Welcome to another episode of Hundred days and beyond, with Rupak Ghose. He is an enterprise software scale-up COO at Galytix, Building LEGO & Early Warning Systems. He is a thought leader in FinTech.

Rupak regularly appeared in leading publications & on awards for top trading and tech executive. Led industry consortium projects with senior management of banks. Generated 250% shareholder return (8x broader U.K. market) and exit valuation of $8bn for NEX/ICAP shareholders from 2012-2018. Worked directly with Board including founder CEO as head of corporate Strategy (also M&A and Investor Relations). Assisted integration of electronic assets into the largest exchange group in the world.

Background

Rupak was an equity research analyst for 13 years, looking at a lot of M&A from the perspective of shareholder value. Then he had his second job at a company called ICAP as a head of corporate strategy. After that, he led an industry consortium, working for some industry bodies. And now he is in scale-up land with 130 employees, four, five different locations globally selling enterprise software SAS to systemically important banks and insurance companies.

Integration of electronic assets

Rupak says that if you think about digital assets, you think about blockchain or crypto, whereas electronic is sort of web 1.0 web 2.0. He has worked in ICAP having a voice broker business that used a lot of technology platforms with some pure electronic platforms as well. They had a large technology budget for it. He thinks that the most valuable business is selling your electronic assets. You run electronic trading platforms. The difference between the two is, that you had people in sales, business development and finance. The brokerage business is more of a people’s business. But you don’t have the client-facing sales guy selling the technology platforms, optimization or post-trade tool like a SAS product.

M&A Integration strategy

Pre-deal or post-deal, everyone tries to find a way to work together to get joint highest possible value.

Rupak shared a few strategies for M&A integration:

- When you are acquiring an asset from a savvy seller, you want them on the board and have some incentive around it.

- The Incentive structure is really important. It’s about understanding the incentive motive's culture.

- With the constant shift in the market, you need to negotiate as hard as you can with M&A.

- You need to minimize your downside, and share as much of the upside so you need to give them an earn-out generously and the upfront as little as possible.

- You need to structure it in a non-binary way.

To know the whole inspirational journey of Rupak Ghose, tune into this episode.

Connect with Rupak Ghose

LinkedIn: https://www.linkedin.com/in/rupak-ghose-53084743

Website: https://www.galytix.com/perspectives/banks_must_act_on_their_early_warning_systems_or_risk_ROE_downturn

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