Software M&A Blog
Restructuring of the Software Industry
I read with great interest the recent article by our friends at Summit Partners, Greg Goldfarb and Jason Glass. [Click on title to read more.]
Posted by WardCarter, Chairman on 08 September 2010
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So what does scarcity really mean?
“I saw Nat Burgess (Corum’s President) interviewed on CNBC’s Closing Bell the other day. He talked about the 3PAR deal and the principal of scarcity behind the valuation. I understand how this works if I have a $200M business, but as a $10M software business, how do I create a sense of scarcity around my small business?” Good question.[Click on title to read more.]
Posted by JeffBrown, Vice President on 03 September 2010
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Trust is good, but...
Some time ago, the CEO of one of my clients had to leave the company during the M&A process. The CFO took over the responsibility for all the project’s tasks... [Click on title to read more.]
Posted by FrankBerger, Regional Director on 01 September 2010
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How to play Tech M&A? Corum tells Wall Street Journal's MarketWatch
Corum President Nat Burgess was quoted on WSJ's MarketWatch this weekend regarding "How to play the technology stock M&A wave."[Click on title to read more.]
Posted by ElonGasper, Director, Advisory Board on 30 August 2010
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Growth or profits? That is the question.
Yesterday, I was in a meeting with the CEO of a $6m SaaS company. In the context of his shareholder’s plan to exit in the next 18 to 24 months, he asked a classic question: Prior to our near term exit, should I focus on growth or profit in my business planning? [Click on title to read more.]
Posted by MiroParizek, Managing Director on 27 August 2010
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Guerilla Marketing – Make promotions response oriented
Continuing Bruce Milne's guide to "Software Company Guerilla Marketing" on how to market effectively, using little money... Always give your audience a directive task as part of your promotional message. [Click on title to read more.]
Posted by PatSultan, Director, Operations on 26 August 2010
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Obsolete technologies
I was amused by the list of "Top 20 Obsolete Technologies" compiled by our friends at ABS Capital Partners. Many of these were long time market leaders... [Click on title to read more.]
Posted by WardCarter, Chairman on 24 August 2010
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Surviving the deal – how to ensure success in M&A
If you want insight into how to structure a successful M&A transaction, download my new white paper profiling EMC’s acquisition of Data Domain. [Click on title to read more.]
Posted by NatBurgess, President on 20 August 2010
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Intel buys McAfee for $7.7 billion
On Thursday, August 19, the chip giant agreed to pay $48 a share in cash for the anti-virus vendor, a premium of roughly 60 percent. At first one might ask, why pay such a premium for an anti-virus company that’s been losing popularity with its core product in the consumer and enterprise? They’ve had restructuring charges and delayed sales; their stock has plummeted in the second quarter; what was
Posted by tomokiyasuda, Senior Analyst on 19 August 2010
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Missing your numbers during M&A
A full M&A process should take nine or more months; it is quite possible that there will be contact with seriously interested buyers lasting six months. A demanding forecast will help push interested buyers to give their best offers, but what should you do if you start to miss your forecast numbers during that time? [Click on title to read more.]
Posted by JohnMelotte, Regional Director on 18 August 2010
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SaaS still sizzles
recently returned from speaking at SaaS University hosted by Softletter in Washington DC. This event attracted a good turnout of SaaS executives and industry leaders from around the globe. The outlook from attendees was very upbeat, strong customer acceptance and high user retention rates. [Click on title to read more.]
Posted by WardCarter, Chairman on 17 August 2010
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"SOLD" Seller Panel - lessons learned
From the August webcast, “SOLD” - Sellers Panel, there were several recurring themes that came from the four presenters. Here are three related ones... [Click on title to read more.]
Posted by BruceDMilne, Founder on 13 August 2010
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Working capital adjustments
My colleague Ward Carter posted an interesting blog about working capital adjustments. I’m living his scenario now on a deal negotiation, and encourage everyone to read it. Here is an analogy that I have used... [Click on title to read more.]
Posted by NatBurgess, President on 12 August 2010
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Working Capital – Its role in deal negotiations
Having just been through a deal where negotiations fell apart over working capital levels, I thought it was worthwhile to share some of my observations on this matter. [Click on title to read more.]
