Mr. Donoghue is a co-founder and Managing Partner of the Discovery Group, established in 2002. Mr. Donoghue was previously the Head of the Private Capital division of Piper Jaffray & Co. He continues to serve on several Investment Committees of Piper Jaffray’s private institutional investment partnerships. Mr. Donoghue joined Piper Jaffray in 1997 to direct the Firm’s investment banking activities in Chicago. He subsequently became co-head of the global Middle Market Mergers & Acquisitions Group. Earlier in his career, Mr. Donoghue was Executive Vice President of Duff & Phelps, an investment management and research firm. His 25 years in corporate finance also includes investment banking with William Blair & Company and public accounting with Peat, Marwick, Mitchell & Co.

Mr. Donoghue has provided expert testimony before the U.S. Congress and the Securities and Exchange Commission. He served as a member of the Financial Accounting Standards Advisory Council. Mr. Donoghue graduated summa cum laude from Boston College and received a Master of Business Administration degree from the University of Chicago Graduate School of Business. He is a Certified Public Accountant and Chartered Financial Analyst. Mr. Donoghue serves as a Director on the Board of Tier Technologies, Inc. and is a member of the National Association of Corporate Directors.

Mr. Murphy is a co-founder and Managing Partner of the Discovery Group, established in 2002. Mr. Murphy was previously the Director of Public Equities in the Private Capital division of Piper Jaffray & Co. He continues to serve on several Investment Committees of Piper Jaffray’s private institutional investment partnerships. Mr. Murphy joined Piper Jaffray in 1997 as a senior member of the Firm’s global Middle Market Mergers & Acquisitions Group, leading numerous public and private company transactions. He was appointed to the Firm’s Valuation and Fairness Opinion Council. Mr. Murphy previously worked as a Vice President in investment banking with J.P. Morgan & Co. and as a Vice President in the Corporate Finance Group at Price Waterhouse LLP. Prior to investment banking, he worked for several years as a management consultant.

Mr. Murphy graduated with highest honors from the University of Illinois with a bachelor degree in engineering and received a Master of Business Administration degree from the University of Chicago Graduate School of Business. Mr. Murphy serves as a Director on the Board of Tier Technologies, Inc. and is a member of the National Association of Corporate Directors.

Mr. Witt is a Partner and the Portfolio Manager of Discovery Equity Partners, a proprietary investment fund managed by Discovery Group. Mr. Witt was previously a Principal in the Private Capital division of Piper Jaffray & Co. Prior to 2002, Mr. Witt was a Vice President in Piper Jaffray’s Middle Market Mergers & Acquisitions Group. Mr. Witt has extensive experience in developing comprehensive valuation analyses, understanding the strategic rationale and key value drivers for M&A transactions, and identifying and leading discussions with prospective acquirers. Prior to joining Piper Jaffray, Mr. Witt worked at Houlihan Lokey Howard & Zukin providing M&A advisory and valuation services to middle market public and private companies. He also worked for several years as a sell-side equity research associate at RBC Dain Rauscher providing investment recommendations on selected public companies in the food and agribusiness industries. In addition, Mr. Witt has experience as a strategy consultant with Booz Allen & Hamilton.

Mr. Witt graduated from the University of Wisconsin-Madison with a Bachelor of Arts degree in Economics with a Mathematical Emphasis and received a Master of Business Administration degree in Finance and Management Strategy from the Kellogg School of Management at Northwestern University.

Mr. Buckley is a Portfolio Manager of Discovery Equity Partners, a proprietary investment fund managed by Discovery Group. Prior to joining Discovery Group, Mr. Buckley was a Manager in the Corporate Development & Strategic Planning group of Advanced Medical Optics (NYSE: EYE), where he was focused on evaluating and executing acquisitions and strategic alliances, as well as providing strategic and financial analysis to the company’s senior executives. Mr. Buckley previously worked as an Associate at American Capital Strategies, a private equity firm focused on middle market companies, and as an Associate in Piper Jaffray Middle Market Mergers & Acquisitions Group providing M&A advisory services to companies in a broad range of industries.

Mr. Buckley graduated with high honors from the University of Illinois with a Bachelor of Science degree in Finance and received a Master of Business Administration degree in Finance, Management Strategy, and Management & Organizations from the Kellogg School of Management at Northwestern University. He is also a Certified Public Accountant.

Mr. Stitgen is a Portfolio Analyst for Discovery Equity Partners. Mr. Stitgen was previously an accountant with Thompson Investment Management where he was responsible for the daily operations for the Thompson Plumb Funds, including cash management, trading oversight, and performance reconciliation. Prior to working as an accountant, Mr. Stitgen was a trading intern for Thompson Investment Management.

Mr. Stitgen recently graduated from the University of Wisconsin-Madison with a Bachelor of Science degree in Finance, Investment, and Banking. His core coursework focused on financial statement analysis, business valuation, and securities analysis, as well as taking courses in a broad range of business disciplines such as marketing, organizational behavior, and economics. Mr. Stitgen was a Division 1 athlete on the Men’s Rowing team.

Mr. Schrage is a Portfolio Analyst for Discovery Equity Partners. Prior to joining Discovery, Mr. Schrage worked as a Finance Analyst intern in the operations department of Au Bon Pain Corporation, an international quick-service restaurant with approximately 200 locations. At Au Bon Pain, he created key company reports and analyzed performance metrics in order to pinpoint areas for improvement.

Mr. Schrage recently graduated magna cum laude from Brown University with a Bachelor of Arts degree in Economics. His core course of study focused on both economics and finance, including courses such as macroeconomics, econometrics, financial accounting, investments, corporate finance, financial institutions, and corporate governance. While at Brown University, Mr. Schrage also served as a teaching assistant for Principles of Economics, a core curriculum requirement for all Economics majors. He is a member of Omicron Delta Epsilon, the International Honor Society for Economics.

Ms. O’Callaghan is the Operations Associate for Discovery Group. Ms. O’Callaghan is responsible for all trading activity of the Discovery Group’s funds. In addition, she manages aspects of fund administration such as performance tracking and regulatory filings. Ms. O’Callaghan was previously Head Trader for SG Capital Management, a small capitalization equity focused hedge fund where she was responsible for all equity and option related trading strategies. Prior to joining SG Capital Management, Ms. O’Callaghan worked at Mesirow Financial in their Asset Management division where she was responsible for management and trading of short term fixed income portfolios as well as administration of institutional accounts.

Ms. O’Callaghan graduated from Columbia College with a Bachelor of Arts degree in Marketing Communications.

Ms. Brummer is an Analyst for Discovery Group. Before joining Discovery, Ms. Brummer worked as an intern at Merrill Lynch in the Global Wealth Management branch of the firm. The internship covered a variety of business disciplines, including strategic research, investment analysis, and marketing communications.

Ms. Brummer recently graduated with distinction from the University of Wisconsin-Madison, obtaining a Bachelor of Business Administration degree in Finance, Investment, and Banking. During her studies, she focused on mathematical and economic theory and its application in Finance. Her primary interest is investment valuation, and at UW-Madison, she took numerous courses in securities modeling and analysis.