17 Burst results for "M. A."

"m. a." Discussed on M&A Science

M&A Science

08:04 min | 6 months ago

"m. a." Discussed on M&A Science

"With a brief description of your role and experience that ibm or having to do that. Thanks to everyone who's listening. Hopefully you'll be able to take away a couple of nuggets from my experience and the ibm teams experience in mma. I came to ibm through acquisition of a company called initiate systems. Chicago based right there with kasan have been at. Ibm as he set a little over. Ten years of my career in ibm has been a winding an interesting career from leading a industry marketing function globally to working on a very large client team so client facing and then moving into a couple of entrepreneurial pilot kickoff programs in the ibm company where we tested some new adventures and transformation. And then working in emanate. And i found my way. Back to emanate because of my passion for the acquired employee experience and the opportunity to help other acquired teams coming into ibm have a great experience and energize increase ibm's growth and market presence. I have a passion for people. And hopefully we'll share some of that with you as we talked to today. I always find that interesting. How practitioners latch onto the integration process. Because even i've met or for development leaders that end up focusing more on immigration on curious. What about integration. That really draws you. Well let me start off and we'll talk about this little bit more but we actually are moving away from the term integration integration. Has this connotation of doing it to you. Not doing it with you. What we've found over the years is that when you bring a acquisition into. Ibm you really want to embrace. All its unique and special about that acquisition and co create with that acquisitions leadership and team members the potential bring to bear the greatest value creation. You can and integration. Doing it to them is not probably the right approach. It's embracing that co creation doing it with them so we've moved to the term implementation implementation of the business as usual state. We are trying to achieve and doing it together without acquired team at ten years at ibm as ibm evolved. Since you started. High man's been a transformational journey oath from a market perspective and our focus around hybrid multi cloud and data in ai. Which is is what we are uniquely bringing to the market today so our focus has transformed but also our internal organizations have transformed and have moved from hierarchical type approaches to things checklists driven lots of individual syros. Too much more forward thinking approach on. How do we become business outcome oriented. Add agility agile transformation into our ways of working across the entire business. What's been interesting is different areas of the ibm company have moved at different paces. On this agile transformation journey. I feel very fortunate to be our finance and operations organization under the leadership of john canada. And he's really embraced promoted and enabled individuals teams to develop transforming our workflows and waited. We operate in agile ways. So it's been a great experience. And we've taken that to the next level in corporate development to try to leverage the transformation in financing operations into our corporate development approaches as well. So it's changed. Its ongoing it's iterative. All strong concerts of agile and always working and we continue that journey every single day. But nicely frames me to ask you. How have you seen agile principles improve workflow and integration process of was issues so we embarked probably little over a year and a half ago on something we call acquisition agile accelerate and it really was to take our thinking from checklists. Driven implementations to something bit was more flexible that enabled us to move more quickly that enabled us to innovate along the way. So i just shared this overview with you we start with what probably all corporate development and emanating start with a strategy around the portfolios that they're looking at and how do they build inorganic growth into that and then moving to the alignment and onto deal enablement in transition to operate really what we focused our acquisition agile accelerate work on is in the steel enablement and transition to operate phase. We really look hard at. How are we going to think about the deal. Rationale think about it in a different way. How are we going to develop due diligence in a approach. That oath gives flexibility but also gets to the business value quickly. How are we going to then do. The discovery of what it takes to establish an acquired organization into ibm's operating models and business as usual structures and each of these things are reliant on understanding. What the post close operating model might be is it. A tuck in is it. A hybrid model is a standalone business potentially are their spin offs and divestitures across this as well that we might look at so. This is the high level picture of what we focused on for. Agile accelerate and we unpacked each of these areas and built some workflows to go through. How do we work together. How do we bring teams and individuals functions into each of these stages in a way that really minimizes the resource use or the resource required. When we're completely focused on. What is the business outcome for that. Iteration we then looked at it in three areas of critical importance. The offerings as you bring in an acquisition the go-to market so building synergies and the operating model and then we built the implementation plan. According to that now there is a lot of debate internally on when do you start building the implementation plan and it really does start early. It starts early with a smaller team. It then adds subject matter experts across the workflow as you see here and ultimately builds too. How do you get to a operational state. I would call out just a little bit here. The operational states and son of this we learned on the red hat acquisition which was acquired and put in as a standalone bar. The first and foremost thing is to stabilize business after close and make sure that we do no harm and i think all of you probably have that same approach. Then we look for efficiencies that doesn't mean reductions in force that doesn't mean looking at. How do we reduce redundancies. Necessarily it means things. Like how do we get procurement activities to the benefit of their quired organization. How do we get things like travel policies with the large scale that we have in. Ibm how did we get that benefit for this standalone unit or this business that we've acquired and then finally we look at how do we optimized the interactions and workflows all focused on value creation. All focused on the business case and meeting the business case. This is the core idea behind what we.

ibm Ibm john canada nuggets Chicago ai
"m. a." Discussed on M&A Science

M&A Science

02:02 min | 7 months ago

"m. a." Discussed on M&A Science

"You're you're one hundred four acquisitions like i'd get nailed if i tell any stories i've seen some stuff for sure. Your bedroom spectator are. This will be continued happy hour which will be complete record. So those watching off livestream. We're not recording. Last couple of sessions. I want to thank you both refined. Thanks so much for listening to this episode of emini science. If you want to stay up to date on the podcast all things. Science including our events make sure you sign up for our weekly newsletter at emi science dot com ma teams.

"m. a." Discussed on M&A Science

M&A Science

02:40 min | 8 months ago

"m. a." Discussed on M&A Science

"Does that actually make an impact jere initiatives in general because I think that tends to be a driver when you have one company publicly announcing some of their initiatives, it does add fuel other competitors and so forth you WanNa go first. I would say for publicly held organizations they've recently mandated maybe it's spite share peer pressure, but they all now come out with these sustainability reports and so if you're publicly owned any, don't have an understanding of what impact you're having in regards to es J. factors that that's a serious miss. So there's GonNa be some understanding and I? Think if you're a middle market organization, no unless you operate landfill Bennett becomes hugely important because you have to abide by regulations you have to maintain good relationships in the environment that you live in. So I think it really does depend on industry industry but. For the owned organizations I think it is something that they have to do. Is there a certain industry you've seen that or this becomes? The must've? In the waste industry for sure any waste organization that doesn't have an understanding of what they're doing to the whole in the ground and how big it's getting, how are they managing all the stuff that's coming out of it every so often and what's their long-term plan? What's their cleanup? Of course you have to understand that mining safety impact but I think when you're talking about or musicians that touched the consumer then that's where it gets really iffy because they can shove all that down in their supply chain you thinking of anyone in particular. No No. Now I I. I don't know it's a hypothetical. That was an it's still is a brilliant brand play in that this hypothetical company really accrued an enormous amount of brand value by working their supply chain. Yes. It was TD stomach it amazing case study and it's wonderful because it's like lawyers, right? Here this. Don't tell me about it because then I can truthfully say, I, don't know anything about it. I'm just GONNA mandated to my supply chain. They will not tell me about it and I've mandated it so it must have happened and it's one of those if then clauses that never actualize is and so yes. Exactly. Right. So there's this tells zero waste effort I'm finding myself getting cynical. So I'm going to back off this train really quick but yes. Up to say thanks. Thank you. Not only go back to your question about ratings rankings benchmarking save you remind..

