Markets capitulated amidst ongoing coronavirus concerns this week, although we were actually encouraged by the willingness of several major sports organizations to suspend play in response to the growing public health crisis.
Read MoreWith the holiday season upon us and a new year fast approaching, we were hit by a blizzard of news this week. After formally announcing a review of strategic alternatives in mid-November and cancelling a financial analyst day previously scheduled for this past week, Instructure (INST) agreed to be taken private by Thoma Bravo for $47.60 per share in cash, representing a TTM EV/Sales multiple of 7.6x.
Read MoreDespite the short week post-Labor Day, there was much to absorb with a slew of companies reporting results, a number of notable acquisitions, and a couple of secondary offerings in the mix.
Read MoreIn a quiet week on the earnings front, several strategic M&A transactions dominated the headlines. Following Google’s $2.6 billion of business intelligence provider Looker last week, Salesforce (CRM) entered into an agreement to acquire self-service analytics provider Tableau Software (DATA) in an all-stock deal valuing Tableau at an enterprise value of $15.7 billion, representing a TTM EV/Sales multiple of 13.2x and a FY ’20 EV/Sales multiple of 9.6x based on consensus forecasts at the time of the announcement.
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