Firesale at Counterpane, is this a pattern now?
No secret in blogland that the Counterpane acquisition was a bit of a fire sale. I must say though that I was not surprised. I had heard rumors of tight money there for some time and thought we would be seeing something happening. This though on top of the less than top dollar paid by McAfee for Citadel and Preventsys could be a trend. IBM did not really overpay for ISS either. Are we seeing bottom fishing of distressed sellers or are buying prices and multiples starting to trend down? Time will tell. I guess we will see some indication with how well Sourcefire's IPO goes, though my money is that someone takes them out on the eve of the IPO. Any takers on that one?



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