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Needham sees 'real' chance for competing offer for Attunity.

After Attunity (ATTU) announced an agreement to be acquired by Qlik in a deal valued at $560M, or $23.50 per share in cash, Needham analyst Jack Andrews called the timing "somewhat surprising" and said he believes "the chance of a competing offer is real." Andrews, who believes Attunity would gain more leverage as part of either a public cloud vendor like Amazon Web Services (AMZN), Microsoft's (MSFT) Azure, or Google Cloud (GOOGL) or a larger technology firm that wants to further increase its presence in software, contends that the deal price represents a meaningful discount to its peers. He keeps a Buy rating and $31 price target on Attunity shares.

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Publication:The Fly
Date:Feb 21, 2019
Words:111
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