Among several M&A transactions this week, Asure Software’s (ASUR) divestiture of its Workspace Management business to FM:Systems for $120 million in cash, representing a TTM EV/Sales multiple of 4.3x was most notable given the market’s positive reaction. The sale frees the company to focus on its Human Capital Management (HCM) solutions, which span payroll, time and attendance, and consulting services and generated revenues of $71.6 million over the past 12 months.
Read MoreWe attended BoxWorks 2019, Box’s (BOX) annual customer conference, and an investor breakout session held in conjunction with the event on Thursday, October 3. Both the conference and the investor session were well attended, which was not especially surprising given that Box boasts over 95,000 customers, including 69% of the Fortune 500, and hosted the event in San Francisco.
Read MoreWe attended Box’s (BOX) annual user conference, BoxWorks 2019, as well as the Investor Breakout session held in conjunction with the event. A detailed recap is forthcoming, but suffice to say, we were impressed with the company’s platform and opportunity in the cloud content management space.
Read MoreEarlier this week, members of the Universal Postal Union (UPU) approved a proposal, known as “Option V,” enabling certain member countries to self-declare rates for the delivery of inbound international bulky letters and packets beginning July 1, 2020. The decision was significant as the U.S. will now remain a member of the UPU after threatening to pull out a year ago.
Read MoreOn the deal front this week, Akamai Technologies (AKAM) acquired KryptCo’s multifactor authentication technology for an undisclosed price. Targeted at enterprises, the technology is resistant to phishing and offers a simplified user experience that does not require the entering of pin codes.
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