Bennett
"m. a." Discussed on M&A Science

M&A Science

07:19 min | 9 months ago

"m. a." Discussed on M&A Science

"We are not generally a developer or owner of real estate. We advise clients on there real estate matters. And so when we talk about Acquisitions in the context of jail on what I do, I'm specifically referring to the opposition of other Real Estate Services firms. What is a talent focused acquisition? So a telephone was that position is largely a services-based acquisition and off the Hallmarks of a talent-based acquisition our situation. We are requiring people requiring people for their skills their domain expertise particularly in the areas of Consulting and advisory and their client relationships particularly in the areas of brokerage as you can imagine jll being principally a Services based organization. Most of the Acquisitions. We do are talent-based but like other firms me to our on our digital Journey here and interested in you know, looking at some technology-based place as well. But for today, we'll be talking about talent-based Dominic. What are the key criteria in assessing? An investment and a talent focused acquisition and if you can describe how you would do the diligence, when we looking at Allen focused acquisition, we're looking at initially a lot of the same things would for any other acquisition in understanding the business model the historical and projected financials Revenue profit and so forth. So all of that is table Stakes, but I think what makes the talent-based acquisition more unique is we're really digging in understanding the employees and the culture one of the things that we are particularly attracted to our situations where the employees of the firm are also the owners of the firm and there is really strong alignment there which enables us to do some things with purchase price and earn-outs to create incentives going forward. We also want to look at how calm the employees are not just to a sale but to continuing on as employees to jail well as closing and that's pretty critical and so we would not be interested in a situation where a group of folks are looking to age. Cash on retired that would be pretty hard for us to get value out of that going forward. It's very important that we have commitment so that we can realize the return-on-investment overall. Make sure there's an ongoing career path to leadership involved absolutely and no leadership is as well all the employees and and that there is also a good training and development model in place as well because not everybody is going to be there forever. Not everybody's going to last forever and we need to make sure that there is appropriate processes in place for knowledge sharing and and training how do you approach planning the structure and valuation of a deal recognizing that the values in the employees and the biggest risk is that you do the acquisition and then as soon you close everybody leaves in your left with nothing, so that's the risk that we're always trying to minimize and how we structure the deal from evaluation perspective. We still employed a very revenue and cash-flow based evaluation methodology, but how we structure that valuation is going to be different for talent-based deal. We tend to pay purchase price over time rather than all at once and use an ounce quite extensively now everybody's got their horror stories about her. Now. It's I'm proud to say by and large they most often worked for us. They've mostly been when when we of course have some scars as well, but they have been a very effective tool in talent-based Acquisitions to new creating that incentive for the owners slash employees to walk to really Drive growth going forward. And then of course, you also use retention mechanisms as well both time days and performance-based retention compensation models. Hips are keys on how do you make an orange successful try to imagine every possible scenario and plan for it in the purchase agreement and then you'll still miss something really gotta get that crystal ball out there. I think for us the key has been in our the way we structure our house has evolved quite a bit over time and I think the biggest area of involvement has been making sure that we are holding the acquired business page. Accountable for things they're in their control. So that's really important to folks coming on board. They don't want to be measure of things that are well outside their control like corporate allocations and expenses that they have no visibility into you have to find a way to integrate but also ring-fence the business at the same time that can be a tricky balance and to making sure that the earn-out is aligned with what you actually want those employees focused on day-to-day. Well, I am not round the variables that team can actually control exactly go tip are there ways in which building a talent Focus structure could be leveraged and other Industries. Absolutely. So I think Tom m&a is really applicable to any Professional Services or business services firm consulting firms advisory firms interior design architecture and you name it. So anything that falls in category is going to largely be focused on talent and they're going to likely employ similar structures and models to the things that yeah. Well does I think in the world of technology dead There's Channel based on Monday and it's more frequently referred to as Apple hires frequently C software companies and Technology firms acquiring talents, but I think the distinction there is in Business Services, you're requiring that challenge for exactly what they're doing today in the technology world, you might acquire that talent and redeploy them to other projects or morphed IP into something a little bit different. It's really using a way to get access to it too. Great development skills typically, but what those people might be doing post closing is more often than not looking looks a little bit different than what they were doing pretty closing. And what does that mean in terms of repurposing the home team that you're requiring or a different projects in the technology world with an echo higher soften an acquisition of a team and maybe plus some intellectual property intellectual property maybe is interesting, but they were not able to monetize it or really turn it into a business. And so the acquirer often will either sometimes scrap that intellectual property completely or take that intellectual property and build it into a wage. Thing else that they are building internally is a way to accelerate development. And so the team the acquired team may or not continue to work on that IP more likely they're going to work on something bigger so and Google and apple other of these types of Acquisitions. They usually got big projects already underway that they need talent for and they'll use that wires to go get that if you're not going to utilize the IP are you actually putting weight on that in your generation? I would think in those situations not so much know you're going to be really looking more hiring costs as your opportunity cost and then the deal structure itself is going to be more heavily weighted towards retention wage, maybe or now if there's if there's a way to measure Revenue going forward and some screwed way, but these deals are often very focused on in a position of just of the talent and then retention around that going forward them to keep that strategic ones on and discard the nice to haves and what ways does the talent focused organization have to change their processes and adapt. I think the most important thing is to keep it open a game. I'm willing to learn from the organizations that we acquire. There's obviously a reason why we're attracted to the firms that we acquire. They're doing something very well. It's important that we learn from them culturally and operationally so we have to be open to adapting our methods our business model in.

talent-based Acquisitions Apple developer Dominic Allen Tom m&a Google Business Services Professional Services
"m. a." Discussed on M&A Science

M&A Science

07:19 min | 9 months ago

"m. a." Discussed on M&A Science

"Bios. We are not generally a developer or owner of real estate. We advise clients on there real estate matters. And so when we talk about Acquisitions in the context of jail on what I do, I'm specifically referring to the opposition of other Real Estate Services firms. What is a talent focused acquisition? So a telephone was that position is largely a services-based acquisition and off the Hallmarks of a talent-based acquisition our situation. We are requiring people requiring people for their skills their domain expertise particularly in the areas of Consulting and advisory and their client relationships particularly in the areas of brokerage as you can imagine jll being principally a Services based organization. Most of the Acquisitions. We do are talent-based but like other firms me to our on our digital Journey here and interested in you know, looking at some technology-based place as well. But for today, we'll be talking about talent-based Dominic. What are the key criteria in assessing? An investment and a talent focused acquisition and if you can describe how you would do the diligence, when we looking at Allen focused acquisition, we're looking at initially a lot of the same things would for any other acquisition in understanding the business model the historical and projected financials Revenue profit and so forth. So all of that is table Stakes, but I think what makes the talent-based acquisition more unique is we're really digging in understanding the employees and the culture one of the things that we are particularly attracted to our situations where the employees of the firm are also the owners of the firm and there is really strong alignment there which enables us to do some things with purchase price and earn-outs to create incentives going forward. We also want to look at how calm the employees are not just to a sale but to continuing on as employees to jail well as closing and that's pretty critical and so we would not be interested in a situation where a group of folks are looking to age. Cash on retired that would be pretty hard for us to get value out of that going forward. It's very important that we have that commitment so that we can realize the return-on-investment overall. Make sure there's an ongoing career path to leadership involved absolutely and no leadership is as well as all the employees and and that there is also a good training and development model in place as well because not everybody is going to be there forever. Not everybody's going to last forever and we need to make sure that there is appropriate processes in place for knowledge sharing and and training how do you approach planning the structure and valuation of a deal recognizing that the values in the employees and the biggest risk is that you do the acquisition and then as soon as you close everybody leaves in your left with nothing, so that's the risk that we're always trying to minimize and how we structure the deal from evaluation perspective. We still employed a very revenue and cash-flow based evaluation methodology, but how we structure that valuation is going to be different for talent-based deal. We tend to pay purchase price over time rather than all at once and use an ounce quite extensively now everybody's got their horror stories about her. Now. It's I'm proud to say by and large they most often worked for us. They've mostly been when when we of course have some scars as well, but they have been a very effective tool in talent-based Acquisitions to new creating that incentive for the owners slash employees to walk to really Drive growth going forward. And then of course, you also use retention mechanisms as well both time days and performance-based retention compensation models. Hips are keys on how do you make an orange successful try to imagine every possible scenario and plan for it in the purchase agreement and then you'll still miss something really gotta get that crystal ball out there. I think for us the key has been in our the way we structure our house has evolved quite a bit over time and and I think the biggest area of involvement has been making sure that we are holding the acquired business page. Accountable for things they're in their control. So that's really important to folks coming on board. They don't want to be measure of things that are well outside their control like corporate allocations and expenses that they have no visibility into you have to find a way to integrate but also ring-fence the business at the same time that can be a tricky balance and to making sure that the earn-out is aligned with what you actually want those employees focused on day-to-day. Well, I am not round the variables that team can actually control exactly go tip are there ways in which building a talent Focus structure could be leveraged and other Industries. Absolutely. So I think Tom m&a is really applicable to any Professional Services or business services firm consulting firms advisory firms interior design architecture and you name it. So anything that falls in that category is going to largely be focused on talent and they're going to likely employ similar structures and models to the things that yeah. Well does I think in the world of technology dead There's Channel based on Monday and it's more frequently referred to as Apple hires frequently C software companies and Technology firms acquiring talents, but I think the distinction there is in Business Services, you're requiring that challenge for exactly what they're doing today in the technology world, you might acquire that talent and redeploy them to other projects or morphed IP into something a little bit different. It's really using a way to get access to it too. Great development skills typically, but what those people might be doing post closing is more often than not looking looks a little bit different than what they were doing pretty closing. And what does that mean in terms of repurposing the home team that you're requiring or a different projects in the technology world with an echo higher soften an acquisition of a team and maybe plus some intellectual property intellectual property maybe is interesting, but they were not able to monetize it or really turn it into a business. And so the acquirer often will either sometimes scrap that intellectual property completely or take that intellectual property and build it into a wage. Thing else that they are building internally is a way to accelerate development. And so the team the acquired team may or may not continue to work on that IP more likely they're going to work on something bigger so and Google and apple and other of these types of Acquisitions. They usually got big projects already underway that they need talent for and they'll use that wires to go get that if you're not going to utilize the IP are you actually putting weight on that in your generation? I would think in those situations not so much know you're going to be really looking more hiring costs as your opportunity cost and then the deal structure itself is going to be more heavily weighted towards retention wage, maybe or now if there's if there's a way to measure Revenue going forward and some screwed way, but these deals are often very focused on in a position of just of the talent and then retention around that going forward them to keep that strategic ones on and discard the nice to haves and what ways does the talent focused organization have to change their processes and adapt. I think the most important thing is to keep it open a game. I'm willing to learn from the organizations that we acquire. There's obviously a reason why we're attracted to the firms that we acquire. They're doing something very well. It's important that we learn from them culturally and operationally so we have to be open to adapting our methods our business model.

