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.
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: Forecast 2016 - Part 2: Private EquityCorum Group
Private Equity’s role in today's Tech M&A market continues to grow, with no upper bounds in sight. They are in the mix for on most deals, whether directly or through a portfolio company, going after both platforms companies and bolt-ons. And with trillions in uncommitted funds earmarked 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 continued to reach new highs as 2016 began, with disruptive technology, plus trillions of dollars of ready cash, driving both strategic and financial acquirers to buy software and related technology companies at a pace not seen in over a decade. What’s next for tech M&A? Join Corum Group and hundreds of technology CEOs globally for the largest tech M&A event of the year – Forecast 2016, the Global Tech M&A Report. Hear from Corum dealmakers globally, plus our panel of industry luminaries:
Peter Coffee, Salesforce, VP for Strategic Research
Mukund Mohan, Microsoft, Director, Strategy for Sales & Enterprise
Dr. Karl-Michael Popp, SAP, Senior Director of Corporate Development
Reese Jones, Silicon Valley Futurist & Singularity University Founder
Plus, a look at the 10 Disruptive Technology Trends for 2016, the annual Corum Index of Tech M&A and valuation metrics across the six technology sectors and 30 subsectors. You don’t want to miss the premier event each year for software company owners and CEOs.
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: 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.
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.
Supply Chain Management and Logistics technologies prove to be key weapons in the battle of retailers against Amazon and other e-commerce giants. With tools that facilitate ease of supplier relationships, forecasting, improved business processes and integration, SCM and Logistics software providers deliver value to their customers and are rewarded with growth outpacing the rest of the software sector, with valuations nearly 7x revenue.
Join WFS on October 1 as we examine how these trends impact M&A for SCM and Logistics technology providers. With the top 5 vendors accounting for less than half of the market, will we see a wave of consolidation for the smaller players and point solution providers? This complimentary webcast is for CEOs, investors, private equity firms and acquirers who want to enhance their strategic planning with a better understanding of the SCM and logistics landscape, and the current demand for supply chain and logistics technology in today’s M&A market.
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: Forecast 2016 - Part 2: Private EquityCorum Group
Private Equity’s role in today's Tech M&A market continues to grow, with no upper bounds in sight. They are in the mix for on most deals, whether directly or through a portfolio company, going after both platforms companies and bolt-ons. And with trillions in uncommitted funds earmarked 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 continued to reach new highs as 2016 began, with disruptive technology, plus trillions of dollars of ready cash, driving both strategic and financial acquirers to buy software and related technology companies at a pace not seen in over a decade. What’s next for tech M&A? Join Corum Group and hundreds of technology CEOs globally for the largest tech M&A event of the year – Forecast 2016, the Global Tech M&A Report. Hear from Corum dealmakers globally, plus our panel of industry luminaries:
Peter Coffee, Salesforce, VP for Strategic Research
Mukund Mohan, Microsoft, Director, Strategy for Sales & Enterprise
Dr. Karl-Michael Popp, SAP, Senior Director of Corporate Development
Reese Jones, Silicon Valley Futurist & Singularity University Founder
Plus, a look at the 10 Disruptive Technology Trends for 2016, the annual Corum Index of Tech M&A and valuation metrics across the six technology sectors and 30 subsectors. You don’t want to miss the premier event each year for software company owners and CEOs.
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: 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.
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.
Supply Chain Management and Logistics technologies prove to be key weapons in the battle of retailers against Amazon and other e-commerce giants. With tools that facilitate ease of supplier relationships, forecasting, improved business processes and integration, SCM and Logistics software providers deliver value to their customers and are rewarded with growth outpacing the rest of the software sector, with valuations nearly 7x revenue.
Join WFS on October 1 as we examine how these trends impact M&A for SCM and Logistics technology providers. With the top 5 vendors accounting for less than half of the market, will we see a wave of consolidation for the smaller players and point solution providers? This complimentary webcast is for CEOs, investors, private equity firms and acquirers who want to enhance their strategic planning with a better understanding of the SCM and logistics landscape, and the current demand for supply chain and logistics technology in today’s M&A market.
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.
