The VC Guide to
Mergers & Acquisitions

Exceptional founders.
Extraordinary journeys.

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Welcome to Notion Capital’s M&A Report

At Notion, we are big fans of acquisitions, so long as they are appropriately thought through and sensibly structured. We believe that they can add tremendous value and can also de-risk execution against strategic goals for the acquiring party. Yes, there are plenty of examples where acquisitions haven’t worked, but there are also many more where they have. In the rest of this report, you will hear the M&A perspectives of some of the entrepreneurs in our own portfolio, alongside advice from experts in getting acquisitions profitably over the line.

We hope you find their stories inspirational and that they help put the idea of acquisition where it belongs on your strategic agenda.

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Ian Milbourn
CFO & General Partner, Notion Capital

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Take a look at our top takeaways 


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An acquisition makes sense when it is aligned with strategic goals…

That means filling in existing product gaps, increasing top-line revenue, expanding the company product portfolio or even elevating the profile of the company. Put simply, is it more efficient than growing on your own? Melissa DiDonato, CEO, Suse
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Closing the acquisition only gets you to the start line…

Be under no illusion: post-acquisition strategy and execution is everything. Process change is hard, and pushing fast can make this harder, so resist the natural desire to get ‘post integration’ done quickly. Ed Barrow, VP of Corporate Strategy, Optimizely
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Targets that create a “Wow” effect…

We look for businesses that we know and have already worked with. Relatively small in revenue but profitable. With great founders and a competitive edge on the tech side. Christian Lohmann, COO, Dixa
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For an M&A to work, the people must work.

Be brutal about putting the right people in the right seats fast. Address disparities in pay upfront, and systematically rather than on a case-by-case basis. Engage face-to-face and in person across the teams whenever you can. Justin Fitzpatrick, Co-founder and COO of FullCircl (formerly Artesian:DueDil)
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We hope you enjoy the report!

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