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Leading UK Private Equity: modularised fast track CDD

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Targeted commercial due diligence, wider, deeper, faster and less intrusive

The challenge

We worked with PUMA Private Equity investment teams to scope commercial due diligence for their investment in MUSO using our modularised CDD approach. This helped quickly identify and subsequently deliver the right diagnostics and analysis to support PUMA PE investment hypothesis.

What we delivered

  • Highly collaborative approach supported by methods and tools specifically designed to accelerate CDD projects and prepare the ground for scale-up and growth.

  • Verification of TAM, SAM, SOM and bottom up qualification and quantification of market opportunity in USA and EMEA markets for all products and services.

  • On-line customer interviews, customer rating of offer, product, service and experience, customer revenue and cost analysis.

  • Competitor profiling, functional review and competitor positioning.

  • Assessment of existing quantification of customer value, value propositions, differential advantage and pricing strategy review.

  • Commercial strategy and brand building review.

  • Offer portfolio review and product-market prioritisation

  • Pipeline opportunities, deal flow, pipeline efficiency, win-loss analysis and revenue generation, forecasting, distribution and management review by product and contact type.

  • Commercial operations and operating model assessment.

Key take-aways

  • Quickly agree scope and analysis to inform investment decisions using modularised scoping and pricing approach

  • Systematic and collaborate approach using methods and tools specifically designed to change the way CDD gets done, the results it creates and prepare the ground for rapid scale-up and growth.

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It was a pleasure to work with Adaptomy on this investment, they brought a systematic and highly effective form of Commercial Due Diligence to the process. Their collaborative approach has provided a solid platform for accelerated planning and post-investment scale-up.

Harriet Rosethorn, Investment Manager PUMA Private Equity

Details and press release

PUMA Private Equity in MUSO

Adaptomy pre-investment CDD adviser to Puma Private Equity on the investment into MUSO.

“It was a pleasure to work with Adaptomy on this investment, Will and Geraint brought a systematic and highly effective form of Commercial Due Diligence to the process. Their collaborative approach has provided a solid platform for accelerated planning and post-investment scale-up.”

 

Harriet Rosethorn, Investment Manager, PUMA Private Equity

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“Using adaptomy’s unique, modularised, and systematic DNA methodology for Commercial Due Diligence we were able to provide PUMA with a consolidated view of MUSO significant commercial capability and untapped opportunity. It was a pleasure working with such talented teams in MUSO and PUMA.

Thanks to Harriet Rosethorn and Kelvin Reader at PUMA for a clear and precise brief and to the MUSO team of Andy Chatterley, James Mason, Peter Clothier and Jodi O’Toole for enthusiastically supporting us in developing a clear, consolidated commercial perspective.”

William Wright, CEO, Adaptomy

MUSO’s technology measures hundreds of billions of visits to piracy websites each year and provides unrivalled consumption and audience data that allows rightsholders to better protect their content from piracy but also increase their revenues.

Adaptomy provided Commercial Due Diligence to support PUMA Private Equity £3.3m investment in MUSO.

Deal overview

 

Adaptomy was delighted to support the Puma Private Equity £3.3m investment into MUSO, a data company that provides a complete and trusted view of global piracy and unlicensed media consumption. The investment will support the establishment of MUSO’s marketing function and build out its sales teams in both the United Kingdom and United States.

MUSO has seen a 25% increase in general digital piracy year-on-year, when comparing H1 of 2021 to H1 of 2022. Its unique and transformative data is fast becoming a must have data-currency for entertainment companies and is already used by the likes of Amazon Studios, National Association of Theatre Owners (NATO), NOS, Lionsgate, MNRK (formally eOne Music), Sony Interactive Entertainment Europe, and more.

Teams

MUSO measures unlicenced demand for digital content, tracking billions of visits, views and downloads every day. MUSO empowers customers with data that drives ROI and value, whether protecting IP or executing game-changing content strategies.

PUMA Private Equity has a long track record of supporting companies with untapped growth potential, investing into businesses and adding value by helping management achieve transformational change.

“Our customers are using our data to acquire and commission content, unlock new marketing opportunities, leverage value in licensing negotiations, maximise and optimise windowing strategies. MUSO is a game-changer to the entertainment industries approach to piracy. We are turning the tables on two decades of losses and creating value-driven opportunities from this challenging inevitability of digital consumption.

“This investment from PUMA Private Equity comes at an incredibly transformative time for MUSO. Piracy continues to be a major problem for rightsholders, and we are committed to implementing new strategies that allow us to not only protect content but to provide increased commercial value by measuring understanding and activating our audience data. We will be deploying this investment into expanding our sales and marketing teams and activities to highlight MUSO’s valuable products and data to the global entertainment industries.”

Andy Chatterley, CEO, MUSO