Getting your company acquired in a contracting economy may seem farfetched, but it's not impossible, according to Brian Fox, president and founder ofThough the company now operates in over 170 countries, with over 16,000 accounting firms and 5,000 banks using its tools, it had a humble beginning in Fox's grandmother's garage.
"In light of the magnitude of the current shocks and the long-run potential transformations of various activities and services, the positive case for M&A seems much stronger than in a traditional recession or downturn," Spratt told Business Insider. "The opportunity to exploit different synergies — including shoring up apparent weaknesses — for the new normal is huge."
Fox said he believes the COVID-19 downturn will last for 18 to 24 months, and encouraged the use of outside-the-box thinking to beef up the bottom line while weathering harsh economic conditions. "When we went through both the private equity funding round and then our sale just two years later, having a seasoned and accomplished executive team that was hitting on all cylinders and driving our growth was a critical component that allowed us to achieve the valuation multiples we wanted," Fox said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gen Zers opening up consulting firms to help companies market to them - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
AI sensor startup Density raises $51 million to help businesses reopen - Business InsiderDensity, a startup using AI-powered sensors to help universities and meat packing factories make sure social distancing is being enforced, raises $51 million in a round led by Kleiner Perkins
Source: BusinessInsider - 🏆 729. / 51 Read more »
Instagram and TikTok help Poshmark resellers make sales, grow business - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stocks to buy, 26 companies poised to benefit from a weaker dollar: GS - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I want to crush the market
Source: BusinessInsider - 🏆 729. / 51 Read more »
Congress must extend $600 a week unemployment benefits, help communities of color - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. ArnabDatta321 IndivarD No deal in Congress will be made if they don’t extend it ArnabDatta321 IndivarD Why just color?!? Why not Americans?!? Divisive again by media. ArnabDatta321 IndivarD Find another way to help the unemployed. They may have backed up bills.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Help fund the struggling US Postal Service with this extraordinary $20 crop top - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Hahahah Ahhh no Fire the entire upper management team! They can’t even guarantee priority mail any more. No. They’ve cost my small business thousands of dollars in lost packages and ineptitude. They bankrupt themselves with greed. UPS all the way! TheKevinRice
Source: BusinessInsider - 🏆 729. / 51 Read more »