Technology companies are uniquely valuable, and much of that value is tied to intellectual property, and the protection afforded by strong patents. But with changing patent law, patent trolls, and some inventors openly giving up their patent rights, what's the best way for your technology company to secure and maximize the value of your intellectual property? With an emphasis on preparing for an M&A event, patent experts from across the industry will discuss the best strategies...
If you have technology without a patent
If you have a patent pending
If you have a patent granted
Plus, a round table discussion on Elon Musk's recent decision to renounce enforcement of thousands of Tesla patents. Good idea? Bad idea? Could Musk be starting a new trend? Join us August 27 for this and more, answering vital questions regarding patents, technology and M&A.
2. Rob has over 30 years of executive and entrepreneurial experience
in multiple technologies: Integrated circuit testing, industrial
process automation and control, communications software, security
software, and energy software and services. Rob has founded and
sold several companies and engaged in two IPOs. He was most
recently CEO of Evergreen Fuel Technologies, Inc. in the energy
sector. Rob is a broadly skilled strategic development professional
with a proven reputation for targeting, negotiating and developing
profitable ventures and a demonstrated ability to successfully
analyze an organization's critical business requirements, identify
deficiencies and opportunities, and develop innovative and cost-
effective solutions for enhancing competitiveness, increasing
revenues, and improving customer relationships.
Rob Schram
Senior Vice President, Corum Group
Moderator
3. Software Patent Luminaries
Elon Gasper
Vice President & Director of
Research, Corum Group
F. David LaRiviere
Managing Partner, LaRiviere,
Grubman & Payne, LLP
4. Elon Gasper
Vice President & Director of Research, Corum Group
Software entrepreneur and tech M&A IP specialist Elon Gasper’s own
inventions have driven M&A value and underpinned his experience on
the sell-side, buy-side and as an advisor and research director at the
Corum Group. He founded a software start-up, obtained venture funding
and was CEO until its acquisition by the leading public entertainment
software company, where he guided patent portfolio work while
supporting its growth through further acquisitions and eventual exit in an
acquisition by a larger public entity. Elon then helped start and grow a
number of other companies. His awards include a COMDEX Envision; a
Codie, the retail software 'Oscar‘; and eleven patents. He was a finalist
for the Fleugelman Award, the only personal achievement award given
by the Software Publishers Association, and has held faculty and staff
positions at Univ. of Washington, Mich. State, Cal. State, and others.
MS, Computer Science; BS, Biochemistry.
Guest Speaker
5. Patents as an Asset in M&A
• Patents now a business asset
• Increasingly driving midrange M&A
• Affecting all phases:
– Valuation
– Negotiation
– Due Diligence
• International increasingly important
• Costs
8. Studies show most software firms
haven’t been getting patents
Sources: James Bessen (Boston University), Stuart Graham et al, NBER Patent Data Project, Crunchbase
24%
Pre-packaged Software
1996
20%
Computer Services & Software
1996
24%
Venture-backed Software Startups
2005
33%
Pre-packaged software
2006
24%
All Software Startups
2009
67%
Venture-backed Software Start-ups
2009
33%
All Funded Start-ups
2012
19%
E-commerce, Web, & Video Games
2012
9. Approaches to Value of Patents in M&A
• Study: having a patent assigned to the target
increases the deal value by $250,000 on
average
• Study: the quantity of patents in a portfolio is
secondary to the quality of those patents
• Net present value of established royalty stream
• Book value of patent (cost to date)
• Assign 25% of operating profits to the patents
• Compare to similar patents
Source: Antti Saari, Aalto University
10. Just part of the wireless-related arms race…
Source: PCMag, Verizon; c. 2012
11. 11
Recent Software Patent Deals
HorizontalVertical ConsumerInternetInfrastructure
“IP is an increasingly valuable asset class in
business…”
- Kevin Rhodes, VP & Chief Intellectual Property Counsel for 3M.
“The corporate world is in the midst of a grand
shopping spree.”
