Liberty Posted April 7, 2021 Author Share Posted April 7, 2021 Volaris bidding on a company in South Africa: https://www.moneyweb.co.za/mny_sens/adapt-it-holdings-limited-joint-announcement-of-the-firm-intention-of-volaris-to-make-an-offer-to-acquire-control-of-adapt-it/ Quote Volaris Group makes all-cash offer for Adapt IT Share code: ADI ISIN: ZAE000113163 "It said the cash consideration is a 56.9% premium to the 30-day average share price for Adapt IT. It is also a premium to the R5.52/share all-share offer from Huge Group" h/t @Pearnick Link to comment Share on other sites More sharing options...
wabuffo Posted April 7, 2021 Share Posted April 7, 2021 (edited) Volaris bidding on a company in South Africa: AdaptIT Holdings was recently written up on ValueInvestorsclub.com as a long. I believe the write-up will become visible on 45-day guest access in a couple of days. I think it is the same company. wabuffo Edited April 7, 2021 by wabuffo Link to comment Share on other sites More sharing options...
s8019 Posted April 7, 2021 Share Posted April 7, 2021 It looks as a steal. I hoped that AdaptIt will become a multibagger in the next few years. But now I will have another reinvestment problem on my hands and small one-time gain Link to comment Share on other sites More sharing options...
Liberty Posted April 7, 2021 Author Share Posted April 7, 2021 Quote Jonas acquired Omniterm Data Technology Ltd (Canada) "theatre management solution that includes ticket sales, reserved seating, concessions, promotion, loyalty programs, restaurant sales and business reporting." Founded in 1978 (!) 20 employees (Zoominfo) h/t @pearnick Link to comment Share on other sites More sharing options...
wabuffo Posted April 8, 2021 Share Posted April 8, 2021 The VIC write-up on AdaptIT Holdings is now available with 45-day guest access: https://valueinvestorsclub.com/idea/AdaptIT_Holdings/6787379885#description For those who want to get a bit more background on this potential acquisition. wabuffo Link to comment Share on other sites More sharing options...
s8019 Posted April 8, 2021 Share Posted April 8, 2021 AdaptIt story may be not yet over The deal is still subject to shareholder approval. Shareholders are entitled to elect to retain all or part of their Adapt IT shares. Some have already voiced their discontent with the deal. Kerem Aksoy of Glacier Pass Management, a New York-based investment firm that owns 1.5% of Adapt IT, told Business Day on Wednesday that the company could be worth more on a price-to-earnings basis. The price-to-earnings ratio is a measure of a company's share price to its earnings per share. It is used to value companies and gauge whether they are overvalued or undervalued. “I understand that Adapt IT felt trapped by Huge's offer but that does not justify selling for cash at the bottom of the cycle. Adapt IT trades at five times earnings. Constellation trades at thirty times. They are in the same business and almost 30% of Adapt IT's earnings are abroad. R6.5 is not the right price,” he said. Link to comment Share on other sites More sharing options...
Liberty Posted April 8, 2021 Author Share Posted April 8, 2021 (edited) Quote Jonas acquired Invotech Ltd (Ireland) "suitable for small gyms and personal training studios right up to large multi-site facilities with both pay-as-you-go and membership options." Founded in 1999 7 employees (Zoominfo) Quote MediSolution (Harris) acquired Intégration Santé (Canada) "healthcare software products and services to the public and private sectors." "serving more than 50 organizations, developing and supporting over 1000 platform interfaces." Founded in 2009 30 employees (website) Quote Harris acquired Medi-Serv, Inc. (U.S.) "a leader in providing medical billing, management and consulting services to medical professionals across the United States." Founded in 1989 6 employees (Zoominfo) h/t @Pearnick Edited April 12, 2021 by Liberty Link to comment Share on other sites More sharing options...
Liberty Posted April 10, 2021 Author Share Posted April 10, 2021 https://mybroadband.co.za/news/business/392877-adaptit-ceo-sbu-shabalala-opens-up-about-new-offer-to-buy-the-company.html Quote AdaptIT CEO Sbu Shabalala is positive about the cash offer from Canadian software group Volaris to acquire the company. [...] Adapt IT, which is listed on the JSE, recently said it has received a “firm intention” from Volaris to buy over 50% of the shares of Adapt IT for a cash consideration of R6.50 per share. This cash offer represents a premium of 56.9% to the 30-day volume weighted average traded price of Adapt IT shares of R4.14 per share as at 26 January 2021. [...] “The challenge for management was always the capitalisation of the business to have enough money for our future strategy. This transaction promises to do that,” he said. Shabalala added that Volaris’ approach regarding the potential transaction has always been friendly. Link to comment Share on other sites More sharing options...
wabuffo Posted April 26, 2021 Share Posted April 26, 2021 (edited) Long article on CSU in the Globe and Mail today (unfortunately it's behind a paywall). Covers the aftermath for CSU after Mark Leonard's February letter to shareholders indicating a change in capital allocation strategy. https://www.theglobeandmail.com/business/article-constellation-softwares-roll-up-wizard-ups-his-game-in-major/ Quote ...Mr. Leonard announced Constellation would drop its hurdle rate, accepting a lower return on its capital to find opportunities to invest the $989-million of excess cash... "If we drop our hurdle rates for these acquisitions, I believe that competent and diligent merger and acquisition brokers will include us in more auctions." ... Mr. Baksh, Constellation's CFO, said a number of investment bankers called the company the day Mr. Leonard's letter went out, to say they got the message. ... As investment bankers start calling more frequently, FOMO is no more. Mr Leonard and his successors can build on a tested game plan, paying for acquisitions with cash from existing software businesses. wabuffo Edited April 26, 2021 by wabuffo Link to comment Share on other sites More sharing options...
