Seems to have lost support once the Qantm IP IPO opened.
Qantm has been priced a 16.5x FY17 while XIP is now back at 18x FY17 consensus. Once Qantm starts trading I suspect the PE discount will vanish.
XIP will most likely be in a net cash position when they report, while Qantm is coming to market with debt/equity around 27%.
Qantm will be competing with IPH for acquisitions if it wants to move the dial in a meaningful way, while XIP is much smaller and shouldn't have to compete with the bigger guys for accretive targets
Seems to have lost support once the Qantm IP IPO opened. Qantm...
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