Dec 5, 2018 | Techcelerate Ventures |
MERGE BRIEFING Manchester, 27 November 2 Corum Speaker Executive leader with 30+ years of expertise in defining operational strategies. Co-Founder & CEO of Cogniti Inc. Former Managing Director and EVP of Software Artistry Former President of EMEA SSA Global Former President of EMEA of Torex Holdings Background includes successful endeavours in EMEA, USA, Singapore, Australia, Russia, Brazil, Argentina and SA. Attended Harvard Business School Peter Prince Senior Vice President 3 Partial Co-Sponsor List 4 Global Presence 60% of transactions cross border 5 Research Education Valuation World Tech M&A Leaders 6 Unsurpassed Buyer Access Corum Buyer Knowledgebase Engagements Internal Research External Research Education Outside Events Transactions Outside Advisors (WTC) 7 Detailed, professional process Team approach Most senior dealmakers World Technology Council Sold more software-related firms than anyone Achieving an Optimal Outcome 8 SPAIN / USA USA / USA NETHERLANDS / USA NETHERLANDS / NETHERLANDS GERMANY / GERMANY USA / USA Corum Recent Transactions 9 SWITZERLAND / USA FINLAND / GERMANY NETHERLANDS / USA USA / USA Corum Recent Transactions 10 AUSTRALIA / AUSTRALIA USA / JAPAN UK / CHINA CANADA / CHINA ITALY / AUSTRIA KOREA / USA Corum Recent Transactions 11 Agenda Market Perspective Top 10 Disruptive Technology Trends M&A Activity & Valuations Factors Driving Tech M&A Achieving an Optimal Outcome Avoiding Deal Disasters Closing Thoughts 12 TOP TEN DISRUPTIVE TRENDS 13 Leveraging Corum's Unique Position Top 10 Disruptive Technology Trends 1000s of Buyer Interactions (Deals) 1000s of companies (Education) 1000s of industry transactions (Research) 14 Why worry about these trends? 1. Trends create change 2. Change drives strategic imperative 3. Strategic imperative drives acquisitions 4. Well-positioned companies get sold Are you part of any of these trends? 15 Corum Top Ten Technology Trends 2018 AI Enablement Composite Commerce IoT Software Digital Currency Flow Data Science Monetization Focused IT Services Smart Logistics Connected Health Regtech Systems Data Security CORECONTOUR 16 #1: AI Enablement Putting AI to work by means of big data and feedback Machine learning systems need data & feedback loops. Major AI platforms have prioritized foundational loops: search, language, images, speech, etc. Significant value lies in unexploited feedback loops and unique datasets. Use cases exist across all sectors, with deeper, defensible niches more valuable. Corum Top Ten Disruptive Technology Trends 2018 17 A new generation of online/offline convergence #2: Composite Commerce Corum Top Ten Disruptive Technology Trends 2018 Technology and traditional in- person commerce has been coalescing for decades. Amazon/Whole Foods exemplified the phenomenon, sparking new levels of awarenessand deals. Force multiplier for: Online exchanges Omnichannel sales/marketing Visual intelligence systems Smart Logistics AR/VR Much more 18 Emerging platforms, standards & analytics #3: IoT Software Even in the Internet of Things, the value of code outstrips the value of hardware. Each 'thing' needs integrated platforms, communication, analytics, AI, security, etc. Competing platforms and associated ecosystems are beginning to coalesce. Defensible solutions to critical problems provide a path to significant M&A value. Corum Top Ten Disruptive Technology Trends 2018 19 Decreasing friction in payments & exchange #4: Digital Currency Flow Blockchain is grabbing headlines, but the key to the trend is decreasing transaction friction. Includes alternative currencies; not just crypto, but in-game tokens, Starbucks cards, airline miles, other loyalty programs, etc. Digital transformation is driving major