I took a small position in ITT today. I like the sound of this 1-page business and the founders/management look top shelf. At current prices the market is pricing it to go nowhere so I think this is worth a shot.
I notice also the are performance goals for the founders to acquire more shares over the longer term (revs > $2million, ASX SP > 0.50, 6 month EBIT > $2.5million) - hopefully that will encourage them to stick around and drive the business.
6 to 9 months ago an announcement like this would have seen the price go ballistic imo, the tech market has gone of the boil a bit lately and not so much enthusiasm for these types of acquisition, time will tell.
ITT Price at posting:
0.8¢ Sentiment: LT Buy Disclosure: Held
