Our client’s need
In 2012, Verisae, Inc. (Verisae), a leading global provider of SaaS, cloud-based solutions to large retailers, was acquired by a private equity firm. Recognizing the need to bring in professionals with deep, specialized acquisition and due diligence experience, Verisae engaged Baker Tilly to assist throughout the acquisition process.
Baker Tilly’s solution
Having served as Verisae’s auditor for approximately ten years and already being up-to-speed on the current acquisition, the Baker Tilly team was able to seamlessly begin working with management on the deal. In addition to their familiarity with the company, the team brought their deep understanding of the software and technology industry and relevant tax issues to the project. The team worked with management throughout the process by:
- Serving as a resource on highly technical questions from the private equity firm during the due diligence stage
- Providing guidance to management and participating in key meetings
- Analyzing the acquisition’s structure and ramifications, including tax consequences
- Determining impact on net operating losses (NOLs)
- Strategizing around tax cutoffs
- Structuring the new entity that would result from the acquisition
Baker Tilly provided support throughout the acquisition process in order to help ensure the acquisition progressed smoothly. While making decisions and negotiating with the private equity firm, Verisae relied on the analysis and financial information provided by Baker Tilly, as well as their deep experience with acquisitions.
By utilizing their current Baker Tilly team, Verisae was able to focus on maximizing the acquisition, instead of bringing a team of new advisors up to speed on their industry, situation, and company. Baker Tilly helped anticipate possible problems and promptly and thoroughly addressed questions, both from Verisae and the private equity firm. The hands-on support provided by Baker Tilly ensured an efficient, clean acquisition, allowing Verisae to close the acquisition on schedule and avoid potentially detrimental delays.
For more information on this topic, or to learn how Baker Tilly Software and Technology industry specialists can help, contact our team.