How a Canadian company became the world’s best acquirer of tech firms
Meet Constellation Software, tech’s Berkshire Hathaway
For older startups these are tough times. The weak recent stockmarket debuts of Arm, a British chipmaker, Instacart, a grocery-delivery group, and Klaviyo, a software firm, have dampened enthusiasm for initial public offerings. Venture capital (VC) has dried up. Data from PitchBook, a research firm, show that late-stage startups need almost three times as much money as is available to them. Many are putting themselves up for sale. Acquisitions of private firms valued at $100m or more are at their highest since September 2022.
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This article appeared in the Business section of the print edition under the headline “Tech’s baby Berkshire”
Business December 2nd 2023
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- How a Canadian company became the world’s best acquirer of tech firms
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From the December 2nd 2023 edition
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