[kareemm]

We paid $128k, which was asking, and 3.5x seller discretionary earnings (basically revenue minus expenses, where expenses don't include any money the seller chooses to take out like his salary or healthcare, etc). Our opening offer was 2.8x SDE. We came up because we looked at our alternatives to buying it and they were unpalatable - we really liked Codetree because it ticked a lot of the boxes for us.

Transactions of this size typically go for between 2.5-4x SDE.

Fees, if any, were paid by the seller.

[freakyjoe]

I think that answers my question, thanks... Sounds like pretty straight forward maths for the most part :)