talent-based Acquisitions Apple developer Dominic Allen Tom m&a Google Business Services Professional Services
"m. a." Discussed on M&A Science

M&A Science

05:39 min | 9 months ago

"m. a." Discussed on M&A Science

"Channel doesn't work. Now you speak to the art of experience and I appreciate that the 305 forget either request for Marco if you share the hbr article that you referred to in the beginning. Yes. So this is managing yourself as human zoom out and buy Rosabeth Moss Kanter. This is in the March 2011 issue dead. And I love that article because it's like you have to be like two sided like one eyeball on what I need to accomplish this week month now for the p&l and then the other eye has to be on my 17g. What am I learning towards? Where is this Marathon ending up working close to the hours. So last question I have for you guys is what's the craziest thing? You see that emanates hours. You gotta be wrong. Okay, so I was just telling this to kiss and and Rima the other day and individual plays also on this on this session and walk ins we were negotiating and a couple of years now and then we got into the negotiation the other party had brought in like very strong and hostage negotiators right season professionally trained hostage negotiators and integrators who capture all these bad guys have like integrated into the table and we would like dead. Dealing with here. Right but we went to the rigor of that was eye-opening and that deal didn't go through and then we had all kinds of repercussions thoughts on why this company was talking to those individuals and why they came at oh my god, let's point that territory because this was sort of everything about that was a little bit shady and I'm glad we got out and not got interrogated and weren't Acosta just weren't taking hostages interrogations of every day. How about you Reba? Oh my gosh. I wish we had more time in a couple hours our hands or maybe a line or something. But this experience was in Boston and I say that way for a reason and that's all I'm going to say and it was a massage in Boston and it was a demolition business office and we had this pig and we put a lot of lipstick on this pig and you know, we meet several pitches and finally we got some people that you know took the bite so this guy comes in and he was laid first of all wage. Me nervous and like walking around peeking Through the Windows. When's he going to drive in once he driving how many people so I'm in the conference room and I'm looking out and I see this may balk black beautiful my gosh beautiful beautiful car. This man steps out. He is, you know balding and he's maybe like six foot seven and he's big he's huge and he's got a full length mink coat on and it's got jeans and boots and he's wearing pinky rings and he's with a guy and this guy and this is a middle of winter. This guy has on a wife beater and he's off jeans on and I'm like, what is this? And then there's two Escalades behind them would like to spin our Wheels going and I don't know. I'm just a little village girl from Lake Mary in society events see this. It was just unbelievable. It was pretty crazy. And then we sat through the whole reading where this guy kept saying you think you gotta do the deal on my okay? Our what money you gotta do the deal. It was it was one of them difficult deals I've ever done in my life, but it closed and we sold the business and I'm glad it's my past but what an experience cuz I don't think I would have thought those individuals in my normal daily life in suburban Chicago land never happened. Yeah, right. I was like Wow mujhe video like no video the phones away like it was exciting the heart going a little but yeah, it was good though. They're called actually guys took anything in all the action used as time well, because covid-19 demedim a natural event that will be taken out of ebitda moving forward. So just you know, enjoy and do something fruitful. We will move Beyond this time compassion help your friends. There's a lot of people who need help and use the network to log. Exactly be good and be well, thank you. Great. Great guys, I appreciate it. Thanks so much. Thank you. Thanks so much for listening to this episode of m&a science. If you want to stay up-to-date on the podcast and all things m&a science, including our events. Make sure you sign up for our Weekly Newsletter packed Ami science.com m&a teams that use proven techniques deliver better outcomes agile. M&a is a science-based framework that focuses on a responsiveness adaptability and continuous improvements. You can view the whole book online for free at M A and if you're still using Excel trackers and old-school virtual data rooms that charge per page what a rip-off I highly recommend taking a look at deal room deal room is designed for collaboration with internal and external feeds off. Adeel room. To learn more you will also find lots of free resources templates ebooks guides. Thank you again for listening to emanate science. See you next time..

Marco Boston Moss Kanter hbr Rima Reba Lake Mary Acosta M A Chicago
"m. a." Discussed on M&A Science

