Author Topic: QIS.v - Quorum Information Technologies  (Read 33255 times)

Southpaw

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Re: QIS.v - Quorum Information Technologies
« Reply #70 on: December 04, 2018, 12:13:49 PM »
Noticed no one had posted in a while. Anyone still following? Quorum announced a transformative, accretive acquisition that doubled the size of the company. Also, Beacon Securities initiated sell side coverage last week with a $1.25 price target (3x 2020 revenue, still several multiple turns below comps).

From the press release for the Dealermine acquisition:

There are many strategic reasons for the transaction, including:
- Accelerating Quorum’s strategy to be a full-service provider to automotive dealerships by adding DealerMine’s complementary product set and BDC services.
- DealerMine is a fast growing business with a proven management team and a large number of very successful dealership customers.
- DealerMine’s Service CRM products and BDC services have a strong growth opportunity within the existing Quorum customer base.
- The Transaction significantly expands the new combined Company’s scale and footprint in the automotive dealership software space.
- Quorum expects some economies of scale in the areas of industry events/memberships, government financing/programs and OEM relationships/programs across the combined entity.
- Quorum expects the Software as a Service (“SaaS”) revenue, BDC revenue, EBITDA and cash flow from the Transaction to be immediately accretive.

Like with the Autovance acquisition, there should be some good cross-selling opportunities.

Full press release:

http://quorum.mwnewsroom.com/press-releases/quorum-announces-acquisition-of-dealermine-inc-tsx-venture-qis-gnw_2577167_001


KJP

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Re: QIS.v - Quorum Information Technologies
« Reply #71 on: January 04, 2019, 09:07:55 AM »
Another acquisition:  http://globenewswire.com/news-release/2019/01/02/1679859/0/en/Quorum-Announces-Acquisition-of-Oasis-Auto-Complete-Systems-Limited.html

Much smaller than DealerMine.  This one appears to be intended to open up the independent (as opposed to franchised) dealer market.


wisowis

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Re: QIS.v - Quorum Information Technologies
« Reply #72 on: September 07, 2019, 11:08:09 AM »
Figured I would bump this since they now have ~6 months of operations under their belt with their new acquisitions. SaaS revenue is up 98% yoy, but stock price is up 50%, so it is now sitting at 2.5x SaaS revenue (based on $22.3 million SaaS revenue run rate). They now have >1000 unique customers.

You can check out the highlights here: http://1ptzxx15cz712470mu46qduu-wpengine.netdna-ssl.com/wp-content/uploads/securepdfs/2019/08/Q2-2019-FACT-SHEET-FINAL-1.pdf