M&A Science

Keith Crawford, the Global Head of Corporate Development and M&A at State Street, shares over 20 years of M&A expertise. He discusses the intricacies of carve-out transactions, emphasizing that each deal requires a unique approach. Keith reveals strategies for proactive sourcing and highlights the importance of aligning synergies with realistic integration timelines. He also touches on potential pitfalls, like employee retention and managing third-party contracts, offering insights on how to navigate these challenges effectively while preserving company culture.

Johanna Jaakola – Integration Lead, Corporate Development Integration Team, Cisco Tesia Hostetler – Leader, Acquisition Integration Practice, Cisco Johanna Jaakola, Integration Lead on Cisco's Corporate Development Integration Team, and Tesia Hostetler, Leader of Cisco's Acquisition Integration Practice, continue their deep dive into Cisco's integration-led M&A framework. In Part 2, they reveal how integration planning shapes diligence, how value drivers guide surgical execution, and what it takes to coordinate a 180-person M&A community. From day one employee experience to go-to-market complexity and the Splunk mega-deal, this episode delivers practical frameworks for M&A professionals looking to accelerate value creation while protecting what matters most. Things you will learn: Learn how Cisco tests integration strategy during diligence and adjusts execution plans based on findings without losing sight of deal thesis Discover how Cisco structures functional integration leaders, maintains alignment through recurring touchpoints, and tracks everything in a centralized M&A hub Understand how to validate customer stories, align partner ecosystems, and make surgical decisions about when to integrate sales motions versus protecting existing revenue engines _____________________ M&A Doesn't Have to Be So Painful 💔 Get Optimized with DealRoom DealRoom helps corporate development teams take control—streamlining diligence, syncing integration, and eliminating the back-and-forth. 👉 Learn how you can run a repeatable, buyer-led process at DealRoom.net ____________________ This episode is brought to you by S&P Global. Today's episode of M&A Science is brought to you by S&P Global Market Intelligence. If you're in corp dev or PE, you know the pain — good private company data is hard to come by. Everyone's still chasing clean, reliable, up-to-date data. I started out using CapIQ Pro for public comps, but didn't realize until recently how deep their private company coverage has gotten. Over 58 million private companies, global reach, and actually usable for real deal work. This isn't surface-level. You get real metrics — ownership, financials, funding rounds, even asset-level insights. So if you're still toggling between a dozen tools trying to piece together the picture, maybe it's time to stop guessing and start sourcing better. Learn More Here: https://www.spglobal.com/market-intelligence/en/solutions/products/private-company-data?utm_source=podcast&utm_medium=video&utm_campaign=MAScienceH225 _______________ Questions, comments, concerns?Follow Kison Patel for behind-the-scenes insights on modern M&A.

Tesia Hostetler, leader of Cisco's Acquisition Integration Practice, and Johanna Jaakola, Integration Lead at Cisco, delve into Cisco's robust M&A strategies. They discuss the critical role of integration leads in orchestrating due diligence to ensure strategic alignment before finalizing deals. Highlights include insights from Cisco's $28 billion Splunk acquisition, the importance of crafting integration theses alongside deal theses, and how their dual approval process establishes essential checkpoints throughout the negotiation stages. Cultural differences and adaptability are also key themes.

Tim Hall, Managing Partner and Founder of Brenton Point Capital, shares nearly 30 years of private equity wisdom. He dives into why integration, not just aggregation, drives real value in buy-and-build strategies. Tim explains the power of the independent sponsor model, contrasting it with traditional funds. He highlights the importance of cohesive cultural integration and how to build platforms from the ground up. Listeners discover insights on recruiting operators, structuring management incentives, and avoiding common pitfalls in M&A.

Stefan Williams, Vice President of Corporate Development at Snowflake, shares insights from his extensive M&A experience. He discusses the importance of starting small with acquisitions to build integration capabilities. Stefan emphasizes accountability in post-acquisition integration and the necessity of strong relationships with CEOs. He dives into the balance between proactive deal-making and the fast-paced AI landscape, highlighting how culture fit is crucial for successful mergers. Lastly, he reflects on strategic investments that align with Snowflake's growth.

Hilary Shirazi, Head of Corporate Development at Notion, offers insights from her impressive M&A background at LinkedIn and Pinterest. She details her deal thesis methodology, emphasizing clarity before targeting acquisitions. Hilary introduces the 'Four T's' framework—Talent, Tech, Traction, and Terrain—to refine acquisition strategies. She advocates for integrating processes more fluidly, arguing that a CorpDev-led approach enhances agility. Hilary also discusses leveraging AI in M&A and building community support for corporate development.

Jennifer Miller, Senior Director of Corporate Development at Oshkosh Corporation, shares her extensive expertise in M&A and corporate venture capital. She discusses the evolution from financial-focused CVC 1.0 to the strategic innovation partnerships of CVC 2.0. Jennifer reveals how to efficiently manage over 400 deals annually, emphasizing thematic prioritization and rapid technical assessments. She also provides insights into structuring IP agreements to foster collaboration while safeguarding both corporate and startup interests.

Nicole Markowski, former Director of Business Integration and Operations at Wipfli, shares her insights from managing over 30 transactions. She discusses the importance of integrating human factors into deal economics to prevent value destruction. Markowski highlights the need for integration leaders to be involved early and the challenges of maintaining a human touch in scaling M&A operations. The conversation delves into the critical differences between project managers and true integration leaders, emphasizing collaboration and cultural diligence in successful integrations.

Byron Lichtenstein, Managing Director at Insight Partners and a veteran in scaling M&A operations, shares his insights on buyer-led M&A strategies. He discusses the importance of strategic positioning and how to align acquisitions with customer needs. Byron also outlines types of M&A deals and emphasizes the need for dedicated integration efforts. He highlights the significance of transparent communication in navigating the emotional landscape of M&A, ensuring successful partnerships across Insight's extensive portfolio.

In this discussion, Javier Enrile, Managing Director of M&A at TIAA, shares his expertise in corporate M&A and private equity. He highlights the importance of relationship-building over aggressive auction processes for creating competitive advantages. Javier dives into sophisticated valuation techniques, separating intrinsic value from market noise, and addresses the essentials of deal structuring to safeguard against risks. Listeners gain insights into dynamic negotiation strategies and the critical integration of valuation, diligence, and deal structuring for M&A success.