Our week began with news of QAD’s (QADA) pending sale to private equity firm Thoma Bravo for $2 billion. Full details are in our report, “Thoma Bravo to Acquire QAD for $87.50 Per Share in Cash,” but the highlights include a purchase price representing a 20% premium to the last closing price of the Class A shares and a valuation of 5.9x revenue on a TTM basis.
Read MoreWe have included several news items from last week to this week’s recap as there were some notable developments during the shortened holiday week. The most pertinent to us was the publication of the United States Postal Services’ monthly trial balance data prior to Thanksgiving, which revealed a 39% Y/Y increase in PC Postage revenue in October.
Read MoreResults from the initial slate of off-calendar reporting companies were generally well received and largely reflected the varying degrees of resiliency and recovery highlighted by those following the traditional reporting cycle.
Read MoreEarnings season for those with an April quarter-end concluded this week, providing an added glimpse into how business has trended since the onset of the COVID-19 crisis. The latter half of March and April proved challenging for most organizations as customers focused on their own operations.
Read MoreCoronavirus was top of mind this week as fears of a pandemic reverberated across markets. Thus far, the software industry remains relatively unaffected from a business standpoint with the vast majority of reporting companies citing minimal end market exposure and no impact on sales cycles to date.
Read More