RE:Quartherhill Quarterhill is a people-intensive business. As such I think it could only go in a friendly deal. You don't want to buy it and then have all the key people leave. To get a price that shareholders would be okay with (this one, at least) you'd need to get to the much higher stock price that steady sales and profit growth would inspire. Cabbie seems to hang on to the idea of something like a merger of equals, hence the mention of Iteris. But if, down the road, you want to get the best price (and a big premium) then you'd want to see Quarterhill eventually (and it could be years) bought by a big company that sees Quarterhill as a good way to get an immediate significance presence in ITS. Looking at it that way I'd say the model you want to look to is ST Engineering's 2021 US$2.6 billion purchase of TransCore. Or Roper Technology's 2004 (I think) US$600 million purchase of one and the same, TransCore. We certainly have two people on the board who will know that playbook really well. Rusty Lewis and Chuck Myers were cofounders of TransCore. Can Quarterhill keep up (or even outright win) technologically? The competition is pretty tough. I'm sure TransCore / ST Engineering want to stay at the top. And there's emovis, Kapsch and others. But, interesting that Mr. Lewis was able convince Mr. Myers to sign on. I don't think either of them would have joined if they didn't see something interesting.