We get calls from a lot of PE firms but I dont entertain them. (a) it would rob investors of the potential long-term upside (b) after a lot of thrashing around its unlikely to produce an up-front offer that is close to fair value. Most PE firms are chasing predictable recurring revenue at a discount to NPV/low IRR. For legacy software thats an ok deal but for a emerging enterprise software player like ATV its not. The offer would have to by $150M to consider it.
ATV peers on the ASX are WTC, TNE, OCL, GTK, HSN, DSE. As a ratio to revenue they trade at approx 35x, 12x, 10x, 5X, 3X, 5X repsectively which is a median of 8X so not far from the US 10.4X you mention.
Give me 8X on market any day.
We get calls from a lot of PE firms but I dont entertain them....
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| No. | Vol. | Price($) |
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