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Confidential | May 2017
CloudNY
Jeff Chang
Head of Software, Qatalyst Partners
Founded March 2008
Global independent investment bank providing
high impact...
Build the Business Sell
Build the Business
21 Public Software Companies
>$10Bn Market Cap Today
Sell
400+
Software Acquisitions
>$50MM Over Last 5 Years
Build the Business
21 Public Software Companies
>$10Bn Market Cap...
Don’t Let Inbound
Interest Catch You
Off Guard…
…Or Risk Leaving
Money on the Table
“If you know the enemy
and know yourself
you need not fear the
results of a hundred battles”
--Sun Tzu--
Get to Know the Business Partner & Integrate Finalize Business Case Potential M&A Inbound
The Acquirer’s Modus Operandi
Time
$0
$25
$50
Execute
Build Relationships
Develop Partnerships & Integrations
Elevate Relationships & Gain
Insight into ...
M&A
Inbound
M&A Strikes: What Next?
Tactics
Valuation
Negotiation
Time
$0
$25
$50
Execute
Build Relationships
Develop Part...
M&A
Inbound
What I Bet You Are Thinking
Tactics
Valuation
Negotiation
Time
$0
$25
$50
Execute
Build Relationships
Develop ...
Elevate Relationships & Gain
Insight into Public Markets

M&A
Inbound
How Can An Investment Banker Help You?
Tactics
Valu...
Mistakes That
Can Cost You
Reliance on
Open Source
Complicated
Cap Tables
Exuberant Private
Valuations
Oversized
Board
Mis...
Tactical Lessons from $40B+ in Technology Transaction Value
Tactical Lessons from $40B+ in Technology Transaction Value
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Tactical Lessons from $40B+ in Technology Transaction Value

CloudNY presentation from Jeff Chang, a partner at Qatalyst Partners, on lessons learned from $40B+ in technology M&A.

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Tactical Lessons from $40B+ in Technology Transaction Value

  1. 1. Confidential | May 2017 CloudNY
  2. 2. Jeff Chang Head of Software, Qatalyst Partners Founded March 2008 Global independent investment bank providing high impact M&A and financial advice for emerging and established technology leaders $40Bn+ Personal Deal Experience
  3. 3. Build the Business Sell
  4. 4. Build the Business 21 Public Software Companies >$10Bn Market Cap Today
  5. 5. Sell 400+ Software Acquisitions >$50MM Over Last 5 Years Build the Business 21 Public Software Companies >$10Bn Market Cap Today
  6. 6. Don’t Let Inbound Interest Catch You Off Guard…
  7. 7. …Or Risk Leaving Money on the Table
  8. 8. “If you know the enemy and know yourself you need not fear the results of a hundred battles” --Sun Tzu--
  9. 9. Get to Know the Business Partner & Integrate Finalize Business Case Potential M&A Inbound The Acquirer’s Modus Operandi
  10. 10. Time $0 $25 $50 Execute Build Relationships Develop Partnerships & Integrations Elevate Relationships & Gain Insight into Public Markets Your World: Building Your BusinessRevenue($MM)
  11. 11. M&A Inbound M&A Strikes: What Next? Tactics Valuation Negotiation Time $0 $25 $50 Execute Build Relationships Develop Partnerships & Integrations Elevate Relationships & Gain Insight into Public Markets Revenue($MM)
  12. 12. M&A Inbound What I Bet You Are Thinking Tactics Valuation Negotiation Time $0 $25 $50 Execute Build Relationships Develop Partnerships & Integrations Elevate Relationships & Gain Insight into Public Markets Revenue($MM)    ? ? ? ?
  13. 13. Elevate Relationships & Gain Insight into Public Markets  M&A Inbound How Can An Investment Banker Help You? Tactics Valuation Negotiation Time $0 $25 $50 Execute Build Relationships Develop Partnerships & Integrations Revenue($MM)   
  14. 14. Mistakes That Can Cost You Reliance on Open Source Complicated Cap Tables Exuberant Private Valuations Oversized Board Missing Projections Weak Relationships Mistakes You Might Make Today That Will Cost You in M&A Negotiations Down the Road

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