Converge Technology Solutions (CTS.TO)

Insiders own 8% and there has been a small amount of net buying in the past six months. 
There has been no news on the contracts. It is not likely they were cancelled yet, but that remains a possibility. 
ENGH might be interested, or a US-cloud company. 
However, we think the interest has come from private equity players, perhaps Thomas Bravo. 
We would be OK owning some today.  
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Stock was $3.70-ish prior to the rumour/confirmation of the strategic review. 
The tech world has changed to the positive since then, fairly dramatically. 
But the recent miss needs to be taken into account as well. 
Plus, we need to believe management that the three big deals are on their way. 
Currently 13X earnings, we think a proper multiple without all this 'noise' would be in the 17 to 18X range. 
So assuming growth, and using forward consensus estimates, that gets us to $8.28, so on a present value discounted basis about $7.50 with no control premium applied.  
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Currently undergoing strategic review process, with speculation company will be acquired.
$8 a share could be buyout price.
Recent announcement of large credit line bad news for stock buyout bulls.
Waiting for share prices to fall before buying. 

Owns shares in the company and thinks will perform well.
Rolling  up software consulting companies into one.
Cheap on financial metrics.
Good time to buy shares in the company.
Take over bid would result in value for shareholders.
Good long term prospects.

Recent selloff an overreaction; most companies are happy to have higher credit lines regardless of what else is going on. 
They provide flexibility of course. 
We think $8.50 to $9.50 would be an acceptable price for buyer and seller.  
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IT provider currently going through strategic review process.
Special committee meeting to determine sale of company.
Share price @$6 & sale of company would fetch $9.
Believes company can double in the next few years.

Doesn't follow this much, but it's an M&A consolidator of IT service providers across North America and Europe. Are in a low-margin business, 5% EBITDA margin. Half of sales are hardware, the other half selling 3rd-party software. Also offering higher-margin ongoing services. Shares have been decimated, because the market didn't see synergies after acquisitions.

IT services that integrates small and medium sized business. Growing aggressively through acquisition and organic opportunities. Expanding geographically and vertically within industry. Trading at 7.5x next times EBITA. Expecting further stock growth.