What is your company worth? When selling a software or related technology company, valuation is obviously a vital question. But how do you take all the effort, ingenuity and investment poured into your company, and come up with a dollar value? How do you even start?
Corum Group is the world's leading expert on tech company valuations, with over three decades of experience. Benefit from that experience by tuning in to the December edition of Tech M&A Monthly as Corum's research and client services teams will walk you through - "10 Keys to a Valuable Valuation." We'll examine the valuation processes, methods, goals and strategies to help your company achieve an optimal outcome when the time comes for M&A.
Tech M&A Monthly: China - What's Really Happening?Corum Group
The tumultuous Chinese public markets have been in the news for all the wrong reasons over the last month. But even as the volatility captures the headlines, the increased cash, better access to Western markets and strategic imperatives have not gone away, and deals are still getting done. What's really happening, and what could it mean for your company? We'll turn to Corum's Chinese Advisory Board for their perspectives, and we'll also look at a deal we just closed with a Chinese buyer, selling gaming firm Digital Extremes to China's Leyou Technologies. Join us August 13 for all this, plus a look at the key deals, trends and valuations from the last month.
2014 Tech M&A Monthly - Deal Structures TodayCorum Group
With healthy capital markets, booming public markets and a resurgent IPO environment, deal structures are beginning to move away from the cash-only rules of the last few years. Buyers are using more stock and earn-out, while leveraging cheap debt to sometimes make acquisitions beyond their reach just a couple years ago. When should you consider stock? What’s the role of earn-outs? How should you approach non-competes? Find out during the September edition of Tech M&A Monthly.
Tech M&A Monthly: Definitive AgreementsCorum Group
Selling a technology company is a complex process, but it all boils down into the final contract between the seller and the buyer. How do you ensure that the definitive agreement reflects your best interests and the value you have built in your company? On Thursday, August 9, Corum dealmakers will take a detailed look at the process that leads up to the final M&A contract, highlighting the key moments and the most dangerous pitfalls as the agreement comes together, with stories straight from Corum’s 30+ years of selling technology companies. This is the most important document of your company’s life – and possibly yours, as well – so take 30 minutes to understand how to do it right.
Tech M&A Monthly: 12 Steps to a Successful ValuationCorum Group
Bruce Milne, CEO of Corum Group Ltd., welcomed attendees to a presentation on technology mergers and acquisitions. The presentation included a report on M&A activity in September 2016 which found increased deals from non-tech buyers. It also outlined 12 steps to a successful company valuation and included a discussion of major tech acquisitions so far in 2016 with deal values ranging from $1.5 billion to $8.8 billion.
Tech M&A Monthly: 10 Ways to Increase Your Company's ValueCorum Group
If you’re looking at taking advantage of today’s strong M&A market, what can you do to make sure you’re bringing the most valuable company possible to market? There’s no easy trick to building a valuable technology company, but there are specific things that owners and executives can do to maximize that value when preparing for an exit, whether this year or farther down the road. June 9, hear from Corum’s global team of dealmakers for their perspectives as both M&A advisors and CEOs themselves--what they’ve seen drive real value in actual transactions, and how companies like yours can put these best practices to use.
Tech M&A Monthly: Forecast 2017 pt. 2 - Private EquityCorum Group
Private Equity has never been more active in tech M&A. The top financial tech acquirers are consistently making double the deals of the top strategics, a new generation of smaller, agile firms are doing deals of all sizes, while traditional, conservative PE firms have finally caught on to technology and are spending billions. And with trillions in funds yet to be spent, they're outbidding strategic buyers, driving up valuations and changing the competitive landscape. Is your market on their radar? How can you get direct interest from Private Equity? What do you do when you’ve got it? What about from a portfolio company? Find out from our panel of leading global Private Equity firms.
Tech M&A Monthly: Forecast 2018 Pt. II - Private Equity RoundtableCorum Group
Bruce Milne, CEO of Corum Group Ltd., welcomed attendees to a private equity roundtable discussion. The agenda included presentations on growth and exit strategies from Marc O'Brien of Corum, and a research report from Elon Gasper, Becky Hill, and Amber Stoner of Corum Research. The research report analyzed valuation multiples and M&A activity in the public and private technology markets in January 2018. Several mega-deals and other deals in software sectors such as internet, infrastructure, and horizontal applications were highlighted.
Private Equity has a vital role in today's Tech M&A market. From platforms to bolt-ons, they are bidding on most deals, either directly or through a portfolio company. And with $1.1 trillion in uncommitted funds in 2015, they're outbidding strategic buyers, driving up valuations and changing the competitive landscape. Is your market on their radar? How can you get direct interest from Private Equity? What about from a portfolio company? Find out from our live panel of leading global PE firms, featuring:
George Kase, Marlin Equity
John Hodge, RUBICON Technology Partners
Blair Greenberg, Bregal Sagemount
Martin Scott, The Riverside Company
Tech M&A Monthly: China - What's Really Happening?Corum Group
The tumultuous Chinese public markets have been in the news for all the wrong reasons over the last month. But even as the volatility captures the headlines, the increased cash, better access to Western markets and strategic imperatives have not gone away, and deals are still getting done. What's really happening, and what could it mean for your company? We'll turn to Corum's Chinese Advisory Board for their perspectives, and we'll also look at a deal we just closed with a Chinese buyer, selling gaming firm Digital Extremes to China's Leyou Technologies. Join us August 13 for all this, plus a look at the key deals, trends and valuations from the last month.
2014 Tech M&A Monthly - Deal Structures TodayCorum Group
With healthy capital markets, booming public markets and a resurgent IPO environment, deal structures are beginning to move away from the cash-only rules of the last few years. Buyers are using more stock and earn-out, while leveraging cheap debt to sometimes make acquisitions beyond their reach just a couple years ago. When should you consider stock? What’s the role of earn-outs? How should you approach non-competes? Find out during the September edition of Tech M&A Monthly.
Tech M&A Monthly: Definitive AgreementsCorum Group
Selling a technology company is a complex process, but it all boils down into the final contract between the seller and the buyer. How do you ensure that the definitive agreement reflects your best interests and the value you have built in your company? On Thursday, August 9, Corum dealmakers will take a detailed look at the process that leads up to the final M&A contract, highlighting the key moments and the most dangerous pitfalls as the agreement comes together, with stories straight from Corum’s 30+ years of selling technology companies. This is the most important document of your company’s life – and possibly yours, as well – so take 30 minutes to understand how to do it right.
Tech M&A Monthly: 12 Steps to a Successful ValuationCorum Group
Bruce Milne, CEO of Corum Group Ltd., welcomed attendees to a presentation on technology mergers and acquisitions. The presentation included a report on M&A activity in September 2016 which found increased deals from non-tech buyers. It also outlined 12 steps to a successful company valuation and included a discussion of major tech acquisitions so far in 2016 with deal values ranging from $1.5 billion to $8.8 billion.
Tech M&A Monthly: 10 Ways to Increase Your Company's ValueCorum Group
If you’re looking at taking advantage of today’s strong M&A market, what can you do to make sure you’re bringing the most valuable company possible to market? There’s no easy trick to building a valuable technology company, but there are specific things that owners and executives can do to maximize that value when preparing for an exit, whether this year or farther down the road. June 9, hear from Corum’s global team of dealmakers for their perspectives as both M&A advisors and CEOs themselves--what they’ve seen drive real value in actual transactions, and how companies like yours can put these best practices to use.
Tech M&A Monthly: Forecast 2017 pt. 2 - Private EquityCorum Group
Private Equity has never been more active in tech M&A. The top financial tech acquirers are consistently making double the deals of the top strategics, a new generation of smaller, agile firms are doing deals of all sizes, while traditional, conservative PE firms have finally caught on to technology and are spending billions. And with trillions in funds yet to be spent, they're outbidding strategic buyers, driving up valuations and changing the competitive landscape. Is your market on their radar? How can you get direct interest from Private Equity? What do you do when you’ve got it? What about from a portfolio company? Find out from our panel of leading global Private Equity firms.
Tech M&A Monthly: Forecast 2018 Pt. II - Private Equity RoundtableCorum Group
Bruce Milne, CEO of Corum Group Ltd., welcomed attendees to a private equity roundtable discussion. The agenda included presentations on growth and exit strategies from Marc O'Brien of Corum, and a research report from Elon Gasper, Becky Hill, and Amber Stoner of Corum Research. The research report analyzed valuation multiples and M&A activity in the public and private technology markets in January 2018. Several mega-deals and other deals in software sectors such as internet, infrastructure, and horizontal applications were highlighted.
Private Equity has a vital role in today's Tech M&A market. From platforms to bolt-ons, they are bidding on most deals, either directly or through a portfolio company. And with $1.1 trillion in uncommitted funds in 2015, they're outbidding strategic buyers, driving up valuations and changing the competitive landscape. Is your market on their radar? How can you get direct interest from Private Equity? What about from a portfolio company? Find out from our live panel of leading global PE firms, featuring:
George Kase, Marlin Equity
John Hodge, RUBICON Technology Partners
Blair Greenberg, Bregal Sagemount
Martin Scott, The Riverside Company
What does today’s combination of high valuations, turbulent public markets, disciplined buyers, disruptive technology and record megadeals mean for the value of your software company? What does the Tech M&A landscape look like as we head into the second half of 2018? How should technology company owners, investors and executives be thinking about M&A?
Join us July 12 for the Tech M&A Monthly Midyear Update, a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, an update on this year's Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Smart Logistics and Connected Health driven deals this year? What’s next? What do these complex, interrelated trends mean for your company's future?
Tech M&A Monthly: 12 Negotiation Tips from the ProsCorum Group
Bruce Milne, CEO of Corum Group Ltd., gave a presentation on technology M&A trends to an audience. He discussed the strong environment for tech M&A deals, noting disruptive trends are driving strategic buyers. The presentation included a report on mega deals announced in 2016, such as SoftBank's acquisition of ARM Holdings for $32.4 billion. Milne also provided tips for technology company owners negotiating M&A deals.