– CNN Money, “Mergers and Acquisitions Boom” June, 2014
15. 15
Mega Deals – 1H:2014
$19B
$3.1B
$3.2B
$3.2B
$2.9B
$2.4B
$2.3B
$2.0B
$5.3B
$3.0B
$4.9B
$3.5B
$2.6B
$1.7B
$1.6B
$1.3B
Sold to
Sector: Mobility
Target: WhatsApp
Acquirer: Facebook
Transaction Value: $19 billion
- Mobile messaging applications
enabling users to send and receive
group messages, photos and videos
and share locations.
Patent Pending: Multimedia
transcoding method and system for
mobile devices
16. 16
Mega Deals – 1H:2014
$19B
$3.1B
$3.2B
$3.2B
$2.9B
$2.4B
$2.3B
$2.0B
$5.3B
$3.0B
$4.9B
$3.5B
$2.6B
$1.7B
$1.6B
$1.3B
Sold to
Sector: Energy
Target: Nest Labs
Acquirer: Google
Transaction Value: $3.2 Billion
- Wireless, sensor-based smart energy thermostats
that automatically adjusts temperature based on
user behavior and can be remotely controlled via
computers or smart phones.
- Last time Google bought a company that directly
related to its core business of search, display and
video advertising was mid-2011 purchase of
AdMeld.
Patent : Thermostat user
interface
19. 19
Recent Software Patent Deals
HorizontalVertical ConsumerInternetInfrastructure
“IP is an increasingly valuable asset class in
business…”
- Kevin Rhodes, VP & Chief Intellectual Property Counsel for 3M.
“The corporate world is in the midst of a grand
shopping spree.”
– CNN Money, “Mergers and Acquisitions Boom” June, 2014
20. 20
Internet Market
Public Valuation Multiples
1.50 x
1.70 x
1.90 x
2.10 x
2.30 x
2.50 x
2.70 x
6.00 x
8.00 x
10.00 x
12.00 x
14.00 x
16.00 x
18.00 x
EV/SalesEV/EBITDA
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
EV/EBITDA 13.74 x 12.24 x 13.16 x 13.37 x 13.31 x 14.17 x 13.63 x 14.92 x 14.31 x 13.76 x 12.36 x 12.94 x 15.61 x
EV/S 2.02 x 1.84 x 2.04 x 1.93 x 2.29 x 2.46 x 2.31 x 2.34 x 2.21 x 2.06 x 2.07 x 2.08 x 2.07 x
21. 21
Deal Spotlight
1.50 x
1.70 x
1.90 x
2.10 x
2.30 x
2.50 x
2.70 x
6.00 x
7.00 x
8.00 x
9.00 x
10.00 x
11.00 x
12.00 x
13.00 x
14.00 x
15.00 x
16.00 x
EV/SalesEV/EBITDA
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
EV/EBITDA 13.06 x 13.74 x 12.24 x 13.16 x 13.37 x 13.31 x 14.17 x 13.63 x 14.92 x 14.31 x 13.76 x 12.36 x 12.94 x
EV/S 1.95 x 2.02 x 1.84 x 2.04 x 1.93 x 2.29 x 2.46 x 2.31 x 2.34 x 2.21 x 2.06 x 2.07 x 2.08 x
Internet Market
Sold to
Target: Destination Rewards
Acquirer: Deluxe
Transaction Value: $20.1 million
- Patented, innovative rewards and loyalty solution
will enhance Deluxe’s suite of Customer
Lifecycle Management offerings for financial
institutions. Patent : System and method for
providing a discount
22. 22
Infrastructure Software Market
Public Valuation Multiples
2.00 x
2.05 x
