This operation represents the 12th transaction Bondo Advisors has advised on over the past four years in the marketing, advertising, and communications sectors, consolidating the firm’s position as ...
In M&A, we talk a lot about multiples, EBITDA, and market ranges. But what truly separates a company that sells “at market” from one that sells at the high end of the range is rarely found solely ...
These discussions have largely been driven by the recent collapse in valuations of publicly listed SaaS companies on the Nasdaq—a decline already visible at the end of last year that has accelerated...
Are there times when earn-outs aren’t paid? Of course. Like any variable component, sometimes it isn’t achieved. That’s why the fixed portion must be sufficient so that, if the variable isn’t ...
Unfortunately, it is not uncommon for an acquirer to renegotiate the price after due diligence due to issues related to quality of earnings. Even without direct adjustments to EBITDA, a buyer may conc...
When a founder sells their company, they often feel that everything is over at the moment the payment is received. Over the years, I have seen that the legal and economic reality of a transaction is f...
Going to market saying that the company generates €10 million in revenue and €3 million in EBITDA may lead to receiving, for example, a €30 million offer for the company. If, during due diligenc...
Many entrepreneurs in the tech and digital world take it for granted that the natural path of a startup is to chain together funding rounds. Pre-seed leads to seed, then Series A, later Series B, and ...
My bet, and that of many buyers who continue to acquire software aggressively, is that software companies start with an advantage. They have the customer base, industry knowledge, and data. Building A...
Bondo Advisors has published its new 30-page report on mergers and acquisitions (M&A) in the Software & SaaS sector, offering a direct and up-to-date analysis of the market with a particular focus on ...
'If you distrust us that much, maybe it doesn’t make sense to continue'. I don’t know how many times I’ve heard a buyer use this argument, addressing the seller directly, in the middle of heated...
Thomson Bike Tours is one of the world’s leading providers of high-end cycling travel experiences, offering professionally guided trips in top cycling destinations across Europe and other countries....
