Daily Brief TMT/Internet: Altium Ltd, Freee KK, Daktronics Inc, Bharti Hexacom and more

• Renesas Electronics (6723 JP) has entered a Scheme Implementation Agreement to acquire Altium Ltd (ALU AU) at A$68.5/share implying an equity value of A$9.1bn and an Enterprise Value of A$8.8bn.
• The offer price is a 33.6% premium to the last close and a larger premium to VWAPs ranging from 30 days to 180 days.
• There will be ad hoc inclusions to the S&P/ASX 100 Index and the S&P/ASX 200 (AS51 INDEX) on Altium Ltd (ALU AU)‘s last trading day (expected second half of 2024).

• Freee KK (4478 JP) reported 2QFY06/2024 results today. 2Q revenue increased 35.1% YoY, however, both revenue and operating losses fell below consensus estimates.
• As expected, upfront investment in selling and marketing and personnel expenses prior to the new invoicing system led to an increase in operating losses.
• However, these investments have helped the company acquire a large no. of corporate paying users and we expect losses to decline going forward.

Key points (machine generated)

• Daktronics Inc has improved its financial profile through operational upgrades and a recapitalization.
• As the industry standard in large screens and a market leader in scoreboards and programmable display solutions, Daktronics is in a strong position to benefit from increased adoption and upgrade cycles.
• Despite a recent stock price increase, investing in Daktronics is currently seen as very attractive, with potential for over 100% upside in the next few quarters.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Bharti Hexacom is looking to raise up to US$1bn in its upcoming India IPO.
• Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
• In this note, we talk about the not-so-positive aspects of the deal.