consolidation in payments space from megadeals on down. Small efficiency improvements with potential to scale make attractive M&A targets. Corum Top Ten Disruptive Technology Trends 2018 20 Maximizing return with real-time analytics #5: Data Science Monetization Proactive monetization is a more valuable use of data science than cost cutting & efficiency gains. Robust analytic tools are no longer optional, especially for consumer- facing companies. Game companies are leading the way, with video ads close behind and new opportunities in retail, B2B value pricing, and beyond. In a world of freemium, free-to-play and declining ad effectiveness, proven ability to turn users into dollars is a valued asset. Corum Top Ten Disruptive Technology Trends 2018 21 Differentiation drives new value in a sleepy sector #6: Focused IT Services Service firms specializing in a technology, sector or problem are seeing increased value. Intricate platforms require particular expertise for application, maintenance, and extension of tech stacks. Buyers value deep domain knowledge as a driver of defensible long-term customer relationships. Firms on the forefront of key trends & high-value verticals seeing particular interest. Corum Top Ten Disruptive Technology Trends 2018 22 Moving things & people with a new level of efficiency #7: Smart Logistics Movement of physical objects must increasingly keep pace with the movement of data. At the convergence of trends in AI, latent capacity utilization, ecommerce, consumer demand. Impact beyond traditional SCM, in multiple verticals including: Transportation Manufacturing Construction Agriculture Corum Top Ten Disruptive Technology Trends 2018 23 Linking people to their health services & data #8: Connected Health Technical, regulatory and demographic changes drive shift from system-centric to patient-centric health IT. Patients demand consumer- grade connections to data and providers. Providers need tools that help them compete. Notable demand for telemedicine, patient engagement, mobility & transparency solutions. Corum Top Ten Disruptive Technology Trends 2018 24 Letting computers keep up with compliance #9: Regtech Systems The complexity of dealing with regulatory change is increasing. Rules in software becoming intrinsic to laws, mandates & agreements. Solution sets backed by legal requirements draw significant acquirer interest. Interconnected regulatory systems make consolidation of point solutions particularly attractive. Corum Top Ten Disruptive Technology Trends 2018 25 Building barriers in an age of blurred lines #10: Data Security New technologies creating new risks from freer flowing data. High impact breaches & attacks (Equifax, Uber, WannaCry) drive broad recognition of security needs. Dominant trend is anti-malware, especially automation and AI- enabled tools. The Internet of Things opened a new front, from IoT botnets to hijacked smart speakers. Corum Top Ten Disruptive Technology Trends 2018 26 MARKET OVERVIEW VALUATIONS 27 $3 Trillion $1 Trillion Cash Available for Acquisitions Strategic Tech Buyers Private Equity 28 Top Strategic Acquirers 2017 32 27 18 13 13 12 12 12 12 12 12 11 11 29 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Top Private Equity Acquirers 2017 38 28 23 21 17 16 16 15 15 14 14 14 13 12 30 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 5.00 x 5.50 x 6.00 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 24.00 x EV/S EV/EBITDA Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 EV/EBITDA 21.12 x 20.23 x 20.56 x 20.78 x 19.66 x 19.25 x 19.18 x 19.65 x 19.73 x 21.01 x 22.35 x 22.46 x 22.16 x EV/S 4.35 x 4.30 x 4.33 x 4.60 x 4.47 x 4.51 x 4.57 x 4.75 x 4.75 x 5.03 x 5.28 x 5.32 x 5.32 x 31 Subsector Sales EBITDA Examples Business Intelligence 4.05x 