C-Circle – What is Hot and What is Not

Date: Thursday, March 16, 2017
Time: 8:00am-10:00am
Location: Morgan Lewis
1400 Page Mill Road
Palo Alto, CA 94304


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The ACG Silicon Valley C-Circle, now in its fifth year, proudly announces that it has attracted a following of approximately 250 CEOs and C-Level executives and achieved a regular attendance of 35 executives per session.

Topic

Mergers & Acquisitions 2017
What is Hot and What is Not

2015 was a record for combinations. 2016 started poorly and activity lagged until October 2016 when we saw the biggest month ever for US M&A activity. With many of President Trump’s policies unclear, rising interest rates, the impact of Brexit, debt levels in the European Union, turmoil in the Middle East and an uncertain relationship with China, one may lean toward pessimism. However, on the other hand, there are many reasons to be optimistic. The confidence levels of small business owners are the highest since 1984, and the Trump Administration is looking to roll out a “pro-growth” agenda for the US. Most economists have increased the projected economic growth rates for 2017. The amount of cash available for acquisitions is high and many companies continue to see acquisitions as a strategic imperative.

Please join us for a stimulating discussion with our experts on the outlook for mergers and acquisitions and what is hot and what is not.

  • Is the US market for M&A attractive, neutral or poor?
  • Although “mega deals” are in the news, are middle market deals still expected to dominate 2017?
  • Is it true that in a recent KPMG study, 84% of those surveyed expect to initiate an acquisition in 2017 and 75% expect to do multiple deals?
  • What is driving M&A activity in the US?  Market share?  IP?  Talent?
  • Will technology be the most active deal sector?  Why?
  • What areas within the tech sector are “hot” or expected to be “hot”?
  • What sectors will see a decrease in M&A activity?
  • Is technological disruption motivating deals?
  • What other sectors will see substantial activity?
  • Are we seeing a wave of consolidation in certain industries?
  • What is the outlook for valuations?
  • What are the headwinds that could negatively affect M&A activity?
  • What types of companies are viewed as attractive in the current environment?
  • Have the acquisition criteria among strategic and financial buyers changed in the last two to three years?
  • How important is intellectual property in a typical deal?
  • How important is the management team and employees in a typical deal?
  • What are the typical mistakes that entrepreneurs make in building their companies that impact their ability to get acquired or receive a higher valuation?
  • What are some of the mistakes that entrepreneurs make in the deal process?
  • Are foreign buyers active?
  • Will rising interest rates affect deal activity?
  • What should entrepreneurs looking to sell their companies in the short and medium term be thinking about?

 

Guest Experts

 

J.P. Ditty

Managing Director
KPMG Corporate Finance LLC

J.P. Ditty is a Managing Director of KPMG Corporate Finance’s U.S. Technology practice. J.P. serves and expands relationships with clients in the Technology sector with a focus on M&A advisory services and private capital raises. J.P. has over 15 years of experience in executing mergers and acquisitions, investment banking, private placements, and tax & business advisory.

 

Mihir Jobalia

Managing Director
KPMG Corporate Finance LLC

Mihir leads KPMG Corporate Finance’s Technology practice in Silicon Valley. As a leader in Corporate Finance, Mihir serves and expands relationships with clients in the Technology sector with a focus on M&A advisory services and private capital raises.

Mihir has over 16 years of experience in executing mergers and acquisitions, private placements, divestitures, recapitalizations, IPOs, follow-on offerings, and delivering fairness opinions.

Prior to joining KPMG CF, Mihir served as Managing Director of investment banking at Morgan Keegan Technology Group. In this role, he provided support for technology, financial, and M&A transactions for venture capitalists, private equity firms, and high-tech companies in the Silicon Valley market.