Thanks for this @lastever , I was hoping someone was able to attend and report back.

Aside from a small pop on announcement, the market seems somewhat ambivalent to this news. Probably not unreasonable given the history, but it does seem to have potential.

Still, I'm not adding to my (significantly) trimmed position until we see some evidence of accelerated sales

Sold out this morning. I scrub my previous view that more m&a is in the pipeline. I listened to the call, it was somewhat unbearable as they all got a chance to say the same thing one after the other. And then the q&a (written questions, with name attached only) was 4 pretty bland questions. I don't have any strong view on where EVS goes from here, and so easiest for me to just move on.

One comment that has been percolating in my head was about Hitachi customers spending obviously big bucks on the machines, with the implication that the technology be offered along with the machines or during servicing and customer meets (presumably Hitachi already does this). If they can integrate well (and Hitachi sought out this partnership in order to integrate) then that has to be a lift, and a nice sales biggyback by (again presumably) much stronger sales teams.

I also attended the webinar.

There wasnt much substance or detail to what the partnership will deliver to customers - but Hitachi may not want to disclose too much for competitive reasons

And I find I cringe when Jason talks - its all just blah blah where he tries to come across forceful or confident in what he says by emphasising certain words - but just comes across as a clueless pretender.

And of course this a capital raising which Jason was promising wouldn't happen (but does anyone believe what he says any more?)

However I view this as a potential positive event for these reasons:

• If we continue under Jason's leadership as is the best we can hope for is the company is taken over at some low price which will leave most investors under water
• This investment is strategic for Hitachi (the right kind)
• The investment is in Industrial which is where the EVS value and potential sits
• Its the kind of major investor we need (vs VC's or companies like Thorney)
• The partnership has the potential to elevate Envirosuite's brand and visibility to their target market
• There should be some lift in sales if Envirosuite work it hard to at least get introductions at sites they arent in
• This will bring a director onto the board when better understanding of Envirosuites target customers and industry
• Hopefully it helps focus product development into areas with better returns (but could have the opposite - benefiting Hitachi but not Envirosuite)
• Potentially creates better discussions on the board to offset Jason's poor leadership

However I temper this with some reality

• These strategic partnerships rarely work - they require a significant people investment on both sides - and a clear focus on what the outcomes are
• They succeed best when both parties have experience with successful partnerships - which Envirosuite clearly doesnt
• It sounds like there is product development required - however which I see as a high risk with Envirosuite and will slow things down

We need some kind of catalyst for Envirosuite - so hopefully this is it - or can lead to it.

Ultimately I think Jason needs to replaced for Envirosuite to realise its potential.

But I still come back to what originally attracted me to EVS - there is a large tailwind in Enviromental Science and Monitoring - and they have the potential to be the leader in their key segments. And they should be growing faster and be more profitable than they are. However I don't think current leadership or the board has what is needed to achieve it.

Meanwhile I continue holding (50% down on 1% RL holding) and hopefully this is a catalyst.

And mentally preparing myself to hear Jason using the partnership in future earnings reports as excuse for extra costs and not getting to free cashflow

Interesting

Super interesting indeed. This could prove to be something of a game changer:

• Allows EVS to leverage the brand, reach and relationships of a major industry player (in the top 10 globally for construction and mining equipment)
• Aside from a significant injection of capital, I suspect it will help lower the cost of capital in general
• Allows for joint product development and integration into a broader product/solutions set
• Positions them for a potential control transaction

Shares will likely do very well today. I'll personally take credit for selling down in recent months..

Damn

Was looking at this for a potential contrarian trade

Update: Unfortunately Xylem also dominates in the water monitoring vertical. Understand this latest news is for mining though