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I was involved in the sale of a large private company back in the 90s. I was a minion within the leadership core of 5 or 6 executives. We were going from private to being purchased by a public company.
The smartest of the leadership guys stated, in one meeting, that if the sale goes through, all of us will be lined up by the flagpole and strung up within 3 months of the sale.
They were all gone within a couple of weeks. None of them made it a month! Stand by for heavy seas!
I was involved in the sale of a large private company back in the 90s. I was a minion within the leadership core of 5 or 6 executives. We were going from private to being purchased by a public company.
The smartest of the leadership guys stated, in one meeting, that if the sale goes through, all of us will be lined up by the flagpole and strung up within 3 months of the sale.
They were all gone within a couple of weeks. None of them made it a month! Stand by for heavy seas!
Unfortunately, senior management can be easily replaced, but hands on knowledge and skills related to the core business operations can't.
Just personally and anecdotally, I think it was never anything more than an exploratory convo/offer by Broadcom.
Whether Goodnight retired or died, there's a management structure in place - heir apparent leaving or not - to continue the company. He's a smart enough person to put systems in place.
Just personally and anecdotally, I think it was never anything more than an exploratory convo/offer by Broadcom.
Whether Goodnight retired or died, there's a management structure in place - heir apparent leaving or not - to continue the company. He's a smart enough person to put systems in place.
Broadcom and SAS were indeed in serious talks. Simultaneously, Broadcom was being investigated by the FTC. Goodnight was dragging his feet - most likely to see what effect the FTC investigation and possible sanctions would have. Broadcom leaked the story to see if he was serious in selling the company, and to force his hand a bit. Goodnight (and Saul) thought better of the deal at that point, and pulled out.
And BTW, Goodnight does have a daughter who is an executive in the company. She uses her married name, and moved back from California 5 or 6 years or so ago to be a major part of the company, when the other offspring expressed no interest.
Also, much executive management has been lost over the last 3 years. Heads of R&D, IT, Marketing, Product Management, Sales, Consulting, Hosting, and Partnering have all moved on to other companies or retirement.
Last edited by Thr3stripe; 07-16-2021 at 09:27 AM..
Broadcom and SAS were indeed in serious talks. Simultaneously, Broadcom was being investigated by the FTC. Goodnight was dragging his feet - most likely to see what effect the FTC investigation and possible sanctions would have. Broadcom leaked the story to see if he was serious in selling the company, and to force his hand a bit. Goodnight (and Saul) thought better of the deal at that point, and pulled out.
And BTW, Goodnight does have a daughter who is an executive in the company. She uses her married name, and moved back from California 5 or 6 years or so ago to be a major part of the company, when the other offspring expressed no interest.
Also, much executive management has been lost over the last 3 years. Heads of R&D, IT, Marketing, Product Management, Sales, Consulting, Hosting, and Partnering have all moved on to other companies or retirement.
I see this is definitely difficult for those in SAS. I heard that Hock focus on profit growth a lot, and there's a hard line, if your group can't raise profit by a certain percentage, the group is gone. This puts a lot of pressure on management and I heard even if there's opening managers don't want to hire because their cost will be up. However for those survived, the return is very good, I heard their pay is on par with google/fb. Overall I think the takeover, if happens, is positive to the RTP area, you may hear some layoffs, but Hock can drive the company to next level.
best case scenario this is SAS letting vested employees profit and cash out but lets face it SAS's competitive position and market share is pretty dire so it will be IPO and then some kind of M/A
Most companies eventually find their fate in M/A, private equity or LBO, or they just die (sometimes slowly, sometimes quickly and spectacularly).
Generally it is legacy companies like insurers which last 100 years or more.
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