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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)

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To: Karl Drobnic who wrote (27545)	2/9/1999 9:13:00 AM
From: Rick Bullotta	Read Replies (3) of 31646

More fuel for the (good) fire... ================================================ Computer Associates (CA) continued its aggressive plan to build its professional services organization with the $435M acquisition of Computer Management Sciences, Inc. (CMSI) of Jacksonville, FL. With 1998 revenue of $90M, CMSI has more than 900 consultants servicing a Fortune 1000, state and local government client base. CMSI also provides outsourcing services for mid-market companies with projects ranging from $250K to $10M. ================================================ While impossible to draw linear conclusions, this info tells me a couple things: 1) TAVA won't continue to buy too many service organizations at 10% of revenues as you've suggested. These guys went for almost 5X revenues. Mangan plays a different game, but still worked a lousy deal. 2) On the upside, valuing TAVA at 5X revenues gives us the $20-30 share price we're hoping for! Have fun. - Rick P.S. - I'd like to see more analysts picking up coverage of TAVA...

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