Beating private equity on price without overpaying takes a deal model built on infrastructure you already own, not hope.
Jeremy Segal is EVP of Corporate Development at Progress (NASDAQ: PRGS). In six years, Progress went from under $400 million to nearly $1 billion in revenue through M&A. The model behind that run: buy assets trading at a discount to Progress's EBITDA multiple on a pro forma basis after synergies, execute the optimization within 12 months, and never retrade.