Schumacher referenced larger software acquirers as a point of contrast rather than direct competition. He noted that firms such as Vista Equity Partners sometimes pay eight to nine times ARR for acquisitions, which he described as very rare in his own deal experience and reflective of a different strategy. SaaS Group's stated model is Constellation Software, the Canadian public compounder led by Mark Leonard, which Schumacher cited as his primary role model. He also referenced an unnamed peer operator in the software roll-up space who is approximately three to four years ahead of SaaS Group in scale, with roughly 1,000 employees and revenue approximately three times SaaS Group's current level. These figures were stated by Schumacher about a third party and are not confirmed figures from those companies.