
The probably with buying small companies is that they are painful.
Tech bloat, redundant processes, personnel and infrastructure. Back office consolidation. All time consuming, low value activities, they require operational excellence to do efficiently and operational excellence isn't found here.
Rather than going for faddy bolt ons. this business needs to have a core product, that is differentiated and relevant for todays business.
They may build the worlds greatest gear stick, but if it's attached to the worlds shittest car, it won't do much for topline sales.
A 93.6% decline in less than 4.5 years, but the many who doesn't understand how this works for large enterprise businesses has give this new feature the seal of the of approval, bargain? Just because it's in the bargain bucket with a red label on it doesn't make it good value.
Aside from the fact, their products are outdated and the market moved on, what kind of enterprise procurement business would want to take the risk on them?
- management instability
- financials looking poor
- high chance of takeover (meaning more work and risk for them)
Businesses want technology partners you can trust. Even the the biggest advocates shareholders or LVT don't trust them anymore. Why is the CFO of a ASX or Fortune business going to trust them