The Case For and Against Targeting a Software Company as a Searcher — What I Wish I Knew Earlier

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by an investor from Harvard University - Harvard Business School
in Toronto, ON, Canada

3mos ago

VIRTUAL meetup

61 attending

The Case For and Against Targeting a Software Company as a Searcher — What I Wish I Knew Earlier

· Virtual event

Software has become one of the most popular — and most misunderstood — targets in the search fund ecosystem. In this session, Steve Divitkos (former searcher and software CEO) draws on firsthand operating experience, proprietary survey data, and a decade of market evolution to examine the real tradeoffs of targeting a software company as a searcher. The discussion goes beyond surface-level advantages to explore valuation dynamics, operational complexity, the feasibility of non-technical CEOs, and the very different “types” of software deals that exist under a single label. The goal is not to advocate for or against software, but to help aspiring searchers make a more deliberate, informed industry choice before committing years of their careers to it. Expect to Learn: • Has software always been popular in the ETA ecosystem? • How has its popularity trended over time? • The Suitability of Software as a Target for Searchers: Basic merits & risks • Can a Non-Technical CEO run a Software Company? • Detailed Comparison of Software Deals Against More “Typical” ETA Targets • Key Insights from the SaaS CEO Survey • 5 Very Different Approaches to Acquiring a Software Company • Given the rapid emergence of AI: Is software “dead”? • Sum it up: What does it all mean? Zoom Link: redacted YouTube Livestream Link: redacted

Event Type:

meetup

Format:

Virtual

Start Time:

Duration:

1 hr

7 Likes

615 Views

reply by a searcher 2mos ago
from University of Pennsylvania in Los Angeles, CA, USA

Thanks, Steve. Looking forward to this topic. I've worked at large software companies in my career, and I've wondered how applicable that experience might be to smaller ETA software acquisitions.

reply by a professional 2mos ago
from Thunderbird School of Global Management in Miami, FL, USA

Thank you. My background has primarily been in software, so when I started my search, it seemed like the obvious target. I was quickly schooled on the higher multiples on Software companies which made them prohibitively expensive. Looking forward to your point of view.