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Mergers and Acquisitions

Free Money | Supporting Entrepreneurial Non-Profits

At Pledge 1% our mission is to encourage entrepreneurs and companies to give back to their communities through the donation of equity, product, profit and time to non-profits. We launched this program less than a year ago we already have over 1,000 members of our community. And it’s growing quickly. As entrepreneurs ourselves we’re always looking…

Too Lijit

This morning Federated Media announced that it has acquired Lijit Networks in a private stock deal. I’m incredibly proud of what the Lijit team has accomplished in the almost 4 years we’ve been investors in the business – charting a course that wasn’t exactly always a straight line, but one that has always placed publishers…

A different take on the Google/YouTube deal

My partner Chris sent the following around.  Its a more lighthearted way of looking at the Google/YouTube deal… YouTube is currently “delivering” 100,000,000 videos/day.  I’m by no means a prolific consumer of YouTube content, but I’m going to guess that the average length of a YouTube video is about 1.5 minutes. That translates into 150,000,000…

The missing step

This post is part of my ongoing series about mergers and acquisitions. You can take a look at the rest of my m&a posts here. So – you have a term sheet/letter of intent/memorandum of understanding fresh off your e-mail from the other party (this could for be an acquisition, partnership,  join venture, financing, etc.)….

M&A – Do your research

I’ve had an ongoing series running on my blog dealing with various topics related to mergers and acquisitions (link to the full serieshere). As part of that group of posts, Daniel Benel wrote a  guest column from his perspective as an m&a professional at Verint. Yesterday he dropped me the following note: I was in…

When should you sell your business?

Last week’s news that CA purchased Wily Technologies for $375m reminded me of a working theory that I’ve had for a while (which generally seems to be supported by market experience over time), which is that there are generally two time frames in a company’s life where it can extract the most value from being…

M&A Part IV – Timing

When I worked at Morgan Stanley in the mid 90’s we used to have a joke about the relationship between VP hours and analyst hours. The ratio of these hours was in the neighborhood of 7 to 1, so when your VP asked you to do an analysis or create something for a pitch book…

Changing styles . . .

Brent wrote in recently to remind me that I wrote in M&A Part I – Lines in the Sand that I’d talk a bit about changes in my negotiating style over time. I actually interested to hear if other people have had similar experiences, because what I’m about to describe both seems like a natural…

M&A – A Corporate Development Perspective

I recently asked my friend Daniel Benel if he’d consider contributing to my M&A series. Daniel was a banker with Lehman Brothers (in NY and Tel Aviv) an  is now a corporate development exec at Verint Systems (NASDAQ: VRNT). Despite having never bought one of my companies, he’s a great guy with a smart corporate development mind…

Your Exit

Here’s an interesting stat from a M&A update I received in my inbox a few days ago: Since 2000, the ratio of technology companies sold vs. going public is 10:1 (1,300 m&a deals vs just 125 IPOs).  The moral of the story – be realistic.  If you run a software company you are WAY more…