GP Bullhound LLP puts together its annual report on valuations, revenues and "unicorns" inside the European Union (this is the final list in which UK based companies are being counted as European!)
It’s an exciting moment in adtech, as improved analytics enable stronger targeting personalization and effectiveness, and the trend of omni-channel marketing begins to blur the lines between “traditional” and “digital” advertising. The digital portion of the advertising market is a $140B global industry, growing at over 16% a year. Companies finding innovative ways to create real value for brands is in high demand, with ad agencies among the most active buyers of technology companies. This Market Spotlight webcast will examine the trends within driving interest, with perspectives from analysts, bankers, buyers, investors, and CEOs.
The dual company is an international technology company that creates a US holding company to enter the US market while maintaining significant operations in its home market.
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: 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.
We're in the midst of the best market to sell a software, Internet or related technology company in more than a decade. If you're considering taking advantage, you won't want to miss this in-depth conversation with a tech CEO who just sold the company he founded nearly 10 years ago. Kevin Linden just sold his firm Email Direct to j2 Global, one of the top buyers of software companies right now. Learn how he did it, what he learned, what surprised him and much more. Plus, a special report on the hot gaming M&A market.
The future of global money transfers
AirPocket (patent pending technology) is a disruptive,
SMS-enabled, international payments platform and
mobile money transfer product.
Venture Capital project, in the context of this course we explore venture capital as a social science. Meaning, that it consists of thought leaders, supporters, visionaries and far more than just money. Your assignment is to follow 3 venture capital firms that invest in a technology area you are interested. Within each venture firm, follow 1 portfolio company.
“Leaders of Growth” is an epic compilation of interviews from top leaders in the startup industry. It is a book about business founders who grew their startups from $1 million to $25 million and beyond.
FFCON19: Democratization of Venture Capital and the Opportunity Ahead (Brady...Craig Asano
April 3-Day 1 of the 2019 Fintech & Financing Conference in Toronto at venue partner Gowling WLG Office. Brady Fletcher, MD & Head of TSX Venture Exchange talks about how US VC industry is being disrupted, how the early stage funding gap is real and growing, the growth in Canadian VC markets, how companies are remaining private longer than ever (10 years from first funding to IPO) and alternative finance activity in the Americas.
More info
https://www.tsx.com/
https://fintechandfunding.com/
https://ncfacanada.org/
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: 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.
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.
GP Bullhound LLP puts together its annual report on valuations, revenues and "unicorns" inside the European Union (this is the final list in which UK based companies are being counted as European!)
It’s an exciting moment in adtech, as improved analytics enable stronger targeting personalization and effectiveness, and the trend of omni-channel marketing begins to blur the lines between “traditional” and “digital” advertising. The digital portion of the advertising market is a $140B global industry, growing at over 16% a year. Companies finding innovative ways to create real value for brands is in high demand, with ad agencies among the most active buyers of technology companies. This Market Spotlight webcast will examine the trends within driving interest, with perspectives from analysts, bankers, buyers, investors, and CEOs.
The dual company is an international technology company that creates a US holding company to enter the US market while maintaining significant operations in its home market.
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: 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.
We're in the midst of the best market to sell a software, Internet or related technology company in more than a decade. If you're considering taking advantage, you won't want to miss this in-depth conversation with a tech CEO who just sold the company he founded nearly 10 years ago. Kevin Linden just sold his firm Email Direct to j2 Global, one of the top buyers of software companies right now. Learn how he did it, what he learned, what surprised him and much more. Plus, a special report on the hot gaming M&A market.
The future of global money transfers
AirPocket (patent pending technology) is a disruptive,
SMS-enabled, international payments platform and
mobile money transfer product.
Venture Capital project, in the context of this course we explore venture capital as a social science. Meaning, that it consists of thought leaders, supporters, visionaries and far more than just money. Your assignment is to follow 3 venture capital firms that invest in a technology area you are interested. Within each venture firm, follow 1 portfolio company.
“Leaders of Growth” is an epic compilation of interviews from top leaders in the startup industry. It is a book about business founders who grew their startups from $1 million to $25 million and beyond.