2.10 x
2.15 x
2.20 x
2.25 x
2.30 x
2.35 x
2.40 x
2.45 x
2.50 x
6.00 x
7.00 x
8.00 x
9.00 x
10.00 x
11.00 x
12.00 x
13.00 x
14.00 x
15.00 x
16.00 x
EV/SalesEV/EBITDA
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
EV/EBITDA 11.73 x 10.85 x 11.64 x 12.95 x 13.61 x 13.43 x 12.62 x 12.68 x 12.02 x 14.50 x 13.72 x 13.86 x 14.90 x
EV/S 2.44 x 2.34 x 2.29 x 2.30 x 2.33 x 2.44 x 2.22 x 2.33 x 2.32 x 2.33 x 2.32 x 2.42 x 2.43 x
24. 24
Infrastructure Software Market
Deal Spotlight
2.00 x
2.05 x
2.10 x
2.15 x
2.20 x
2.25 x
2.30 x
2.35 x
2.40 x
2.45 x
2.50 x
6.00 x
7.00 x
8.00 x
9.00 x
10.00 x
11.00 x
12.00 x
13.00 x
14.00 x
15.00 x
EV/SalesEV/EBITDA
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
EV/EBITDA 10.78 x 11.73 x 10.85 x 11.64 x 12.95 x 13.61 x 13.43 x 12.62 x 12.68 x 12.02 x 14.50 x 13.72 x 13.86 x
EV/S 2.26 x 2.44 x 2.34 x 2.29 x 2.30 x 2.33 x 2.44 x 2.22 x 2.33 x 2.32 x 2.33 x 2.32 x 2.42 x
Sold to
Sector: Virtualization
Target: V3 Systems
Acquirer: Sphere3D
Transaction Value: 9.7 million
- Desktop virtualization appliances & management
software that enables businesses' IT administrators to
virtualize desktops and manage local, cloud-hosted or
hybrid virtual desktop deployments.
- Quickly adds breadth to product portfolio, and fast tracks
transition to commercial operations with accretive
revenue from day one.
Patent: Virtual machine
migration into the cloud
25. 25
Horizontal Application Software Market
Public Valuation Multiples
1.50 x
2.00 x
2.50 x
3.00 x
3.50 x
4.00 x
4.50 x
6.00 x
8.00 x
10.00 x
12.00 x
14.00 x
16.00 x
18.00 x
20.00 x
22.00 x
EV/SalesEV/EBITDA
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
EV/EBITDA 15.03 x 12.83 x 16.12 x 17.94 x 18.79 x 19.37 x 19.00 x 20.34 x 19.64 x 17.49 x 18.43 x 18.17 x 16.86 x
EV/S 2.99 x 2.93 x 3.48 x 3.32 x 3.61 x 4.07 x 3.89 x 3.77 x 3.71 x 3.39 x 3.43 x 3.51 x 3.24 x
26. 26
1.50 x
2.00 x
2.50 x
3.00 x
3.50 x
4.00 x
4.50 x
6.00 x
8.00 x
10.00 x
12.00 x
14.00 x
16.00 x
18.00 x
20.00 x
22.00 x
EV/SalesEV/EBITDA
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
EV/EBITDA 12.09 x 15.03 x 12.83 x 16.12 x 17.94 x 18.79 x 19.37 x 19.00 x 20.34 x 19.64 x 17.49 x 18.43 x 18.17 x
EV/S 3.08 x 2.99 x 2.93 x 3.48 x 3.32 x 3.61 x 4.07 x 3.89 x 3.77 x 3.71 x 3.39 x 3.43 x 3.51 x
Sold to
Sector: CRM
Target: Kxen
Acquirer: SAP
Transaction Value: Estimated at $40 Million
- Addition of KXEN adds predictive capabilities for the
extensive customer base of cloud and on-premise
solutions from SAP.
- Predictive technology enhances core SAP applications
for managing operations, customer relationships, supply
chains, risk and fraud.
