Derek Liu, M&A Partner at Baker McKenzie
AI talent deals are no longer small acquihires built around a simple price per engineer. Some now carry billion-dollar price tags, forcing buyers to rethink deal structure, diligence, tax exposure, and retention.
Baker McKenzie's M&A Partner Derek Liu has personally signed over $110 billion in transactions from both sides of the table. That mismatch, old tools built for a different kind of deal, is what's forcing corp dev and legal teams to rework their playbook, and it's the throughline of this conversation.
What You'll Learn
If you're structuring retention for a talent-driven acquisition, DealPilot, powered by M&A Science, has the deal guidance layer to help you get the revesting schedule and non-solicit right before you sign.
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This episode of M&A Science is presented by DealRoom.
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[00:00] Introduction
[00:03:03] From New York to Silicon Valley
[00:11:58] Why Acquihire Prices Exploded
[00:15:19] Defining an Acquihire Deal
[00:25:20] Winding Down the Acquihire Business
[00:31:35] Acquihire Due Diligence on Talent
[00:34:10] Why Not Just Poach Talent
[00:38:34] RSUs, Revesting, and Rollover Equity
[00:46:37] Valuing the Biggest Acquihire Deals
[00:47:35] An Acquihire Deal Timeline
[00:56:22] The Craziest Deal in M&A