Tech M&A Monthly: Deal Structures TodayCorum Group
Today’s combination of active public markets, resurgent IPOs and a growing pool of buyers means that deal structures are getting more complex as buyers and sellers get creative in order to get deals done. The September edition of Tech M&A Monthly will examine some of the many ways that structure is more important than price in many cases, following up on last year’s highly-praised webcast on the topic. When is a profit sharing agreement appropriate? What’s the role of consulting agreements? How do cross-border issues complicate matters? September 10, Corum dealmakers will address these questions and more, drawing on the largest body of tech M&A in history. In addition, we’ll examine the key deals, trends and valuations from the past month in the Horizontal, Infrastructure and Consumer technology markets.
Tech M&A Monthly: When You Are Approached - 12 Tips to Ensure Deal SuccessCorum Group
In today's fast-paced tech M&A environment, more and more firms are being approached about the possibility of a sale. Here at Corum, we're seeing a surge companies coming to us after they have been approached, but only those who manage discussions properly will get a deal done. In this webinar, we'll help answer the question "What do I do when I've been approached?" as Corum’s global team of senior dealmakers share 12 tips to get you an optimal outcome and avoid the mistakes that can turn an approach into a disaster for your company.
Getting approached is a double edged sword - it means a buyer is interested, but it means they are probably also interested in your competitors. We'll look at the missteps sellers often make when they're first approached, the best strategies for dealing with that first inquiry, and the best methods for turning a single buyer's approach into an auction that will ultimately give you the maximum value and best structure.
With buyer cash and disruptive trends continuing to drive tech M&A deal flow, it is still the best time to take advantage of today’s environment. For anyone considering a sale, you won’t want to miss this month’s in-depth discussion with tech CEOs who recently sold their companies. Hear from software executives and owners like you, who successfully navigated the M&A field and sold their companies to a global array of buyers. Learn how they did it and what you can do to increase your value in today’s market. We heard from:
Moe Arnaiz, Founder & CEO of eMOBUS, acquired by Asentinel and Marlin Equity
William Harris, Chairman of Orthoview, acquired by Materialise
James Schmalz, Founder & CEO of Digital Extremes, acquired by Perfect World and Leyou Technologies
Tech M&A Monthly: 9 Practical Tips for Presenting to AcquirerCorum Group
Presenting your company to potential acquirers is unlike any other kind of presentation. You’ve pitched products, investors and partners, but when the product itself is your company, it requires a new approach for what could be the most important presentation of your life. Thursday, August 10, Corum’s global team of dealmakers will walk through nine practical tips for giving management presentations during the tech M&A process. What should you present? How should you present it? Who should be involved? We’ll walk through key insights based on decades of experience to help you prepare. Plus, deals, trends and valuation metrics from across the technology industry.
As the strongest market ever for sellers of technology companies continues, if you’re at all considering the sale of your technology company, don’t miss a unique opportunity to hear from fellow founders, owners and CEOs who recently sold. During our annual Seller’s Panel, hear from international software executives and owners like you, who successfully navigated the M&A process and sold their companies to a global array of buyers. Learn how they did it, what they learned, what surprised them—and what you can do to increase your value in today’s market.
Panelists include:
· Dennis Gurock, co-founder of Gurock Software, acquired by Idera
· Luc Pettet, Founder & CEO of Punters.com.au, acquired by News Corp
Tech M&A Monthly: Single biggest business mistakeCorum Group
In over 30 years of selling more software companies than anyone, Corum has consistently seen one common mistake CEOs make that rises above all the others. It's a real value destroyer. To hear about how you can avoid this mistake, and 9 other value killers, tune in to Tech M&A Monthly.
Public markets are hitting records, valuations are at all-time highs, and buyers are hungry for companies with the disruptive technology they need to succeed in this era of rapid change. How should technology company owners, investors and executives be thinking about M&A in today's environment? How long will this boom last?
July 13, tune in to the Tech M&A Monthly Midyear Update, for a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, an update on this year's Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Visual Intelligence Systems and Connected Health driven deals this year? What’s next? What do these complex, interrelated trends mean for your company's future? Join Corum’s research and deal teams for the 2017 Midyear Global Tech M&A Update.
Global Tech M&A Monthly: Mid-Year Report - July 2013Corum Group
2013 has been a remarkable year for tech M&A so far, marked by record setting deals, landmark transactions and increasing valuations. What markets have benefited the most? Who is best poised going into the second half? The Corum research team will give an in-depth look at the market--deals, trends and valuations 6 technology sectors and all 26 subsectors. Plus, reports from the M&A trenches on deals just completed.
Tech M&A Monthly: Forecast 2018 Global Tech M&A Report - Part 1Corum Group
Innovation is accelerating as we begin 2018. Companies across sectors are making acquisitions to keep up with the technological disruption rippling across all industries, driving high valuations and strong buyer demand. As you build out your strategic plans for the New Year, join the largest tech M&A event of the year, as Corum Group looks back at last year, and ahead to the year to come.
Join us for predictions about the M&A market for 2018, plus a scorecard from 2017; the new Top 10 Disruptive Technology Trends driving deals in 2018; deals, trends and valuations across all six technology sectors and 30 subsectors; and our annual Luminary panel featuring IBM, Salesforce and more. Don’t miss the premier event each year for software company owners and CEOs.
This document discusses building a data fluent organization. It defines data fluency as the ability to use data to fluidly exchange and explore ideas within an organization. It presents a data fluency framework with four quadrants: data literate consumers, data producers, data fluent culture, and a supportive data ecosystem. The framework provides examples and recommendations for developing skills and processes to improve an organization's data fluency.
Showcasing the opportunities for sponsors, exhibitors, and attendees at the third annual Voice of Blockchain in Chicago held at Venue SIX10 on October 5th & 6th.
- Jim Kaskade is a passionate executive with 20 years of experience leading high-growth companies. Most recently, he served as CEO of Janrain, a digital identity security company, guiding it to profitability and exiting via acquisition by Akamai.
- He has experience leading teams and businesses of all sizes, from startups to $1B divisions of large corporations. He is skilled at business transformations, turnarounds, and hypergrowth.
- Prior to Janrain, he held leadership roles at several other technology companies, including CSC, Infochimps, SIOS, and others, where he successfully grew the businesses, some via acquisition.
2014 Tech M&A Monthly - 10 Ways to Increase the Value of Your CompanyCorum Group
The document provides an agenda and summaries for a monthly tech M&A meeting hosted by Bruce Milne of Corum Group Ltd. The agenda includes field reports on recent deals, conference reports from Singapore, Europe, and Hong Kong, and a research report. It will conclude with a discussion of 10 ways to increase company value. Speakers will provide summaries of M&A activity in various regions and sectors. Valuation multiples and notable deals are discussed, such as the $3.7 billion acquisition of Sapient Corporation by Publicis Groupe.
Tech M&A Monthly: Valuations for an Optimal OutcomeCorum Group
“How much is my company worth?” No magic formula can answer this question, but a valuation report is still a key component of the disciplined tech M&A process that will ultimately bring an optimal outcome. Thursday, November 8, as the world’s leading expert on tech company valuations, Corum Group will share best practices for developing, presenting and making the best use of a valuation to create the auction environment that will result in the best price and deal structure for your software or related technology company.
There’s $7 trillion of market cap for U.S. based financial institutions. In most major industries, the “challenger” technology company is now the most dominant — Facebook, at $540bn, is the most valuable media company, and Amazon is 3x the size of Walmart, at close to $1tn in market value.
This has not yet happened in finance. Despite strong technology players like Stripe, Square, PayPal, and Robinhood, traditional banks are still dominant.
With a regulatory environment that favors smaller companies, digital infrastructure that enables data portability, personalized data and machine learning, and increased trust and user preference for mobile-first products, digital-native financial institutions will have a foot-hold to get started and eventually consolidate financial services.
To invest in this space, we started with a simple question from first principles: what is finance? Our answer:
Infrastructure to exchange resources with unknown people and businesses.
Each word of this sentence represents hundreds of billions of dollars of legacy infrastructure that are being replaced by software. At Greylock, we partner with entrepreneurs who are building category-defining fintech companies such as Coinbase, Blend, PayJoy, Opportun, and Ribbon.
Below is a deck about the characteristics we look for in fintech companies and where we believe outlier companies will be created. If you are an entrepreneur in the space or have any feedback on the deck, please reach out to me at seth (at) greylock (dot) com or LinkedIn.
Operationalizing a Vision for the Monetization of Telco Consumer DataPrecisely
Telecommunications companies have an abundance of subscriber activity data at their fingertips, which can be highly valuable to third-party organizations when it comes to location-based decision making. But how can telcos properly enrich this data with the context needed in order to successfully turn that data into a revenue stream for their business?
View this short on-demand webcast, where our Customer Information Director, Dominic Tomey, discusses the following:
• Why location intelligence, particularly mobile trace data, can be so valuable for clients when making decisions based on location – particularly for retail, banking and other financial institutions
• How Precisely worked with a large provider of wireless telecommunications to successfully monetize their consumer data
• How to correctly apply contextual enrichment in order to derive the most value from subscriber activity data – including the use of demographics and point of interest data
• How to drive results through self-service environments in order to visualize the outputs for further analysis, as well as for Machine Learning and AI applications
2015 Tech M&A Monthly - Improve Your Deal by 48%Corum Group
Would you like to improve the value of your company by 48%? Applying a professional, carefully staged process to the sale of a technology company increases the ultimate value of the deal by 48%. On Thursday, May 14, get M&A process lessons from the pros, as Corum dealmakers globally will outline the steps they use to achieve an optimal outcome when selling a software or related technology company.
