M&A
10 statements across 9 episodes · 4 bullish · 1 bearish · 9 people on the record · first statement Oct 7, 2018 by Will Herman · across every show →
Everything said about M&A, oldest first
Oct 7, 2018
Herman: Build In-House When Strategy Is Core; Acquisitions Fail To Integrate
“When what you're working on is sort of core to your long-term strategy I feel like there's no, no better value of developing that in-house, of creating that yourselves, because you can't get your hands around the technology, or the customers, or the employees,…”
Oct 25, 2018 negative
May 30, 2021 positive
Jan 16, 2022 positive
Munford: Trulioo targets tech and team for M&A, not revenue
“We are not, I'm not looking for top line growth. I'm not, I'm looking for product to extend our platform. And with the right product, we have a customer base that is enviable. If we broaden our product suite, we can sell more to them and provide more of a whol…”
May 3, 2022
Upfront cash is the only real financial risk for acquirers
“Whatever price tag you give, you can divide it between what you pay today, and what you pay tomorrow, and what you pay the day after. And whatever you pay tomorrow and the day after usually has some contingencies, right? If you think about it, like, yeah, I me…”
Jul 7, 2022 bullish
Oct 9, 2022
Oct 15, 2022
Hauser: Small acquisitions are riskier because high revenue cushions operational mistakes
“So revenue, the higher the revenue, more importantly, and it's not just because it's the number, it's because it gives us cushion, right? It means if we make mistakes after we acquire things, we have more chances to make another mistake to correct it or kind o…”
Oct 15, 2022
Hauser: Top-line synergies drive the highest M&A valuation multiples
“The least valuable from an acquisition standpoint is cost savings. Right. I buy this company. I get cost savings, least valuable. The next kind of down that line is I buy this company to speed up my market development. And then the most valuable is I increase …”