NetScout Systems’ (NTCT) Q3 ’20 results comfortably exceeded expectations as a high seven-figure service provider opportunity slated to close in Q4 was secured earlier than anticipated. Importantly, the results also reflected renewed revenue growth driven by increased sales in both the enterprise and service provider verticals.
Read MoreM&A this week included a couple of AIOps deals at ServiceNow (NOW) and VMware (VMW). ServiceNow’s acquisition of Loom Systems adds log and metrics analysis to its IT Service Management (ITSM) and IT Operations Management (ITOM) solutions, thereby enabling customers to proactively identify IT incidents and automate remediation tasks.
Read MoreWithin our coverage universe this week, Assurance Global Services (AGS) sweetened its bid to acquire CTG (CTG), offering $7.00 per share in cash. The upsized offer represented a 33% premium to the prior day’s close and topped AGS’ initial $5.50-$6.00 proposal in May 2019.
Read MoreEarlier this morning, Assurance Global Services (AGS) filed a 13-D/A that included a letter to the Board of Directors in which AGS presented a revised non-binding proposal to acquire CTG, Inc. (CTG) for $7.00 per share in cash. The proposed acquisition price represents a 33% premium to the prior day’s close and values CTG at approximately 9.1x and 7.5x our FY ’19 and FY ’20 adjusted EBITDA estimates, respectively.
Read MoreHappy New Year! The new year also marks a new beginning at Talend (TLND) as the company appointed Christal Bemont as CEO, succeeding Mike Tuchen, who has held the reins for the past six years. Ms. Bemont joins Talend from SAP Concur where she served as Chief Revenue Officer.
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