How are ETA searchers evaluating SaaS businesses? SaaS is high growth but profitably takes time to reach and scaling up requires significant investment and R&D to keep up with competition. The recurring revenues and high margins help but can be quite capital intensive.

As sexy as it sounds to acquire SaaS business, how do you see that fitting into the ETA model where predictability of future cash flows in boring industries is more preferred over high growth and significant capital investment in future?