When a large buyer’s Corporate Development staff submits a deal for senior sign off, they require a clear, articulated case for value.
Orca advised RuleSpace, of Portland, OR, when they were acquired by Symantec, of Mountain View, CA. RuleSpace offers a unique combination of database lookups and real-time analysis for accurate categorization of unknown or dynamic web sites, especially useful in dealing with sites containing user generated content like Facebook, Twitter and YouTube.
Symantec, one of the world’s largest software companies, acquired RuleSpace technology to enhance Symantec’s enterprise Software-as-a-Service security portfolio, and to complement its enterprise and consumer Web security offerings.
Suddenly, a single suitor
RuleSpace called in Orca Capital in the morning. Symantec wanted to move swiftly to acquire them. RuleSpace welcomed the overture, and sought the benefits of representation in the transaction.
Orca was in their offices that afternoon, and was quickly hired.
Signaling Market Readiness
In retaining Orca, RuleSpace came to the process ready to transact, and to transact more broadly if need be. With Orca’s guidance, RuleSpace stepped carefully through the transaction. Though they already had a suitor, they signaled that they were ready to go to market with the deal if their one suitor did not meet their expectations. Orca worked with RuleSpace to craft a Business Summary that laid out the company’s strengths, market position, and financial future. This document enabled Symantec Corporate Development to communicate the value of the acquisition to senior management.
Orca’s representation in the negotiation of price and terms garnered RuleSpace optimal results for their stakeholders. The acquisition of RuleSpace by Symantec was closed, at price and terms highly acceptable to both sides, and in a short timeframe.