Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

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Also new this week, GovDelivery added Russian and Japanese language support to text messaging options. This brings our total count of supported languages to six, helping agencies continue to reach the widest possible audience. Russian and Japanese language support will be available for all admins of Interactive Text Messaging starting this week!

https://www.govdelivery.com/blog/...eractive-text-messaging-features/
 

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Und zwar 2016

Wieso nicht zum 5 fachen?

Actua Announces Agreement to Sell GovDelivery to an Investor Group Led by Vista Equity Partners for $153 Million in Cash

GlobeNewswire•September 26, 2016
Comment
RADNOR, Pa., Sept. 26, 2016 (GLOBE NEWSWIRE) -- Actua Corporation (ACTA) today announced that it has entered into a definitive agreement with an investor group led by Vista Equity Partners under which it will sell GovDelivery, the leading provider of cloud-based government communications software solutions, for $153 million in cash, subject to certain adjustments, including working capital, cash, debt and other items. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2016.  

Weiterlesen.

Ich hätte mir da einen etwas höheren Preis vorstellen könnten, aber der Kurs wird vermutlich trotzdem steigen, weil Govdelivery m.E. mit einem niedrigeren Betrag in die bisherige Marktkapitalisierung eingepreist war.  

von Govdleivery auf 218 Millionen und den Umsatz auf 43,5 Millionen geschätzt. Sovile daneben lag ich also nicht.

Eine Zusammenfassung meiner obigen Analysen

21.09.16 18:03

#7984

zu den drei von vier Core-Companies VelocityEHS, Govdelivery und Foliodynamix ergibt folgenden Zwischenstand: 714 Millionen

Govdelivery
43,5 Millionen geschätzter Umsatz in 2016, als von mir als angemessen angesehendes Multiple vom 5 = von mir geschätztzer Wert von 218 Millionen

 

großer Unterschied

Wenn man das gleiche Umsatzverhältnis von 3,5 mal auf die übrigen Beteiligungen hochrechnen würde, ergäbe sich nur noch ein fairer Börsenwert von 445 Mio € auf Basis der Umsatzschätzungen für 2017.
Allerdings kommen jetzt noch fast 200 Mio Cash hinzu. Mal sehen was Actua damit anfangen wird.

von mir geschätzten Umsatz für 2016 von 43,5 Millionen, ergibt sich ein Umsatzmultiple von 3,5.

Würde man das auf den gesamten Umsatz-Guidance von 156 - 160 Millionen anwendenm ergäbe sich bei Mittelwert von 158 ein Wert der vier Kernbeteiligungen von 553 Millionen.  

Meinung von einem anderen Board.  Ich sehen den momentan fairen Wert etwas niedriger bei knapp 600 Millionen (aber nur wegen des für mich ein klein wenig enttäuschendes Erlöses für Govdelivery)


Katjuscha: bei ähnlicher Umsatzmultiple
  16:03
#249  
für die anderen Beteiligungen ergäbe sich etwa ein Wert von 455 Mio $ für Actua, der nur noch 5-10% über dem aktuellen Börsenwert liegt.
Holdingkosten abrechnen, Cash zurechnen. Sagen wir mal etwa 650 Mio fairer Unternehmenswert auf Basis der 2017er geschätzten Umsätze.

Gegenmeinungen?  

GovDelivery Acquired by Investor Group Led by Vista Equity Partners for Next Phase of Growth
Record Investment Validates GovDelivery’s Leadership in Public Sector Transformation
September 26, 2016 08:45 AM Eastern Daylight Time
ST PAUL, Minn. & WASHINGTON--(BUSINESS WIRE)--GovDelivery, the leading cloud-based digital communication platform for government, today announced that it has signed a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading private equity firm focused on software, data, and technology-enabled businesses. The investment in GovDelivery continues Vista’s focus on acquiring best-in-class vertical software providers, offering mission-critical software to customers.
“Vista is a world class partner for our next phase of growth,” said Scott Burns, GovDelivery’s Chief Executive Officer. “This $153 million investment validates our strategy and is the largest single investment in a cloud-based government technology company to date.”
“What sets GovDelivery apart is its success helping governments reach more people through its platform,” said Patrick Severson, board member and Principal at Vista Equity Partners. “We see effective communications as an increasingly strategic function and were impressed by the extraordinary value and unrivaled security that GovDelivery brings to its clients in this fast growing area.”