23.63x Marketing 5.06x 23.54x CRM 7.31x 95.06x ERP 4.68x 18.08x Human Resources 7.10x 37.04x SCM 5.72x 28.59x Payments 5.33x 24.03x Other 3.44x 20.00x Horizontal Application Software Valuations 32 Vertical 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 5.00 x 5.50 x 6.00 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/S EV/EBITDA Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 EV/EBITDA 18.47 x 19.87 x 19.89 x 20.43 x 19.70 x 18.31 x 19.29 x 20.25 x 20.62 x 20.46 x 20.48 x 19.93 x 18.05 x EV/S 5.15 x 4.88 x 5.31 x 5.35 x 4.82 x 4.67 x 4.50 x 4.72 x 4.76 x 4.74 x 4.96 x 4.97 x 4.36 x 33 Subsector Sales EBITDA Examples A/E/C 7.92x 26.89x Automotive 4.05x 15.33x Energy & Environment 2.62x 13.96x Financial Services 6.22x 20.17x Government 2.01x 13.34x Healthcare 3.55x 25.78x Real Estate 4.24x 18.05x Vertical Other 3.03x 15.58x Vertical Application Software Valuations 34 Consumer Application Software Market Public Valuation Multiples 1.00 x 1.50 x 2.00 x 2.50 x 3.00 x 3.50 x 4.00 x 4.50 x 5.00 x 7.00 x 9.00 x 11.00 x 13.00 x 15.00 x 17.00 x 19.00 x 21.00 x EV/S EV/EBITDA Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 EV/EBITDA 14.49 x 16.65 x 18.01 x 18.88 x 18.64 x 19.04 x 17.90 x 16.90 x 17.76 x 17.72 x 17.35 x 19.07 x 16.25 x EV/S 2.63 x 2.91 x 3.89 x 3.93 x 3.46 x 4.04 x 3.56 x 3.30 x 3.21 x 3.08 x 3.12 x 3.22 x 2.84 x 35 Subsector Sales EBITDA Examples Casual Gaming 2.84x 17.07x Core Gaming 2.86x 9.69x Other 1.78x 79.87x Consumer Application Software Valuations 36 Internet Market Public Valuation Multiples 1.00 x 1.50 x 2.00 x 2.50 x 3.00 x 3.50 x 4.00 x 4.50 x 5.00 x 5.50 x 7.00 x 12.00 x 17.00 x 22.00 x 27.00 x 32.00 x EV/S EV/EBITDA Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 EV/EBITDA 26.95 x 25.76 x 26.58 x 28.79 x 21.30 x 18.16 x 21.77 x 21.09 x 22.44 x 22.28 x 18.84 x 18.61 x 16.55 x EV/S 4.89 x 4.11 x 4.64 x 4.78 x 4.76 x 4.84 x 4.37 x 4.26 x 4.11 x 4.09 x 4.58 x 4.47 x 3.85 x 37 Subsector Sales EBITDA Examples Diversified Internet 4.35x 16.56x eCommerce 0.52x 22.09x Social Network 7.61x 13.91x Travel & Leisure 5.98x 20.28x Internet Application Software Valuations 38 Infrastructure Software Market Public Valuation Multiples 2.00 x 2.50 x 3.00 x 3.50 x 4.00 x 4.50 x 5.00 x 5.50 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 EV/EBITDA EV/S Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 EV/EBITDA 14.66 x 16.09 x 18.15 x 18.22 x 16.23 x 15.90 x 16.39 x 17.13 x 16.92 x 17.06 x 17.75 x 17.67 x 17.75 x EV/S 3.95 x 4.09 x 4.44 x 4.78 x 4.84 x 5.02 x 4.98 x 4.87 x 4.80 x 4.78 x 4.88 x 5.01 x 4.43 x 39 Subsector Sales EBITDA Examples Endpoint 3.79x 17.24x IT Services Management 4.49x 15.28x Network Management 3.82x 13.50x Security 6.94x 32.31x Storage & Hosting 3.29x 43.83x Other 4.48x 10.70x Infrastructure Software Market 40 IT Services Developed Markets Public Valuation Multiple 0.40 x 0.60 x 0.80 x 1.00 x 1.20 x 1.40 x 1.60 x 5.00 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 EV/S EV/EBITDA Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 EV/EBITDA 12.86 x 12.26 x 12.21 x 12.96 x 12.32 x 12.15 x 12.31 x 12.16 x 11.94 x 12.90 x 12.87 x 12.88 x 11.02 x EV/S 1.36 x 1.34 x 1.31 x 1.53 x 1.32 x 1.34 x 1.38 x 1.32 x 1.18 x 1.31 x 1.34 x 1.32 x 1.22 x 41 IT Services Emerging Markets Public Valuation Multiples 0.40 x 0.90 x 1.40 x 1.90 x 2.40 x 2.90 x 3.40 x 3.90 x 5.00 x 7.00 x 9.00 x 11.00 x 13.00 x 15.00 x 17.00 x 19.00 x 21.00 x 23.00 x 25.00 x EV/S EV/EBITDA Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 EV/EBITDA 21.18 x 23.26 x 22.67 x 23.09 x 21.70 x 22.02 x 21.30 x 20.22 x 22.01 x 20.61 x 22.04 x 21.93 x 19.64 x EV/S 3.40 x 3.55 x 3.71 x 3.33 x 3.32 x 3.20 x 3.22 x 3.27 x 3.44 x 3.61 x 3.70 x 3.66 x 3.26 x 42 Subsector Sales EBITDA Examples