With the holiday season upon us and a new year fast approaching, we were hit by a blizzard of news this week. After formally announcing a review of strategic alternatives in mid-November and cancelling a financial analyst day previously scheduled for this past week, Instructure (INST) agreed to be taken private by Thoma Bravo for $47.60 per share in cash, representing a TTM EV/Sales multiple of 7.6x.
Read MoreHappy Thanksgiving! At K. Liu & Co., we are particularly thankful for all of the support we have received in our first year of existence. Despite the short holiday week, there was still a fair bit of news to digest with the off-calendar reporting season now underway.
Read MoreQAD’s (QADA) fiscal Q3 ’20 results were mixed relative to expectations, but we believe the company remains poised to reaccelerate subscription fee growth and return to margin expansion in the coming year.
Read MoreSharpSpring (SHSP) acquired Marin Software’s (MRIN) Perfect Audience business for $4.6 million in cash. For Marin, the sale enables the company to focus on its enterprise brands across search, social and e-commerce advertising, and reduces Q4 revenue and non-GAAP operating income by $0.5 million and $0.2 million, respectively.
Read MoreQAD (QADA) reports fiscal Q3 ’20 results on Tuesday, November 26. With the Institute for Supply Management’s Purchasing Managers Index (PMI) contracting in each month of QAD’s fiscal quarter and commentary from other reporting companies this past earnings season pointing to a soft spending environment in the automotive and manufacturing sectors, our expectations for any significant upside are tempered to say the least.
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