Operating at the Intersection of Technology and the Capital Markets
Tag: M&A
Time is wasting away. If you are a big fan of a target company's management team, pay them the extra EBITDA multiple turn if that is what is required to execute your deal. I did not say "gift" them the incremental purchase consideration. Make the management earn it. Create a Management Incentive Plan ("MIP"), for … Continue reading Don’t Allow Pride To Scuttle Your M&A Transaction
We had a conversation with Ken Bisconti and Bob Petrocchi who together co-lead Intralinks, an SS&C Technologies (tkr: SSNC) company. Intralinks is perhaps best known for its Virtual Data Room offering - "VDRPro" - part of a larger product portfolio that customers primarily use to securely manage M&A and related transactions. We covered a variety … Continue reading TEK2day Podcast #419: Guests Ken Bisconti and Bob Petrocchi – Co-Heads SS&C Intralinks
An effective recipe for crowding out innovation consists of companies taking on massive amounts of leverage coupled with a Federal Government that has a negative bias toward mergers and acquisitions. We are experiencing this phenomenon now with corporate debt & loans at approximately 56% of GDP (as of Q2, chart below) and a DOJ that … Continue reading High Debt Levels and Negative M&A Bias Are Crowding Out Innovation
Amazon is developing a reputation for poor deal etiquette. Specifically (as reported by the WSJ), Amazon is using intelligence gathered by its venture arm during deal due diligence to develop competitive offerings. Microsoft, Google, Walmart, Alibaba, Shopify and others will likely capture a percentage of venture and M&A deal flow that otherwise would have gone … Continue reading Poor Reputations Travel Quickly
Here is how revenue was impacted for a number of well known FinTech companies during the Great Recession of 2008-2010. Reach us at jmaietta@tek2day.com for access to the Excel file. click to expand or download table
The Coronavirus has wreaked havoc on the markets. Valuations have come in across the board making things interesting. Here is a screen from our CEORater database. Click HERE for our summary valuation table. Apple (tkr: AAPL), Facebook (tkr: FB) and SS&C Technologies (tkr: SSNC) each trade below 20x EV/LTM Operating Cash Flow. Click any table … Continue reading With Turmoil Comes Opportunity
We believe the answer is "YES". We believe that cryptocurrencies will turbocharge online marketplaces during the next 10 years. For this reason we believe companies that have planted a cryptocurrency flag will look to acquire online marketplaces which can be "crypto-enabled." Thus, we peg the probability of an EBAY sale in 2020 at 80%. Intercontinental … Continue reading Will Cryptocurrencies Turbocharge Online Marketplaces?
A Winning Culture Doesn't Happen by Accident "Culture" is a word of the moment that has been spoken ad nauseam, primarily by sports and business media. Sports journalists heavily used the word during the recent NFL coaching carousel. What these journalists failed to mention is that "culture" in the context of an organization is not … Continue reading Defining A Winning Culture
There were too many quality CEOs to choose from when we went about selecting the "CEORater Technology CEO of the Year" for 2019. Rather than selecting a single "Technology CEO of the Year", we elected to select five top CEOs across five Technology categories: 1.) "PropTech", 2.) "FinTech: Payments", 3.) "Platform Companies", 4.) "FinTech: Capital … Continue reading CEORater 2019 Technology CEOs of the Year
We took a snapshot of FinTech company valuations based on an extract from our CEORater database. We looked at Enterprise Value as a multiple of LTM Operating Cash Flow. You may access the file HERE or after the break below. Should you have any questions reach me at jmaietta@tek2day.com Tickers mentioned: BR, FDS, FICO, FIS, … Continue reading FinTech Valuations