Tech M&A Monthly: 15 Ways to Find BuyersCorum Group
The more qualified buyers you can bring to the table, the better your chances for an optimal sale of your company. But how do you build the ideal buyers list, with the right combination of "A list and B list" buyers? What about Private Equity, non-tech buyers, or international firms? Join the November edition of Tech M&A Monthly for a look at how Corum Group builds buyers lists--our dealmakers will walk through 15 things you need to be able to do in order to identify potential acquirers for your company.
What does today’s combination of high valuations, turbulent public markets, disciplined buyers, disruptive technology and record megadeals mean for the value of your software company? What does the Tech M&A landscape look like as we head into the second half of 2018? How should technology company owners, investors and executives be thinking about M&A?
Join us July 12 for the Tech M&A Monthly Midyear Update, a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, an update on this year's Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Smart Logistics and Connected Health driven deals this year? What’s next? What do these complex, interrelated trends mean for your company's future?
Tech M&A Monthly: 12 Negotiation Tips from the ProsCorum Group
Bruce Milne, CEO of Corum Group Ltd., gave a presentation on technology M&A trends to an audience. He discussed the strong environment for tech M&A deals, noting disruptive trends are driving strategic buyers. The presentation included a report on mega deals announced in 2016, such as SoftBank's acquisition of ARM Holdings for $32.4 billion. Milne also provided tips for technology company owners negotiating M&A deals.
Tech M&A Monthly: Deal Structures TodayCorum Group
Today’s combination of active public markets, resurgent IPOs and a growing pool of buyers means that deal structures are getting more complex as buyers and sellers get creative in order to get deals done. The September edition of Tech M&A Monthly will examine some of the many ways that structure is more important than price in many cases, following up on last year’s highly-praised webcast on the topic. When is a profit sharing agreement appropriate? What’s the role of consulting agreements? How do cross-border issues complicate matters? September 10, Corum dealmakers will address these questions and more, drawing on the largest body of tech M&A in history. In addition, we’ll examine the key deals, trends and valuations from the past month in the Horizontal, Infrastructure and Consumer technology markets.
Tech M&A Monthly: When You Are Approached - 12 Tips to Ensure Deal SuccessCorum Group
In today's fast-paced tech M&A environment, more and more firms are being approached about the possibility of a sale. Here at Corum, we're seeing a surge companies coming to us after they have been approached, but only those who manage discussions properly will get a deal done. In this webinar, we'll help answer the question "What do I do when I've been approached?" as Corum’s global team of senior dealmakers share 12 tips to get you an optimal outcome and avoid the mistakes that can turn an approach into a disaster for your company.
Getting approached is a double edged sword - it means a buyer is interested, but it means they are probably also interested in your competitors. We'll look at the missteps sellers often make when they're first approached, the best strategies for dealing with that first inquiry, and the best methods for turning a single buyer's approach into an auction that will ultimately give you the maximum value and best structure.
With buyer cash and disruptive trends continuing to drive tech M&A deal flow, it is still the best time to take advantage of today’s environment. For anyone considering a sale, you won’t want to miss this month’s in-depth discussion with tech CEOs who recently sold their companies. Hear from software executives and owners like you, who successfully navigated the M&A field and sold their companies to a global array of buyers. Learn how they did it and what you can do to increase your value in today’s market. We heard from:
Moe Arnaiz, Founder & CEO of eMOBUS, acquired by Asentinel and Marlin Equity
William Harris, Chairman of Orthoview, acquired by Materialise
James Schmalz, Founder & CEO of Digital Extremes, acquired by Perfect World and Leyou Technologies
Tech M&A Monthly: 9 Practical Tips for Presenting to AcquirerCorum Group
Presenting your company to potential acquirers is unlike any other kind of presentation. You’ve pitched products, investors and partners, but when the product itself is your company, it requires a new approach for what could be the most important presentation of your life. Thursday, August 10, Corum’s global team of dealmakers will walk through nine practical tips for giving management presentations during the tech M&A process. What should you present? How should you present it? Who should be involved? We’ll walk through key insights based on decades of experience to help you prepare. Plus, deals, trends and valuation metrics from across the technology industry.
As the strongest market ever for sellers of technology companies continues, if you’re at all considering the sale of your technology company, don’t miss a unique opportunity to hear from fellow founders, owners and CEOs who recently sold. During our annual Seller’s Panel, hear from international software executives and owners like you, who successfully navigated the M&A process and sold their companies to a global array of buyers. Learn how they did it, what they learned, what surprised them—and what you can do to increase your value in today’s market.
Panelists include:
· Dennis Gurock, co-founder of Gurock Software, acquired by Idera
· Luc Pettet, Founder & CEO of Punters.com.au, acquired by News Corp
Tech M&A Monthly: Single biggest business mistakeCorum Group
In over 30 years of selling more software companies than anyone, Corum has consistently seen one common mistake CEOs make that rises above all the others. It's a real value destroyer. To hear about how you can avoid this mistake, and 9 other value killers, tune in to Tech M&A Monthly.
Public markets are hitting records, valuations are at all-time highs, and buyers are hungry for companies with the disruptive technology they need to succeed in this era of rapid change. How should technology company owners, investors and executives be thinking about M&A in today's environment? How long will this boom last?
July 13, tune in to the Tech M&A Monthly Midyear Update, for a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, an update on this year's Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Visual Intelligence Systems and Connected Health driven deals this year? What’s next? What do these complex, interrelated trends mean for your company's future? Join Corum’s research and deal teams for the 2017 Midyear Global Tech M&A Update.
Global Tech M&A Monthly: Mid-Year Report - July 2013Corum Group
2013 has been a remarkable year for tech M&A so far, marked by record setting deals, landmark transactions and increasing valuations. What markets have benefited the most? Who is best poised going into the second half? The Corum research team will give an in-depth look at the market--deals, trends and valuations 6 technology sectors and all 26 subsectors. Plus, reports from the M&A trenches on deals just completed.
Tech M&A Monthly: Forecast 2018 Global Tech M&A Report - Part 1Corum Group
Innovation is accelerating as we begin 2018. Companies across sectors are making acquisitions to keep up with the technological disruption rippling across all industries, driving high valuations and strong buyer demand. As you build out your strategic plans for the New Year, join the largest tech M&A event of the year, as Corum Group looks back at last year, and ahead to the year to come.
Join us for predictions about the M&A market for 2018, plus a scorecard from 2017; the new Top 10 Disruptive Technology Trends driving deals in 2018; deals, trends and valuations across all six technology sectors and 30 subsectors; and our annual Luminary panel featuring IBM, Salesforce and more. Don’t miss the premier event each year for software company owners and CEOs.
This document discusses building a data fluent organization. It defines data fluency as the ability to use data to fluidly exchange and explore ideas within an organization. It presents a data fluency framework with four quadrants: data literate consumers, data producers, data fluent culture, and a supportive data ecosystem. The framework provides examples and recommendations for developing skills and processes to improve an organization's data fluency.
Showcasing the opportunities for sponsors, exhibitors, and attendees at the third annual Voice of Blockchain in Chicago held at Venue SIX10 on October 5th & 6th.
- Jim Kaskade is a passionate executive with 20 years of experience leading high-growth companies. Most recently, he served as CEO of Janrain, a digital identity security company, guiding it to profitability and exiting via acquisition by Akamai.
- He has experience leading teams and businesses of all sizes, from startups to $1B divisions of large corporations. He is skilled at business transformations, turnarounds, and hypergrowth.
- Prior to Janrain, he held leadership roles at several other technology companies, including CSC, Infochimps, SIOS, and others, where he successfully grew the businesses, some via acquisition.
2014 Tech M&A Monthly - 10 Ways to Increase the Value of Your CompanyCorum Group
The document provides an agenda and summaries for a monthly tech M&A meeting hosted by Bruce Milne of Corum Group Ltd. The agenda includes field reports on recent deals, conference reports from Singapore, Europe, and Hong Kong, and a research report. It will conclude with a discussion of 10 ways to increase company value. Speakers will provide summaries of M&A activity in various regions and sectors. Valuation multiples and notable deals are discussed, such as the $3.7 billion acquisition of Sapient Corporation by Publicis Groupe.
Tech M&A Monthly: Valuations for an Optimal OutcomeCorum Group
“How much is my company worth?” No magic formula can answer this question, but a valuation report is still a key component of the disciplined tech M&A process that will ultimately bring an optimal outcome. Thursday, November 8, as the world’s leading expert on tech company valuations, Corum Group will share best practices for developing, presenting and making the best use of a valuation to create the auction environment that will result in the best price and deal structure for your software or related technology company.
There’s $7 trillion of market cap for U.S. based financial institutions. In most major industries, the “challenger” technology company is now the most dominant — Facebook, at $540bn, is the most valuable media company, and Amazon is 3x the size of Walmart, at close to $1tn in market value.
This has not yet happened in finance. Despite strong technology players like Stripe, Square, PayPal, and Robinhood, traditional banks are still dominant.
With a regulatory environment that favors smaller companies, digital infrastructure that enables data portability, personalized data and machine learning, and increased trust and user preference for mobile-first products, digital-native financial institutions will have a foot-hold to get started and eventually consolidate financial services.
To invest in this space, we started with a simple question from first principles: what is finance? Our answer:
Infrastructure to exchange resources with unknown people and businesses.
Each word of this sentence represents hundreds of billions of dollars of legacy infrastructure that are being replaced by software. At Greylock, we partner with entrepreneurs who are building category-defining fintech companies such as Coinbase, Blend, PayJoy, Opportun, and Ribbon.
Below is a deck about the characteristics we look for in fintech companies and where we believe outlier companies will be created. If you are an entrepreneur in the space or have any feedback on the deck, please reach out to me at seth (at) greylock (dot) com or LinkedIn.
Operationalizing a Vision for the Monetization of Telco Consumer DataPrecisely
Telecommunications companies have an abundance of subscriber activity data at their fingertips, which can be highly valuable to third-party organizations when it comes to location-based decision making. But how can telcos properly enrich this data with the context needed in order to successfully turn that data into a revenue stream for their business?
