managing the acquisition project from the identification of the target company to the final decision validating the acquisition. The targeted company was eventually acquired.

This acquisition project was achieved in a carefully managed process, which can be split into the following three main phases:

1. Identification
2. Due Diligence
3. Acquisition

Identifying the company to be acquired relied on an initial analysis and screening of the corresponding business area. We highlighted a group of potential targets for which we did an in-depth qualification based on marketing, technical, financial and investment strategy criteria. Eventually, we came up with a target company which fulfilled the requirements.

We then started a due diligence process with this targeted company. We set up a project team composed of both our customer's staff and specific external resources. Three audits were managed simultaneously covering financial, legal and technical aspects. The due diligence enabled us to confirm that the targeted company fit precisely within our customer's strategy and that the acquisition was to be sought.

During the last phase we established the valuation, worked out the appropriate equity structure, and legal conditions along with a staff retention scheme. We defined a detailed integration plan, which is critical in ensuring the long-term worthiness of the acquisition. We had the work in progress regularly challenged by all the key decision making parties involved. Finally we produced a global report describing the acquisition project along with a presentation for the executive committee.

Our customer decided to acquire the targeted company.