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Alan Breznick
Alan Breznick
3/27/2019 | 12:58:26 PM
Re: Steve Perlman & Rearden Steel to...Enghouse?
You are not alone there, Jeff. There was plenty of dandruff flying at the investor conference yesterday. I think Enghouse has some serious 'splaining to do.

 
Jeff Baumgartner
Jeff Baumgartner
3/27/2019 | 12:46:31 PM
Re: Steve Perlman & Rearden Steel to...Enghouse?
Thanks, Alan. Does seem that they love them some M&A... just noticing that they have a page on their website dedicated to acquisitions.  And for each division at the company, they like to highlight key acquisitions within those categories. But this deal for Espial is still a head-scratcher to me. JB 
Alan Breznick
Alan Breznick
3/27/2019 | 10:39:41 AM
Re: Steve Perlman & Rearden Steel to...Enghouse?
Well, as it turns out, the preso by Enghouse Chairman & CEO Stephen Sadler at the Scoriabank investment conference in Toronto yesterday was pretty much a bust. Although we are not allowed to report on what he actually said because the talk was off-the-record, suffice it to say that Sadler offered very little insight on why Enghouse bought Espial and what it plans to do with the company. He also didn't seem like he knew that much about Espial's core video business but perhaps he was just being cagey. For Enghouse, Espial appears to be just amother way for the company to reach more service providers, especially in North America. Bt we'll see how long Espial lasts in the Enghouse fold because Sadler clearly loves to wheel and deal, based on his comments yesterday about the company's general M&A strategy.     
Jeff Baumgartner
Jeff Baumgartner
3/26/2019 | 2:59:23 PM
Steve Perlman & Rearden Steel to...Enghouse?
Still nothing back from Enghouse on their strategic plans on this one. Seems to me they are buying into a business they don't know or at least haven't been laser-focused focused on from what I can glean...and I can imagine that Espial's cash coffers and no debt financial position had no small part in this deal happening.

I'm very interested to learn what the Enghouse CEO says at the investor's conference in Toronto today, but the entire sector Espial is in today is struggling. How does Enghouse expect to retain let alone grow this business?

 But it's weird to think that technologies that started with Steve Perlman and his once secretive startup known as Rearden Steel in 1999, later Moxi Digital and Digeo, acquired by Arris in 2009, then onto Espial, would end up with...Enghouse. JB


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