The phrase, "Too much of a good thing..." comes to mind, but doesn't quite work here. "A Good Problem" seems like a better fit.... and I'm talking about the influx of business we've been getting over the past several months.
Traditionally, summer months - particularly late July and August - have been the slow times. In fact, I always kinda looked forward to July and August, not just for the agreeable weather, but also for the chance to take a breather from the pulsating software M&A business. Somthing about this summer... about this time - pseudo-post recession, in a world where tech companies still have LOTS of money to spend - has left us without a moment to come up for air.
Frankly, I'm not complaining... I'd rather be busy than bored. But, there was a headline that caught my attention, alluding to the title of "Alleycat Bankers". The 451 group is presupposing that Boutique M&A firms (like Corum) are scrounging for deals -- having to cutthroat one another and lunge at the opportunity to pitch their services to the next hot prospect.
The article further points out that Boutiques are playing less-and-less of a role as advisors. Re-worded, their services are in less demand than they were in the 2007 timeframe.
I dunno about all this. Maybe Corum is excluded from these data points based on our long history, focus, and market niche.... but I certainly have only witnessed a heavier deal flow in the past 12-18 months than previous market swells. That said... we aren't a startup Boutique, and we maintain a high market visibility for potential clients. Thats good, right?
I work in Software M&A. This is a personal / business blog.