M&A Science

10:04 min | 9 months ago

"m. a." Discussed on M&A Science

"Manager, that's a very viable path. It goes to the customers close to the product and save the deal also, so I would say be you and I'll just give a personal example. I actually took a job that had a job description that was two sentences and you know, I laugh at them because gosh, you know, that's that's crazy. But what I did end up doing is looking at the description and saying to myself, oh my gosh. This is a blank mandate. I can totally do this thing. I don't even know what the thing is, but I know I can do it. I have young children. I tell my kids and I tell my family members and young people just being you, you know, take a risk. There's never a right time to do the right thing. She just do what you need to do and take the opportunity and I think there are opportunities that are found in the market. I think there are rules that are available in the market that sometimes many people. Smith's because it wasn't written in the right way. It was positioned in the right away. So I would look for opportunities that are unique that give you a unique perspective because that's at the end is what I'm going to create the value differentiation and you so, you know you and your little different have a lot of fun because that's that's okay. I think it actually created for a very differentiated advantage in the market. What about sourcing if I wanted to get away from just asking my friends my circle and just internal thoughts are as another resource, but just out about looking around what resources would you recommend looking into? So I'm come from University of Chicago and back to have the Davis Center for leadership and strategy and they put on some interesting things. Like for instance. Once they have like a ballet dancer and they have the head of FBI in Chicago Bulls. About leadership and what it takes and one of the things I learned from that experience is that interesting people seek other interesting people and so I think having conversations and find venues where people are looking to find something different something intriguing and really selling that proposition. I think people get really excited by it. And I know I've been able to get some wonderful people through that those kinds of experiences and it really just bore out of you know, what do you do what's going on? You know, what's real is yeah, you know what, you know, what would you do on a Thursday, you know, so on and so forth. So those are the kinds of things I think that lead you to the conversations that gets you to an understanding of an individual and I think that's what you have to get to. Yeah. This is hard work right off totally agree with that. I think you need to also look in the unconventional places like Remus. We are not looking the conventional places red and the ability to spot Talent is that, you know, can this guy or gal? I identify Trends wage? They comfortable with uncertainty and ambiguity or tourists enough and they move as the deal requires, right and oh my gosh, so I have to I have to like interrupt you and just a second thoughts so important because this is Sookie deal individual is the case driver of the organization and not a lot of people understand that but Beauty on a point. That was a very bright in my head, but obviously didn't come out. But yeah, you're absolutely right you are the person has friends on or that's the number one race horse of the CEO and you have to drive that deal is nobody else is going to write everyone else is usual p&l. And yeah, I'm following a process and turning out twelve widgets a week always good. So yeah, totally agree. I get excited about that hundred people who do very well if you give them volumes of data to analyze they would powerfully job in two days. It's like so yep. Some job in two hours, right? And exactly that's yes right people like to talk about all we need this analysis. We need best data. We need that data and I'm like in ten minutes, you know, whether a deal makes sense or not, right? Because the way that you exactly structure it in the financial model would just the exact assumptions. It's probably not how it's going to come out at the end. The sausage is a little different at the end of the machine than what you put at the beginning it just that's inherent in the process. And then once you've done enough Selena deals with experience, you can say okay this type of deals. I need to judge just got Outta. Right channel doesn't work. Now you speak to the art of experience and I appreciate that the 305 forget either request for Marco if you share the hbr article that you referred to in the beginning. Yes. So this is managing yourself as human zoom out and buy Rosabeth Moss Kanter. This is in the March 2011 issue dead. And I love that article because it's like you have to be like two sided like one eyeball on what I need to accomplish this week this month now for the p&l and then the other eye has to be on my 17g. What am I learning towards? Where is this Marathon ending up working close to the hours. So last question I have for you guys is what's the craziest thing? You see that emanates hours. You gotta be wrong. Okay, so I was just telling this to kiss and and Rima the other day and individual plays also on this on this session and walk ins we were negotiating and a couple of years now and then we got into the negotiation the other party had brought in like very strong and hostage negotiators right season professionally trained hostage negotiators and integrators who capture all these bad guys have like integrated into the table and we would like dead. Dealing with here. Right but we went to the rigor of that was eye-opening and that deal didn't go through and then we had all kinds of repercussions thoughts on why this company was talking to those individuals and why they came at oh my god, let's point that territory because this was sort of everything about that was a little bit shady and I'm glad we got out and not got interrogated and weren't Acosta just weren't taking hostages interrogations of every day. How about you Reba? Oh my gosh. I wish we had more time in a couple hours in our hands or maybe a line or something. But this experience was in Boston and I say that way for a reason and that's all I'm going to say and it was a massage in Boston and it was a demolition business office and we had this pig and we put a lot of lipstick on this pig and you know, we meet several pitches and finally we got some people that you know took the bite so this guy comes in and he was laid first of all wage. Me nervous and like walking around peeking Through the Windows. When's he going to drive in once he driving how many people so I'm in the conference room and I'm looking out and I see this may balk black beautiful my gosh beautiful beautiful car. This man steps out. He is, you know balding and he's maybe like six foot seven and he's big he's huge and he's got a full length mink coat on and it's got jeans and boots and he's wearing pinky rings and he's with a guy and this guy and this is a middle of winter. This guy has on a wife beater and he's off jeans on and I'm like, what is this? And then there's two Escalades behind them would like to spin our Wheels going and I don't know. I'm just a little village girl from Lake Mary in society events see this. It was just unbelievable. It was pretty crazy. And then we sat through the whole reading where this guy kept saying you think you gotta do the deal on my okay? Our what money you gotta do the deal. It was it was one of them was difficult deals I've ever done in my life, but it closed and we sold the business and I'm glad it's my past but what an experience cuz I don't think I would have thought those individuals in my normal daily life in suburban Chicago land never happened. Yeah, right. I was like Wow mujhe video like no no no video the phones away like it was exciting the heart going a little but yeah, it was good though. They're called actually guys took anything in all the action used as time well, because covid-19 demedim a natural event that will be taken out of ebitda moving forward. So just you know, enjoy and do something fruitful. We will move Beyond this time compassion help your friends. There's a lot of people who need help and use the network to log. Exactly be good and be well, thank you. Great. Great guys, I appreciate it. Thanks so much. Thank you. Thanks so much for listening to this episode of m&a science. If you want to stay up-to-date on the podcast and all things m&a science, including our events. Make sure you sign up for our Weekly Newsletter packed Ami science.com m&a teams that use proven techniques deliver better outcomes agile. M&a is a science-based framework that focuses on a responsiveness adaptability and continuous improvements. You can view the whole book online for free at M A and if you're still using Excel trackers and old-school virtual data rooms that charge per page what a rip-off I highly recommend taking a look at deal room deal room is designed for collaboration with internal and external feeds off. Adeel room. To learn more you will also find lots of free resources templates ebooks guides. Thank you again for listening to emanate science. See you next time..

University of Chicago Boston Selena FBI Smith CEO Moss Kanter Chicago Bulls Rima Lake Mary Davis Center M A Sookie Reba Marco Chicago hbr Acosta
"m. a." Discussed on M&A Science

M&A Science

07:51 min | 9 months ago

"m. a." Discussed on M&A Science

"And Industrials looking for ten years of having experienced. Today's discussion is a talent Gap in m&a. Everyone mentions and sells on the high failure rate having a at the end of the day doing deals is all about people the right strategies key, but more important is having the right people to execute I've seen a myself is a lot of m&a teams that aren't built out to do the deals. Well today, I'm bringing in experts with experience to wait on this so to kick things off was changing. The market wage is requiring a different need and talent you want to kick that often. Yeah, absolutely. So as I always say the business has changed drastically over the last ten fifteen years. I think I found particularly has remained the same as the same rigid playback same rigid process up front. Let's go back to Union and was changed. There's a number of different trends that are impacting. How a minute. True too wet. There is a delineation between the M&M process and value creation when I see how many process it's all the usual stuff integration management even planning check out. As Pearson energies and things like that. I think that has got his own place structure rigorous discipline. The value really comes in from creating value from the functions or creating value from a foundation of Destruction and functions. So the value Creations is really created by strategy and operations while the remote turns the correct. So that's one big Trend second many people sort of fall off the Chevrolet place in the choir, right? So the definition of a ceramic wire was doing consolidation Burgers back in the first part of this Century, right and now you have consolidation murders you imagine dragons you back wires. You come out Integrations and you name it if the people will cost around this, you know, occasional serial frequent. So I think there's no serial acquirer you a Serial acquirer of a certain age are given point in time. So you're a universal blame doesn't really apply right you live emerging disciplines like technology diligence and Commercial diligence in wargaming. I mean, lots of people are dead. Digital stuff now so bringing the technology is where the value is locked. You need to understand the stability the interoperability performance scalability all of that. There's that wage happening execution under uncertainty is a big deal. Right? I mean the market environment is changing does a whole bunch of structural changes take a look at go with great. You can run a play with now because you're off these are modeled in for a deal that was in flight. And now it's kind of, Parts. What are you going to do? If you run your mercy real flavor? I don't think that's going to create value bother to more friends. One of them is that I think synergies starting to mean less now, it's really about shareholder value traditionally people thought about costs energy Revenue Synergy. Now, you're talking about sequence of reciprocal structural beta synergies and all of that rates. There's a lot of the stuff going on the biggest change in my mind and how to create values the breakdown of functional integration and dividend destruction integration. Also integration was when you sort of Rome, Companies together combined the functions groups and combination of value to cut costs created a secret skill but you can't take that approach and move it into the structural part of it off industry structure and destruction is altering the landscape altogether, but the thing is about structural synergies and revenue synergies very you need to get the whole Machinery cross-functionally firings. You can figure your I move value everything is changing. The Advent of platforms is the new thing for Punk of the values outside the firm right? Think about an Uber or Airbnb your community management is the new HR rate. Your marketing is Dave roles and all these things know how do you contain functional integration approach moving to structural to a platform life has evolved a little bit right? So that's sort of where I see many of these Trends and deviating from the best one of the changes you see in the market Reba. I would just say very simply that I think the financial engineering element in deals has been optimized so dead. Really individuals have to look harder to have to think harder and they have to really think about what is the Strategic value of what it is though that we have to do in terms of a deal structure and I think a lot of times what happens is that people, you know think of a deal is just making a widget and it's not making a widget you really have to think about how does this fit into the organization? What's the optimal structure for the organization to take advantage of the initial investment Theses that actually brought the deal forward. I also think another important thing. I want to pull out the Newtons folks who was a need for operational leadership. They really need to be in stride with your m&a team group lead. Whomever. If you don't have that kind of operational by in fact, I'm not going to see any of the results that sold the deal in the first place and if you don't have that, you're really setting yourself up for failure and I think a lot of times people think oh, you know, it's Jeff. Great deals a great multiple and it's going to be but really to me I didn't have to take a step back and think about how does it fit into the bigger picture? I really gets to one of the core competencies. I think you know, it's a nice to have quite frankly in an individual was running anime. M&a excuse me is really the ability to zoom in and then Zoom act so long. You gotta know the nuts-and-bolts of deal itself, right? And there's a hbr study that's based on this but I will apply it to M&T here is the ability to zoom. In fact the mechanics the innards of the deal, but then be able to zoom out and say well this is how it fits into the bigger story and you gotta be aligned to the bigger story and every organization has a story and if you don't know it then I thought that's an issue in onto itself because that's why you should be doing the m&a. So there you have it. That's what's changing. So, where is he a lot of different things happening with the deal's off? Which is around the deals. I think this is a good segue into what are the specific skills that are required for this current changed Market, you know absolutely can take a start for that. So as the deals of moved from a consolidation into the stuff that I just talked about right across industry has kind a countdown image degrees of freedom. If you think about the world functional expertise, if you are doing Finance ideas are real estate and supply-chain to an extent largely get across Industries and understand the Emily process and the process is very similar right A lot of these things are now being done in a front office where the product is fundamentally different. You cannot go to a company or some executive and say hey, I'm a product development expert type across Industries the chemical formula of a drag off the manufacturing process of refrigerated building software very different. So because those are different the configuration of the front of his altars very drastically, right yourselves is different in marketing is different you prod Customer experience pretty much everything becomes different and you use this model has emerged around that to the industry is produced which was really important at the top is now kind of sinking to the boss not saying something with industry expertise, but that's becoming more and more important at the moment in terms of the skillset. Also, the center specific stuff is emerging because business models are song even even inside if you take high-tech largely played in a hardware model or semiconductor model in a software model or very different so that it really need to understand the business model on how the deal is cattle-raising a go-to-market motion and a product and able to scale that to take the structural forces and create the revolutionaries is.

