We are initiating coverage of QAD (QADA) with a $51.00 price target, representing a FY ’21 EV/Sales multiple of 2.5x. QAD is a vertically-focused application software provider in the midst of a transition to the cloud.
Read MoreWe hope those perusing this week’s review are doing so from the beach or simply taking some time to decompress during the Labor Day weekend. Heading into the unofficial end to summer, Pitney Bowes (PBI) sold its Software Solutions business to privately-held data management solutions provider Syncsort for $700 million in cash, representing a TTM EV/Sales multiple of 2.2x and an EV/EBITDA multiple north of 17x.
Read MoreJust when we thought the summer doldrums were upon us, VMware (VMW) made waves with the announcement of two public company take-outs. The first, an acquisition of long-time partner and fellow Dell Technologies (DELL) controlled company Pivotal Software (PVTL), came as no surprise given last week’s 13D/A by Dell Technologies disclosing merger discussions.
Read MoreFollowing a 13D/A filing by controlling shareholder Dell Technologies (DELL) disclosing merger discussions, Pivotal Software (PVTL) confirmed that the company is negotiating an agreement to be acquired by VMware (VMW) for $15.00 per share in cash, representing a premium of nearly 81% to the close price prior to the disclosure.
Read MoreAfter an on-again, off-again courtship, Broadcom (AVGO) and Symantec (SYMC) finally sealed the deal, albeit on a more limited basis than first rumored. Rather than acquiring the company outright, Broadcom will acquire Symantec’s Enterprise Security assets, including the Symantec brand, for $10.7 billion in cash.
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