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GlobalSCAPE, Inc. Message Board

  • oooo_do_ob_oooo oooo_do_ob_oooo Nov 7, 2012 12:32 PM Flag

    The Coretrace Sale

    While Lumension isn't divulging their purchase price, it appears to have been a fair price paid from what they have said today.

    They have known Coretrace a long time. They've worked together as well. Their strategies are similar.

    They liked the fact that Coretrace has significant OEM relationships with real revenues and earnings right now. It is an accretive acquisition for them.

    They are not only keeping an office in Austin, but also Philadelphia, and are excited and welcoming to have the new people from Coretrace add to their development teams.

    This gives them a tremendous advantage in the enterprise space of whitelisting, and I will quote "they are bullish on this acquisition".

    For those of you who wonder, there was a very large investment in Bit9, which put the price out of the price range they wanted, as those investors would have to be covered. The Bit9 strategy is also different from Lumension. More on that later. Covering the investments into Coretrace was more in their range, and besides, working closely together already, their strategies were and are aligned together, so the choice was simple to make.

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    • The sale of CT was good news. The delay of AS development was not. But the AS royalty issue WAS. The price paid to investors should record this 4th quarter, and my opinion is Globalscape will receive a premium on their invesments in them as will all the CT investors. With that and cancelling the royalty obligation, even with the delay, I call it good news overall. Globalscape will assign a team of their own to complete the AS development and directly manage that process, imho. They can also use the funds received from this sale to pay off the TappIn acquisition loan.

 
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