The Tech M&A Podcast

Q3 Tech M&A Report: Taking a look at the deal activity, emerging trends, and valuations across 29 subsectors in the third quarter of 2026.

AI can generate a polished valuation in seconds, but incomplete public M&A data, outdated deal information, and missing buyer context can make that estimate dangerously misleading. In this special report, we'll go over why fewer than 15% of technology transactions disclose deal value, how an AI-generated valuation can anchor expectations and cost you millions, and why a competitive global M&A process can create value no spreadsheet, no algorithm and no AI can predict. Learn where AI helps in tech M&A, where it falls short, and why your company is ultimately worth what a qualified buyer is willing to pay. Key Takeaway • AI valuations rely on a small, self-selected portion of disclosed technology transactions, leaving much of the relevant market evidence unseen. • A valuation model is a starting point—not the final measure of what a qualified buyer may pay. • The best buyer may be outside a seller's obvious shortlist and may come from another geography, a private equity platform, or a company entering the market. • Relationships, deal structure, succession goals, tax considerations, and negotiation nuance cannot be captured fully by an automated model. • AI is most effective as a competitive advantage within a professional M&A process—not as a shortcut that replaces one.   Chapters 00:00 Can AI Value Your Company? 00:54 Why AI Valuation Multiples Can Mislead 01:15 Real World Example 01:39 Where the Extra Value Comes From 02:26 Finding the Right Buyers 03:27 The Risk of Valuation Anchoring 03:47 Five More Ways AI Can Fail in M&A 04:35 Use AI as an Advantage, Not a Shortcut

AI-enabled software companies are commanding premium valuations—but buyers are raising the diligence bar even faster. In this special report, we examine the three questions shaping today's AI M&A deals. Discover why durable AI businesses with proprietary data, deep workflow integration, specialized talent, and defensible intellectual property can earn higher revenue multiples—while thin wrappers around third-party models are being priced closer to ordinary SaaS. Whether you are an AI founder, board member, investor, or strategic acquirer, learn what buyers value, what risks they test, and why the current AI M&A premium may have an expiration date.   Key Takeaways • AI-enabled software can command premium valuations, but only when buyers see durable, defensible capabilities. • The AI premium is often a speed premium: acquirers pay to close capability gaps that could take years to build internally. • Evidence-based headcount conversion plans are more credible than indiscriminate cuts designed to make a company appear lean. • Buyers want to know whether AI savings improved margins or were recycled into compute and infrastructure costs. • The market window for AI exits is open, but founders and boards should not assume today's premium will last indefinitely.   Chapters   00:00 Intro 00:57 AI Software Multiples vs. Traditional SaaS 01:16 Why Strategic Buyers Are Outbidding Private Equity 02:27 Durable AI Companies vs. Thin AI Wrappers 02:53 The Risk Behind the AI Investment Boom 03:49 Question 1: Do You Own or Rent Your AI? 04:33 Question 2: What Did AI Do to Headcount? 05:11 Question 3: Where Did the Savings Go? 06:08 What Founders, Boards, and Acquirers Should Do 06:40 Why AI Does Not Replace an M&A Advisor