FFCON19: Democratization of Venture Capital and the Opportunity Ahead (Brady...Craig Asano
April 3-Day 1 of the 2019 Fintech & Financing Conference in Toronto at venue partner Gowling WLG Office. Brady Fletcher, MD & Head of TSX Venture Exchange talks about how US VC industry is being disrupted, how the early stage funding gap is real and growing, the growth in Canadian VC markets, how companies are remaining private longer than ever (10 years from first funding to IPO) and alternative finance activity in the Americas.
More info
https://www.tsx.com/
https://fintechandfunding.com/
https://ncfacanada.org/
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: 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.
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: 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.
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.
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
2014 Tech M&A Monthly - 10 Ways to Increase the Value of Your CompanyCorum Group
There’s no easy trick to realizing the value of a technology company, let alone building a valuable tech company to begin with. But there are specific things that owners and executives can do throughout the life of the company to increase valuations when the time comes for an exit. Join Corum’s global team for their perspectives as dealmakers 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. Plus a look at key deals and valuation metrics in the Internet, Consumer and IT Services sectors, and much more.
For more information visit: https://www.corumgroup.com/
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.
The process of presenting to potential acquirers of your company is riddled with landmines that can lead to deal disasters. As a business leader, you may have made investor and customer presentations, but a presentation to a potential acquisition partner is entirely different. You and your advisor have worked hard to craft your message and attract potential buyers. The journey is not over, and this is one of the hardest parts. It needs to be done right for a successful outcome. This presentation explores the “9 Presentation Mistakes that Will Cost You a Buyer”. This is hard-won knowledge that global CEOs and founders have built while driving towards a successful exit.
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
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?
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.
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?
2014 Tech M&A Monthly - Mid-Year ReportCorum Group
This month, join us as we mark the halfway-point of this remarkable year for tech M&A, and look both back and ahead. We’ll look back at the notable deals, high valuations and key trends in all six market sand 26 subsectors that have made 2014 such a wild ride. Then, we’ll look ahead at the factors that could bring the ride to a sudden halt—either for the market as a whole, or for your company’s value in particular. Nothing lasts forever, so we’ll be examining the six events that could kill the market, as well as six events that, regardless of the overall environment, could kill your company’s value before you have a chance to realize that value.
Plus, special announcements of deals out of the UK, the US heartland and beyond, plus a look at the way Enmeshed Systems and the blurring lines between hardware and software are driving key deals and high valuations. Don’t miss this extended 45-minute presentation
2014 Tech M&A Monthly - 10 M&A Mistakes You Don't Know You're MakingCorum Group
Decisions you make today will affect the ultimate value of your company. But pitfalls at every stage of the process can hurt your value and affect the ultimate outcome. November 13, join Corum Group’s panel of senior dealmakers for a look at the mistakes you may be making today—in every stage through company formation to preparation to negotiation—that may kill tomorrow’s deal. Plus, reports on global M&A conferences, a healthcare/3D printing deal, and a look at key deals, trends and valuations from the last month.
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.
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: Forecast 2018 Pt. II - Private Equity RoundtableCorum Group
Private Equity is increasingly coming to dominate tech M&A dealflow. Is your company on their radar? Join Part 2 of Corum’s Annual Tech M&A Report, as we examine the rise of Private Equity from a subset of value buyers to the dominant paradigm in the market today, and are joined by a panel of the world’s leading Private Equity firms. With mountains of cash to spend, aggressive deal teams and actively acquisitive portfolio companies, all technology company owners and executives should understand the role of Private Equity in today’s M&A landscape.
Tech companies are uniquely valuable, with much of that value tied to IP and the protection afforded by strong patents. But with changing patent law, patent trolls and confusing Supreme Court decisions, how can your technology company best secure and maximize the value of your IP?
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.
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2. 2
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.
Welcome
Timothy Goddard
EVP, Marketing
Corum Group Ltd.