m&a Airbnb Newtons Rome executive Dave product development Jeff
"m. a." Discussed on M&A Science

M&A Science

07:15 min | 9 months ago

"m. a." Discussed on M&A Science

"Patel founder and CEO of deal room. I spend ten years and have been advised her and after seeing a whole slew of industry-wide challenges in 2012, or I decided to pursue the dream and build the greatest software to manage emanate today joining me is nitin Kumar CEO of a pandemic name is a 20-year m&a veterans worked on over a thousand emails on all sides including emanate strategy commercial operational technical diligence integration separation. Most Diesel Performance Improvement for private Equity. Also joining me. Today is Thursday Franklin resident of Franklin Consulting Services. Rhema has held several corporate development roles and Industrials looking for ten years of having experienced. Today's discussion is a talent Gap in m&a. Everyone mentions and sells on the high failure rate having a at the end of the day doing deals is all about people the right strategies key, but more important is having the right people to execute I've seen a myself is a lot of m&a teams that aren't built out to do the deals. Well today, I'm bringing in experts with experience to wait on this so to kick things off was changing. The market wage is requiring a different need and talent you want to kick that often. Yeah, absolutely. So as I always say the business has changed drastically over the last ten fifteen years. I think I found particularly has remained the same as the same rigid playback same rigid process up front. Let's go back to Union and was changed. There's a number of different trends that are impacting. How a minute. True too wet. There is a delineation between the M&M process and value creation when I see how many process it's all the usual stuff integration management even planning check out. As Pearson energies and things like that. I think that has got his own place structure rigorous discipline. The value really comes in from creating value from the functions or creating value from a foundation of Destruction and functions. So the value Creations is really created by strategy and operations while the remote turns the correct. So that's one big Trend second many people sort of fall off the Chevrolet place in the choir, right? So the definition of a ceramic wire was doing consolidation Burgers back in the first part of this Century, right and now you have consolidation murders you imagine dragons you back wires. You come out Integrations and you name it if the people will cost around this, you know, occasional serial frequent. So I think there's no serial acquirer you a Serial acquirer of a certain age are given point in time. So you're a universal blame doesn't really apply right you live emerging disciplines like technology diligence and Commercial diligence in wargaming. I mean, lots of people are dead. Digital stuff now so bringing the technology is where the value is locked. You need to understand the stability the interoperability performance scalability all of that. There's that wage happening execution under uncertainty is a big deal. Right? I mean the market environment is changing does a whole bunch of structural changes take a look at go with great. You can run a play with now because you're off these are modeled in for a deal that was in flight. And now it's kind of, Parts. What are you going to do? If you run your mercy real flavor? I don't think that's going to create value bother to more friends. One of them is that I think synergies starting to mean less now, it's really about shareholder value traditionally people thought about costs energy Revenue Synergy. Now, you're talking about sequence of reciprocal structural beta synergies and all of that rates. There's a lot of the stuff going on the biggest change in my mind and how to create values the breakdown of functional integration and dividend destruction integration. Also integration was when you sort of Rome, Companies together combined the functions groups and combination of value to cut costs created a secret skill but you can't take that approach and move it into the structural part of it off industry structure and destruction is altering the landscape altogether, but the thing is about structural synergies and revenue synergies very you need to get the whole Machinery cross-functionally firings. You can figure your I move value everything is changing. The Advent of platforms is the new thing for Punk of the values outside the firm right? Think about an Uber or Airbnb your community management is the new HR rate. Your marketing is Dave roles and all these things know how do you contain functional integration approach moving to structural to a platform life has evolved a little bit right? So that's sort of where I see many of these Trends and deviating from the best one of the changes you see in the market Reba. I would just say very simply that I think the financial engineering element in deals has been optimized so dead. Really individuals have to look harder to have think harder and they have to really think about what is the Strategic value of what it is though that we have to do in terms of a deal structure and I think a lot of times what happens is that people, you know think of a deal is just making a widget and it's not making a widget you really have to think about how does this fit into the organization? What's the optimal structure for the organization to take advantage of the initial investment Theses that actually brought the deal forward. I also think another important thing. I want to pull out the Newtons folks who was a need for operational leadership. They really need to be in stride with your m&a team group lead. Whomever. If you don't have that kind of operational by in fact, I'm not going to see any of the results that sold the deal in the first place and if you don't have that, you're really setting yourself up for failure and I think a lot of times people think oh, you know, it's Jeff. Great deals a great multiple and it's going to be but really to me I didn't have to take a step back and think about how does it fit into the bigger picture? I really gets to one of the core competencies. I think you know, it's a nice to have quite frankly in an individual was running anime. M&a excuse me is really the ability to zoom in and then Zoom act so long. You gotta know the nuts-and-bolts of deal itself, right? And there's a hbr study that's based on this but I will apply it to M&T here is the ability to zoom. In fact the mechanics the innards of the deal, but then be able to zoom out and say well this is how it fits into the bigger story and you gotta be aligned to the bigger story and every organization has a story and if you don't know it then I thought that's an issue in onto itself because that's why you should be doing the m&a. So there you have it. That's what's changing. So, where is he a lot of different things happening with the deal's off? Which is around the deals. I think this is a good segue into what are the specific skills that are required for this current changed Market, you know absolutely can take a start for that. So as the deals of moved from a consolidation into the stuff that I just talked about right across industry has kind a countdown image degrees of freedom. If you think about the world functional expertise, if you are doing Finance ideas are real estate and supply-chain to an extent largely get across Industries and understand the Emily process and.

