Standing Up with Corporate Development Function
“M&A is not an everyday type function in terms of business operations. It’s more important than filling out expense reports… No disrespect to anyone who handles that as part of their day job. But I find people around the company want to be part of it, so the trick is really managing them and their involvement - Especially if you’re working with people who may not have a lot of deal experience.”
Guiding principles to apply to your corporate development function
On this episode, Kison Patel speaks with Russ Hartz, VP of Corporate Development at ANSYS, Inc. and former VP of Corporate Development at SAP. He’s an experienced Corporate Development professional with specific expertise in M&A and investments and post-merger integration. His role at ANSYS involves M&A strategy and deal sourcing, as well as managing transaction execution.
Together, Kison and Russ discuss best practices he’s learned at SAP, how he was able to bring those best practices over to ANSYS, guiding principles he focuses on during a transaction, and how to begin building an integration process at a company that doesn’t have one. Russ also discusses how deal strategy affects company alignment and how he measures the success of a post-merger integration.
“You have to understand the business deal, what’s most important to the client from the business perspective, and you need to understand numbers - the target’s financial statements and the dynamics that play in the target’s financials.”