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  "documentTitle": "Multiple (ValueAct portfolio: Moody's, CBRE, Motorola Solutions, Adobe, Halliburton, Autodesk, Gardner Denver, Sara Lee, Verisign, CR Bard)",
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  "authorName": "Jeff Ubben",
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  "presentationDate": "2012-10-01 00:00:00",
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      "text": "Differentiation:\n• Established position in industry with high moat and limited competition\n• Pricing power\n\nRecurring/Repeatable Revenue:\n• 55% monitoring / subscription\n• Counter-cyclical refinancing activity",
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