A health & wellness client was looking to grow its consumer-facing digital application. Innovation was key to differentiating their product, but speed was also imperative. The client identified an international acquisition target; a company whose computer vision technology specializing in human biomechanics could dramatically enhance their digital product. For this acquisition to succeed, the client needed to rapidly mobilize a cross-functional team of high-level stakeholders. Pepper Foster (PFC) was asked to manage the due diligence and deal closing processes.This was a highly complex effort that needed to be conducted confidentially, with collaboration from key stakeholders, in a short period of time.
PFC identified the key themes crucial to a successful acquisition: communication, accountability, and confidentiality. They immediately connected with key stakeholders to develop an inventory of key milestones for the project. A “deal team” was formalized consisting of subject matter experts who owned workstreams which included, but were not limited to, the following areas:
Milestones were then sequenced, dependencies were identified, and the acquisition timeline was vetted by the deal team. Meetings were scheduled and status reports were developed so that stakeholders could follow daily progress. PFC also met with the acquisition company’s leadership on a consistent basis so they could get familiar with the process.
PFC led the due diligence process to ensure that all stakeholders fully understood the acquisition target. When issues arose with the on-time delivery of milestones, they took action to course correct. Together with the deal team, PFC developed a robust presentation to the client’s executive leadership which culminated in board approval of the acquisition and deal terms. Finally, they detailed the sequence of regulatory steps and external-facing communications which were planned to the minute for the deal’s press release. Steps were also taken to protect the confidentiality of this effort, as the client was publicly traded and the implications for an information leak could be severe.
The acquisition was successfully signed, completed, and announced on target dates. News of the deal was not leaked to the public prior to the press release. All compliance steps were adjudged to have been executed appropriately by regulators.
The acquisition’s technology was also successfully integrated and launched within the client’s product. The number of end users for the product grew which was attributed in part to the acquired technology.
Leaders from the acquired company stepped into leadership roles at the client, and key talent from the acquired company joined the client as well. The team from the acquired company now serve as an innovation and technology hub for the client.
Stakeholders from the client and acquired company are satisfied with the outcome. Together as one company, they are leading digital strategy and are instrumental to the company’s future.
Let's make a difference together and partner to find the perfect solution for your organization.Contact us ⟶