Horizontal Application Software Market
Deal Spotlight
Patent: Adaptive marketing
using insight driven customer
interaction
27. 27
1.50 x
2.00 x
2.50 x
3.00 x
3.50 x
4.00 x
4.50 x
6.00 x
8.00 x
10.00 x
12.00 x
14.00 x
16.00 x
18.00 x
20.00 x
22.00 x
EV/SalesEV/EBITDA
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
EV/EBITDA 12.09 x 15.03 x 12.83 x 16.12 x 17.94 x 18.79 x 19.37 x 19.00 x 20.34 x 19.64 x 17.49 x 18.43 x 18.17 x
EV/S 3.08 x 2.99 x 2.93 x 3.48 x 3.32 x 3.61 x 4.07 x 3.89 x 3.77 x 3.71 x 3.39 x 3.43 x 3.51 x
Sold to
Sector: Mobility
Target: Motorola Solutions (Enterprise Business)
Acquirer: Zebra Technologies Corporation
Transaction Value: $3.45 billion
- 1.4x revenue multiple
- Mobile phones, smart phones and wireless
infrastructure hardware and software.
Horizontal Application Software Market
Deal Spotlight
Patent: Mobility in a
wireless enterprise network
28. 28
Vertical Application Software Market
Public Valuation Multiples
1.50 x
1.70 x
1.90 x
2.10 x
2.30 x
2.50 x
2.70 x
2.90 x
3.10 x
3.30 x
6.00 x
7.00 x
8.00 x
9.00 x
10.00 x
11.00 x
12.00 x
13.00 x
14.00 x
15.00 x
16.00 x
EV/SalesEV/EBITDA
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
EV/EBITDA 12.40 x 11.74 x 12.81 x 13.12 x 13.24 x 14.08 x 13.01 x 13.69 x 14.01 x 13.82 x 14.33 x 14.62 x 13.23 x
EV/S 2.60 x 2.52 x 2.65 x 2.53 x 2.55 x 2.72 x 2.64 x 2.79 x 2.88 x 2.83 x 3.01 x 3.08 x 2.80 x
30. 30
Vertical Application Software Market
Deal Spotlight
1.50 x
1.70 x
1.90 x
2.10 x
2.30 x
2.50 x
2.70 x
2.90 x
3.10 x
3.30 x
6.00 x
7.00 x
8.00 x
9.00 x
10.00 x
11.00 x
12.00 x
13.00 x
14.00 x
15.00 x
16.00 x
EV/SalesEV/EBITDA
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
EV/EBITDA 11.81 x 12.40 x 11.74 x 12.81 x 13.12 x 13.24 x 14.08 x 13.01 x 13.69 x 14.01 x 13.82 x 14.33 x 14.62 x
EV/S 2.42 x 2.60 x 2.52 x 2.65 x 2.53 x 2.55 x 2.72 x 2.64 x 2.79 x 2.88 x 2.83 x 3.01 x 3.08 x
Sold to
Sector: Healthcare Payment Cards
Target: Evolution1
Acquirer: WEX
Transaction Value: $532.5 million
- Pre-paid healthcare and commuter benefits
cards and related transaction processing
software.
- Enables WEX to address multiple aspects of the
healthcare payment system, expanding market
while building on growth in fleet & travel space.
Patent: System and method for
processing flexible spending
account transactions
31. 31
1.00 x
1.20 x
1.40 x
1.60 x
1.80 x
2.00 x
2.20 x
2.40 x
2.60 x
2.80 x
6.00 x
6.50 x
7.00 x
7.50 x
8.00 x
8.50 x
9.00 x
9.50 x
10.00 x
EV/SalesEV/EBITDA
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
EV/EBITDA 7.32 x 8.32 x 7.48 x 7.50 x 7.46 x 8.55 x 8.56 x 8.27 x 8.04 x 8.46 x 8.93 x 8.82 x 9.59 x
EV/S 1.61 x 1.92 x 1.49 x 1.84 x 1.51 x 1.84 x 2.04 x 1.89 x 1.96 x 2.04 x 1.98 x 2.18 x 2.54 x
Sold to
Sector: Education
Target: Lexia Learning Systems
Acquirer: Rosetta Stone
Transaction Value: $22.5 million
- Lexia’s reading technology brings
Rosetta new expertise to plunge
deeper into the EdTech industry.
