I decided to answer a very basic, but important question about M&A, given that we often talk about strategic acquisitions. Q: What’s the difference between a financial and a strategic buyer? A: A financial buyer brings little inherent value to the transaction. Typically they bring capital and capital allocation knowledge, but usually no specific knowledge […]

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The biggest tech M&A disasters were the Time Warner-AOL $350 billion merger and Google’s $12.3 billion acquisition of Motorola Mobility.  In my observations, the greatest hurdle facing tech mergers is integration. Even where the strategy of the acquisition is solid, if the integration of the two workforces and assets is not executed properly, it will fail.  Even […]

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AOL has announced it will acquire Adap.tv, a video advertising platform, for $405 million cash and stock. Adap.tv’s proprietary technology allows advertisers to control their video advertising across different media channels, permitting AOL to provide customized advertising based on viewers habits and location. Internet media companies are targeting video because of higher advertising revenues. Even […]

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AOL is reportedly paying $315 Million for the Huffington Post with most of the payment in cash.  Must be some former Time Warner shareholders who remember how it worked out for them to take stock.  The strategy is to bring content to AOL’s pipeline.  Sound familiar?  Huffington currently has revenues of around $50 Million – […]

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On this blog previously, David discussed some of the issues surrounding the AOL-Time Warner merger.  Given that the ten year anniversary of the merger was recently marked, I wanted to re-visit the ill-fated deal to explore it a little more in-depth. AOL and Time Warner merged to create the “world’s first Internet-age media and communications […]

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