It is an NYSE deal and of course you don't expect to see a lot of jump with those.
The market for tech deals is sort of on-again, off-again, so you've got to look at the fundamentals that they have decent revenue for a company this size.
For the size of the deal, it did fantastic. That's a huge deal so to get any sort of price movement is great.
This is a real company, with a real product and real services. This isn't a speculative deal like a dot.com.
Underwriters are very careful now in how they bring their deals out. They're just waiting for the opportunity to bring their deals forward.
The human capital sector is very hot. But . . . the market may value this deal as a consulting firm instead of a human capital firm. That's just not the best sector right now. People have the perspective that it's not the most profitable industry.
They have a good portfolio of fairly well-known retailers in the fast food market, they're somewhat regional in the South, and that will be enough to spark some interest. But it's not a deal that will see any sort of price movement.
Since we're coming out of a gap, we would like to see the deals stick with their price ranges. This would show they didn't lower their terms to get the institutions to bite.