http://www.businesswire.com/news/home/...estor-Group-Led-Vista-Equity
 

“This transaction demonstrates the significant value Actua delivers in growing SaaS businesses,”

said Walter Buckley, Actua’s Chief Executive Officer. “Under the strong leadership of CEO Scott Burns, we have transformed GovDelivery into a valuable, high growth company, and are confident that the company will continue its impressive growth trajectory.  Since our acquisition of the business in 2009 for $20 million, GovDelivery has assembled a first-class management team and built out an industry-leading platform for digital government communications with a strong competitive moat. Through the execution of a highly effective growth strategy, GovDelivery has increased revenues by nearly 600 percent.”

http://finance.yahoo.com/news/...ment-sell-govdelivery-123000152.html
 

ob nackt oder mit Deckung operierend.  

-nicht Kuberty Nutual Insurance, sondern Liberty Mutual bei der zweiten angeführten Versicherung


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ist hypo da klar im Vorteil :)  

seit etwas mehr als einem halben Jahr an - und die Diskussion geht daher nur darum, was in dieser Zeit passiert ist.

Was soll also Deine Alte-Kamellen-DiskussioNß  

My estimate for the revenues of Govdelvery = 43.5 million. That are 3.5-times-revenues by a sale-price of 153 million.
Guidance of Acuta for 2016 was revenues of 156 – 160 million – that are about a equal valuation = 555 million.  

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"The latest deal will drive further growth for GovDelivery and give the company resources to make more acquisitions, said CEO Scott Burns, who will stay on as top executive."

http://www.bizjournals.com/twincities/news/2016/...o-be-sold-for.html

Um weiter seine Spitzenstellung zu halten, hätte Govdelivery weiter massiv investieren müssen. Nach den 200 Millionen, die man in Foliofynamix gesteckt hatte, wäre die für Actua ohne die Aufnahme von Fremdkapital schwierig geworden - und dieses Risiko wollte man woh m.E. zu recht nicht eingehen.
 

mit seiner Umsatzzahl von 50 Millionen, denn nach dem, was dazu bisher veröffentlicht wurde und von mir auch in früheren Postings aufgegriffen wurde, dürfte man eher bei ca. 44 Millionen Umsatz in 2016 liegen.  

Libuda: Govdelivery with $35 million in revenue in 2015
 
17.09.16 16:08
#7956  
up about 25 percent over 2014

www.startribune.com/...overnment-clients-save-money/361642901/

Libuda: Und 42 Millionen in 2016, wenn man
 
17.09.16 23:29
#7957  
Waxchstum in Q1 und Q2/16 als Maßstab nimmt.

•    Revenue Growth: 20% in Q2 2016 compared to Q2 2015
www.actua.com/wp-content/uploads/2016/08/Q2-slides-Final.pdf

•    Revenue Growth: 20% in Q1 2016 compared to Q1 2015
www.actua.com/wp-content/uploads/2016/05/...des-FINALFINAL.pdf

Libuda: Und man könnte sogar in die Nähe von 45 Millionen
 
18.09.16 11:38
#7958  
kommen:

Jeff Houston, Northland Securities - Analyst [11]
--------------------------------------------------
Hey guys, thanks for taking my questions. So looking at the growth for the rest of the year, I imagine Velocity and GovDelivery should maintain their roughly 20% organic growth. But [folks dig a bit] deeper into BOLT and Folio, they both had zero growth this quarter, but both had good bookings. Should we look at their growth being in the 10 to 15% range for the next two quarters? Or is that aggressive? I'm just trying to get a sense of how those two [core] for those businesses should scale for the rest of this year, and then into next year?
--------------------------------------------------
Kirk Morgan, Actua - CFO [12]
--------------------------------------------------
Yes, we would really all four of the businesses revenue in the second half of the year to be growth percentages that are higher than what we've experienced in the first half, Jeff. I think it will be more dramatic relative to BOLT and Folio in terms of their revenue growth that we expect in the - where they've been flat essentially. We expect that obviously to accelerate in the second half, reflect in the bookings that we've been seeing. But GovDelivery and Velocity should see some uptick as well. So it's really across the board.
--------------------------------------------------
Walter Buckley, Actua - Chairman, CEO [13]
--------------------------------------------------
Yes, and just to add something. We've been tracking and we've been recording our bookings for the last two quarters, but really to the last three quarters. Bookings have been ahead of revenue really at all four businesses. And it takes anywhere from six to 12 months to implement it. So that's why I think you're going to see growth [occur it] across all four businesses starting Q3.

finance.yahoo.com/news/...a-earnings-conference-154356723.html  

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