m&a founder and CEO Franklin nitin Kumar Patel Rhema CEO Franklin Consulting Services corporate development Airbnb Newtons Rome Dave Jeff
"m. a." Discussed on M&A Science

M&A Science

05:25 min | 9 months ago

"m. a." Discussed on M&A Science

"Not sure if you saw the Google spreadsheets demo where they have a similar example where you can essentially ask a spreadsheet of data question it all synthesized and give you a response back. Do you foresee the valuation of firms diminishing down due diligence to ongoing Kovac crisis. If yes, you see and recommend this to be the right time the eat deals if you exclude companies in financial trouble. The first question is who wants to sell their company in the cold with crisis if they are financially viable, so it's not a market out there. We can say Oh No Doubt With this strategy is can easily buy cheap companies if they don't want to sell you because they want to buy evaluation and you have a tough time to cherry-pick very good companies were very low price again, unless they are in financial trouble and you come in as a savior. It really depends on the specific market for Target companies that you're looking at even if the valuations quote unquote in theory will go down cause all the projections Etc might be not very good with three crisis numbers off. It's really I think still a tough Market Because by the founder you don't want to sell if the market is down maybe see more companies using automation during the covid-19 shut down or has it slowed down prices no matter if it's Financial or health or others is always creating pressure for companies to increase productivity to lower coughing. And it usually leads to an increase in Automation. And that's also what we see today from an sap point of view as a p has always been sailing through Christ is you know, very healthy manner because crisis creates need for more automation. There's no question about it. I would agree with I think that's what I've heard quite a few times. I wonder what your thoughts are in a meeting your m&a process and how you may be able to do trending across multiple Acquisitions. So they are tools out there. If you look at for example companies like mid-month or others that basically provide you with portfolio management and overview of potential careers and different cases and also an Athletics across different fields that will be done that are in due diligence and our integration to have like an end to Process Management tool. They will be a lot of opportunity wage. Is to compare different companies different integration projects different swim Lanes in the pre deal faces for the selecting different companies. I think that is all the way out there. I haven't looked at very detailed what exactly is there, but I've seen some glimpses of Frosty across process analytics that it used to know, are improve things that you're doing in different views last question doctor Carl. What is the craziest thing you've seen in m&a? Yeah. I think one of the craziest thing is what I call a cascading Integrations to basically acquire a company who has acquired another five to ten companies and you want to integrate the company, but what happened in the past the other thing companies were in integrating so you may have to integrate eleven companies instead of one so that certainly the huge challenge to integrate a lot more companies entities operations than wage. 4C before you jump into two Villages that tends to lead a pretty big mess. The girl. I really appreciate your time today in this conversation may be coming out you want to sort of add a little color or where people can learn more about it. Very simple go to my website of the call Pop. And there will be information about this great job. Thank you very much. Thank you for taking the time to explore the world of m&a with our podcast off. Please subscribe for more content and conversations with industry leaders. If you like our podcast, please support us by leaving a 5-star review and sharing it. I enjoy hearing feedback and connecting with our listeners home. You can reach me by my email. It's kissan k i s o n at deal room.

m&a Google doctor Carl founder Target
"m. a." Discussed on M&A Science

M&A Science

07:58 min | 9 months ago

"m. a." Discussed on M&A Science

"Improved with age. A technology. Can you tell me about some of the tools that can help it's hard to get an overview right now what tools out there? So one thing that's definitely missing is transparency on which tool available for which tasks and how do they compare today? Every practitioner would have to go get all the tools out there and then find his own decision Matrix and then decision that's a very tedious task what we need and you mentioned that and you run this community as an exchange of information of experiences just feedback from using things like conflict analysis or analytics or natural language processing of documents in the data room and share it in the community. So in Germany, we have a very active Community with several working groups and specific topics regarding automation since about two months. We also publish some of the results also an English language from the phone number. Association of m&a in our magazine which is called m&a ramble on the website M A Midas review. We could have a look there. It's a running discussion should be applications Etc. Yeah, that's actually really interesting how you have the network and you're sharing some of these ideas with m&a science. The initiator was the fact that all these drug companies have their own approach and I really focus on a lot of the people challenges that seems to be some of the most difficult things to really solve. I don't think you could automate that stuff. I think there are certain things where we look at maybe more of the Box activities like bear. Hey, we're looking for some pretty obvious things that are essentially the Doomsday tomorrow type of risk and hey, we got tons and tons of employment contracts customer contracts to really suck lies and look for the variances which may identify other risks the human the part. We still have to do that and I think that's been the area of focusing around the practices there, but it's also certainly let's say you have in fact Since you have a question, something seems to be questionable. What's happening around the customer. Let's take a fantasy name, like for example, and you say hey this customer Porsche what's cooking and you should talk to the person at the Target company even in this situation. You could have support from a tool that shows all the relationships around this entity that bush and all the information we have in the data room to give you a background without having to look through their hundred thousand documents in the data room found this customer Bush and his complaints for example, when drilling deeper into this topic so clearly person to person is important but it's also augmenting and assisting in using all the data in the data room. That was single person is not able to capture as a home. Yeah. That's actually interesting view when you look at Autumn page. And where are the essential goals out of that? The perfect automation would be basically two things you have an end-to-end platform or data integration layer. You would have a job opportunity to plug in different specific tools for specific tasks into that and you're able to apply all the magic that we talked about evil. And also coupling data from different phases in the m&a process go back and forth and use the capability to not only compute but also analyzed interpret large amounts of data to ensure you're basically cutting out a lot of the Tactical craps. So people can focus more on the high-value activities actually create value. Absolutely. Have you seen my interest in this or are people pretty satisfied with their current structure? Yeah. There's a lot of interest in this the key thing that keeps people in m&a and Cooperative off. Documents from rapidly adopting tools is it takes time to get a little more transparency? What's cooking in the market and also some time to prep bullet proof that the solution is really the right one to use for screening or other activities and m&a process and there's lots of screening tools out there with lots of automation but not hard to figure out today without having time to try ten different solutions. What's the right solution for you? And this is where we need to put in some work and share experiences this information to have an easier time to select Solutions which are right for the tasks that you want to automate. I'm curious if maybe some of the most recent things you've worked on that you see some pretty early signs that you're hopeful around. I think that we will see widespread use of specialized end-to-end m&a project management platforms home. Which are with always all the data room, but they basically run from a let's say portfolio management strategy screening all the way through the integration either the data will provide us kind of fan out in the other phases or specialized project management system providers will provide that Slayer and would need to plug in both rooms that's already there. And that's a good starting point to further specialized automation tools, like for example legal analysis of contracts that data roam. It's also already there. So a lot of good stuff that's interesting. I think got a good point where there's always that Central repository of information, but then extension comes in forms of a wage is to really be able to plug that in and Central we're starting to see that but then I think that also enables independency of companies to really focus on Niche technology, but then still bring it back. Into that essential platform Kia basically to know what are the data? I need in different phases for example in screening to compare different companies cetera and then apply off everything on top of that faced on a quote unquote standardized API model. So that's where we should be going. Hopefully in the advisor more challenging to integrate the businesses post office day and activities involved in the course of preeminent. That's a very good question and it's a widespread problem. I think that what you have to do is basically two months Focus as early as possible on questions and issues and problems and budgets and would have you regarding the integration. So in SAP with massively change what we do I think you do diligence we focus a lot on how we can make the integration successful. So we look at the target, of course to all the target due diligence, but it's dead. Time we also do a preliminary integration planning and also trying to harden our plans to make them bulletproof. Make sure we have the budgets and resources of things. We see coming up in post-match integration. And we do one thing which is we have the same people for example in product due diligence and in the integration project regarding product aspect and that has increased the position of due diligence results a lot because the same person who has to stand the challenges in the aggression based on the analysis that you have done in the due diligence and that helped a lot to ease the pain that many companies in integration. If you start early if you have the same people doing that that helps a lot too quickly improve what you do in due diligence to do better better. Each.

