Some of you may have heard that topicus made a bid for this ‘management software’ australian small cap.
They offered 1.75 for 51% or 2 for 100%. The board rejected it for now.
That’s the thesis basically. If you have access to buy it, which most people won’t.
The p/s is 1.6, certainly cheap, the profitability currently not that hot, growth stalled but not declining.
We see a lot of public buys from csu and family, famous for buying the cheapest of the cheap private companies. So now the public prices are likely even better than those juicy deals everyone assumed happened privately.