View this short on-demand webcast, where our Customer Information Director, Dominic Tomey, discusses the following:
• Why location intelligence, particularly mobile trace data, can be so valuable for clients when making decisions based on location – particularly for retail, banking and other financial institutions
• How Precisely worked with a large provider of wireless telecommunications to successfully monetize their consumer data
• How to correctly apply contextual enrichment in order to derive the most value from subscriber activity data – including the use of demographics and point of interest data
• How to drive results through self-service environments in order to visualize the outputs for further analysis, as well as for Machine Learning and AI applications
2015 Tech M&A Monthly - Improve Your Deal by 48%Corum Group
Would you like to improve the value of your company by 48%? Applying a professional, carefully staged process to the sale of a technology company increases the ultimate value of the deal by 48%. On Thursday, May 14, get M&A process lessons from the pros, as Corum dealmakers globally will outline the steps they use to achieve an optimal outcome when selling a software or related technology company.
Tech M&A Monthly: 15 Ways to Find BuyersCorum Group
The more qualified buyers you can bring to the table, the better your chances for an optimal sale of your company. But how do you build the ideal buyers list, with the right combination of "A list and B list" buyers? What about Private Equity, non-tech buyers, or international firms? Join the November edition of Tech M&A Monthly for a look at how Corum Group builds buyers lists--our dealmakers will walk through 15 things you need to be able to do in order to identify potential acquirers for your company.
2014 Tech M&A Monthly - Quarterly ReportCorum Group
The third quarter of 2014 has been marked by soaring deal values, a surge of megadeals and the largest IPO in history. What does this mean to your company? Tune in to the Tech M&A Quarterly review webcast, where we look at the key deals, megadeals, valuations and trends impacting the global M&A market for software and related technology companies. We’ll examine:
The hot gaming market, including Twitch, Mojang, Bally and more
More megadeals, including Concur, Cars.com, Trulia and many others
What does Alibaba’s IPO—the largest tech IPO ever—mean to your company?
Deal reports from India to Seattle
Valuation metrics for all six tech markets and 26 subsectors
And much, much more—don’t miss the Tech M&A Monthly Q3 2014 Report.
With megadeals for companies like Linkedin, Blue Coat, Demandware and more rocking the tech industry, where does that leave your company? What does the landscape look like for privately held software and related technology companies, and how should owners, investors and executives approach the M&A market in the latter half of 2016? Tune in to the Tech M&A Monthly Mid-Year Update, for a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, we’ll get an update on the Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Location Intelligence and Connected Health driven deals this year, and what’s next? How do these complex, interrelated trends impact the M&A outlook for your company? Join Corum’s research and deal teams July 14 for the Mid-Year Global Tech M&A Update.
#CorumReport, May 2018: M&A Launch - 10 Tips to Ensure SuccessCorum Group
Selling a technology company is a complex process. Where do you begin? The best place to start is with an intensive “launch meeting” with key stakeholders and the deal team from your advisor. During the May edition of Tech M&A Monthly, Corum Group draws back the curtain on their launch meeting process, built from the largest body of tech M&A in history. Who should be in the room? What needs to be covered? What should you leave out? How do you make sure to get the most value from this unique opportunity? Tune in Thursday, May 17, as Corum’s global team of senior dealmakers outlines the best way to kick off the most important transaction of your life.
Whether just considering the M&A process or actively preparing your company for sale, you want to understand the process from the perspective of those who have been there before. In Part 3 of Corum’s Annual Tech M&A Report, hear from an international panel of founders, CEOs and owners who recently sold their tech firms. What surprised them? What did they learn? What would they do differently? How did they ensure that they achieved an optimal outcome through the process?
Tech M&A Monthly: What Happens If You Don’t Sell?Corum Group
Not every company sells right away—deals fall apart, valuations don’t meet expectations, or the market just isn’t ready. What do you do now?
80% of self-managed M&A efforts initially end in failure. However, if you’ve run the process right, this may be a golden opportunity to actually increase the value you finally get for your company.
Tech M&A Monthly: Megadebt and Hypervaluations - June 2013Corum Group
June's Tech M&A Monthly webcast will examine two of the trends helping drive today's very hot tech M&A market. Debt is cheap and companies are taking advantage, including Apple's record $17B debt issue recently. We'll hear more about how this "megadebt" trend is shaping M&A.
Meanwhile, companies like Tumblr, Waze and Eloqua are commanding huge valuations, and buyers as varied as Yahoo, Facebook and Oracle are paying a premium when they have their sights set on an acquisition. What's driving these "hypervaluations" and how can you take advantage?
All this, plus our monthly look at the deals, trends and valuations across six software markets.
Tech M&A Monthly: Q1 Report 2017 – New Buyers and ValuationsCorum Group
How did the first quarter of 2017 go for Tech M&A? Did the megadeal mayhem of 2016 continue dominating deal flow? Are private equity deals still soaring? With the public markets hitting records, what do current valuation metrics for technology companies look like? Who are the new buyers making waves? Tune in Thursday, April 13 as Corum Group gives the most in-depth look available at Q1 of 2017 for mergers and acquisitions of software and related technology companies. We’ll look at the key deals, trends and valuations for all six technology sectors and 30 subsectors, with a special report on new buyer strategies. All of this comes with a special focus on what it all means for technology executives considering whether this is the right time to take their firms to market.
This is the annual forecast created by Corum Group that dives into the various sectors and sub-sectors of Tech, with a specific focus on M&A, valuation arena, and what we will see this year.
2014 Tech M&A Monthly - New World of BuyersCorum Group
The world of buyers for technology companies is very different than it was just a few years ago. The rise of Private Equity, a new generation of international buyers, disruptive change creating new tech giants and destabilizing old ones – today, your ultimate buyer may be someone you've never heard of, in a country you've never visited. In the August edition of the Tech M&A Monthly webcast, join Corum Group dealmakers and experts as they examine the new classes of buyers that you need to be aware of as you consider your company’s future. Plus the key deals trends and valuations of the last month, and a special report on M&A in the gaming sector.
2015 Tech M&A - 1H: 2015 MidYear ReportCorum Group
July 16, join us as we mark the halfway-point of 2015--another remarkable year for tech M&A, as booming public markets, resurgent IPOs, record-setting buyer cash and disruptive technologies continue to drive deal flow. We’ll look back at the notable deals, high valuations and key trends in all six tech markets and 29 subsectors. We'll also look again at the Top 10 Disruptive Technology Trends for 2015, looking at their impact so far this year. Plus, deal reports from the M&A trenches on transactions just closed in the insurance and government verticals.
SPi Global is a global BPO solutions company with over 15,000 employees across 26 sites. It has over 300 clients in various industries including publishing, healthcare, legal, automotive, and financial services. Some of its services include content production, editorial solutions, eContent solutions, database solutions, and customer support knowledge solutions. It has received several awards for its services and is ranked as the #1 provider for print and publishing outsourcing.
Digitzs provides a white label payments solution that makes payments painless and profitable for apps, marketplaces, and platforms. Their solution allows user merchant accounts to be onboarded instantly without leaving the platform site. Digitzs collects the platform's fees at no cost and pays the platform lifetime commissions on the fees collected. They have raised $2.4 million so far and are projecting $1 billion in payments processed in 2017 and $3 billion in 2018. Digitzs is raising a $3 million Series A round to further develop their technology and integrate with more platforms.
E Commerce Panel New Generation E CommerceDave Liu
The document summarizes a panel discussion on new frontiers in e-commerce. The panelists represent companies in business-to-business user generated commerce, digital goods distribution, and online document printing and distribution. One panelist discusses their company that streamlines the used vehicle resale process. Another discusses their company that provides an online virtual world where users can purchase virtual goods using real or earned currency.
Leveraging Your Social Media Assets Inside the CompanySocial Media Today
The document summarizes a webcast about leveraging social media assets within a company. It introduces the speakers and discusses how tagging content can save companies time and money. It also notes some common rationales for blocking social media and ways companies can mine employees' social networks. Finally, it provides contact information for one of the speakers.
An earlier Enterprise 2.0 presentation we gave about the opportunity of Enterprise 2.0 for Australia, it';s been updated with 2009 content, and 2010 slideshow.
Enterprise 2.0 and the underlying models are still an as yet unrealised communication opportunity for innovation.
Loans and Debts and Data: Data Exploration Corner slidesmark madsen
The document discusses whether the worst of the housing crisis is over. It notes some say conditions have improved but questions whether the data truly shows this or just that things are better than they were. The document then examines various housing and economic data measures over time to analyze trends, but notes there are limitations and quality issues with the available data that make definitive conclusions difficult. It questions whether different data sources like foreclosures, bankruptcies, and unemployment truly correlate and reflect the same trends. In the end, it concludes there are more open questions than answers about the housing market due to challenges with the underlying data.
The document discusses the non-profit software market, which is valued at $8 billion globally and growing at a 10% compound annual growth rate. It is an attractive market due to the recurring revenue SaaS business model and opportunities for cross-selling additional products. While there is one large player, the market remains fragmented with room for additional large competitors. Growth drivers include the transition from on-premise to cloud-based software and expanding into adjacent verticals and geographies.
Tech M&A Monthly - Q3 Quarterly Report October 2013Corum Group
Q3 2013 came to a remarkable close in the tech M&A arena--this report included our in depth quarterly report on the deals, trends and valuations, plus what it all means to technology CEOs, owners and investors considering their M&A options.
In addition to a detailed breakdown of the six software and related technology markets, and the 26 subsectors, the Corum team discussed the latest news from the world of tech & finance, with a look at unusual deals--with Blackberry acquired by an insurance company, we look at other buyers you might not think of; the JOBS Act--with Twitter taking advantage and some of the fundraising provisions coming into effect, how is the impact on tech M&A shaping up? And, finally, Corum President Nat Burgess provides his thoughts on why he thinks this that Tech M&A is currently a seller's market.
