Despite a very rainy morning in DC, Microsoft hosted over 200 government contractors at the Fairview Park Mariott on December 11th, 2008. The day opened with an industry panel which focused on Exit Strategies in Turbulent Times. This session was sponsored by Pleasant Valley Business Solutions and and moderated by Nick Wakeman, Washington Technology Editor-in-chief. Panelists include: Robert D. Kipps, Managing Director, KippsDeSanto & Co. William J. Mutryn, Partner and Co-Leader M&A Practice, Holland & Knight LLP, Bernard A. Mustafa, CEO, PVBS, Dave Young, Co-founder, Oberon, a Stanley Company and Jodi Johnson, Co-founder, Oberon, a Stanley Company. Much of the discussion was centered on the successful sale of Oberon and Associates to Stanley and Associates and what government contractors can expect now from the market if they are on a buy or sell situation. Dave Young and Jodi Johnson shared very candidly that this was well thought out and shared key learnings from the process. A couple interesting takeaways:
- Oberon's Dave Young commented that they management team did not take the highest bid but rather the offer from the company that best married up to their culture.
- Oberon and Associates took care of employment agreements well in advance of the sale. This was a great way to recognize employees and keep business continuity post sales.
- Jodi Johnson commented that they built the company with best of breed foundational tools. Dynamics NAV was a great choice because the smart college hires they brought on all grew up on Microsoft. It was easy for them to navigate and management information was also readily accessible to all by role. This was critically important as there were over 700 due diligence questions many of them requiring financial data that were more easily obtained through Dynamics NAV for Government Contractors.
There will be several postings over the course of this week to provide access to the presentations delivered at the Summit.