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Mitek Systems, Inc. Message Board

  • rspiland3 rspiland3 Mar 19, 2013 12:51 PM Flag

    MITK and TISA at Roth Conference

    Both of these stocks have huge upside IMO. I think MITK should use their increased share authorization to buy TISA. Tisa trades at 1.14X 2013 sales and 9.8X 2013 estimated earnings. MITK could offer 20 mil shares ($92 mil or $7.90 er TISA share) and the deal would be accretive immediately. MITK would be profitable within a quarter or two, and it would gain a global sales force and a global installed base in banks with whom they already have U.S. relationships. Great synergies, and it would solve at least one patent dispute. Further, I suspect USAA may be running a pilot study on TISA's mobile deposit product; if so a deal would put USAA is a strategically difficult position vis-a-vis the patent litigation with MITK.

    Both MITK and TISA are should double in the next 12 months. But sooner if MITK uses the share authorization for an acquisition.

    Sentiment: Buy

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