What are some of the most common misconceptions software companies have about M&A?
A misconception comes from the tried saying: “Good companies are bought, not sold” – which essentially says you wait for it just to happen. Every successful entrepreneur that I know would never just wait for something to happen. You don’t have a “buy force” to move your product or solution. You have a sales force. They proactively initiate a compelling discussion with your customers. Whether that outreach is a formal sales team or a digital campaign, it is proactive in nature. The same applies in an M&A situation. When the market conditions are right for an M&A transaction, a software company should be proactive in pursuing an outcome. The choice is to act---or be acted upon. Don’t let the market pass you by.
We are very glad we had Corum supporting us in all the intricacies of the transaction, and working tirelessly with us throughout the process to completion.