Similar to Tech M&A Monthly: 10 Keys to a Valuable Valuation (20)
What happened in Tech M&A during the first quarter of 2019? How has the rapid market recovery impacted valuations? Are private equity deals still soaring? Who are the new buyers making waves? Listen in as Corum Group gives the most in-depth look available at Q1 of 2019 for mergers and across all six technology sectors and 30 subsectors. Plus, we’ll get a special report on succession planning for tech company owners and executives, and a report from a special series of M&A conferences across Europe.
With market uncertainty and volatility dominating finance headlines, but tech M&A still breaking records amidst strong buyer demand and high valuations, what does 2019 hold for your company? As you build out your strategic plans for the New Year, join the largest tech M&A event of the year, as Corum Group looks back at last year, and ahead to the year to come.
Join us for predictions about the M&A market for 2019, plus a scorecard from 2018; the new Top 10 Disruptive Technology Trends driving deals in 2019; deals, trends and valuations across all six technology sectors and 30 subsectors; and our annual Luminary Panel featuring SAP, Salesforce, IBM and more. Don’t miss the premier event each year for software company owners and CEOs.
Tech M&A Monthly: 6 Merger Myth and MisconceptionsCorum Group
Strong public markets and high demand for disruptive tech are continuing to drive high valuations for technology companies. Corum Group’s research team looked at the key deals, trends and valuations across all six tech sectors and 30 subsectors. What sectors are getting the highest valuations? What are acquirers after? How long will these good times continue? Corum’s senior dealmakers will also address six merger myths & misconceptions that might be keeping your company from taking advantage of today’s hot M&A market.
Tech M&A Monthly: When You are ApproachedCorum Group
In today’s competitive Tech M&A environment, more and more firms were being approached by potential acquirers. Here at Corum, we are seeing more and more companies coming to us after they have been approached, but only those who manage discussions properly will get a deal done. In this webinar, Corum’s global team of senior dealmakers will address the question, “What do I do when I've been approached?”, sharing 13 tips to turn that approach into an optimal outcome—and avoid the mistakes that can turn an approach into a disaster for your company.
Getting approached is a double edged sword - it means a buyer is interested, but it means they may also be interested in your competitors. We looked at the missteps sellers often make when they're first approached, best practices for dealing with that first inquiry, and the methods for leveraging a single buyer’s approach into an auction environment that will ultimately give you the maximum value and best structure.
Corum Group Tech M&A Monthly - April 2018 - Top Acquirer ProfileCorum Group
April's edition of Tech M&A Monthly, featuring an in-depth look at M&A in Q1 2018 and an interview with 2017 Top Acquirer Constellation Software's COO and Volaris CEO, Mark Miller
Strong public markets and high demand for disruptive tech are continuing to drive high valuations for technology companies. Join Corum Group’s research team for a look at the key deals, trends and valuations across all six tech sectors and 30 subsectors. What sectors are getting the highest valuations? What are acquirers after? How long will these good times continue? We’ll address all these questions and more—plus, a look at key questions of succession planning. What should you be doing before, during and after a tech M&A transaction to ensure that the value you have created goes where it is supposed to?
Tech M&A Monthly: 10 Rules for Writing an Executive Summary That SellsCorum Group
You've built a uniquely valuable asset in your software company, but how do you convey that unique value to a buyer? How do you get a buyer to seriously consider acquiring your company? In today's fast-paced world of tech M&A, buyers don't have time for drawn out "books" of information. The best tool for reaching them is a clear, succinct Executive Summary document that clearly outlines the opportunity created by acquiring your company.
But how do you write such a document? What are the pitfalls to avoid? How do you balance a need for brevity with a description of your complex technology and company? Join Corum dealmakers on September 14 to learn the 10 Rules for Writing an Executive Summary That Sells.
Tech M&A Monthly: Misconceptions Killing Deals TodayCorum Group
In today’s tech M&A market, it’s easy to find advice on how and when to sell a technology company. Unfortunately, a lot of it is wrong. And not simply wrong, but potentially damaging, both to your M&A prospects and potentially to your company’s future. In the May edition of Tech M&A Monthly, Corum’s global team of dealmakers will examine a multitude of misconceptions that can put your company’s value at risk, kill deals, and even destroy companies. Plus, news from the M&A trenches, plus key deals, trends and valuations from the last month.
The pace of technological innovation has never been faster, and it’s forcing tech and non-tech companies of all sizes to make acquisitions to keep up. Add to that the record levels of buyer cash, strong public markets and increasingly active and strategic Private Equity firms, and you have the recipe for a remarkable 2017.
To get all the tech M&A details for the year ahead and the year just past, join Corum Group and hundreds of technology CEOs globally for the largest tech M&A event of the year – Forecast 2017, the Global Tech M&A Report. We’ll look at the Top 10 Disruptive Technology trends that will drive deals in 2017, give 2017 predictions, survey how our 2016 predictions turned out, unveil the annual Corum Index of Tech M&A, and take a look at valuation metrics across the six technology sectors and 30 subsectors. Finally, the highlight of the event is our annual Luminary panel featuring SAP, Salesforce and more. You don’t want to miss the premier event each year for software company owners and CEOs.
Tech M&A Monthly: 12 Deal Structure Tips to Maximize Value + Trump and Tech M&ACorum Group
The booming public markets, rising valuations and increasingly active Private Equity firms are helping drive an increase in more complex tech M&A deals--stock, earnouts, debt and other structural methods are being used to bridge gaps and get deals done. But more complexity can mean more risk if you aren't properly prepared. November 10, Corum's global team of senior dealmakers will share 12 deal structure tips to help you achieve an optimal outcome when you sell your technology company. Plus a special report - Drumpf and M&A: What does this mean for you?
The third quarter of 2016 has been a rocket ride in tech M&A, with public markets back to hitting records and a flurry of tech megadeals that have shaken up the tech landscape. What does all this activity mean for your company? With tech M&A volume and valuations both high, you’ll want to understand what’s happening in your sector in order to best prepare your company for whatever comes next. There’s no better way to start that process than to tune in for this 30 minute look at the key deals, trends and valuations for all six technology sectors and 30 subsectors from the tech industry’s premier M&A research team.
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
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Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
2. 2
A leader in the software industry, Bruce has founded or owned four software companies, including the largest vertical
market software company, AMI, an Inc. 500 firm rated by IDC as the fastest growing computer-related company in the
world.
He has served on advisory boards for Microsoft, IBM, DEC, Comdex and Apple, and as board member/founding
investor in some of the most innovative firms in their field, including Blue Coat, Bright Star and Sabaki. Past advisor to
two governors and a senator, a board member of the Washington Technology Center, and founder of the WTIA, the
nation’s most active regional technology trade association.
He worked with the Canadian government to found SoftWorld, and he was recently chosen as one of the 200 most
influential individuals in the IT community in Europe. He was also the only American juror for the recent Tornado 100
Awards given to Europe’s top technology firms
A graduate with Distinction from Harvard Business School, Bruce has written three books on business models for
success, including Power Planning. He is a frequent lecturer and author.
Welcome
Bruce Milne
CEO
Corum Group Ltd.
3. 3
Timothy joined Corum in 2011, and oversees the company’s marketing efforts globally from the headquarters near
Seattle. Chief among these is Corum's extensive conference schedule, “Selling Up, Selling Out,” the Merge Briefing,
the Tech M&A Monthly webcast and Corum's platinum sponsorship of the World Financial Symposiums' live events
and Market Spotlight series. Through these events, Corum Group serves as the world’s leading educator in
technology mergers and acquisitions.
Prior to joining Corum, Timothy served as marketing and product manager for GIS software startup Depiction, Inc.,
and previously worked in marketing for VizX Labs, a pioneering SaaS startup delivering DNA analysis tools. In
addition to marketing for software startups, Tim has worked for a US Senate campaign and taught science in Rio de
Janeiro.
Timothy graduated Magna Cum Laude from Bethel University in St. Paul, Minnesota, with degrees in History and
Biology.
Moderator
Timothy Goddard
EVP, Marketing
Corum Group Ltd.