3. 3
Agenda
Welcome
Field Reports:
NTP Software
ExakTime
AnalytiX DS
Client Fishing Celebration Report
September 2018 Research Report
Special Report: When You Are Approached
Q&A
4. 4
Dave joined Corum in 2015 and has a diverse background in technology and life sciences. As an executive and
entrepreneur, Dave has been operating and investing in companies sitting at the convergence of commerce and
eCommerce as well as innovative life science businesses for over 25 years. Recently, Dave was CEO North America
for Gaxsys, an eCommerce and logistics company that is a leader in last mile logistics and fulfillment for eCommerce
marketplaces.
Dave has been on both sides of the mergers and acquisitions table, having sold a life science technology company,
facilitated sell side and buy side technology transactions and has also scaled multiple technology companies globally in
the eCommerce, life sciences and innovation intelligence markets.
Dave sits on boards of numerous public and private companies, including one that recently filed for an IPO.
Field Report: NTP Software
David Levine
Senior Vice President
Corum Group
5. 5
Rob has over 30 years of executive and entrepreneurial experience in multiple technologies: Integrated circuit testing,
industrial process automation and control, communications software, security software, and energy software and
services.
Rob has founded and sold several companies and engaged in two IPOs. He was most recently CEO of Evergreen Fuel
Technologies, Inc. in the energy sector. Rob is a broadly skilled strategic development professional with a proven
reputation for targeting, negotiating and developing profitable ventures and a demonstrated ability to successfully
analyze an organization's critical business requirements, identify deficiencies and opportunities, and develop innovative
and cost-effective solutions for enhancing competitiveness, increasing revenues, and improving customer
relationships.
Rob Schram
Senior Vice President
Corum Group
Field Report: ExakTime
6. 6
Ivan Ruzic has had a successful 30+ year career in the software business that has included virtually every senior
executive role. His resume spans marquee companies such as BEA systems, Novell and Borland as well as multiple
startups including his own. His international experience is extensive and in addition to the United States has been
involved in mergers and acquisitions in Europe, Africa and Asia.
His success and extensive experience qualify him as an expert in building value and realizing wealth. Ivan joined
Corum Group, the world’s leading software M&A firm, with a specific focus on educating and helping prospective
sellers maximize the value of their technology companies.
Ivan Ruzic
Vice President
Corum Group
Field Report: AnalytiX DS
7. 7
Prior to Corum, he founded or owned four software/IT/internet related firms, including the largest vertical market
software company in its time, AMI. This Inc. 500 firm, at its peak, was rated by IDC as the fastest growing computer-
related company in the world. He has also been at the vanguard of creative financing and, at one point, raised more
venture capital in a single closing than anyone in history without a lead investor. Through Corum, he has helped
execute over $1 billion in financings/recapitalizations with VC and PE firms in the U.S. and Europe.
As a recognized expert in software, he has served on numerous advisory boards including Bill Gates at Microsoft, IBM,
and Apple. He was founding investor in a number of firms, including Blue Coat, Bright Star and Sabaki, as well as
advisor to two governors, a senator, and the Canadian Government. He was a board member of the Washington
Technology Center, and founded the WTIA, the nation’s most active regional technology trade association.
