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Case Study

Helping a Tech Startup Clear the Way for Exciting Possibilities

Minneapolis-based tech startup phData was founded by three leading cloud engineers in 2014. With more than 200 employees and a second location in India, phData solves real-world business data problems with the best cloud platforms and products. We became an advisory partner to phData in 2015.

 

Challenge

In 2021, phData’s leaders saw an opportunity to better meet their customers’ needs by acquiring a business intelligence and analytics company. They knew the acquisition made sense from a business, cultural, and strategic perspective. The only hitch was no one—at either company—had gone through an acquisition before.

What’s more, because the acquired company would merge into phData, its entity would cease to exist on the day of the transaction. This brought up a lengthy list of HR questions, and phData’s leaders were adamant about making the transition seamless and positive for all.

 

Solution

phData’s leaders quickly reached out to our tax and HR advisors for support. In addition to shedding light on everything from the deal structure to accounting integrations, our team guided the leaders through the complex HR compliance rules. Most important, we helped them feel confident their people would be well taken care of throughout the transition and beyond.

 

Results

The acquisition went to plan and phData leaders are excited about the possibilities ahead. Above all else, they are thrilled to have received overwhelmingly positive feedback on the transition from employees of the company they acquired.

“We knew the acquisition made sense, but we didn’t know the answers to the tax, financial, and HR questions it presented. Our expert team of advisors at Abdo guided us through these and gave us the confidence we needed to move ahead.”

—Mike Cleveland, phData COO

 

Statistics

100 percent of employees retained post-acquisition

2,011 phData’s ranking (2021) on the Inc. 5000 list of America’s Fastest-Growing Private Companies

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