4. 4
Agenda
Welcome
AI Market Spotlight Report
Upcoming Events
December 2017 Research Report
10 Keys to a Valuable Valuation
Special Report: Quality of Revenue
Q&A
8. 8
Corum Research Report
Elon Gasper
EVP, Research
Yasmin Khodamoradi
Director, Valuation Services
Patrick Cunningham
Analyst
Becky Hill
Analyst
9. 9
Public Markets 2017
Jan Feb Mar Apr May Jun Jul Aug Sep Oct
42%
23%
27%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Weekly Percentage Change
S&P TECH Dow Jones NASDAQ
Nov
USA YTD
S&P Tech 42%
NASDAQ 27%
Dow Jones 23%
Asia YTD
HANG SENG 30%
Nikkei 19%
SSE Composite 6%
Europe YTD
DAX 15%
CAC 40 11%
FTSE 100 4%
Dec
10. 10
*Since the Great Depression. Source: S&P Capital IQ, The Associated Press
Macro view: 4 Longest Bull Market Runs
Start End Years
Dotcom Bubble Oct. 11, 1990 Mar. 24, 2000 9.5
Current Mar. 9, 2009 ? 8.8
Postwar Boom Jun. 13, 1949 Aug. 2, 1956 7.1
That 70s Inflation Oct. 3, 1974 Nov. 28, 1980 6.2
1
2
3
4
11. 11
Corum Index
Market
Transactions
Nov. 2017Nov. 2016
246 246
Mega Deals
8 5
Largest Deal $8.0B $6.0B
Pipeline
Private Equity Deals
23 30
VC Backed Exits
4661
Attributes
37%
Cross Border
Transactions 37%
Start-Up
Acquisitions 13%13%
15 yrs16 yrs
Average Life
of Target
Nov. 2016 Nov. 2017
Nov. 2016 Nov. 2017
0%
30%
25%
38%
25%
14. 14
2017 Mega Deals – YTD
CONSUMER
$1B
$1.0B
$18B
IT SERVICES
HR BPO assets
Healthcare business
$1.3B
$2.6B
$2.0B
$1.6B
$2.0B
$1.0B
$2.8B
$4.3B
HORIZONTAL
$20B
$1.4B
$1.0B
$5.3B
$10.4B
$1.7B
$13B
INTERNET
$1.9B
$3.4B
$2.4B
$1.6B
$2.5B
$1.3B
INFRASTRUCTURE
$3.7B
$1.2B
$1.1B
$6.0B
$21B
$1.3B
$1.8B
$1.1B
$1.6B
$1.6B
$1.6B
$59B
VERTICAL
$15.3B
$2.0B
$3.6B
$2.8B
$2.3B
$3.9B
$1.2B
$1.4B
$1.3B
$1.0B
$1.1B
$23B
Target: Cavium [USA]
Acquirer: Marvell Technology Group [USA]
Transaction Value: $6B (6.8x EV/Sales)
- Semiconductor processors for intelligent and secure networks
Sold to
15. 15
Public Valuation Multiples
4.1x
25.8x
EV
Sales
Corum Analysis
EV
EBITDA
A quick drop back from
its high in October…
…as the market
returns to its basic
preference for profits
Nov. 2017Since Q3
Internet Application Software Market
16. 16
4.1x
25.8x
EV
Sales
Corum Analysis
EV
EBITDA
A quick drop back
from its high in
October…
…as the market
returns to its basic
preference for profits
Nov. 2017Since Q3
Internet Application Software Market
Deal Spotlights: European Travel Sites
Sold to
Target: Accomable [United Kingdom]
Acquirer: Airbnb [USA]
- Solutions and services to help people with disabilities find accessible properties around the world
Sold to
Target: Bravometa CH [dba hotelscan] [Switzerland]
Acquirer: lastminute.com [Bravofly Rumbo] [United Kingdom]
- Search engine to compare and book all types of accommodations
Sold to
Target: Atcore Technology Group [MBO] [United Kingdom]
Acquirer: Inflexion Private Equity [United Kingdom]
- Reservation and e-commerce software solutions
Sold to
Target: e-Travel [Greece]
Acquirer: eTRAVELi Holding [CVC Capital Partners] [Sweden]
- E-commerce company specialized on online travel
17. 17
4.1x
25.8x
EV
Sales
Corum Analysis
EV
EBITDA
A quick drop back
from its high in
October…
…as the market
returns to its basic
preference for profits
Nov. 2017Since Q3
Internet Application Software Market
Deal Spotlights: Ctrip Acquisitions
Target: Gogobot [dba Trip.com] [United Kingdom]
Acquirer: Ctrip.com International [China]
- Travel services including accommodation reservation, transportation ticketing etc.
Sold to
Target: Twizoo [United Kingdom]
Acquirer: Skyscanner Holdings [Ctrip.com International] [Scotland]
- Restaurant recommendation application that uses Tweets as customer reviews
Sold to
18. 18
4.1x
25.8x
EV
Sales
Corum Analysis
EV
EBITDA
A quick drop back
from its high in
October…
…as the market
returns to its basic
preference for profits
Nov. 2017Since Q3
Internet Application Software Market
Deal Spotlights: Social Networks
Target: Musical.ly [USA]
Acquirer: Toutiao [Beijing Bytedance Technology] [China]
Transaction Value: $800M
- Mobile app enabling personal lip-syncing videos
Target: Meetup [USA]
Acquirer: WeWork [USA]
Transaction Value: $200M
- Online social networking service to organize and/or join offline group meetings
- Facilitates WeWork’s transformation into a “physical social network”
Sold to
Sold to
19. 19
IT Services Software Market
1.3x
12.3x
Public Valuation Multiples
EV
Sales
Corum Analysis
EV
EBITDA
…both metrics may
have reached the
services ceiling
Holding just below
midyear’s all-time
records…
Since Q3 Nov. 2017
20. 20
2017 Mega Deals – YTD
CONSUMER
$1B
$1.0B
$18B
IT SERVICES
HR BPO assets
Healthcare business
$1.3B
$2.6B
$2.0B
$1.6B
$2.0B
$1.0B
$2.8B
$4.3B
HORIZONTAL
$20B
$1.4B
$1.0B
$5.3B
$10.4B
$1.7B
$13B
INTERNET
$1.9B
$3.4B
$2.4B
$1.6B
$2.5B
$1.3B
INFRASTRUCTURE
$3.7B
$1.2B
$1.1B
$6.0B
$21B
$1.3B
$1.8B
$1.1B
$1.6B
$1.6B
$1.6B
$59B
VERTICAL
$15.3B
$2.0B
$3.6B
$2.8B
$2.3B
$3.9B
$1.2B
$1.4B
$1.3B
$1.0B
$1.1B
$23B
Target: Aricent [KKR] [USA]
Acquirer: Altran Technologies [France]
Transaction Value: $2B (2.9x EV/Sales)
- System integration, software development and engineering services
Sold to
21. 21
IT Services Software Market
1.3x
12.3x
Deal Spotlights: Security Integration
EV
Sales
Corum Analysis
EV
EBITDA
…both metrics may
have reached the
services ceiling
Holding just below
midyear’s all-time
records…
Since Q3 Nov. 2017
Target: Decision Lab [USA]
Acquirer: Optiv Security [KKR] [USA]
- Big data, automation and orchestration services
Sold to
Sold to
Target: Conexsys [Canada]
Acquirer: Optiv Security [KKR] [USA]
- Security integration and managed solutions
22. 22
12.3x
IT Services Software Market
1.3x
Deal Spotlight: Systems Integration for Financial Services
EV
Sales
Corum Analysis
EV
EBITDA
…both metrics may
have reached the
services ceiling
Holding just below
midyear’s all-time
records…
Since Q3 Nov. 2017
Sold to
Target: Syncordis [Luxembourg]
Acquirer: Larsen & Toubro Infotech [India]
Transaction Value: $33.13M
- IT consulting services for the banking and financial industry
- Expands LTI’s banking implementation capabilities
23. 23
IT Services Software Market
1.3x
12.3x
Deal Spotlights: ERP System Integration
EV
Sales
Corum Analysis
EV
EBITDA
…both metrics may
have reached the
services ceiling
Holding just below
midyear’s all-time
records…
Since Q3 Nov. 2017
Target: NeoSystems [USA]
Acquirer: Novume Solutions [USA]
Transaction Value: $22.2M
- ERP and BI integration services for businesses, government and non-profits
Sold to
Sold to
Target: Anisa Consolidated Holdings [United Kingdom]
Acquirer: Sanderson Group [United Kingdom]
Transaction Value: $17.2M
- SCM and ERP for manufacturing, logistics, retail and wholesale distribution
24. 24
IT Services Software Market
1.3x
12.3x
Deal Spotlights: Digital Marketing Services
EV
Sales
Corum Analysis
EV
EBITDA
…both metrics may
have reached the
services ceiling
Holding just below
midyear’s all-time
records…
Since Q3 Nov. 2017
Target: Oxyma Group [Netherlands]
Acquirer: Dentsu Aegis Network [Dentsu] [UK]
- Omni-channel and loyalty-based marketing services in the Netherlands & Dubai
Sold to
Sold to
Target: Moku Collective [USA]
Acquirer: DEG [USA]
- Digital marketing and IT consulting for retail and consumer goods industries
25. 25
IT Services Software Market
1.3x
12.3x
Deal Spotlights: Digital Marketing Services
EV
Sales
Corum Analysis
EV
EBITDA
…both metrics may
have reached the
services ceiling
Holding just below
midyear’s all-time
records…
Since Q3 Nov. 2017
Sold to
Target: Atom42 [United Kingdom]
Acquirer: Cheil Worldwide [South Korea]
- Digital marketing, web design, and consulting services
Sold to
Target: Obscura Digital [USA]
Acquirer: The Madison Square Garden Company [USA]
- Designs and develops custom video content and large-scale interactive projections
26. 26
2.9x
16.7x
Public Valuation Multiples
EV
Sales
Corum Analysis
EV
EBITDA
Consumer Software Market
Relatively consistent
since the summer, for
such a volatile market
Also back to summer
levels, though by a
more circuitous route
Since Q3 Nov. 2017
27. 27
2017 Mega Deals – YTD
CONSUMER
$1B
$1.0B
$18B
IT SERVICES
HR BPO assets
Healthcare business
$1.3B
$2.6B
$2.0B
$1.6B
$2.0B
$1.0B
$2.8B
$4.3B
HORIZONTAL
$20B
$1.4B
$1.0B
$5.3B
$10.4B
$1.7B
$13B
INTERNET
$1.9B
$3.4B
$2.4B
$1.6B
$2.5B
$1.3B
INFRASTRUCTURE
$3.7B
$1.2B
$1.1B
$6.0B
$21B
$1.3B
$1.8B
$1.1B
$1.6B
$1.6B
$1.6B
$59B
VERTICAL
$15.3B
$2.0B
$3.6B
$2.8B
$2.3B
$3.9B
$1.2B
$1.4B
$1.3B
$1.0B
$1.1B
$23B
Target: Big Fish Games [USA]
Acquirer: Aristocrat Leisure [Australia]
Transaction Value: $990M (2.2x EV/Sales and 11.9x EBITDA)
- Developer and distributor of casual games
Sold to
28. 28
2.9x
16.7x
Deal Spotlights: Core Gaming
EV
Sales
Corum Analysis
EV
EBITDA
Consumer Software Market
Relatively consistent
since the summer, for
such a volatile market
Also back to summer
levels, though by a
more circuitous route
Since Q3 Nov. 2017
Target: Experiment 101 [Sweden]
Acquirer: THQ Nordic [USA]
Transaction Value: $9M
- Maker of post-apocalyptic kung-fu fable action RPG, Biomutant
Target: Eden Games [Infogrames Entertainment S.A.] [France]
Acquirer: Millennial Esports Corporation [Canada]
Transaction Value: $12M
- Racing game development studio
Sold to
Sold to
29. 29
2.9x
16.7x
Deal Spotlight: Core Gaming
EV
Sales
Corum Analysis
EV
EBITDA
Consumer Software Market
Relatively consistent
since the summer, for
such a volatile market
Also back to summer
levels, though by a
more circuitous route
Since Q3 Nov. 2017
Target: Respawn Entertainment [USA]
Acquirer: Electronic Arts [USA]
Transaction Value: $315M
- Developer of fast-paced blockbuster FPS Titanfall
- EA outbid Nexon, co-publisher of Titanfall
Sold to
30. 30
2.9x
16.7x
Deal Spotlights: Casual Gaming
EV
Sales
Corum Analysis
EV
EBITDA
Consumer Software Market
Relatively consistent
since the summer, for
such a volatile market
Also back to summer
levels, though by a
more circuitous route
Since Q3 Nov. 2017
Target: Pixelberry Studios [USA]
Acquirer: Nexon Co [Japan]
- Mobile game development studio aiming to educate players about the effects of
cyberbullying and eating disorders
Sold to
Sold to
Target: Peak Games (mobile card game assets) [Turkey]
Acquirer: Zynga [USA]
Transaction Value: $100M
- Сommunity-based multiplayer synchronous mobile games
- Enhances Zynga’s card-based audience
31. 31
2.9x
16.7x
Deal Spotlight: Entertainment
EV
Sales
Corum Analysis
EV
EBITDA
Consumer Software Market
Relatively consistent
since the summer, for
such a volatile market
Also back to summer
levels, though by a
more circuitous route
Since Q3 Nov. 2017
Sold to
Target: Shazam Entertainment [United Kingdom]
Acquirer: Apple [USA]
Transaction value: $400M (reported)
- Music recognition service
- Shazam tech fits into “For You” section of Apple Music
- One of the largest Apple’s acquisitions, after buying Beats for $3B in 2014
32. 32
Corum Research Report
Elon Gasper
EVP, Research
Yasmin Khodamoradi
Director, Valuation Services
Patrick Cunningham
Analyst
Becky Hill
Analyst
34. 34
A leader in the software industry, Bruce has founded or owned four software companies, including the largest vertical
market software company, AMI, an Inc. 500 firm rated by IDC as the fastest growing computer-related company in the
world.
