I would definitely take the offer. This values ReadyTech in the $500m range and with total revenue of $78m and EBITDA of $27m I think this is a good price to get, especially as net profit is less than $9m and with net assets less than $100m.
I understand their student management and workforce solutions are doing well, but their government and justice solutions are not doing well in market. They are not winning new sites and are losing a number of organisations from their subscription base.
Not sure where this sits right now, but understand they are doing a lot of due diligence. At $4.50 I think shareholders will be fairly compensated should this go ahead.
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