Developed 1.22x 11.02x Emerging 3.26x 19.64x IT Services Valuations 43 Since November 2017 303 announced Tech Deals Deal size *ranges from sub 0.1M - 4.0B for disclosed amounts; Median is 20M Revenue multiples range from 0.2x 10.5x for disclosed amounts 31% of sellers offered a SaaS platform 57% of deals had international buyers Key Markets: ERP; content creation and management; security software Key Verticals: Insurance software and services; financial services Education UK and Ireland Sellers Brief Overview * for published deal values 44 Deal Spotlights Dovetail Digital [London] acquired by EMIS Group [Leeds] Nov. 2018 Transaction value: 1.5 million Blockchain-based data management software for healthcare patients and providers Rant & Rave [Coventry] acquired by Upland Software [USA] Oct. 2018 Transaction value: 50 million Customer and employee analytics and engagement SaaS MetaPack [London] acquired by Stamps.com [USA] Jul. 2018 Transaction value: 174.1 million; 4.5x revenue Parcel shipping and tracking management SaaS Avecto [Manchester] acquired by Bomgar Corporation [Francisco Partners] [USA] Jul. 2018 User privileged access management (PAM) and privileged identity management (PIM) software NCC Group (Web performance division) [Manchester] acquired by Eggplant [Carlyle Group] [USA] March 2018 Transaction value: 7.5 million Web performance division of NCC, offering AI-enabled application performance monitoring SaaS 45 Deal Spotlights Keywords Studios [Ireland] bought 4 gaming-related firms in England: The TrailerFarm [Brighton] September 2018 Transaction value: 1 million Online video trailers for the marketing of video games Studio Gobo [Hove] August 2018 Transaction value: 15 million Outsourced video game development services Fire Without Smoke [London] May 2018 Transaction value: 4.7 million Digital and traditional marketing services for the video game sector Cutting Edge Group (music-focused branding & services assets) [London] April 2018 Transaction value: 4.5 million Music-focused branding and services assets of Cutting Edge Group, which offers music services for the film, television, gaming and advertising industries 46 1. Disruptive trends Strategic imperative to buy 2. Cash Strategic & financial buyers 3. Low cost debt for leveraged buyouts 4. Many new buyers (IPOs, non-tech) 5. Strong financial markets 5 Reasons Tech M&A Will Remain Strong 47 1. Geopolitical Disruption 2. Currency Crisis 3. Inflation Increasing 4. Rising Interest Rates 5. Stock Market Adjustment 6. M&A Cycle Ends 6 Global M&A Concerns 48 1. Consolidation of Market Segment 2. Game-changing Tech Paradigm Shift 3. Personal/Partner/Management Health 4. Conflict Founders/Investors/Personal 5. Litigation/Negligence/Criminal Acts 6. Death or Incapacitation 6 Personal/Company M&A Concerns 49 M&A Follows Cycles 1995 2000 2005 2010 2015 2005 2010 2018 50 ACHIEVING AN OPTIMAL OUTCOME 51 Buyer Seller The Inherent Problem in M&A Price Structure Liabilities Taxes Non Competes You will be diametrically opposed on everything while negoiating with your future boss 52 More time regulatory & compliance environment More tasks than people realize Busy buyers reviewing 100s of opportunities More & tougher outside professionals More complex due diligence required Not just a checklist collaborative process Deal fatigue Letter of Intent (LOI) to close The M&A Process is Tougher 53 Your Goal: an Optimal Outcome 54 Valuation Maximization 55 55 Creating the best transaction structure 56 Minimizing personal liability/risk 57 Reducing tax liability and holdbacks 58 Structuring ideal employment/non-competes 59 Providing for proper integration 60 8 Stages for an Optimal Outcome Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation 61 Stage 1: