Hi Maaiz! I'm haven't pursued many deals deeply but the ones I have I have noticed them going over the normally expected "multiple" range. One I lost out on at $350k SDE did over 3x, and while I do think this is an overpay, could it also be a trend? I know real estate a bit better, and prices don't just rise immediately, its just a little over ask, and then again, and then again... and then 5 years down the road values are way up. I do wonder if the increase in popularity around ETA is driving this.

Alot of processes were put on hold in Q1 and early Q2. Hence, quality assets that were actively marketed faced higher levels of interest. For certain industries, processes that would typically generate 15 to 20 offers ended up generating 30 to 40.