The Multi-Million Dollar Question

Client Problem

Our client, a medium-sized publicly-traded network technology company was engaged in an acquisition of a technology portfolio company that included an assembly facility, distribution channel and revenue growth.  During initial due diligence, a significant volume of technology licensing arrangements, billable agreements and outstanding notes were identified.  Our client realized that to truly understand the asset/risk portfolio they needed somebody familiar with not only the technology business, but somebody who could advise on their findings relevant to the intended transaction.  In-House Legal needed to find an economical solution to handle this critical path and had limited In-House resources to supervise the work.

 

Hire Counsel Solution

Hire Counsel conducted a needs-analysis focused on the nature of the acquisition target, the timeline, business goals and budget.   Within 48 hours Hire Counsel identified a uniquely qualified Corporate Transaction Specialist with deep expertise in Technology and M&A who could work inside the In-House Legal department alongside the deal team.   In one month, the Corporate Transactions Specialist completed the critical due diligence process and delivered an executive brief including a qualitative analysis of the technology licensing agreements and a legal evaluation of the active revenue contracts.

 

Results

  • Faster yet more thorough due diligence: the Corporate Transactions Specialist focused exclusively on the due diligence without distraction while working onsite with the Client team allowing the Company to complete the due diligence tasks far ahead of the scheduled target date.
  • Value and Cost Savings: By taking the process in-house, the Client completed this process for a fraction of the cost to hiring a permanent lawyer or outsourcing to outside counsel. The Corporate Transaction Specialist had significant experience and was able to create tremendous value for the client by running the process and delivering the results.
  • Key Findings: The work performed by this individual convinced senior management that this was not the right deal for them in the end. According to the General Counsel this decision was due in great part to the ability of Hire Counsel’s Corporate Transactional Specialist to deliver objective and thorough due diligence.