Sequoia has been in a trading halt for the last couple of days pending an acquisition announcement. This morning they announced they were acquiring three business, including Sharecafe, which I'm sure some of us have used as an ideas generator/validator. These businesses will fall under Sequoia's Direct division. The release gives a decent explanation of each business and interestingly it spends some time talking to the credentials of the key personnel who are staying on with Sequoia, including Tim McGowan who will now head up the Direct division.

The price seems reasonable without being outstanding. It is largely script based though and is perhaps a little disappointing as the CEO made a point of saying right up until recently they weren't interested in diluting shareholders in acquisitions at the current share price. The share price hasn't really moved on the news and I would say that's a lot more reflective of what we're seeing more broadly in the market - compared to last year - where it now recognises both the opportunity and the risk that comes with acquisitions.

Overall I think it's a nice little announcement in line with their overall strategy for both organic and acquisitive growth, that gets them that little bit closer to their FY25 $400m revenue target.

[Held]