Vertical Application Software Market
Deal Spotlight
Patent: Methods and
systems for education and
cognitive-skills training
32. 32
Consumer Application Software Market
Public Valuation Multiples
1.00 x
1.20 x
1.40 x
1.60 x
1.80 x
2.00 x
2.20 x
2.40 x
2.60 x
2.80 x
6.00 x
7.00 x
8.00 x
9.00 x
10.00 x
11.00 x
12.00 x
EV/SalesEV/EBITDA
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
EV/EBITDA 8.32 x 7.48 x 7.50 x 7.46 x 8.55 x 8.56 x 8.27 x 8.04 x 8.46 x 8.93 x 8.82 x 9.59 x 10.91 x
EV/S 1.92 x 1.49 x 1.84 x 1.51 x 1.84 x 2.04 x 1.89 x 1.96 x 2.04 x 1.98 x 2.18 x 2.54 x 1.93 x
33. 33
1.00 x
1.20 x
1.40 x
1.60 x
1.80 x
2.00 x
2.20 x
2.40 x
2.60 x
2.80 x
6.00 x
6.50 x
7.00 x
7.50 x
8.00 x
8.50 x
9.00 x
9.50 x
10.00 x
EV/SalesEV/EBITDA
Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
EV/EBITDA 7.32 x 8.32 x 7.48 x 7.50 x 7.46 x 8.55 x 8.56 x 8.27 x 8.04 x 8.46 x 8.93 x 8.82 x 9.59 x
EV/S 1.61 x 1.92 x 1.49 x 1.84 x 1.51 x 1.84 x 2.04 x 1.89 x 1.96 x 2.04 x 1.98 x 2.18 x 2.54 x
Sold to
Sector: Video Games
Target: Rational Group Ltd (dba PokerStars.co) [Isle of Man]
Acquirer: Amaya Gaming Group [Canada]
Transaction Value: $4.9 Billion
- Increases revenue eightfold and gains benefit of US brand
recognition and casino partnerships for its existing online
gaming and casino supply business.
- Strengthens core B2B operations with a consumer online
powerhouse that creates a scalable global platform for
growth.
Deal Spotlight
Consumer Application Software Market
Patent: Computer gaming
device and method for
computer gaming
34. Elon Gasper
Vice President & Director of Research, Corum Group
Software entrepreneur and tech M&A IP specialist Elon Gasper’s own
inventions have driven M&A value and underpinned his experience on
the sell-side, buy-side and as an advisor and research director at the
Corum Group. He founded a software start-up, obtained venture funding
and was CEO until its acquisition by the leading public entertainment
software company, where he guided patent portfolio work while
supporting its growth through further acquisitions and eventual exit in an
acquisition by a larger public entity. Elon then helped start and grow a
number of other companies. His awards include a COMDEX Envision; a
Codie, the retail software 'Oscar‘; and eleven patents. He was a finalist
for the Fleugelman Award, the only personal achievement award given
by the Software Publishers Association, and has held faculty and staff
positions at Univ. of Washington, Mich. State, Cal. State, and others.
MS, Computer Science; BS, Biochemistry.
Guest Speaker
35. Provisional Application:
Business considerations
Consider a single provisional filing due to:
• It is faster and cheaper to get than a full patent
• It will hold a place in line for a year while you
proceed
• It reduces risk of innovation unprotected
• It allows to control the costs
• It lets you focus on the growth and exit preparation
for your business
36. F. David LaRiviere
Managing Partner, LaRiviere, Grubman & Payne, LLP
F. David La Riviere is a managing partner of the law firm LaRiviere,
Grubman & Payne LLC, a full-service intellectual property law firm on
the legal cutting edge of converging technologies. Prior to his time at
LGP, Dave served at IBM, HP, Tomy and other technology firms as both
an attorney and engineer. He is a past chair of the Intellectual Property
Section of the State Bar of California, and consults and advises clients
on all phases of intellectual property matters, including domestic and
foreign licensing, validity and infringement opinions; due diligence
investigations and reports; technology transfer, disclosure agreements
and employer/employee rights and obligations; litigation support,
including dispute settlement and arbitration; and preparation, filing and
prosecution of applications for domestic and foreign patents and
trademark registrations. He holds a J.D. from the University of Santa
Clara School of Law, and a B.S.E.E. from Stanford University.