louisdog Posted April 26, 2021 Share Posted April 26, 2021 34 minutes ago, wabuffo said: Long article on CSU in the Globe and Mail today (unfortunately it's behind a paywall). Covers the aftermath for CSU after Mark Leonard's February letter to shareholders indicating a change in capital allocation strategy. https://www.theglobeandmail.com/business/article-constellation-softwares-roll-up-wizard-ups-his-game-in-major/ wabuffo Here it is not behind a paywall: https://archive.is/1JIHI Link to comment Share on other sites More sharing options...
villainx Posted April 26, 2021 Share Posted April 26, 2021 thanks Link to comment Share on other sites More sharing options...
TorontoRaptorsFan Posted April 26, 2021 Share Posted April 26, 2021 You can find the article from the Globe and Mail via Apple News app. Link to comment Share on other sites More sharing options...
Monsieur_dee Posted April 26, 2021 Share Posted April 26, 2021 He ain't slowing down at all Link to comment Share on other sites More sharing options...
Spekulatius Posted May 2, 2021 Share Posted May 2, 2021 (edited) I wonder who is right - the Leonard of 2015 or the Leonard of 2021: https://www.csisoftware.com/docs/default-source/investor-relations/presidents-letter/pl_2015.pdf Constellation now trades at 6.5x revenues. The hurdle rate problem is not unique to CSU either. Edited May 2, 2021 by Spekulatius Link to comment Share on other sites More sharing options...
John Hjorth Posted May 2, 2021 Share Posted May 2, 2021 (edited) Great post, Spekulatius!, -The swing door of success may hit you in the back, if you've been talking to shareholders about market prices of other companies [Mr. Leonard is certainly not the only one!]. Edited May 2, 2021 by John Hjorth Link to comment Share on other sites More sharing options...
Liberty Posted May 5, 2021 Author Share Posted May 5, 2021 https://www.prnewswire.com/news-releases/constellation-software-reaches-agreement-with-fair-isaac-corporation-to-purchase-its-collection-and-recovery-business-301284087.html 'Constellation Software Reaches Agreement with Fair Isaac Corporation to Purchase Its Collection and Recovery Business' Link to comment Share on other sites More sharing options...
Liberty Posted May 5, 2021 Author Share Posted May 5, 2021 Q1 is out: https://www.csisoftware.com/docs/default-source/investor-relations/statutory-filings/csi---press-release-q1-2021---final.pdf Link to comment Share on other sites More sharing options...
Liberty Posted May 6, 2021 Author Share Posted May 6, 2021 I posted some of my notes from the AGM here, if anyone's interested (there's a second one in the same thread): https://twitter.com/LibertyRPF/status/1390288551946952708?s=20 Link to comment Share on other sites More sharing options...
KCLarkin Posted May 6, 2021 Share Posted May 6, 2021 Great notes. Thanks Liberty. Link to comment Share on other sites More sharing options...
Liberty Posted May 7, 2021 Author Share Posted May 7, 2021 If anyone wants a full transcript of the AGM, Koyfin has it here: https://app.koyfin.com/news/ts/eq-hc42hq I've also shared a bit more of my thoughts on the AGM in this: https://www.libertyrpf.com/p/126-constellation-software-annual Link to comment Share on other sites More sharing options...
Monsieur_dee Posted May 7, 2021 Share Posted May 7, 2021 Thank you Link to comment Share on other sites More sharing options...
sane Posted May 8, 2021 Share Posted May 8, 2021 16 hours ago, Liberty said: If anyone wants a full transcript of the AGM, Koyfin has it here: https://app.koyfin.com/news/ts/eq-hc42hq Am I looking in the wrong place, or is 2021's AGM not there yet? Link to comment Share on other sites More sharing options...
Liberty Posted May 10, 2021 Author Share Posted May 10, 2021 On 5/8/2021 at 9:13 AM, sane said: Am I looking in the wrong place, or is 2021's AGM not there yet? My bad, I mistook last year's transcript for this year. Didn't re-read it after having just listened, and the similar date fooled my brain. Link to comment Share on other sites More sharing options...
Liberty Posted May 10, 2021 Author Share Posted May 10, 2021 Couple new acquisitions: Quote Harris acquired eScholar LLC (U.S.) "a US-based data analytics software provider." "Relied on by 13 state education agencies and over 4,800 districts across the country, eScholar solutions transform the way educators use data." Founded in 1997 49 employees Quote Jonas acquired Dynamiq Pty Ltd (Australia) "Crisis and Emergency Management, Business Continuity Planning, Strategic Security and Emergency Response Planning" Founded in 2005 65 employees via @pearnick Link to comment Share on other sites More sharing options...
sane Posted May 13, 2021 Share Posted May 13, 2021 On 5/7/2021 at 9:18 PM, Liberty said: If anyone wants a full transcript of the AGM, Koyfin has it here: https://app.koyfin.com/news/ts/eq-hc42hq AGM transcripts now available at this link for 2021 as well as 2020, 2019 and 2015. Thanks Liberty. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now