m&a bush Germany Porsche advisor SAP
"m. a." Discussed on M&A Science

M&A Science

05:32 min | 9 months ago

"m. a." Discussed on M&A Science

"There is anything that talks about how HR practitioners can do due diligence I know because I've looked and I've attended conferences I've attended classes and there's really not a lot of emphasis on due diligence. This book actually came out of presentation that I did for the Conference Board during one of their HR emanate conferences and I sat down and I put together the skeleton of my thoughts about what makes perfect due diligence and it was so well. Received I was asked to give that a couple more times to the same audience and I went. Gosh, there really is a need here then so I took those ideas and I took the best practices both from the work that I've done and the things that I learned from others that pure learning and I put it into a hundred and seventy eight pages that I believe any age are emanate practitioner could take and really plug in their due diligence playbook. And again, this isn't necessarily something on a large serial acquirer needs because they know how to do due diligence something that individual practitioner that person who is part of a company that is looking to buy they can take the lessons learned in this book and hopefully plug it right into what they're doing as HR practitioners so that they can help make deals more successful. Point I was really interested in the views you brought in the book because it sort of gives a lot of light to what the responsibilities are for an HR practitioner. Amazon I found it very valuable for those that may not directly be an HR role but can get a much better understanding of it because it is really important. On when we look at the studies that are out there and these aren't studies by HR groups, a organizations obviously have a self interest in making sure that HR as a profession gets a little more respect out there. But these are group's like in in Mackenzie and other organizations that look specifically at emanate and the financial aspects, and they all say that we don't pay enough attention to the people aspects of a deal at the right time I talked with a lot of practitioners that don't get involved in deal until after announcement has happened and then they're scurrying to play catch up and there are. Really Limited opportunities after announced to do any kind of mitigation or planning work, sometimes you get stuck with things that were put together even as far back as the L. A. Y. That really didn't belong in the L. A.. Y.. But there's nothing you can do to fix them if hr is brought in late and so it's not just HR people saying this is folks that are in the world of emanate that are saying you gotta look at the people aspect sooner, and hopefully with this book, it provides a roadmap to those things that we hr practitioners can do to help make deals more successful..

Conference Board Amazon Mackenzie L. A.
"m. a." Discussed on M&A Science

M&A Science

03:45 min | 1 year ago

"m. a." Discussed on M&A Science

"Deal strategy effect company alignment. I would think of this one. Let me. Turn this around bit. I to me. Deal strategy has got to be an extension of the overall company strategy so I think we discussed this little. Earlier in conversation I think it's essential to understand when you're developing your deal strategy both your general Aminat- strategy, and then your strategy for specific deal is you know is. Does this meet the overall? Corporate Company. Strategy M A just a tool to achieving that broader. Strategy it's ultimately you know critical to achieve any the deal success because you're deal can and and will be judged and should be judged in the context of your company's strategic. Objectives and goals and so to answer your question, maybe if you're her deal, strategies well aligned with your corporate strategy, then alignment between your deal strategy, and the other aspects of Your Business and the groups within your company should be. It should take care of itself. And on the flip side of your strategy. Is mismatched with your corporate strategy. They're going to be challenges in getting that deal done, and maybe in a generic sense that particular deal shouldn't get done. So there should be alignment just in general between the company's overall strategy with the specific deal strategy to make sure we get the best outcome. Yeah I. think that's the starting point I think that's the starting point. When you're developing the strategy, it's got to be extremely well. It's got to be alive, not extremely like it. Just period has to be aligned with the overall corporate strategy. Russ I'm probably going to skip like some of the integration stuff because we're like got plenty of continuity. Just WanNa. Make sure you got. You got whatever you want to the. This a whole nother interview talking lining. Corp Integration and we talked about some that we I I I. Try to you as you've probably noticed. Integration to me is is I. think it comes from You might recall from our prior discussion I I lead the integration function at sap for a couple of years, and that experience was invaluable to me so now these integration aspects or kind of injected. Throughout the deal process for me, and and you know throughout the like the due diligence process for example like. Learning in planning is happening. Those stages and I didn't do as well a job at that before i. You know had some. Direct involvement and immigration, but I I you know I saw the light and I think it's incredibly important so I tried to weave that in a lot of what we talking about in the. You know maybe the core when you think of as Koru. Function well and that's why I think. This interview complements the one. I recently did with Menje. WHO's access go guy. That stood up integration sort of function at as islands. So that, and that's why I'm curious, even putting you together on on some kind of just like a small little sort of fireside or panel type of discussion to talk about that so that we got both US coming at it. You obviously had immigration experience, too, but you know that's kind of his more sort. Told background to enter well. Let Up, let me ask you this. What's The craziest thing? You've seen an ma well. In twenty years of doing banana come across a lot of things that I would consider be pretty crazy, and and those include discoveries and diligence and crazy requests are arguments that are being made and. Of course of negotiations I might be tricky for me to..

Corporate Company Russ US Menje
"m. a." Discussed on M&A Science

M&A Science

05:25 min | 1 year ago

"m. a." Discussed on M&A Science

"Is on what the challenges are going to be there, and also, if they're international in various different countries, and then also, if you have folks like on sponsored visas and things, that's where one scenario may May not allow them to be able to continue that same level of sponsorship, so it's interesting to see how some of these other factors outside of tax implications can affect that. On how to structure the deal, yeah I, the fact on from an HR perspective to that in many cases an asset deal. You actually have to hire the employee on day. One the acquisition, so there's an entire other kind of work strain that has to happen for the buyer around on boarding. These individuals really on day one on the in stock acquisition. That doesn't necessarily have to happen right. The those employees will remain part of that legal entity that. The buyer just acquired and so there's a longer process to move them over to. You know from an integration standpoint. Move them over to the buyers, systems and stuff, but the NAPA the most of the time you you, you end up actually having to fire the the employees that close and hiring them kind of on a simultaneous basis. Yeah, so that's of part of why There's a lot of things factor there on the HR side. Apple, what are representations and warranties and the context of a and why are they important? Definitive agreement, you're really going out on what is going to be bought and transferred from the seller to the buyer and what representations and warranties. are that they per precisely described the state of the business. And circumstances of the transaction to the best of the sellers knowledge, and sometimes you know there are things there are legal items called or legal -nology, which is called. Knowledge Paul Fires where the represent. The seller will try to represent that they only know so much about certain facts or of the business, but That's how negotiating standpoint, but anyway these these facts are arrests are traditionally broken into two categories, really based on important, so there's fundamental reps and our general reps fundamental are more are the most important going to general wrestle, so fundamental wraps can include facts.

Paul Fires NAPA Apple
"m. a." Discussed on M&A Science

M&A Science

05:31 min | 1 year ago

"m. a." Discussed on M&A Science

"Today we're GONNA. Talk about how buyers protect themselves and their business case in an emanate transaction identity. Then I'm doing well. How are you doing well? Can you maybe kick off with just a little bit about your role NCR? So I am a senior manager in corporate development at NC are I've been here for about two and a half years I'm on a small team that focuses on executing leaderships, inorganic strategy at NC are so great, my job between two categories, really pipeline, management and execution. So unlike many other corporate development roles. My job definitely does not focus as much as deal sourcing. He'll come to US via bankers or or strategic plans developed by leadership team members, so with that, said my job around pipeline management is really managing the relationships with those bankers, and and working with those leadership members to really identify what we want to buy or what we want to sell as part of their overall growth strategy, and then on the deal execution side were talking more internal processes coordinating Adila Jen's. Jen's and any type of follow for post closing is what kind of deals have you worked on? Yeah, so before NPR worked in investment banking and I did working for development at a different firm as well before NC are so I have some advisory experience as well as some corporate development experience at a different firm, but NPR's been the most active you know role that I played on in terms of. 'em In a, and and here at NC. Are you know we've announced a couple of deals? I've been here, but couple that I would. Highlight is St- stock with acquisition and way twenty eighteen are jet aquisition. Twenty eighteen or three acquisition in twenty, nineteen and our. Acquisition in late twenty nineteen, so all those are acquisitions and. My my parents definitely is more around the acquire inside of the deal versus divest or even merger, technically Jay was a merger as a public deal, but even then it was still in the structure of an acquisition was like the hardest thing for you..

corporate development NC Adila Jen NPR NCR senior manager Jay
"m. a." Discussed on M&A Science

