Case Study

Overview

• Extended Results is a privately-held provider of mobile business intelligence software and services based in Redmond, Washington.
• The company makes business intelligence personal by presenting up-to-the-minute key performance indicators on virtually any mobile device.

Situation

• Extended Results was founder-owned with no institutional capital and the founder desired a liquidation event.
• Founder was a technically-oriented leader who valued a partner that could remove the administrative burden of operating the business, allowing him to focus on the software development.
• A cash transaction was desired.

Cascadia Process

• Cascadia ran a narrow strategics-only process targeting large public companies.
• Cascadia garnered a strategic software revenue multiple valuation with 100% cash at close for a business that derived the bulk of its revenue from IT services; transaction closed in under five months.
• Cascadia negotiated a large retention package for the founder, plus a favorable working capital position at close, representing incremental value to the shareholder of approximately 5% of the gross transaction value.