Depending on news flow next week, this may well be our last weekly recap for 2019, so we wish you all a safe and happy holiday season! Last week, media reports indicated that LogMeIn (LOGM) was set to be acquired by affiliates of private equity firm Francisco Partners and Elliott Management in a deal valued at over $4.0 billion.
Read MoreWe are initiating coverage of CTG, Inc. (CTG) with a price target of $8.00, representing a FY ’20 EV/EBITDA multiple of 8x. We believe the long-established provider of IT staffing and solutions services is effecting a strategic transition in its business by de-emphasizing lower margin staffing opportunities and focusing instead on higher margin, higher recurring revenue engagements part and parcel to its solutions business.
Read MoreInstructure’s (INST) plan to be taken private by Thoma Bravo for $47.60 per share in cash faced further resistance this week as 7.5% shareholder Praesidium Investment Management issued an open letter to the Board of Directors expressing its view that the purchase price undervalues the company.
Read MoreWith 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.
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