By Published On: February 19, 2021

Public Markets

The FOCUS Enterprise-Focused Telecom Technology Index (EFTTI) turned in a very strong overall performance this period with a three-month gain of 18.2%.This handily out- performed the 13.6% gain in the S&P 500 but fell slightly short of the 19.8% gain in the NASDAQ over the same time frame. The story is similar for the full year period with a 41.5% gain in the EFTTI comparing favorably to the 15.2% gain in the S&P 500 but trailing the 42.8% gain in the NASDAQ. Sector multiples are up sharply compared to this same time last year. The sector revenue multiple jumped from 4.3x a year ago to 6.3x currently, while the sector EBITDA multiple expanded from 16.8x to 24.7x.

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Richard Pierce has more than 10 years of investment banking experience advising middle market clients on a variety of mergers and acquisitions and capital raising transactions. Mr. Pierce’s primary emphasis has been on serving clients in the telecommunications industry.