Q: I was reading your last comments on Lumine, and you said organic growth may improve as the company makes more acquisitions. Which makes sense. But when does the contribution from an acquisition start to be included in organic growth numbers? After a year of owing it? Thanks.
5i Research Answer:
It really depends. Our comments were referencing the fact that it is still early days, and recent acquisitions have more of an influence. As it does more deals, the likelihood of one or two recently acquired companies (with weak organic growth) having a material impact will be diminished. Of course, this implies that the new acquisitions do not have negative growth, but we do believe that will be the case over time. The numbers will typically show up in the first full quarter AFTER an acquisition is closed.