He has served on advisory boards for Microsoft, IBM, DEC, Comdex and Apple, and as board member/founding
investor in some of the most innovative firms in their field, including Blue Coat, Bright Star and Sabaki. Past advisor to
two governors and a senator, a board member of the Washington Technology Center, and founder of the WTIA, the
nation’s most active regional technology trade association.
He worked with the Canadian government to found SoftWorld, and he was recently chosen as one of the 200 most
influential individuals in the IT community in Europe. He was also the only American juror for the recent Tornado 100
Awards given to Europe’s top technology firms
A graduate with Distinction from Harvard Business School, Bruce has written three books on business models for
success, including Power Planning. He is a frequent lecturer and author.
Bruce Milne
CEO
Corum Group Ltd.
10 Keys to a Valuable Valuation
35. 35
Libby joined Corum in late 2017 as a Marketing Assistant. Her responsibilities cover event coordination and follow-up
marketing, social media, market spotlights, and as-needed website maintenance. Prior to joining Corum, Libby was in
Shanghai, where she held several analysis and strategy roles in advertising agencies.
Libby speaks English, French, Mandarin, and Arabic. She earned her BSBA in Marketing from the University of
Pittsburgh, where she also completed certificates in Arabic Language & Linguistics and Global Studies: Changing
Identities in the Middle East.
10 Keys to a Valuable Valuation:
Software Company Difference
Libby Chick
Marketing Assistant
Corum Group Ltd.
36. 36
Software Companies Differences
Traditional Family Firm Software Company
Avg. Age of Company 30+ years 8 years
Avg. Age of CEO 60+ years 38
Reasons for Selling No Proper Heir, Retiring Liquidity, Timing
Value Tangible Assets Intangible Assets
Margins Low High
Sales Regional Nat’l/Int’l
Technology Changes Slow Rapid
Competition Well Known Diverse
Entry Barriers High Low
37. 37
Traditional Family Firm Software Company
Avg. Employee Age 40+ 30
Co. Growth Rate Minimal Rapid
Credit
Bank Lines on Assets,
Invent., A/R
Credit Card
Mgmt. Experience High Minimal
Primary Advertising Yellow Pages, Local Papers Constantly Evolving
Revenue Stream Predictable Volatile
Valuation Methods **Traditional *Innovative
Software Companies Differences
38. 38
Traditional Enterprise Vs. Software
Typical Traditional Business-
Costs rise with revenue
Typical Software Company-
No Variable Costs
VARIABLE COSTS
Software companies are more valuable
39. 39
Evelyn Chen joined Corum in 2017 as a Marketing Assistant. Her primary role is to support a series
of educational live conferences and monthly webcasts hosted by Corum.
Prior to joining Corum, Evelyn worked in the marketing departments at Firstrade Securities in New
York and at Huawei Technologies in China. She received a Master’s degree in Education from the
University of Edinburgh and a Bachelor’s degree in Economics from Xiamen University.
10 Keys to a Valuable Valuation:
Type of Valuation?
Evelyn Chen
Marketing Assistant
Corum Group Ltd.
40. 40
Yasmin Khodamoradi joined Corum Group in 2015, providing research on valuations and assisting with sell-side M&A
transactions. As Director of Valuation Services, she has helped dozens of tech companies determine their value in the
market, with a focus on enterprise software and SaaS, IT services, and vertical sector solutions. Previously, she
worked for a fintech startup and a global angel investment firm.
Yasmin graduated from the Foster School of Business at the University of Washington, specializing in Finance and
International Business.
10 Keys to a Valuable Valuation:
Top 10 Valuation Methods
Yasmin Khodamoradi
Director, Valuation Services
Corum Group Ltd.
41. 41
10 Ways to Value a Company
Sales multiple – Public peer group
Earnings multiple – Public peer group
Comparable M&A transaction analysis
Discounted cash flow (DCF)
Replacement cost analysis
Dollars per R&D Developer
Internal rate of return (IRR)
Liquidation value
Book value
Internal Transaction Price
42. 42
Elizabeth joined Corum in 2017 as a Marketing Assistant. Her current focus is written content, working on press
releases and material for the website.
Before joining Corum, Elizabeth worked as a freelancer. She did a bit of travel while still providing writing, editing, and
proofreading services to clients around the globe. Her projects ranged from helping create and improve websites to
editing full-length novels.
Elizabeth graduated from Western Washington University in 2016 with a B.A. in English Creative Writing and a minor
in Technical Writing.
10 Keys to a Valuable Valuation:
Valuation Presentation
Elizabeth Gotski
Marketing Assistant
Corum Group Ltd.
43. 43
10 Keys to a Valuable Valuation:
Financials Required
Jeff Brown
Senior Vice President
Corum Group Ltd.
Jeff joined Corum in 2007 as Regional Director in Houston, Texas. He has over 25 years of entrepreneurial and consulting experience
building software and business services companies. He specializes in information technology for engineering, scientific and business
applications. He also understands the energy industry and multinational operations.
Jeff helped form and was President of Severn Trent Worksuite, a FTSE 100 subsidiary, which became the leading provider of enterprise
and wireless workflow management software. Jeff was Vice President at IntelliGIS, a pioneer in geographic information systems and
wireless computing. Additionally, he launched Western Hemisphere operations for Simon Petroleum Technology, a provider of
petroleum reservoir management software, and was a member of the initial management team at GeoQuest Systems, which became
the leader in petroleum decision support systems.
Jeff began his career on the research staff at Columbia University and is a published author. He holds a degree in Geology from the
State University of NY.
45. 45
Amanda joined Corum in 2012 as a marketing assistant and transferred to the research department in 2016 after
serving 2 years as the senior marketing coordinator. As Senior Analyst, she helps to develop exit strategies and
identify potential acquirers for Corum’s clients.
Prior to joining Corum, Amanda served as an intern at Calypso Medical Technologies (later acquired by Varian
Medical Systems) in Seattle. Amanda graduated Cum Laude from Gonzaga University with degrees in marketing and
finance.
10 Keys to a Valuable Valuation:
Public Company Multiples
Amanda Tallman
Senior Analyst
Corum Group Ltd.
46. 46
Example Public Valuation Comparables
Trailing 12-Month Multiples Forward Multiples
Ticker Company Sales Earnings Sales Earnings
BMC BMC 3.72 x 11.36 x 3.41 x 14.96
CA CA Technologies 2.61 x 7.12 x 2.46 x 12.05
CVG Convergys 0.66 x 12.18 x 0.78 x 11.59
EGAN eGain Communications 0.95 x 5.86 x N/A N/A
ININ Interactive Intelligence 2.89 x 18.90 x 2.30 x 29.23
NICE NICE Systems 2.79 x 18.72 x 2.43 x 17.52
PEGA Pegasystems 3.97 x 41.23 x 2.98 x 28.35
RNOW RightNow Technologies 4.08 x 42.95 x 3.34 x 41.97
SPRT Support.com 6.25 x nm 3.56 x nm
SYMC Symantec 2.32 x 7.97 x 2.16 x 11.29
VRNT Verint Systems Inc 2.40 x 20.38 x 2.21 x 13.43
Median Multiple 2.79 x 15.45 x 2.44 x 14.96 x
After 25% Liquidity Discount 2.10 x 11.59 x 1.83 x 11.22 x
Applied Financial Metric $4,300,000 $900,000 $7,500,000 $1,742,000
Implied Value $9,000,000 $10,400,000 $13,725,000 $19,550,000
*nm (not meaningful) for multiples over 50x or negative
(in $millions)
47. 47
Patrick Cunningham joined Corum in 2017 as a Junior Research Analyst. He supports the Director of
Research and the rest of the Corum team through market research and potential buyer preparation.
