NSW Goverment Sailpoint software licence, page-12

Siabot103 hours ago
If Vortiv's 2 main business lines resulted from acquisitions, what did the company do before those acquisitions? You mention they have organic growth targets, but how likely is it that they will continue to rely heavily on additional growth via acquisitions funded from new capital raises?


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Kenjoe Bu
44 minutes ago
Hi Siabot. They were essentially a "shell" company for TSI prior to the acquisitions. My view is that it's likely that acquisition related growth is going to be relied upon. Although it may not be a direct comparison, you only have to look at other IT service firms (e.g. TNT prior to acquisitions, DWS, RXP etc.) to see that organic growth for those types of companies is usually quite low. I think that growth is still in the double digits for them in the short term because they're growing from a lower base but chances are it's going to taper off without acquisitions (which is probably why management is seeking to expand it's offering via acquisitions).
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