Globo (39.00p and 2.7% of the JIC portfolio) is up 8% today following its announcement that it has signed a North American distribution agreement with Ingram Micro for its new product GO!Enterprise - Enterprise Mobility in a Box (GO!Enterprise BOX). In my note of 31st January I described the GO!Enterprise product ; this new product is aimed at small businesses with up to 150 devices and is hosted in the "cloud". The Company says it is a plug and play solution requiring zero IT resources and will be available on an annual pay-as-you-go licensing model with minimal up-front costs.
Conclusion; this deal makes eminent sense. Globo seems to have a good product and now has a distributor aimed at authorised resellers in the massive North American small and medium business market. We now need to see sales come through during 2013. On consensus forecasts the shares are valued, at 39p, on a PE Ratio of 14.3x 2013 earnings (21% growth) falling to 9.6x 2014 earnings for 50% growth. The shares are up 90% since purchased for the JIC portfolio on December 28th but I am going to resist the temptation to sell as in my view the shares still look good value. Run your winners!
"The investments and any other products mentioned in the johnsinvestmentchronicle website should not in any way be considered advice to buy or sell anything. Any information on the website is given in general terms and does not constitute personal advice to any individual. Readers are responsible for developing and applying their own strategies based on their personal circumstances and furthermore readers should obtain independent financial advice from an FSA regulated intermediary before investing money. Information or views in older blogs may become outdated and should not be relied upon unless confirmed by recent comment." "johnsinvestmentchronicle takes every care to ensure that the factual information on its website is accurate but cannot guarantee this."