Patrick received a Bachelor’s degree in Mathematics with a minor in Music from the University of
Washington.
10 Keys to a Valuable Valuation:
Comparable Transactions
Patrick Cunningham
Junior Research Analyst
Corum Group Ltd.
48. 48
Example Private M&A Comparables
Seller Buyer Deal Value
Target's
Revenue
Buyer Seller
Date
Announced
Purchase
Price
Seller Revenue
TTM
EV/S
Multiple
Consona Corp. [fka Made2Manage Systems] SupportSoft Inc. (Enterprise business)
Apr-09
$20.0 $42.1 0.48 x
SupportSoft's enterprise business, which provides enterprise technical support software and services to digital service
providers, corporate IT departments and managed service providers globally.
Alcatel-Lucent Motive Communications, Inc. Jun-08 $67.8 $64.4 1.05 x
Provides Interent and IP-based cable television service management software to telecommunications service providers.
Oracle Corporation Art Technology Group, Inc.
Nov-10 $1,000.0 $193.9 5.16 xProvides a broad range of e-commerce software and software as a service (SaaS) for businesses globally. Software
provides features for online payments, merchandising, email marketing, business analytics, content management and
customer service automation.
Pitney Bowes Inc. Portrait Software Jun-10 $64.1 $23.3 2.75 x
Provides customer interaction management, analytics and optimization software for businesses globally.
Pegasystems Inc. Chordiant Software, Inc.
Mar-10 $161.5 $76.3 2.12 x
Provides customer experience management (CEM) software for the telecom, healthcare, insurance and financial services
sectors.
Enghouse Systems Limited Mettoni Group Ltd
Apr-10 $22.6 $25.7 0.88 xProvides, through its subsidiaries, call center management and customer care software and telecommunications expense
management software as a service (SaaS) for businesses globally. Software is compatible with Cisco, Nortel and Avaya
systems.
Support.com [fka SupportSoft Inc.] YourTechOnline.com Inc.
May-08 $2.7 $2.3 1.17 x
Provides technology support and repair services to customers in North America. Services are delivered remotely over the
Internet.
Convergys Corporation Intervoice, Inc. [Intervoice-Brite, Inc.] Jul-08 $335.0 $206.2 1.62 x
Provides interactive voice response and call center automation software to enterprises and telecommunications markets.
salesforce.com InStranet
Aug-08 $31.5 $15.0 2.10 xProvides contact center and sales content management software to businesses. Applications automate the dispersal of
customer service-focused information.Customers include 3M, AXA, BNP Paribas, France Telecom, Orange, SFR Cegetel,
Wanadoo and Zurich North
Art Technology Group, Inc. InstantService, Inc. Jan-10 $17.0 $5.5 3.09 x
Provides chat and email-based customer service automation and analytics software as a service (SaaS) for businesses.
OpSource, Inc. LeCayla Technologies Limited Feb-08 $1.0 $0.2 5.00 x
Provides customer metering, on-boarding and billing software for software as a service (SaaS) and web based
applications software providers. Software records and reports software usage allowing providers to offer SaaS on a pay
per use and metered basis.
Median Sales Multiple 2.10x
Implied Value $9,000,000
49. 49
Becky joined Corum in 2017 as a Research Analyst. Her primary role is to support the research department by
building buyer's lists for clients, as well as assist in writing executive summaries and synergy statements.
Prior to joining Corum, Becky conducted international market research for Darigold, focusing on growth opportunities
in Southeast Asia. She also taught French at Western Washington University, where she earned Bachelor’s degrees
in French and International Business.
10 Keys to a Valuable Valuation:
Discounted Cash Flow (DCF)
Becky Hill
Junior Research Analyst
Corum Group Ltd.
51. 51
Prior to rejoining Corum, Bruce was the Founding President and CEO of Invest Ottawa for 5 years. During that time he worked with over
1000 technology start-ups, raising over $300m in venture capital and debt, and created over 4,700 jobs. Prior to joining Invest Ottawa, he
was Chairman of the Ottawa Software Cluster for six years and Vice President in Canada for Corum Group.
Before that he held senior technology executive positions including six years as CEO with FreeBalance Inc. an enterprise software
company where he raised millions of dollars in venture capital and debt financing, and helped grow the company by 300 per cent while
moving into new international markets.
Bruce also had an extensive military career spanning 20 years’ service in the Royal Canadian Navy and Air Force. He graduated from the
Royal Military College and the Canadian Forces Command and Staff College. During his service Bruce managed the financial
management and accounting systems for the Department of National Defense worldwide. Before that, he was a Navy Diver and
underwent jet pilot training before retiring as a Commander in the Logistics Corp. Amongst other locations, he served at sea, in United
Nations peacekeeping missions and the Canadian Arctic.
In 2005, he was voted Canada’s Private Sector Technology Leader by the Canadian Advanced Technology Alliance and in 2016 he
received Canadian Community Innovation Leadership Award by the same organization.
10 Keys to a Valuable Valuation:
Replacement Value
Bruce Lazenby
Vice President
Corum Group Ltd.
52. 52
Jaber has over 25 years of experience in the technology sector. He recently was CEO of an IT services firm that he
acquired, restructured and sold. Jaber has also an M&A advisory experience in the Software and IT Services sectors.
He has also invested time and funds into start-ups and young companies over the recent years in a diverse range of
sectors. Earlier in his career, he worked as equity analyst covering Software stocks for ABN-AMRO, and held senior
positions in global accounts management within SAP. Jaber started his career as management consultant with KPMG
Peat Marwick.
Jaber holds an MSc in Computer Sciences form ENSEEIHT and an MBA from INSEAD. He has broad international
experience and is fluent in English, French and Spanish."
10 Keys to a Valuable Valuation:
Weighted Averages
Jaber Tannay
Vice President
Corum Group Intl.
53. 53
Weighted Valuations
Comparable Public Company Analysis
Financial
Metric
Applied
Multiple
Implied Value Weight Weighted Value
Trailing Multiples
Enterprise Value/TTM Revenue 4,300,000 2.10 x 9,000,000 8.3% 750,000
Trailing P/E 900,000 11.59 x 10,400,000 8.3% 870,000
Forward Multiples
Enterprise Value/FY Revenue 7,500,000 1.83 x 13,725,000 8.3% 1,100,000
Forward P/E - FY Earnings 1,742,000 11.22 x 19,550,000 8.3% 1,600,000
Total
Weighting of
Method
33.3% 4,320,000
Comparable Transaction Analysis 4,300,000 2.1 x 9,000,000 33.3% 3,000,000
Discounted Cash Flow Analysis 21,750,000 33.3% 7,200,000
Assumptions/Definitions:
EV = Enterprise Value (Market Capitalization + Debt - Cash)
Total Weighted Fair Market Value $14,500,000
54. 54
10 Keys to a Valuable Valuation:
Timing of Valuation Presentation
Joel Espelien
Vice President, Client Services
Corum Group Ltd.
Joel Espelien has worked in a number of roles over a twenty year career in the technology industry. Most recently Joel served as Senior
Advisor to Karmel Capital, where he advised on corporate spin-offs and M&A transactions, including the private-equity backed purchase of
DivX LLC from Rovi Corporation and subsequent sale to Neulion, Inc, as well as the successful spin-off of Snaptracs, Inc. and its Tagg
wireless pet tracking product from Qualcomm and the eventual two-stage sale to Whistle Labs and Mars Petcare. Joel has also served on
the boards of multiple venture-backed companies resulting in successful exits, including AI startup IQ Engines (acquired by Yahoo) and
IoT-for-AgTech pioneer 640 Labs (acquired by Monsanto/Climate Corporation). He has also written extensively for the Diffusion Group
where he published 14 industry research reports as well as a widely recognized weekly blog.
Previously, Joel was the Chief Business Officer, SVP of Strategy and General Counsel of PacketVideo. While at PacketVideo, Joel led
multiple buy-side acquisitions in the US and Europe, a groundbreaking technology partnership with Google that helped launch Android, a
private-equity backed MBO and ultimately the sale of the company to NTT DoCoMo.
Prior to PacketVideo, Joel was a corporate attorney at Cooley LLP in Palo Alto and San Diego, California. Joel is a member of the Bar in
both Washington and California. He holds a JD/LLM (International and Comparative Law) from Duke University and a BA from St. Olaf
College. Joel is fluent in Spanish and has done business throughout Spain and Latin America.
56. 56
Special Report: Quality of Revenue
Daniel Bernstein
Senior Vice President
Corum Group Ltd.
Daniel Bernstein has worked in a number of roles over a twenty year career in high technology, most recently as
the founder and CEO of Sandlot Games Corporation, a leading casual games publisher and developer. Having
sold Sandlot Games to Digital Chocolate in 2011, Daniel started a small games studio and a consulting practice
where he advises larger companies such as RealNetworks and smaller high growth businesses on product
development, strategic initiatives, and M&A opportunities.
Prior to Sandlot Games, Daniel Bernstein held director level positions in companies such as Wild Tangent and
Monolith. An accomplished composer, Daniel also writes music for most of the games he works on.
Daniel holds a BS in Computer Science and an MA in Music Composition from the University of Virginia.
57. 57
The Quality of Revenue Value Pyramid
Software, SaaS and
Subscriptions, multi-tenant
Software, SaaS and
Subscriptions, on-prem
Recurring Support
Maintenance
Perpetual Software Licenses
Service
Increasing
Value