We upgrade FY22 EPS by 18% today on completion of the Electra acquisition. This is a strategic acquisition that marks a decisive step on the path to creating a global fintech champion of substantial scale, and yet we see no strategic premium in the price paid (11x EV/EBITDA). It more than triples Clareti’s North America ARR to some £12m, significantly enhancing its presence in the largest market for its products and accelerates FCF b/e. Stripping out legacy businesses and cash and valuing Claret ....
22 Jun 2021
Upgrades on Transformational Acquisition
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Upgrades on Transformational Acquisition
Gresham Technologies plc (GHT:LON) | 163 0 0.0% | Mkt Cap: 136.7m
- Published:
22 Jun 2021 -
Author:
Caspar Erskine | Harold Evans | Kevin Ashton -
Pages:
3
We upgrade FY22 EPS by 18% today on completion of the Electra acquisition. This is a strategic acquisition that marks a decisive step on the path to creating a global fintech champion of substantial scale, and yet we see no strategic premium in the price paid (11x EV/EBITDA). It more than triples Clareti’s North America ARR to some £12m, significantly enhancing its presence in the largest market for its products and accelerates FCF b/e. Stripping out legacy businesses and cash and valuing Claret ....