Posted by WardCarter, Chairman on 09 August 2010
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Guerilla Marketing – In-house ad agency
Some companies find they can use in-house staff or an outside design firm/writer, rather than an ad agency, to produce their ads. [Click on title to read more.]
Posted by PatSultan, Director, Operations on 06 August 2010
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Guerilla Marketing – Test market questionnaire
Consumer goods manufacturers wouldn’t dream of doing a full-scale promotional campaign and product release without test marketing first. Unfortunately, most software companies don’t test market or do market surveys. [Click on title to read more.]
Posted by PatSultan, Director, Operations on 29 July 2010
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Guerilla Marketing – Small, black and white ads
Another of the inexpensive but highly effective marketing ideas published years ago by Bruce Milne. Maybe this could this work for you...
Posted by PatSultan, Director, Operations on 23 July 2010
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What if you had 26% more cash?
The Wall Street Journal reported today that at the end of March, non-financial companies in the U.S. were sitting on $1.84 trillion in cash and other liquid assets, up 26% from a year earlier, as per the Federal Reserve.
Posted by JonScott, Vice President on 20 July 2010
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Fishing with Past Clients and Other Friends
It was early morning, down the east side of Queen Charlotte Island, at the out-of-bounds marker. [Click on title to read more.]
Posted by BruceDMilne, Founder on 16 July 2010
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Selling Up Selling Out goes to Singapore
We’re taking our Selling Up Selling Out “show” on the road to Singapore for the first time ever this month!
Posted by ElonGasper, Director, Advisory Board on 14 July 2010
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Guerilla Marketing – Users Survey
Surveys can provide information on your customer likes and dislikes, perceptions of competitive products, suggestions for enhancements and new products, etc. [Click on title to read more.]
Posted by PatSultan, Director, Operations on 09 July 2010
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Back from Lisbon
I just spent a few days in Lisbon (Portugal) to meet with software CEOs, entrepreneurs and VCs. What is most striking when you get there is that the city, just like elsewhere in Portugal, is completely turned towards international business. [Click on title to read more.]
Posted by JeromeFougerat, Regional Director on 06 July 2010
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What to do with all that cash?
I’m watching earnings and cash balances among larger public tech companies grow. [Click on title to read more.]
Posted by JonScott, Vice President on 02 July 2010
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Guerilla Marketing – Classified ads
This continues the "Tools for Guerilla Marketing" written by Bruce Milne over 20 years ago, listing tried-and-true techniques that really work. While some need to be modified for today's digital world, this one still holds, especially when used with the many vertical publications available in print... [Click on title to read more.]
Posted by PatSultan, Director, Operations on 23 June 2010
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Timing An Exit – The Impact of Capital Gains Tax Increase
Timing is an important part of every seller’s decision. Assessing whether you can find the right valuation today or are better off using the next year or two to build the business requires thorough deliberation. US sellers must now consider the impact of an increase in the Long Term Capital Gains Tax rate. [Click on title to read more.]
Posted by JeffBrown, Vice President on 15 June 2010
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Guerill Marketing - Association representation
Over 2 decades ago, Corum's founder, Bruce Milne, wrote "Software Company Guerilla Marketing: How to Succeed in the Software Wars with a Carefully Targeted, Low/No Budget Marketing and Sales Campaign." The message below continues the series of hands-on, practical ways to get the biggest bang for your sales buck. [Click on title to read more.]
Posted by PatSultan, Director, Operations on 09 June 2010
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There’s something happening in the market…
I was excited to be in the Midwest this past week, speaking at Corum’s “Merge Briefing” and meeting with software companies... There’s something happening in the market. [Click on title to read more.]
Posted by MarkReed, Executive Vice President on 04 June 2010
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Software M&A to be way up in Canada
Last week I spoke to 100 software execs (mostly CEOs and CFOs) at the PricewaterhouseCoopers Vision to Reality session in Toronto. [Click on title to read more.]
Posted by BruceLazenby, Vice President on 02 June 2010
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Tech M&A makes news
Mainstream press reports on the increase in tech M&A keep popping up, with Business Week joining in yesterday with “Tech M&A: Ready for a Ramp-Up”... [Click on title to read more.]
Posted by ElonGasper, Director, Advisory Board on 25 May 2010
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Corum President Nat Burgess quoted in USA today
USA has published an excellent article on the surge in tech M&A. [Click on title to read more.]
Posted by NatBurgess, President on 19 May 2010
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