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As the pace continues to quicken for mergers/acquisitions and financing of digital infrastructure and services, stakeholders require timely, robust and in-depth appraisals of risks, their mitigants and investment upsides through detailed commercial and technical due diligence. We typically support more than 150 mid-cap and large-cap transactions globally per year – bringing detailed local market, sector and operational knowledge to support the appraisal of debt and equity transactions. We continue to work on the majority of large reference technology, media, and telecoms (TMT) transactions, providing buy- and sell-side support. We are proud to be the leading global provider of TMT commercial due diligence.

Our in-house resource pool brings in world-leading experts in TMT markets, competition and regulation, commercial and operational strategies, network technologies and operations and business support systems (OSS/BSS). We combine knowledge of the current dynamics with long-term, and very long-term, views on the evolution of markets, value chains and supporting infrastructure. We provide recommendations in a succinct manner that is appreciated by all our financial and strategic clients, backed by compelling evidence and sound argument for our opinions. We fully commit to the process timetable and work in close partnership with our clients as well as their legal and financial advisers, ensuring successful transactions. 

Commercial due diligence and market review

We are the leading global provider of TMT commercial due diligence, with an unparalleled track record of advising on financial and prominent TMT strategies in debt and equity financing, IPO and M&A across six continents. Our support is tailored to meet the requirements of these specific processes. Our expertise spans digital infrastructure (sub-sea and terrestrial fibre, mobile/towers and data centres), enterprise and cloud, satellite, fintech, e-commerce and telecoms real estate. We provide proven processes and methodologies for robust market appraisals, including competitive and regulatory issues; business plan reviews; and material business or commercial risk appraisals.

Technical due diligence

Our in-house technical practice advises on the consistency of business plans with network evolution and technology strategy. We provide careful opinions on the appropriateness of network strategy and deployment. We also validate (or build bottom-up, where necessary) capital expenditure requirements consistent with network scaling, traffic demands and technological evolution. We advise on operational support structures and the integrity of network-related cost projections. We provide comprehensive risk assessments for procurement/vendor selection, network architecture resilience, network performance, service level agreements and fault repair. Most often we are providing full scope commercial and technical due diligence services in tandem, ensuring integrity across both strategies, the business plan and associated cashflow projections.

Post-merger integration

We have proven capabilities in managing and advising on large post-merger integration programmes, ensuring the realisation of transaction value. We have particular expertise in the interface between commercial imperatives and network and IT stack integration; this includes supporting product portfolio rationalisation, the management of legacy with new, and subsequent platform migration to yield operational efficiency. Our deep expertise in the OSS/BSS domain includes programme review, management, optimisation and assurance – drawing on our skills in transformation derived from regular work on full-system transformation projects on behalf of the world’s largest telecoms operator groups.

Periodic business monitoring and loan technical advisory

Whether for shareholder requirements or debt draw-down certification processes, we are regularly appointed to provide market updates, appraise operational and technical advancement during extended network build-out/commercialisation processes, review budgets and provide formal periodic certifications. We have completed, and have ongoing, assignments in the fields of subsea and terrestrial cable, mobile infrastructure, satellite and defence infrastructure. Often following on from initial diligence processes, we use the same capabilities to identify and assess the potential impact of developing risks, and the robustness of mitigation plans.

Opportunity scouting and pre-deal support

We support strategic investors in their early-phase appraisals of inorganic assets, portfolio expansion and growth opportunities. We are experts at outside-in appraisal of the economics of operations and the associated construction of business plans, often developing these with progressive information flows as a potential deal develops. Our pre-deal support typically includes preliminary valuations supporting initial approaches, and the elucidation of key areas for further diligence.

Commercial due diligence support to a holding company as part of its USD300 million investment in data-centre operator ChinData Group in China

We performed commercial due diligence of the target, including a deep analysis of its anchor tenants...

Commercial due diligence support to a holding company as part of its USD300 million investment in data-centre operator ChinData Group in China

Assisted Vauban Infrastructure Partners and Axione with the creation of the largest independent investment platform for fibre-based assets in France

Analysys Mason was appointed as part of a multidisciplinary pool of advisers to conduct commercial d...

Assisted Vauban Infrastructure Partners and Axione with the creation of the largest independent investment platform for fibre-based assets in France