Guest Speaker
38. Provisional Application:
Legal considerations
• Defines, describes & prepares claims structure
• Holds filing “priority”/place in line for 1 year
• Does not itself result in a patent, but starts the
process
• Can take a number of forms
• Assignable like other IP rights
39. A) Owning a patentable technology
• Provisional application also serves to define your trade secret technology
• If already on the market – use trademark registration protection
B) Owning a patent application in process
• Establish 3 levels of claims strategies:
– broadest possible claim tree, mid-level claims tree, a “picture” claim
• File an RCE / CIP
C) Owning an issued patent
• Follow the issued patents with applications on improvements, other embodiments,
additional uses and the like to build a patent portfolio
Legal protection of intellectual property
40. Q&A
We welcome your questions!
Use Q&A window on right side
Submit to queue at any time
Ask “all panelists” – see “ask” option above text-entry box
41. Q&A
Elon Gasper
Vice President & Director of
Research, Corum Group
F. David LaRiviere
Managing Partner, LaRiviere,
Grubman & Payne, LLP
42. Contact Us
For further information or copies of today’s
presentation:
Visit www.wfs.com
-or-
Email
Rob Schram: robs@corumgroup.com
Credit PCMag, Verizon; c. 2012
Added logos on the side
Add Infrastructure and Internet – done +all icons new + smth needed in centre?
Aug 30, 2013 – Aug 12, 2014
All three indexes we track ended lower this month. Nasdaq showed better performance than the other ones. Several factors influenced public markets, especially global economic concerns: Eurozone inflation arouse inflation fears and troubles with European banks (Banco Espirito Santo), Argentina default status and tensions in Gaza and Ukraine. US unemployment rates is steadily low and Federal Reserve is going to raise short-term interest rates.
Most patents issue within three years of their respective filing dates with the median for patents issued in 2014 sitting at 34 months. In 2010, that median pendency rose to a decide-high of 41 months. Since that time, the USPTO has been working steadily to reduce its large backlog of pending cases. An item of concern is that about 15% of recently issued patents have a pendency of more than five years.
For patents issued thus far in 2014, the one with the longest pendency is U.S. Patent No. 8,688,181 issued to IBM and with a US filing date of 09/09/1994.
(http://patentlyo.com/patent/2014/05/7978.html)
Add Infrastructure and Internet – done +all icons new + smth needed in centre?
Now, let’s turn to the Corum Index on deals – valuations, volume, structures, …etc..
This report is done monthly for six major sectors and quarterly for all 26 markets. It’s presented at our online M&A Monthlies which are broadcast to 36 countries the second Thursday at 10 a.m. Pacific Mountain Time.
How many of you have attended one of these monthly or quarterly events? (See a show of hands – usually not more than 20%.)
Well, if you’re serious about selling in the next year or two, I would urge you to tune in to these broadcasts. They have all the latest information on valuations, deal structures, who’s selling, plus special market reports, and insider presentations on trends that you need to know to best position for optimal value. Further, we have guest speakers – recent headliners, buyers, or CEOs who have just sold and give you the lowdown on what it’s like in the M&A trenches right now.
Here’s the latest Corum Index. [NEW COPY NEEDED]
By the way, an example of the full 26 market report is in the annual report. (Have them pull that back up)
Everyone open up to the market sections to see more detail. There are also special reports by Corum Staff – considered world experts in the major trends.
Now, let’s turn to the Corum Index on deals – valuations, volume, structures, …etc..