Bruce Milne
CEO
Corum Group
Client Fishing Celebration Report
25. 25
Corum Research Report
Elon Gasper
EVP, Research
Amber Stoner
Director of Research
Amanda Tallman
Senior Analyst
Becky Hill
Research Analyst
26. 26
Public Markets 2017-2018
2017 2018
Jan Mar May Jul Sep Nov Jan Mar May Jul Aug
USA Aug 2018
S&P Tech 8%
NASDAQ 6%
Dow Jones 2%
Asia Aug 2018
HANG SENG -2%
SSE Composite -5%
Nikkei 1%
Europe Aug 2018
CAC 40 -2%
DAX -3%
FTSE 100 -4%
All-time high
27. 27
Corum Index – Tech M&A
Market
Transactions
Aug. 2018Aug. 2017
307 287
Mega Deals
5 3
Largest Deal $10.4B $5.4B
Pipeline
Private Equity
Platform Deals
35 31
VC-Backed Exits
4257
Attributes
38%
Cross Border
Transactions 34%
Start-Up
Acquisitions 10%11%
18 yrs16 yrs
Average Life
of Target
Aug. 2017 Aug. 2018
Aug. 2017 Aug. 2018
0%
7%
2%
11%
26%
48%
40%
28. 28
Corum Index: Analysis
2018 August volumes low; but July high, offsetting
Total deal count Q3 so far is 5% higher YoY
Many Sept megadeals already; brings Q3 to 2017 level
From Corum’s vantage point:
August closings delayed or not disclosed
Approaches continuing at high pace
Buyer needs still urgent amid tech market changes
Sellers hesitant, risk exit timing by chasing growth
Conclusion: supply-limited seller’s market still
29. 29
Q3 2018: Megadeals to Date
$4.9B $24B
$3.4B
$2.5B
$19B
IT SERVICES INFRASTRUCTUREVERTICAL
$7.1B
$2.6B
$1.5B
$12B
HORIZONTAL
$2.3B
$1.3B
$2.0B $2.4B$1.5B
$1.5B
$5.4B
$1.2B
$1.5B
30. 30
Q3 2018: Megadeals to Date
$4.9B $24B
$3.4B
$2.5B
$19B
IT SERVICES INFRASTRUCTUREVERTICAL
$7.1B
$2.6B
$1.5B
$12B
HORIZONTAL
$2.3B
$1.3B
$2.0B $2.4B$1.5B
$1.5B
$5.4B
$1.2B
$1.5B
Target: TrevelClick [Thoma Bravo] [USA]
Acquirer: Amadeus IT Group [Spain]
Transaction Value: $1.5B (4.1x EV/Sales and 17.7x EBITDA)
- Cloud-based software solutions for hoteliers
- Accelerates Amadeus’ expansion in hospitality sector
Sold to
31. 31
Q3 2018: Megadeals to Date
$4.9B $24B
$3.4B
$2.5B
$19B
IT SERVICES INFRASTRUCTUREVERTICAL
$7.1B
$2.6B
$1.5B
$12B
HORIZONTAL
$2.3B
$1.3B
$2.0B $2.4B$1.5B
$1.5B
$5.4B
$1.2B
$1.5B
32. 32
Internet Market
Public Valuation Multiples
4.6x
18.8x
EV
Sales
Corum Analysis
EV
EBITDA
Climbing back towards
early year numbers…
…while EBITDA
metrics dropped down,
again reflecting
business model
uncertainties, as in Q1.
Aug. 2018Since Q2
33. 33
Deal Spotlights: Travel
Internet Market
Sold to
Sold to
Sold to
Target: Gagfare [Hong Kong]
Acquirer: Sharing Economy International [Hong Kong]
Transaction Value: $3.6M
- Online platform for searching and booking flights
Target: Tropo [ProSiebenSat.1 Media] [Germany]
Acquirer: dnata [Emirates Group] [UAE]
- Online booking for flights, hotels, car hire
Target: PrivateFly [USA]
Acquirer: OneSky [Directional Aviation] [USA]
- Online private flight booking service
34. 34
Deal Spotlights: Food Delivery
Internet Market
Target: PedidosYa [Delivery Hero] [Uruguay]
Acquirer: iFood [Brazil]
- Online and mobile food-ordering platform
Sold to
Target: 10bis.co.il [Israel]
Acquirer: Takeaway.com [Netherlands]
Transaction Value: $157.3M (10.2x EV/Sales and 23.7 EV/EBITDA)
- Online and mobile food ordering services
Sold to
Sold to
Target: looloo [Philippines]
Acquirer: BigDish Ventures [Philippines]
- Platform to discover restaurants, hotels, and travel destinations
Brazilian assets
35. 35
Deal Spotlights: Ticketing
Internet Market
Sold to
Sold to
Target: Rukkus [USA]
Acquirer: TickPick [USA]
- Live entertainment search engine that explores ticket sites
Target: Picatic [Canada]
Acquirer: Eventbrite [USA]
- Crowd-funding platform for event ticket sales
36. 36
Deal Spotlight: E-commerce
Internet Market
Sold to
Target: Serviz [USA]
Acquirer: Porch.com [USA]
- Online platform for booking home repair and maintenance services
- Enables Porch to deliver services via mobile app
- Follows recent buys of Porch in home services, including Done.com
37. 37
