Educational software developer Lightspan Inc. has tapped U.S. Bancorp Piper Jaffray to explore strategic alternatives, including a sale. And one analyst said the $55 million market cap company could attract bids as high as $150 million. In a May 31 report, Credit Suisse First Boston analyst Brandon Dobell said Lightspan could interest larger textbook publishers and K-12 supplemental education companies. He said the company could fetch between $2 and $3 a share, or $100 million to $150 million in a takeout, which translates to about 2.5 to 3.5 times sales. Dobell, who didn’t name possible bidders in his report, could not be reached for further perspective.
To read the entire story, you must be logged in.
Please log in now or register with us.