This report is done monthly for six major sectors and quarterly for all 26 markets. It’s presented at our online M&A Monthlies which are broadcast to 36 countries the second Thursday at 10 a.m. Pacific Mountain Time.
How many of you have attended one of these monthly or quarterly events? (See a show of hands – usually not more than 20%.)
Well, if you’re serious about selling in the next year or two, I would urge you to tune in to these broadcasts. They have all the latest information on valuations, deal structures, who’s selling, plus special market reports, and insider presentations on trends that you need to know to best position for optimal value. Further, we have guest speakers – recent headliners, buyers, or CEOs who have just sold and give you the lowdown on what it’s like in the M&A trenches right now.
Here’s the latest Corum Index. [NEW COPY NEEDED]
By the way, an example of the full 26 market report is in the annual report. (Have them pull that back up)
Everyone open up to the market sections to see more detail. There are also special reports by Corum Staff – considered world experts in the major trends.
Now, let’s turn to the Corum Index on deals – valuations, volume, structures, …etc..
This report is done monthly for six major sectors and quarterly for all 26 markets. It’s presented at our online M&A Monthlies which are broadcast to 36 countries the second Thursday at 10 a.m. Pacific Mountain Time.
How many of you have attended one of these monthly or quarterly events? (See a show of hands – usually not more than 20%.)
Well, if you’re serious about selling in the next year or two, I would urge you to tune in to these broadcasts. They have all the latest information on valuations, deal structures, who’s selling, plus special market reports, and insider presentations on trends that you need to know to best position for optimal value. Further, we have guest speakers – recent headliners, buyers, or CEOs who have just sold and give you the lowdown on what it’s like in the M&A trenches right now.
Here’s the latest Corum Index. [NEW COPY NEEDED]
By the way, an example of the full 26 market report is in the annual report. (Have them pull that back up)
Everyone open up to the market sections to see more detail. There are also special reports by Corum Staff – considered world experts in the major trends.
Title edited
Title edited
Now, let’s turn to the Corum Index on deals – valuations, volume, structures, …etc..
This report is done monthly for six major sectors and quarterly for all 26 markets. It’s presented at our online M&A Monthlies which are broadcast to 36 countries the second Thursday at 10 a.m. Pacific Mountain Time.
How many of you have attended one of these monthly or quarterly events? (See a show of hands – usually not more than 20%.)
Well, if you’re serious about selling in the next year or two, I would urge you to tune in to these broadcasts. They have all the latest information on valuations, deal structures, who’s selling, plus special market reports, and insider presentations on trends that you need to know to best position for optimal value. Further, we have guest speakers – recent headliners, buyers, or CEOs who have just sold and give you the lowdown on what it’s like in the M&A trenches right now.
Here’s the latest Corum Index. [NEW COPY NEEDED]
By the way, an example of the full 26 market report is in the annual report. (Have them pull that back up)
Everyone open up to the market sections to see more detail. There are also special reports by Corum Staff – considered world experts in the major trends.
Now, let’s turn to the Corum Index on deals – valuations, volume, structures, …etc..
This report is done monthly for six major sectors and quarterly for all 26 markets. It’s presented at our online M&A Monthlies which are broadcast to 36 countries the second Thursday at 10 a.m. Pacific Mountain Time.
How many of you have attended one of these monthly or quarterly events? (See a show of hands – usually not more than 20%.)
Well, if you’re serious about selling in the next year or two, I would urge you to tune in to these broadcasts. They have all the latest information on valuations, deal structures, who’s selling, plus special market reports, and insider presentations on trends that you need to know to best position for optimal value. Further, we have guest speakers – recent headliners, buyers, or CEOs who have just sold and give you the lowdown on what it’s like in the M&A trenches right now.
Here’s the latest Corum Index. [NEW COPY NEEDED]
By the way, an example of the full 26 market report is in the annual report. (Have them pull that back up)
Everyone open up to the market sections to see more detail. There are also special reports by Corum Staff – considered world experts in the major trends.