3.1x
17.4x
Public Valuation Multiples
EV
Sales
Corum Analysis
EV
EBITDA
Consumer Application Software Market
Leveled out after
sliding since Q1,
before reaching 2017
lows…
…with EBITDA-based
performance continuing
to track tightly
Since Q2 Aug. 2018
38. 38
Deal Spotlights: Gaming
Target: Fuel Powered [USA]
Acquirer: Animoca Brands Corporation [Hong Kong]
- Multiplayer and live events for mobile games
Target: The Chinese Room [United Kingdom]
Acquirer: Sumo Digital [United Kingdom]
Transaction Value: $2.8M
- Exploration games development studio
Sold to
Sold to
Sold to
Target: PixOwl [USA]
Acquirer: Animoca Brands Corporation [Hong Kong]
Transaction Value: $4.8M
- Mobile games developer
Consumer Application Software Market
39. 39
Deal Spotlight: Gaming
Consumer Application Software Market
Sold to
Target: CCP Games [Iceland]
Acquirer: Pearl Abyss [South Korea]
Transaction Value: $425M
- MMO videogames and development services
- Fuels growth of the Black Desert Online franchise
- Aligns with CCP’s decision to switch from VR to mobile games
40. 40
Deal Spotlights: Personal Banking
Sold to
Target: Walnut [India]
Acquirer: Capital Float [India]
Transaction Value: $30M
- Software for managing finances
Target: Balance Technology [India]
Acquirer: Paytm [Alibaba] [China]
- Savings management app
Sold to
Target: Tapzo [India]
Acquirer: Amazon [USA]
Transaction Value: $40M (reported)
- Platform to discover and transact on different apps
Sold to
Consumer Application Software Market
41. 41
IT Services Market
1.3x
12.9x
Public Valuation Multiples
EV
Sales
Corum Analysis
EV
EBITDA
…with EBITDA ratios
following suit.
Back to stability after
blip in June…
Since Q2 Aug. 2018
42. 42
IT Services Market
Deal Spotlights: Salesforce SI
Sold to
Target: SaaSfocus [India]
Acquirer: Cognizant [USA]
- Salesforce consulting, integration and customization
Sold to
Target: Amicus Digital Ventures [Australia]
Acquirer: Dentsu Aegis Network [United Kingdom]
- Salesforce Cloud consulting and technical services
Sold to
Sold to
Target: Figur8 Technology Ventures [USA]
Acquirer: AllCloud [Israel]
- Strategic consulting and Salesforce development
Target: Canpango [USA]
Acquirer: ScanSource [USA]
- Salesforce implementation and consulting
43. 43
IT Services Market
Deal Spotlights: Security Services
Sold to
Target: InfoNet [Turkey]
Acquirer: CYBER1 [USA]
Transaction Value: $14M
- Cyber Security Services and products
Target: MacAulay-Brown [USA]
Acquirer: Alion Science and Technology Corporation [Veritas Capital] [USA]
- Engineering and cybersecurity services
Sold to
44. 44
IT Services Market
Deal Spotlights: Accenture
Sold to
Target: Mindtribe [USA]
Acquirer: Accenture [USA]
- Mechanical and electrical hardware engineering
Target: Pillar Technology Group [NewSpring Holdings] [USA]
Acquirer: Accenture [USA]
- Information technology consulting services
Sold to
45. 45
Q3 2018: Megadeals to Date
$4.9B $24B
$3.4B
$2.5B
$19B
IT SERVICES INFRASTRUCTUREVERTICAL
$7.1B
$2.6B
$1.5B
$12B
HORIZONTAL
$2.3B
$1.3B
$2.0B $2.4B$1.5B
$1.5B
$5.4B
$1.2B
$1.5B
Target: Engility Holdings [USA]
Acquirer: Science Applications International [aka SAIC] [USA]
Transaction Value: $1.5B (1.3x EV/Sales and 13.7x EBITDA)
- Engineering and logistics services for government
- Continues the flurry of deal-making in government sector
Sold to
46. 46
Corum Research Report
Elon Gasper
EVP, Research
Amber Stoner
Director of Research
Amanda Tallman
Senior Analyst
Becky Hill
Research Analyst
48. 48
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). Joel has also written extensively on the future of video
in his capacity as Senior Analyst 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, a pioneer in the
mobile video market. While at PacketVideo, Joel led corporate development activities, including 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 (Japan).
