Inside Fidelity’s $80 Million Acquisition of SkySlope

Hand shake for business acqusition

Inside Fidelity’s $80 Million Acquisition of SkySlope

“Tyler Smith started the software platform Skyslope in 2011 and eventually sold it to Fidelity in 2016 for over $80 million,” shares Sam Thompson an M&A advisor and the president of M&A firm Transitions In Business. “This episode covers how to identify the ideal acquirer for your business and how to successfully move from a Letter of Intent to closing.”

In 2011, Tyler Smith, one of the top three real estate agents in California, launched SkySlope, a software platform that enables real estate professionals to efficiently manage their transactions, documents, and communication in one centralized system.

Smith successfully bootstrapped the company to around $12 million in annual recurring revenue by 2016, attracting significant attention from potential acquirers. Among the interested parties, Fidelity National Financial emerged as the ideal fit, acquiring 67% of SkySlope in a deal valuing the company at over $80 million. In this episode, you’ll learn how to:

  • Use a “put option” to limit your downside in acquisition.
  • Deal with employees that feel unfairly treated in an acquisition.
  • Avoid the feeling of vulnerability that accompanies the diligence process.
  • Distinguish an IOI from an LOI.
  • Test market a new product effectively.
  • Improve customer experience (CX) to grow your company.
  • Identify the ideal acquirer for your business.
  • Utilize a unique negotiation tactic to increase an offer from an acquirer.
  • Ensure success moving from a Letter of Intent to a successful sale.
  • Navigate the intricate journey of transitioning from a majority owner CEO to a minority owner.

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