M&A insights for technology founders.
Insights and perspectives on M&A advisory, business valuation, and deal execution, written by operators who have been on both sides of the table.
Due Diligence
Non-Solicitation Agreements in M&A: What Founders Need to Know
Understand non-solicitation agreements in M&A before you sell. Learn how these restrictive covenants impact founders and hiring after the deal closes.
Due Diligence
What Is a Data Room in M&A and How to Structure It Properly
Discover what a data room is in M&A and how to structure it for success. Organize your Virtual Data Room (VDR) to streamline due diligence and close deals.
Due Diligence
M&A Data Room Checklist: What to Include, What to Hold Back, and When
A phased data room strategy protects your business while giving buyers what they need at each stage. Pre-LOI, post-LOI, and confirmatory diligence each require different levels of disclosure. Here is the complete framework.
Due Diligence
Due Diligence in M&A: What Buyers Investigate and How Findings Change the Deal
Buyers investigate five areas during M&A due diligence: financial, legal, operational, HR, and cybersecurity. A Quality of Earnings report can adjust your EBITDA by 10% to 30%. Here is what to expect, how findings affect price, and how to prepare before the process begins.
Due Diligence
Quality of Earnings (QoE): Why Buyers Commission It and Sellers Should Prepare
A Quality of Earnings report reconstructs your financials from transaction-level data. It is the single most important document in M&A diligence. QoE adjustments routinely move EBITDA by 10% to 25%, directly affecting the purchase price. Here is what the report covers and how sellers should prepare.
Valuation
Net Revenue Retention (NRR) in SaaS: 2026 Benchmarks and How to Improve Before an Exit
Top-quartile SaaS companies achieve 113% NRR and trade at 24x revenue. Bottom quartile: 98% NRR, 5x revenue. Based on McKinsey and SaaS Capital data, here is how to measure, benchmark, and improve NRR before a transaction.
Valuation
NRR Meaning: Why Net Revenue Retention Is the Metric Buyers Care About Most
NRR (Net Revenue Retention) measures how much revenue you keep and grow from existing customers. Above 110% signals a compounding business. Below 100% means you are shrinking from within. Here is what it means for your valuation.
Valuation
What Is MRR? Metrics That Matter in SaaS M&A
Learn why Monthly Recurring Revenue (MRR) is critical in SaaS M&A. Discover how buyers evaluate revenue quality and its impact on your business valuation.
Valuation
What Is ARR? How Annual Recurring Revenue Drives SaaS Valuation Multiples
ARR (Annual Recurring Revenue) is the metric that determines your valuation multiple. SaaS companies growing above 30% with strong ARR trade at 8x to 12x. Below 15% growth, expect 3x to 5x. Here is what counts as ARR, how to calculate it properly, and why buyers treat it as the starting point for every valuation conversation.