M&A Science

04:33 min | 1 year ago

"m. a." Discussed on M&A Science

"And one of them eventually gets promoted to leading integration where he's bringing the different work streams together, and starts reconfiguring their whole approach around integration to follow an agile approach and then eventually. They get more involved earlier in the process, because at that naturally gravitates within gration person, essentially eventually lead diligence, and then the whole emanate process becomes very agile based where we're already seeing that happen, and I think this is the next step forward for annonay. Because we look at manufacturing, what propelled manufacturing industry was lean manufacturing innovation in the process will propel the. The software industry was innovation and their process with Agile and the next step is for emanate evolve their process. Yeah, that's good is good. You know case on, not just go back to just one step though is that you know it's just a little bit earlier on this whole notion of capability now we all understand least I think we understand what accountability means, but. I think the thing about agile and it. Somebody mentioned it. Book is a accountability. This combi becomes deeply personable units like you really are accountable for what you do, and the whole structure of the way it works sensitive. gets that whole kind ability than. Don't you think that potentially with you introduces? People are GonNa, say just to confronting you'll. You'll really are putting me on the spot here and that doesn't look good in front of other people. I don't like this I. Don't want to be made this accountable. Already signed that particular circumstance. I think that's a culture right because if you can evolve your culture to have a high level of accountability and transparency, that's what agile is all about. To to be able to have a stand up and know what everybody's priorities are, and what they're working towards, a really makes you feel part of a pro productive team. That's making great deal of progress and you. Everybody understands what their contributions equate to so I think there there isn't anything shy away from it. It does take a bit of getting accustomed to buy and the end of a a creates much better team, working environment just to have that level of transparency in hold, higher level accountability by making those responsibilities, and what the different tasks. Everyone's working on transparent. And I agree with you. The funny thing is and here's the paradox I think is a whole lot of people. Talk about accountable as he knew not. GonNa get anybody says all we need. You know Sunday to counter. Accountability, we need accountability. Everybody will say in say absolutely. We got to be accountable for everything. Would we do? Make sure we drive down the individuals, but it's the difference between what people say in what people do, and I found out of my experiences that people talk about accountability La until the actually put on the spot. And that's the very issue very confronting. To be phone, prices and be put on the spot to be made accountable and I.

La
"m. a." Discussed on M&A Science

M&A Science

03:10 min | 1 year ago

"m. a." Discussed on M&A Science

"It's probably <Speech_Male> just more one of <Speech_Male> those items where <Speech_Male> it's <Speech_Male> It's not shared <Speech_Male> is just one of <Speech_Male> that that <Speech_Male> we work through <Speech_Male> a think through as we're <Speech_Male> working through the valuation <Speech_Male> now. <Speech_Male> We'll save. <Speech_Male> We're doing a <Speech_Male> independent <Speech_Male> valuation. <Speech_Male> <Speech_Male> Maybe outside <Speech_Male> of transaction, <Speech_Male> it may <Speech_Male> add to the risk. <Speech_Male> Profile <Speech_Male> that we look <Speech_Male> at for the company <Speech_Male> and. <Speech_Male> Others always sort <Speech_Male> of a subjective <Speech_Male> risk element <Speech_Male> that <Speech_Male> we have <Speech_Male> the ability <Speech_Male> to add in. If <Speech_Male> we think it's appropriate, <Speech_Male> is not something <Speech_Male> that we see <Speech_Music_Male> every day. It's <Speech_Male> not <Speech_Male> sometimes not even every <Speech_Male> year, but <Speech_Male> you know every once in a while <Speech_Male> I can think <Speech_Male> of a couple of transactions. <Speech_Male> That I've worked on <Speech_Male> where we go out. <Speech_Male> We with vantage an <Speech_Music_Male> satellite <Speech_Music_Male> man. <Speech_Male> This is <Speech_Male> They're struggling <Speech_Music_Male> to explain the business <Speech_Male> to the US <Speech_Male> and and <Speech_Male> trying struggling <Speech_Male> to be consistent <Speech_Male> and things of that <Speech_Male> sort whereas. <Speech_Male> Ninety <Speech_Male> nine out of one hundred <Speech_Male> times the <Speech_Male> management teams that we <Speech_Male> meet with a great <Speech_Male> Neil Business <Speech_Male> and they. <Speech_Music_Male> Can speak <Speech_Male> to <Speech_Male> issues that <Speech_Male> we discussed from <Speech_Male> the top of their heads, <Speech_Male> and it's just <Speech_Male> not issue <Speech_Male> at all, but you <Speech_Male> know one out of every <Speech_Male> times <Speech_Male> so or <Speech_Male> thousand times <Speech_Male> <Speech_Male> <Speech_Male> not will be expected. <Speech_Male> What's The craziest <Silence> thing <SpeakerChange> you've seen an? <Speech_Music_Male> I <Speech_Music_Male> haven't seen <Speech_Male> anything. <Speech_Male> Maybe la <Speech_Male> person would look <Speech_Male> at his van <Speech_Male> I think some <Speech_Male> of the things that surprise <Speech_Male> me though it <Speech_Male> is is just some <Speech_Male> of the deals <Speech_Male> that we seen <Speech_Male> where we've <Speech_Male> worked on where <Speech_Male> it said never <Speech_Male> break this going back <Speech_Male> a number of years ago, <Speech_Male> the company <Speech_Male> that we were valuing <Speech_Male> for. <Speech_Male> For <Speech_Male> a while, <Speech_Male> they had a little <Speech_Male> bit of trouble or <Speech_Male> valiant for college, <Speech_Male> billion dollars <Speech_Male> and strategic <Speech_Male> <Speech_Male> came in <Speech_Male> literally <Speech_Male> pay two <Speech_Male> billion dollars for <Speech_Male> like a hundred <Speech_Male> percent more than <Speech_Male> what we add value, <Speech_Male> the company <Speech_Male> ads and <Speech_Male> we just couldn't <Speech_Male> believe it just given. <Speech_Male> Some <Speech_Male> of the things that we've seen <Speech_Male> and. <Speech_Male> We've seen some deals <Speech_Male> recently like <Speech_Male> that as <Speech_Male> wear company <Speech_Male> that's. <Speech_Male> Just been <Speech_Male> acquires <Speech_Male> <Speech_Male> you know in the last <Speech_Male> couple of years, <Speech_Male> and there's <Speech_Male> a transaction where <Speech_Male> literally <Speech_Male> the new buyers <Speech_Male> pay double <Speech_Male> purchase, price <Speech_Male> or <SpeakerChange> more, <Speech_Male> you wonder Halley <Speech_Male> wondered, says <Speech_Male> I'd say <Speech_Male> my world's <Speech_Male> quite frankly nothing <Speech_Male> <Speech_Male> shocking necessarily, <Speech_Male> <Speech_Male> but surprising. <Speech_Male> Yeah, obviously <Speech_Male> see <Speech_Male> we see surprising all <Speech_Male> the time in typically <Speech_Male> it's <Speech_Male> how in <Speech_Male> some cases <Speech_Male> is really smart, <Speech_Male> sophisticated <Speech_Male> bars or <Speech_Male> putting a lot of money on <Speech_Male> the line and <Speech_Male> in a way that <Speech_Male> is unexpected. <Speech_Male> <Speech_Male> Things that <Speech_Male> we don't see, but <Speech_Male> let's say that <Speech_Male> again. Getting what <Speech_Male> we see <Speech_Male> us through the entire <Speech_Male> cycles, <Speech_Music_Male> not only that <Speech_Male> the time of the deal, <Speech_Male> but pulse transaction <Speech_Male> united <Speech_Male> say <Speech_Male> more often than not <Speech_Male> we <Speech_Male> typically <Speech_Male> do have it right <Speech_Male> or do get it right <Speech_Male> in terms of when <Speech_Male> we're surprised <SpeakerChange> that <Speech_Male> usually not a good thing. <Speech_Male> <Speech_Male> Very cool, <Speech_Male> so that could be the guy <Speech_Male> that's incentivize <SpeakerChange> just <Speech_Male> to take the close. <Speech_Male> <Speech_Male> <Speech_Male> Sensitive, Hey. <Speech_Male> Thanks for

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