@lost I had a quick look at Knosys. In the same area (human capital) than Paygroup and Elmo, which have just received significant offers. Agree with you. It looks interesting with an EV/ARR of only 1.3 x, while their EBITDA and cash flow are close to BE.
Only negative I could find so far was a low retention rate : estimated at 85 % by Andy Crebar in his study on Paygroup.
Need to do more work on it.
It is the one where Richard White (founder of Wisetch) invested at some stage in the past ?
