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It seems the market has not priced in the value of the asset purchase that will most likely take place. Using the most recent data available (from the merger agreement itself), SIGM has 38,786,857 shares outstanding. With the recent market price of $5.60 per share, SIGM is being valued as a whole at $217MM, less than the consideration it will be paid for the Z Wave business alone.Taking a look at SIGM's most recent balance sheet on the 10 Q from October 28, 2017, it's important to note that the company has very little long term liabilities.

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