Reaction - Part 2The acquisition of Quidmarket (owned by Stagemount) looks fine. It expands PRL's global base, management stays on, and is immediately accretive even before synergies (amount not specified, however). The UK market has potential and is underserved in the sector (PRL's statement). It adds $27.7M (US) in revenue and the company is nicely profitable. At 7.4X earnings, the deal is valued at below PRL's market value currently, which is good. The $100M financing insures the balance sheet stays strong, and the company's new market cap will now be firmly above $1B, which can be a level that attracts more investor interest. The stock could still sell off somewhat into the deal, considering the discounted price, but overall the acquisition/financing look fine to us. We would be comfortable buying the deal or in the market. The company has done acquisitions in the past and should be able to integrate this one well (5iResearch)