Typical early-stage companies are built around technology, and they often have not yet generated any revenues. To an acquirer, the value of these prerevenue companies often stems from a classic “build vs. buy” analysis, speakers said at the M&A Strategy Forum on April 30, hosted by the Transaction Advisors Institute. Other sessions discussed value in innovation-driven firms, COVID-19 impacts, regulatory environment, special purpose acquisition companies (SPACs), and more. Speakers included corporate development leaders, in-house M&A counsel, board members, and private equity investors. It was interesting to hear about M&A from their perspective and their views on valuations. You can read a recap of the conference in the upcoming June issue of Business Valuation Update. The next M&A Strategy Forum will be September 17 and will be online. Click here for the agenda.