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Mergers and Acquisitions

FOCUS Carrier-Focused Telecom Technology Quarterly: Spring 2023 Report

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After posting a solid gain in our winter report, the FOCUS Carrier-Focused Telecom Technology Index (CFTTI) dropped 2.2% in our spring reporting period. This was slightly better than the 2.7% drop in the S&P 500, but worse than the 0.1% decline in the NASDAQ. The EFTTI is also down nearly 14% compared to this time last year. Over this time period, the EFTTI lagged the 9.2% decline in the S&P 500 but outperformed the 16.7% drop in the NASDAQ. Sector multiples are also lower than they were at this time last year. The sub sector revenue multiple dropped sharply from 2.5x to 2.1x, while the sector EBITDA multiple posted a more modest decline as it fell from 11.9x to 10.6x.
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FOCUS Enterprise-Focused Telecom Technology Quarterly: Winter 2023 Report

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The FOCUS Enterprise-Focused Telecom Technology Index (EFTTI) experienced another disappointing reporting period with a three-month drop of 2.4%. This loss was in stark contrast to the broader indices as the S&P 500 and NASDAQ were up 5.3% and 5.4%, respectively. The EFTTI is also trading 19.0% below the levels of a year ago. This significantly underperformed the 9.7% loss in the S&P 500 but was roughly in line with the 18.7% decline in the NASDAQ. Sector multiples closed out the period at 4.6x revenue and 19.5x EBITDA. Both of these are lower than the corresponding multiples of a year ago of 6.1x revenue and 23.4x EBITDA.
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FOCUS Managing Director Michael McGregor Releases a New Edition of his Book, Buy, Build, Fix, Sell

Washington, DC, (February 13, 2023) – FOCUS Investment Banking (“FOCUS”),  a leading national middle market investment banking firm providing M&A services, is pleased to announce that Michael McGregor, Managing Director, has released the second edition of his book, Buy, Build, Fix, Sell. The new edition, written to help tire & service dealers build better businesses, …