RE:RE:RE:v-g wrong again as usual--- FABRICATOR Nice to see you agree.
You agree big road ITs business at scale is 10-12X EBITDA.
Based on the weak ITS finish in Q4, it appears Quarterhill paid 20+X 2021 EBITDA for ETC. And they will be lucky if it is 16-18X 2022 EBITDA.
The transition to ITS will be very expensive and time consuming. They also clearly don't have the skills to compete against players like Conduent, Transcore, etc.
ETC created a cool app, but these companies are 10X their size and they will just copy the app and retain the relationships. Only need 12 months to build the app.
The stock is very richly valued here and assumes WiLan is sold for a great price and that ETC will grow earnings 75% this year when Conduent provided a 3-5% forecast.