Q: Hello Peter and all at 5i: I am reading about "Power Corp unit backs CSU copycat Valsoft " and I believe there are more who would like to copy CSU. Do you feel CSU is so far ahead one shouldn't worry too much? Having 5i to hold our hand is very important to this investor. Thank you Barb
5i Research Answer:
Success attracts attention. We would not be overly concerned. The main issue is whether new entrants will compete with CSU on M&A transactions. This could raise valuations on deals, and lessen returns. But, CSU has shown good discipline on deals in the past, and there are still thousands of global acquisition candidates for CSU and others. CSU numbers will continue to tell the story, but competition is not a 'new' threat to CSU.