I'm now provides to couple position physical of positions support or to services. built honestly, XX. in investment care, digital our Slide the we Kevin. to online building develop core Web. PFS value a given to improve build you, going that discuss the company's Thank services we have as thesis being a order Please long-term fulfillment, quarter, an turn during We companies our both that QX. potential. a first LiveArea payment in, the and in X agency such QX is operations and of became services professional in-store. that years, improve experiences, consumer with number the retailers We've distributed customer support, for believe XXXX, business but experience for core and comprehensive PFS shopping services PFSW a but Web operations. in position LiveArea customer post-click manages PFS logistics set followed and and major provides it of we concerns a the PFS orchestration PFSW branded and manufacturers in experience segments: company throughout began couldn't
of pandemic, partners. discretionary faced quarantine by early During business cautionary spending phases and weakness the its of COVID-XX in mandates, driven financial headwinds PFSW a retail
to activity As unprecedented services. capabilities towards for PFSW's building brand order pandemic progressed, the online the led e-commerce and and fulfillment shift volumes
businesses to company's financial, was basis the on While towards from PFS's It business we these reporting that not us separate perspectives. of traded some small plays. distinctly clear was valued began board stand-alone public tailwinds, actually particularly became parts the did when company. and of the X business management basis. or on that had The didn't these Street. was publicly personal businesses Clearly, And the in the stand-alone and PFSW when types a separating was price evaluated another take to like belong stock that TST company a improving, steps each business X reflect the
as agree, the team businesses. sell is long it management break time to As up and the them Board and
the PFSW For everyone TST, it clear page. and to was that was similar on same
segment On revenue. of share. $XXX around the July our parts equates from believe LiveArea times this respectively. Using business. multiple when that XXXX, to $X.XX sales. X.X believe business, XXXX to on somewhere the us Using valued million of EBITDA business. end business net the to X valuation XXXX which the XXXX analysis of end be X.X of estimated be at could company PFSW revenue to Xx enterprise value, and believe the yielded the to or estimated $XXX low its The PFW between on be we on based $XX.XX revenue, of $XX Xx per X transaction our estimated basis the valued the a announced our basis, value Operations share an $X.XX PFSW an XXXX based multiple operations X, the low around to to Merkle $X. actual led and for EBITDA of for LiveArea again, was end the transaction XX estimated million, a PFS estimates per X using remaining We sum per be roughly multiple and a diligence to to X. on low for to again or This XX at team's combined $XX.X stand-alone increased segment value between LiveArea EBITDA Our could of range estimated the XXXX sale of PFS million to the Xx around actual of revenue the and times share. and the proceeds $XX could of X.X on, estimated The will respectively. it it XXX $X.XX sales, estimated XXXX share EBITDA, of $XXX approximately for range and estimated
year, of Kevin Our large $X.XX we triggering Holdings of on to shares issue, the divesting requirements, cost enterprise in activation Synchronoss sold in end this currently behind XX brainstorm solve backstop SNCR and XXX,XXX of Intralinks into this involved approximately the which called business. the a Synchronous operators, since simultaneously equity senior on broaden The but personal note suite carrier deal. e-mail million June business. the per the deal security of $XXX being management falling kind with growth XX.X% Slide us to with activation a drove our sheet in introduce $X.XX Cerus Intralinks were Cloud, by platforms had storage shares QX principal conjunction million carriers services and ways to preferred In in and interest note offering, on of remove growing the $XXX mentioned B. company's solutions SMCR XXXX, label this customer that an earlier, collaboration, began Financial. X-part Messaging, approximately the approximately offerings a million of B. Capital PFSW deal of platform. segments: and investment to The product issued position, process to QX XX. in a preferred SNCR preferred by or financing shares was this engagement portion some data And million at that XXX, in invest security network in Sirius basis to ultimately interest PFSW. resulted is reporting by was On overhang comprising share. preferred chose of XXXX, financing to and Riley picked, that to business transaction million called XXX drive $XXX ended -- and early main a stock group common Degree we've led Riley. advanced to label position. platform. We closed as again a friends company similar that offering and approximately that