Due Diligence - Finding a partner for a new product launch.
The Brief
Our client, an overseas niche software company, sought a partner to help launch their product in the UK and a number of potential partners had been short listed. We were asked to evaluate the main candidate for partnership, with respect to their reputation, capabilities, background, customer service and general attitude to the market.
The Result
On our recommendation, our client chose not to enter into partnership with the main candidate, almost certainly saving them from a failed venture. Following further investigation another partner was chosen and the product was successfully launched in the UK.
How we obtained the information
Following a thorough literature search we:
- Spoke to a number of people who we felt could know the required information
- Carried out a financial analysis on the company, which showed a deteriorating financial picture (supported by evidence on a failed investment and a debt judgement)
- Investigated the company directors: this turned up an undisclosed husband/wife link and revealed various company links not declared by the target company to our client. We also exposed misleading statements that the target company had used to woo our client about the target company's capabilities and expertise.
- Spoke to over 50 end users, in addition to talking to past customers who gave an overall unfavourable opinion of this company.
- Contacted the company first hand on several occasions and were made lots of promises - none of which materialised.
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