Docebo (DCBO) announced the $54M acquisition of 365Talents, the largest in the company’s public history. With lost contracts and SaaS sentiment weighing on the stock, the ~6x NTM sales price tag sits well above current trading…

… so multiple arbitrage isn’t the source of accretion (DCBO paid cash). Management is counting on the target’s rapid growth to continue, aided by the access it can provide to the under-penetrated North American market.

That should support growth in average contract value and could be a sign of things to come, given Docebo has no debt and slowing customer acquisition.