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OPTIMAL OUTCOME BY THE NUMBERS
THE TECH M&A PROCESS
8 STAGES
FOR AN OPTIMAL OUTCOME
Too often, the M&A process is handled differently depending on who works it. What’s needed
is a global, systematic search process for that partner that will give you an optimal outcome.
The “8 Stages For An Optimal Outcome” is built on the largest body of tech M&A work in history.
PREPARATION RESEARCH
CONTACT DISCOVERY NEGOTIATION
1 2 3
4 5
6 7 8
75%
of the time
there will be
other buyers
willing to pay
more than the
first one that
approaches you
average
increase
from initial
offer to LOI
with a global,
professional
process
48%
of self-managed
M&A transactions
end in failure80%
For more information, visit www.corumgroup.com
PREPARATION RESEARCH CONTACT
DISCOVERY NEGOTIATION
DUE DILIGENCE CLOSING INTEGRATION
•	 TIMELINE
•	 FINANCIALS
•	 PROJECTIONS
•	 PRESENTATION
MATERIALS
•	 TARGET SECTORS
•	 A & B BUYER LISTS
•	 STRATEGIC ANALYSIS
•	 DETERMINE CONTACTS
•	 SYNERGY STATEMENTS
•	 INTRODUCTIONS
•	 EXECUTIVE SUMMARY
•	 SCREEN INTEREST
•	 EXECUTE NDAS
•	 LOG COMMUNICATIONS
•	 CONFERENCE CALLS
•	 SITE VISITS
•	 TECH REVIEW
•	 SYNERGY ANALYSIS
•	 CUSTOMER INTERVIEWS
•	 STRUCTURE &
VALUATION GUIDANCE
•	 RECEIVE BIDS
•	 NEGOTIATE BIDS
•	 LETTER OF INTENT
•	 ESTABLISH DATA ROOM
•	 VERIFY FINANCIALS
•	 TECHNICAL/LEGAL
DILIGENCE
•	 DEFINITIVE AGREEMENT
•	 REPS & WARRANTIES
•	 ESCROW HOLD-BACKS
•	 CONTRACT SIGNING
•	 REGULATORY FILINGS
•	 PAYMENT
•	 MITIGATE RISKS
•	 SET TRANSITION TEAM
•	 EMPLOYEE RETENTION
•	 MONITORING &
REPORTING

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8 Stages for an Optimal Outcome - The Tech M&A Process

  • 1. OPTIMAL OUTCOME BY THE NUMBERS THE TECH M&A PROCESS 8 STAGES FOR AN OPTIMAL OUTCOME Too often, the M&A process is handled differently depending on who works it. What’s needed is a global, systematic search process for that partner that will give you an optimal outcome. The “8 Stages For An Optimal Outcome” is built on the largest body of tech M&A work in history. PREPARATION RESEARCH CONTACT DISCOVERY NEGOTIATION 1 2 3 4 5 6 7 8 75% of the time there will be other buyers willing to pay more than the first one that approaches you average increase from initial offer to LOI with a global, professional process 48% of self-managed M&A transactions end in failure80% For more information, visit www.corumgroup.com PREPARATION RESEARCH CONTACT DISCOVERY NEGOTIATION DUE DILIGENCE CLOSING INTEGRATION • TIMELINE • FINANCIALS • PROJECTIONS • PRESENTATION MATERIALS • TARGET SECTORS • A & B BUYER LISTS • STRATEGIC ANALYSIS • DETERMINE CONTACTS • SYNERGY STATEMENTS • INTRODUCTIONS • EXECUTIVE SUMMARY • SCREEN INTEREST • EXECUTE NDAS • LOG COMMUNICATIONS • CONFERENCE CALLS • SITE VISITS • TECH REVIEW • SYNERGY ANALYSIS • CUSTOMER INTERVIEWS • STRUCTURE & VALUATION GUIDANCE • RECEIVE BIDS • NEGOTIATE BIDS • LETTER OF INTENT • ESTABLISH DATA ROOM • VERIFY FINANCIALS • TECHNICAL/LEGAL DILIGENCE • DEFINITIVE AGREEMENT • REPS & WARRANTIES • ESCROW HOLD-BACKS • CONTRACT SIGNING • REGULATORY FILINGS • PAYMENT • MITIGATE RISKS • SET TRANSITION TEAM • EMPLOYEE RETENTION • MONITORING & REPORTING