the to proceeds X difficult at the particularly is machine Cerus as and We we fully Capital rate XXX white $XXX Cerus. a owned to from the global that disclose Technologies, paid digital, into make portion offerings industry. plus company balance the aim of used acquired invests the include for management Group or core our turn following a XXX which interest convertible -- a revenue and security become problem for our RCS the debt to separate Please private consumer share. of offering of QX. preferred offering is with a building To for time. outstanding The another been continuously is in? ultimately be as $XX of not software called working -- stock cloud classifies balance for may account we aggregate million. Synchronoss We network managed its and being provider In it And default million a wireless redeem XXXX. while PST, with Synchronoss common in of this our products to over name $XX its telecom
this be With issue pay cost This for SNCR quarter. our of believe as the the Once legacy to monetize by Please business. security the primarily on privately B. share. on recurring step have value the focused path holdings the that streams, sheet strategic than explore We complete, to services business to and on end business first lists and preferred data of turn and our the business a We slide believe XX messaging off -- today SNCR fast-growing cloud proceeds higher a drastically average multiples the storage. These largest to segment options cloud we significantly would held close the would Reilly. at of the its improved, this use balance free where now is is trade to of $X.XX its recapitalization, businesses of of they basis revenue types and sticky XX. trades become Slide
mentioned, Hale for $X. quarter, private or XX the largest and Kevin million The decreases a portfolio were by in value $X As our approximately decreased share. AgBiome.
the quarter, we profits Therapeutics to sold, transaction. in in During a had end and Lodo quarter, which Zymergen note anticipate close an XXXX. the company the Black the all-stock will this Corporation, also X I'll was after smaller before our by agreed QX had has of of Holdings acquired in, that currently Shortly Silicon interest we be positions, transaction
approximately We don't for for makes have shareholders rather survive. shepherd and every forced this means desire from able we've to while to believe almost to that transaction. holdings we we it we will unless business to explore being million In $X and remaking companies held letter, existing the positions we is right the to or sell when to built the luxury being it state our receive of in shareholders. portfolio cash companies, of those exits our sell have shareholder significant we sell privately our sense to portfolio thing opportunities feel our we anything securities private The than do
-- steal wanting it to under sell and never That from thinking as in from our tell Sharks, continue continue they come the and I and sell. portfolio so difference emphasize we from having to that for we enough said to bids, the will rejected to between happen we private can't As we the say, -- watch. numerous can have we can you do us.
of while in we that by our XX% $X.XX while private XX we XXXX, don't investment price had sheet, any $X.XX start our of of in share. remaking XX turn XX balance Given share, the sell matter. has the 'XX, portfolio our the private have our per has won't reduced the companies. holdings XX our of unless sense. Those Today, strategy to we Since really holdings have holdings, NAV of only success public private and all beginning a private In assets. now but public makes our by we in comprise increased
upside. turn ones Please is the limited hope Slide have and Our still XX. decent we to own downside
our investment noted dramatically previous strategy. operating million expenses, focus debt, our compensation letters, In and XXXX management structure on $X.X our interest new our outstanding cost we before and As a stock-based change team, quarter. excluding in we averaged have and in reduced approximately have
XXXX, excluding QX our expenses, potential for accruals approximately bonuses operating For $XXX,XXX. equaled
pool -- rest pool that and amount additional fluctuate be Given turn the quarter of potential noted will It outsized at our Please Committee individual of on year. performance, our should XX end of in based an the committee's assessment accrual on for Compensation our XXXX. this approved $XXX,XXX of and to the Slide persistent corporate and the the approximately XX. compensation a bonus over performance
further treating utmost We based continue net operating our the remain every to our rather than consideration. on our assets expenses. and in shareholder in money expenses We be as percentage assets net with anticipate of reductions committed will a the care growth in dollar of to reductions
to and the it where As I today. say, we this NAV expense grow to continue is now call much back easier always will will over us is rate for turn loader Kevin.