Preparation Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Set tasks, timeline Allocate staff resources Conduct internal due diligence Compile business/marketing plan Ready financials/projections Ready presentation materials Begin collecting due diligence materials 62 Stage 2: Research Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Prepare buyers list (A&B level, financial, non tech) Perform strategic analysis on each buyer Prepare preliminary valuation Determine proper contact (Execs, EA's, advisors) Outside advisor/board/investor influencers Prepare position statement for each buyer 63 Stage 3: Contact Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Create introductory correspondence Draft/customize executive summary Execute NDAs and non-solicitations Screen initial interest, valuation expectations Establish log on all communications Refine position/process based on feedback 64 Stage 4: Discovery Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Coordinate conference calls, site visits, and meetings Establish technology review process Prepare formal valuation report Develop synergy and contribution analysis Set up NDA with customers, contractors, etc. Finish due diligence on buyer 65 Stage 5: Negotiation Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Organize and host final visits Provide structure & valuation guidance Create an auction environment Negotiate with top bidder(s) Sign Letter of Intent (L.O.I.) Inform other bidders of No Shop 66 Stage 6: Due Diligence Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Verification of financial statements/projections Determine if outside advisors/opinions needed Establish confidential data room Technical/Legal/Ownership due diligence Written explanation of business model/methodologies Complete definitive agreement/ attachments 67 Stage 7: Closing Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Final reps & warranties Determine escrow hold-backs Final opinion(s) Sign contracts Arrange payment/distribution Regulatory filings Disclosure schedules 68 Stage 8: Integration Integration Closing Due Diligence Negotiation Discovery Contact Research Preparation Advanced planning during negotiation Determine synergies Best practices analysis Interim transition team Employee retention plan Set up monitoring/reporting 69 1 to 5+ offers 1 to 5+ 20 to 200 global buyer candidates 20 to 200 3 to 8 qualified parties 5 to 15 NDAs Optimal Outcome by the numbers 700 to 1000 communications of various kinds 700 to 1000 10 to 30 expressions of interest 10 to 30 5 to 15 3 to 8 70 With a Professional Global Search 9 12 months required to complete because of workload, regulatory & compliance concerns, third party due diligence (DD) investigations and buyer organizational complexity. you can generate interest very quickly, but buyers are constrained in how fast they can move. 71 Resell/License Do you want to buy my company? J.V./Alliance M&A Uniquely Allows Entry to Top Execs CEO MKT FIN MANF DIV DIV DIV DIV DIV DIV DIV DIV DIV The only time you can go straight to the top 72 5 Major Benefits of a Professional Process Model The preparation process will help forge a better business model for your firm 1 Research Your strategic position will improve from the research/ positioning process 2 Market Feedback Buyer contact will provide invaluable data/insights to help improve your value 3 Relation- ships Not everyone is a buyer, but you open many doors which will yield business 4 Exit The merger, asset sale, or financial recap of your company 5 72 Any of these benefits will justify the time and expense of a global partner search. 