What does it really take to sell a technology company? In this founder panel, entrepreneurs who have successfully navigated acquisitions share firsthand lessons on M&A strategy, choosing the right buyer, preparing for due diligence, timing an exit, and navigating life after the deal. The conversation covers the unique challenges of selling AI and technology companies, running a structured M&A process, evaluating strategic fit, preparing company records and KPIs, managing negotiations, and building the right advisory team. The founders also share candid lessons about the workload and pressure of an acquisition and what they would do differently if they went through the process again. Key Takeaways Prepare early: Start improving the metrics and areas buyers will scrutinize well before you're ready to sell. Run a structured process: A broader M&A process can uncover buyers and opportunities outside your existing network. Clearly communicate differentiation: Technology and AI companies need to make their competitive advantages understandable to both business and technical buyers. Look beyond valuation: Strategic fit, culture, customers, capabilities, and the post-acquisition vision all matter. Prepare for due diligence: Organize financial, legal, operational, and company records before a transaction begins. Build an experienced advisory team: M&A, legal, and accounting advisors can help founders navigate an unfamiliar and complex process. Be ready for the workload: Selling a company can become a second full-time job while you're still responsible for running the business. Keep founders aligned: Co-founders should continually revisit their goals and priorities as negotiations evolve. Think about the exit years in advance: Strategic preparation can create more options and a stronger position when the time comes to sell. Plan for what comes next: An acquisition can lead to new roles, new resources, time away, or another startup. Chapters 00:00 Welcome & Founder Introductions 00:45 Why Founders Decide to Sell 03:58 From AI Entrepreneur to Acquisition 06:04 Selling an AI Company 07:50 Finding the Right Buyer 08:53 Choosing an M&A Advisor 11:23 Inside a 33-Day Acquisition 13:18 Why a Structured M&A Process Matters 15:06 The Hardest Parts of Selling a Company 16:44 Preparing for Due Diligence 18:27 Addressing Problems Before the Sale 19:32 Managing Co-Founder Alignment 20:36 Advice for Founders Considering an Exit 23:01 When to Talk to an M&A Advisor 23:55 The KPIs Buyers Examine 24:38 Building Your M&A Advisory Team 26:17 What Founders Would Do Differently 27:59 Preparing Years Before an Exit 28:59 Life After Selling Your Company 33:01 Starting Another Company After an Exit 33:58 Final Advice for Entrepreneurs

In this episode of the Tech M&A Podcast, we sit down with Vincent Harris, CEO and co-founder of RealEstateAPI, a property data infrastructure company whose APIs give software developers clean, structured data on more than 157 million US properties. Vince and his co-founder had been in business together for roughly a decade before this venture, through companies that grew and then plateaued or ran into regulatory limits. RealEstateAPI was the one they believed was sellable and they took it to market through Corum, closing a successful exit about ninety days before this conversation, after a deliberate pause and return along the way. Vince reflects on how a cold outreach from Corum deal maker Richard Holcomb and a series of educational events first introduced him to the firm, why the decision to sell came down to de-risking his family, and the surprises that followed — chief among them the cost of legal counsel and an unexpected F reorganization that reshaped the structure of the deal. He speaks candidly about how personal and adversarial due diligence can become, why he chose a buyer offering less cash upfront but considerably more upside, and how a five-month hiatus spent tightening advertising efficiency and operating leverage brought him back to market with a stronger story. Finally, Vince discusses life after the exit and the advice he would give founders who think it's too early to start. Takeaways Sell the story you have, not the one you're waiting for: Vince thought the business was too early at two and a half years in, but Richard Holcomb pointed out that a fast-growing, profitable company with a clear growth story is sellable right now. De-risking the family drove the decision: Nearly all of Vince and his co-founder's net worth was tied up in the business, and after a decade of ventures that grew and then plateaued, the timing felt right to take chips off the table. Legal costs are the surprise nobody budgets for: The fees came in well above every early estimate he received, including from banker friends, and he wishes he had researched firms and ranges more thoroughly upfront. Deal structure can matter more than cash at close: Vince turned down a higher upfront offer for a structure with more upside, backing his own belief in the business. Due diligence gets personal: The rigor was expected; the adversarial edge was not. Corum's counsel to not take it personally kept sensitive items from derailing the deal. A hiatus is a strategy, not a retreat: Offers in the spring came in below target, so Vince paused for five to six months, leaned into a high-return advertising engine and other operating leverage, and returned in August with more EBITDA and a better set of buyers. Let your people in: Vince calls selling a company the most intensely personal thing a founder will do, and advises leaning on a partner and a wider circle through a process that is slower and more frustrating than expected. Timestamps 00:00 – Introduction: Vincent Harris and RealEstateAPI 00:58 – What RealEstateAPI does: property data as Lego blocks for developers 01:42 – Discovering Corum through cold outreach and educational events 02:13 – Motivation for the process: de-risking the family 03:12 – Surprises: the cost of legal counsel and an F reorganization 04:52 – How personal and contentious due diligence became 06:08 – A bulge-bracket-grade process in the lower middle market 07:15 – What he wishes he'd known about legal costs 08:05 – Choosing the eventual acquirer 09:00 – Advice for CEOs selling their company 10:30 – Life after the sale 11:32 – Going on hiatus and returning to market 12:34 – What he focused on during the hiatus 13:11 – A stronger, more credible story on return 13:47 – Final thoughts: let your partner into the journey