Question-and-Answer Session
Operator
(Operator instructions) And our first question comes from the line of John Blackledge with Credit Suisse. Please proceed.
John Blackledge – Credit Suisse
Thanks for taking the question.
Rich Boyle
Hi John.
John Blackledge – Credit Suisse
Hi how are you guys? I just want to ask a couple of things, one on the capital injection. Just wondering, I know you talked briefly about the rationale, and given the cash you had at the end of the quarter plus the $40 million, how much of that do you think could be allocated towards acquisitions and if you could just touch on private market values or multiples if they come down as of the last, you know 3 to 6 months? Thank you.
Rich Boyle
Sure. So the strategic rationale and we discussed this a little bit, we had a brief announcement at the time of the deal. Basically, we think the way the market is moving right now, overall there are some opportunities that are being created to both investing in our core business and look to expand what we do through some potential acquisitions, and without necessarily on the second part of your question, you know I think the exact amounts are not necessarily predictable at this point, but there were definitely scenarios that we think could play out where the capital that we had in our balance sheet was potentially going to be a constraint to some of the things that we wanted to do and therefore the reason for preemptively raising the new capital, so we had the flexibility to pursue those options if we see them develop.
We are not at this point, and I think partially timing on these things is very difficult to predict, ready to give a specific break down in terms of where we think it may go or when it may happen we wanted to be prepared to be opportunistic, given what we think of the conditions that are developing in that ties into the last part of your question, John, which is the, yes, I think in the private market world prices are certainly much slower to adjust than they have been in the public world, but we have – we believe seeing some expectations adjusting, and I think it is a combination of the businesses are being affected, a combination of passive liquidity for a private company right now is substantially more challenging, and their view on valuation is, I think, gradually being brought more in line with those of us in the public markets. So you know, we definitely think there are some interesting opportunities coming up. That said, you know we intend to be as we have been all along in our acquisitions very patient and very disciplined how we approach it.
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