73 74 Sold again in 2 years for $100 million (6x) 75 Sold for $56M (.6x) missed the window Market cons lidatedCompany A bought Company B! 76 AVOIDING THE DEAL DISASTERS 77 Lessons From Experience This M&A process workload and pitfall analysis is based on data supplied by the World Technology Council (WTC), Corum's 500-member advisory board of past sellers, industry experts, buyers and investors. Top 60 Documents and Projects Top 6 Value Destroyers Sellers' Single Biggest Mistake Top 10 Deal Killers 78 Corporate Preparation Business Plan Marketing Plan Org Chart Staff Bios NDA Non Solicitation Executive Summary Introduction Letter Financials (3 years) Recast Financials Financial Package 3 Year Projections Pipeline Analysis Lead Process Pricing Analysis Market Research Competitive Research Buyer Research Ind. Buyer Strategy Top 60 Documents & Projects (1-20) Items in RED require professional skills, confidential M&A data, inside buyer knowledge, extensive transaction experience, or outside advisors 79 Corporate Presentation Comparable Transactions Industry Comps DCF Analysis Replacement Cost Terminal Value Valuation Report All Agreements All Litigation Threats Shareholder Qualification HR Needs Audit Activity Log Terms Sheet(s) Synergy Analysis Dilution Analysis Tax Analysis Taxable Assets Negotiation LOI Top 60 Documents & Projects (21-40) Items in RED require professional skills, confidential M&A data, inside buyer knowledge, extensive transaction experience, or outside advisors 80 Stand Still Prep. Outside Opinions DD Checklist DD Timeline Merger Agreement Asset Schedule Fairness Opinion Employ. Agreement Non Competes Patent Analysis Customer Overview Client Sign-off Bulk Sale Sovereign Approval Proxies Security Agreements Registration Shareholder Exp. Distr. Announcements Integration Process Top 60 Documents & Projects (41-60) Items in RED require professional skills, confidential M&A data, inside buyer knowledge, extensive transaction experience, or outside advisors 81 1. Confidentialityinternal/external 2. Theft of technology 3. Loss of staff (non-solicitation) 4. Wear on CEO/management 5. Business drop-offlack of focus 6. Going to market too late Top 6 Value Destroyers 82 They are trying to lock you up Often demand exclusive negotiations Don't want you talking to others Want to pay less than true value Remember your fiduciary obligation! Seller's biggest single mistake dealing with only one buyer 83 Top 10 Deal Killers 1. Dealing with only one buyer 2. Misalignment: shareholders/empl/mgmt 3. Contact at the wrong level 4. Improper research of potential buyers 5. Misunderstanding buyer process/models 84 Top 10 Deal Killers 6. Inability to portray value properly 7. Improper due diligence preparation 8. Not qualifying buyers properly 9. Not orchestrating all buyers properly 10.Ego Greed Arrogance 85 THE MOST IMPORTANT TRANSACTION OF YOUR LIFE CLOSING THOUGHTS 86 This seller is serious. Leverage using a Professional Intermediary I may not be the only bidder. Potential Acquirer Seller Intermediary Wonderful if I buy you, terrible if I don't. 87 Tech M&A Guideline Percentages Buyer solicitations that result in transaction Average improvement from first offer with an auction process How often another firm is willing to pay more than the initial bidder Deals involving only one bidder that are suboptimal Failure rate in "self-managed" tech M&A 88 After the Deal Celebration 89 Contact Information Visit our website at: www.corumgroup.com Corum Group International S..r.l. Buechenstr. 9 8185 Winkel Switzerland +41 43 888 7590 Peter Prince, Sr. Vice President London Office Email: firstname.lastname@example.org Office: +44 20-7661-8961 Mobile: +44 (0) 776 666 1429
Manchester, 27 November 2018
Tech Investment and Growth Advisory for Series A in the UK, operating in £150k to £5m investment market, working with #SaaS #FinTech #HealthTech #MarketPlaces and #PropTech companies.