appetite, financing conditions and seller expectations all read through a period with no new deals. The precedent transactions alongside still frame what buyers have paid. 39 Recorded precedent transactions the reference set buyers and sellers price against 8.8x Precedent median EV/LTM EBITDA LTM at announcement, where disclosed

6. 06
   WHAT IT MEANS

   What the Period Changes for Owners, Acquirers and Advisors

   This slide translates the two-week period into observations for owners, acquirers and advisors.

   For owners and operators, revenue quality did the talking: a NOAA task order at Spire Global, Inc. (SPIR) and a productised intent offer at TechTarget, Inc. (TTGT) both rewarded contracted and owned-data revenue. For acquirers, the reference set is unchanged — the trailing 39 precedents at 8.8x EV/EBITDA remain the pricing anchor alongside NeuraCap's standing sector median of 5.5x on CY2027E EV/EBITDA. For advisors, the period's dominant theme was ownership: data sold under contract, first-party signal productised, and rights-linked feeds extended into new products. So what: owned data and contracted revenue carried the period, and that is the story to lead with across all three audiences.

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   WHAT IT MEANS What the Period Changes for Owners, Acquirers and Advisors The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-28 EV / EBITDA (CY2027E) median 5.5x 13 companies in the study 3 valuation tiers Standing thesis: Marketing and Data Services splits across adjacent models, agencies, marketplaces and data pipes FOR OWNERS & OPERATORS Revenue Quality Did the Talking The period rewarded contracted and owned-data revenue: a NOAA task order at Spire Global, Inc. (SPIR) and a productised intent offer at TechTarget, Inc. (TTGT). FOR ACQUIRERS The Reference Set Is Unchanged, so the Comparison Is a Public One With no new transactions in the window, the trailing 39 precedents at a median of 8.8x EV/EBITDA remain the pricing anchor. NeuraCap's standing sector median is 5.5x on CY2027E EV/EBITDA, with the Premium tier at 43.1x and the Discount tier at 3.8x. FOR ADVISORS Lead with Owned Data and Contracted Revenue The dominant theme was ownership: proprietary data sold under contract, first-party intent signal productised, and rights-linked feeds extended into new consumer products.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   This slide explains the sources and methodology behind the update and states the report's limits.

   Every figure in this update links back to the filing, release or price record it was taken from, and the publishers and filings drawn on for the period are listed on this page. Driver attributions use calibrated language and reflect NeuraCap's read of the recorded evidence, not asserted causation. So what: readers can trace every claim in this deck back to its source before acting on it.

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   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 14–28, 2026 · market data through 2026-09-28 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Marketing and Data Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. 4 names below the floor were excluded from movers and statistics for this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260929T081142Z_406_prod (market data as of 2026-09-28) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: businesswire.com · globenewswire.com · sec.gov

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