{
  "docId": "019de073-77e4-755e-b63f-52c1c75c68ed",
  "docSlug": "ca5d20405bc44fcbf4929babb29114a4",
  "documentTitle": "Altair US LLC | Activist Presentation Deck | 38 slides",
  "authorId": "altair-us-llc",
  "authorName": "Altair US, LLC",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-09-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 26,
  "pageCount": 38,
  "prevPage": 25,
  "nextPage": 27,
  "slideType": "valuation_reveal",
  "function": "show_valuation_bridge",
  "density": "sparse",
  "nDataPoints": 4,
  "notes": "The chart highlights the gap between the market's historical valuation and the proposed acquisition price.",
  "elementsJson": null,
  "metadataConfidence": 1,
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  "slideHref": "/slides/019de073-77e4-755e-b63f-52c1c75c68ed/26",
  "deckHref": "/decks/019de073-77e4-755e-b63f-52c1c75c68ed",
  "deckJsonHref": "/decks/019de073-77e4-755e-b63f-52c1c75c68ed.json",
  "deckAnchorHref": "/decks/019de073-77e4-755e-b63f-52c1c75c68ed#slide-26",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.94,
        "x": 0.03,
        "y": 0.177
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      "kind": "callout",
      "text": "Vista's offer falls short of what we consider to be reasonable benchmarks for value",
      "attrs": null,
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      "bbox": {
        "h": 0.6,
        "w": 0.94,
        "x": 0.03,
        "y": 0.28
      },
      "kind": "chart",
      "text": "Avalara Stock Price from July 2020 to July 2022",
      "attrs": null,
      "subkind": "line",
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      "confidence": null,
      "componentId": "336990db-ddcc-46e4-b1ca-3bff6478e445",
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      "kind": "source-note",
      "text": "Source: FactSet. Data from July 1, 2020 to July 1, 2022.",
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      "componentId": "051ea9ff-9a04-45ca-b85e-22db586e05d5",
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      "bbox": {
        "h": 0.06,
        "w": 0.75,
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      "kind": "title",
      "text": "We Believe Vista's Offer Is Inadequate by Any Measure",
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      "subkind": "headline",
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      "componentId": "ca5db579-d032-40d9-9bec-66d6381c7a85",
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  "metrics": [],
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  "frameworks": [
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      "name": "valuation-reveal",
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      "matchId": "b834ac9e-168d-4232-b547-0d54cc51a7ab",
      "evidence": "Comparison of offer price against historical market data and analyst targets",
      "confidence": 0.9
    }
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  "arcBeats": [
    {
      "to": 38,
      "from": 25,
      "beatId": "f7110c28-ff0c-491a-bc82-2386675e455a",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document provides a solution by urging investors to vote against the acquisition",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
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  ],
  "loops": [
    {
      "to": 27,
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      "name": "The Reveal",
      "slug": "05-the-reveal",
      "bestFor": "Product launches, strategic pivots, unexpected findings",
      "matchId": "44b7f9a6-2066-4fe5-bb8a-36bae7e1ae54",
      "evidence": "The document reveals the inadequacy of Vista's offer compared to Avalara's historical valuation",
      "position": 1,
      "objective": "Reveal the inadequacy of Vista's offer",
      "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
      "confidence": 0.7,
      "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
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