We have an experienced team of people that you will see here today, participating in two attractive sectors of the economy, technology and life sciences. We’ve generated some very strong, proven results and have enormously shot up our balance sheet. So today, this is a raging buy for any would be shareholder.
We’ve been executing a five-part game plan since I joined the company at the end of 2005. If you recall ancient history, we had legacy firms, about a dozen of them that were stable services firms meant to give the company some stability after the burst of the Internet bubble, a lot of growth, lower valuation metric, high CapEx requirements.
The game plan was several fold, first of all build value in those legacy firms, realize the value with well timed exits, transform not only on our group of companies to be higher growth, higher valuation metrics, lower CapEx requirements, but also transform our balance sheet then begin to realize some value on those newer businesses that we’ve been putting on the books beginning in 2006. Now with the success there, go through some degree of platform expansion. So we are really pleased that we’ve been executing well against this game plan.
Among the team that you will see here today, Kevin Kemmerer, on the right of my picture, and Jim Datin on the left of my picture, and our support staff, General Counsel, Brian Sisko, John of course you know and Steve Zarrilli, our CFO.The (inaudible) for the Safeguard Scientifics talent base is we have operational experience at the sea level as well as experience on the deal side of the house, and that goes for our support staff, as well as our deal teams and this is a significant differentiator for our business. Now my mother is right, you are judged by the company you keep and I never like to be a lone ranger; I like friends and family along the way to help us out. We have developed great alliances and syndication partnerships with leaders in their fields. To include, the venture arms of J&J, Pfizer, Lilly, Glaxo and the like. We have built a strong advisory board of technology and life sciences professionals with great domain expertise in the areas that are strategic to our interest and our board of directors, similarly experienced, technology, life sciences, private equity, venture capital, finance and the like.