Has anyone taken a look at the Philter Birchal deal? They are...

Has anyone taken a look at the Philter Birchal deal? They are valuing at $60m on 8.5m revenue. Apparently using a revenue 6x multiple to get the share price.
I'm seeing $1.5m has been invested at this price, is this dumb money or could we expect a valuation uplift off this if people start looking at us?

GDA was mentioned in the comments of the deal by one investor:
"Agree with the above, that's almost the same cap as GDA (own Gage Roads, Atomic and others) but they make $100m revenue, not $7m."