Case Studies

Verdane acquired a majority stake in HappyOrNot, the Finnish customer experience company, moving from minority investor to controlling owner by buying out Northzone, AirTree Ventures, management, and employee shareholders. FE International advised the company and separately advised the selling shareholders. This case study breaks down how a minority to majority buyout works, why an existing investor was the right buyer, what two billion point-of-service feedback responses are worth as a defensible data asset in 2026, how a four-party process reached one clean signing, why cap table simplification is itself a value event, and what founders with multiple investors should take from it.

RegTech M&A is one of the most durable themes in software dealmaking, as Regnology's 2025 acquisition of Heywood Business Analysts shows. This case study breaks down why the deal made sense, what made a niche South African compliance-software vendor acquisition-ready, the market forces driving demand (RegTech growth, Africa's fintech surge, tighter regulation), and what founders of compliance and vertical software businesses can take from it when planning an exit.

Oscar Hamilton, a 24-person podcast production agency with Fortune 500 clients and 45% year-over-year growth, was acquired by strategic buyer BCM Digital LLC in just six weeks. This case study covers how the deal moved so fast, what made the business attractive (team depth, client quality, clean financials), and why podcast production is catching strategic buyer attention as the global podcast services market grows toward $17.59 billion by 2030. Includes lessons for founders building toward a service-business exit.

How a bootstrapped AMS founder in Michigan successfully exited after 25 years, with FE International running a competitive sale process and closing a strategic acquisition with Valsoft's Lighthouse Software Group.

How a bootstrapped HR tech SaaS founder in Latin America successfully exited after seven years, with FE International running a competitive sale process and closing a strategic acquisition with Noosa Labs.

“My key priority was securing a buyer capable of both shaping a long-term strategic vision for DropFunnels and seamlessly transitioning ownership. The team at FE International had already identified the perfect buyer within their extensive network, ensuring a perfect match for the company’s future growth. ”