Joel Espelien
Vice President
Corum Group
Moderator
49. 49
13 Tips for When You Are Approached
Bruce Milne
CEO
Corum Group Ltd.
Understand the
numbers
Know your odds
50. 50
Tech M&A Guideline Percentages
Buyer solicitations that result in transaction
Average improvement from first offer with an
auction process
How often another firm is willing to pay more
than the initial bidder
Deals involving only one bidder that are
suboptimal
Failure rate in “self-managed” tech M&A
51. 51
13 Tips for When You Are Approached
Julius Telaranta
Vice President
Corum Group Ltd.
Protect Yourself
Get an NDA &
nonsolicitation
agreement
52. 52
13 Tips for When You Are Approached
Jon Scott
Managing Director
Corum Group International
Qualify the Buyer
Are they a
bottom feeder?
53. 53
13 Tips for When You Are Approached
Rob Schram
Senior Vice President
Corum Group Ltd.
Qualify the Buyer
Can they do
the deal?
54. 54
13 Tips for When You Are Approached
Peter Prince
Vice President
Corum Group International
Qualify the Buyer
What deals have
they done?
55. 55
13 Tips for When You Are Approached
Steve Jones
Senior Vice President
Corum Group Ltd.
Examine the
landscape
Are there other buyers
willing to pay more?
56. 56
13 Tips for When You Are Approached
Rob Griggs
Vice President
Corum Group Ltd.
Are they serious?
Get a due-diligence
checklist
57. 57
13 Tips for When You Are Approached
Martin Lowrie
Vice President
Corum Group Ltd.
Prepare your numbers
Build three year
financials & projections
58. 58
13 Tips for When You Are Approached
David Levine
Senior Vice President
Corum Group Ltd.
Build out your
assumptions
Are they credible?
59. 59
13 Tips for When You Are Approached
Dan Bernstein
Senior Vice President
Corum Group Ltd.
Buy time with a
valuation
Cover your fiduciary
responsibility
60. 60
13 Tips for When You Are Approached
Jim Perkins
Executive Vice President
Corum Group Ltd.
Make discreet inquiries
to other suitors
Must be at the highest
level
61. 61
13 Tips for When You Are Approached
Ivan Ruzic
Vice President
Corum Group Ltd.
Under no circumstances
have only one bidder
One buyer is no buyer
62. 62
13 Tips for When You Are Approached
Joel Espelien
Vice President
Corum Group Ltd.
Get Some Help
Don’t take this
journey alone
63. 63
Upcoming Conference Schedule
Selling Up Selling Out (SUSO) - Ready to go to market? During this half-day workshop, learn to prepare, position,
research, value, negotiate, and execute due diligence for maximum price and structure. This is the most attended Tech M&A
event ever – participants have done over $1 trillion in transaction value.
Merge Briefing (MB) - The Merge Briefing is a 90-minute executive briefing providing a current M&A market update (trends,
valuations, etc.), as well as a brief overview of the Tech M&A process: “8 Steps To An Optimal Outcome.”
www.CorumGroup.com/Events
Sep. 13: Phoenix– MB
Sep. 13: Omaha – MB
Sep. 13: Lincoln – MB
Sep. 20: Chicago – SUSO
Sep. 25: Hamburg – MB
Sep. 25: Sao Paulo – MB
Sep. 17: San Francisco – MB
Oct. 02: Stockholm– SUSO
Oct. 02: Toulouse – MB
Oct. 03: Helsinki – SUSO
Oct. 04: Tallinn – MB
Oct. 04: Lyon – MB
Oct. 04: Santa Barbara – SUSO
Oct. 11: Grenoble – MB
Oct. 16: Geneva – MB
Oct. 17: Amsterdam – SUSO