Happy Thanksgiving! At K. Liu & Co., we are particularly thankful for all of the support we have received in our first year of existence. Despite the short holiday week, there was still a fair bit of news to digest with the off-calendar reporting season now underway.
Read MoreEarlier this week, members of the Universal Postal Union (UPU) approved a proposal, known as “Option V,” enabling certain member countries to self-declare rates for the delivery of inbound international bulky letters and packets beginning July 1, 2020. The decision was significant as the U.S. will now remain a member of the UPU after threatening to pull out a year ago.
Read MoreWe hope those perusing this week’s review are doing so from the beach or simply taking some time to decompress during the Labor Day weekend. Heading into the unofficial end to summer, Pitney Bowes (PBI) sold its Software Solutions business to privately-held data management solutions provider Syncsort for $700 million in cash, representing a TTM EV/Sales multiple of 2.2x and an EV/EBITDA multiple north of 17x.
Read MoreJust when we thought the summer doldrums were upon us, VMware (VMW) made waves with the announcement of two public company take-outs. The first, an acquisition of long-time partner and fellow Dell Technologies (DELL) controlled company Pivotal Software (PVTL), came as no surprise given last week’s 13D/A by Dell Technologies disclosing merger discussions.
Read MoreConsolidation continued in the cybersecurity space this week with FireEye (FEYE), Palo Alto Networks (PANW), and Zscaler (ZS) all announcing acquisitions to expand the breadth of their respective offerings.
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