MIDAXO RAISES MONEY FROM FII AND EOC; TECHSTRAT ACTS AS FINANCIAL ADVISOR TO MIDAXO
Midaxo’s journey has accelerated with fresh capital from Finnish Industry Investment Ltd and EOC Capital. Midaxo was the brainchild of Kaija Katariina Erkkila, who literally wrote the book on M&A, and serial entrepreneur Kalle Kilpi. Midaxo develops intuitive cloud software for managing M&A pipeline, due diligence and integration activities. The Midaxo platform is used by HP, Hitachi, Philips and other leading companies.
In 2016 Midaxo promoted McKinsey alumn Ari Salonen from President to CEO and went after the US market, starting with Boston.
I had dinner with Kaija Katariina at an island restaurant in the bay off Helsinki. We talked about the genesis of the company. Like many entrepreneurs, she saw opportunity where others saw obstacles. “Best practices” for M&A involved building a data room during the negotiations, then shutting it down at closing. All the work that was done during the transaction, which could potentially add tremendous value during integration and after, was locked in data silos. Potential synergies uncovered during diligence were buried in the data room.
Midaxo was born to solve these problems.
I am a huge fan of the Midaxo platform. It helps that I’m also a huge fan of Kanban, which is incorporated into the Midaxo workflow. Tasks are captured on cards and moved across to completion.
As the financial advisor to Midaxo we are thrilled to the company take in new capital and put it to work expanding the product functionality, and customer base.
TechStrat will join Midaxo on December 7 for a special webinar on “Bridging the Gap between Buyers and Sellers: Best Practices for Tech M&A“. We hope you will join us.