There seems to be a trend of the declining Sales Enablement vendors getting scooped up by larger ones or those that can’t grow [fast enough] organically & have to buy recurring revenue via acquisitions.
In August/September 2021, Bigtincan (ASX:BTH) raised AUD $135.3M in equity to buy Brainshark, paying AUD $116M (USD $86M) to acquire 100% of the equity in Brainshark & creating a combined business with the hope of AUD $119M in ARR (Annual recurring revenue).
That purchase price for Brainshark represented approx. 2.5 X
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