They Got Acquired - This firm's looking to buy companies

April 7, 2023
​Read on web​

When Terry Dunlap recounts his career to this point, he hits the big events, starting in 1986 when he was arrested for hacking computers.

He was 17.

From 2002 to 2007, he worked at the National Security Agency, where he was paid to hack terrorists and foreign governments.

In 2007, he launched his own hacking company, and 10 years later, spun out ReFirm Labs, which identified security vulnerabilities in devices like smartphones.

In 2021, he sold that SaaS company for 8 figures to Microsoft.

ReFirm Labs was a cybersecurity company that identified security vulnerabilities in IoT (Internet of Things) devices, which transmit data over the internet or other cloud networks.

How did a tech giant notice this budding startup?

Microsoft noticed ReFirm Labs when the company was a finalist for an innovation contest.

After the founders’ presentation, Microsoft's director of business development approached them, Dunlap said, about acquiring the company to enhance Microsoft’s security capabilities.

The team wasn’t looking to sell, but it was becoming increasingly difficult to raise additional rounds of VC funding. (They'd raised $3.7 million already.)

Today's story explains what happened next:

​He was arrested for hacking at 17. Years later, he turned that skill into an 8-figure sale to Microsoft​

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A better way to M&A

Fellow founders and business owners,

Have you or any of your friends tried to sell a business with an investment bank and failed?

Even worse, did you lose a $25K-$50K retainer and six to nine months of your time?

Did you know that investment banks fail to sell businesses more than 70% of the time?

We created Exitwise to tip the scales in the favor of our fellow founders when selling a business, and we haven't failed yet.
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Finally, there is a far better way to create the exit you deserve.

💥 This firm's looking to buy: B2B SaaS

We're trying something new: showcasing companies that are looking to buy businesses. If you enjoy this section, hit reply and let us know.

Company: Big Band Software

Who they are: New holding company recently launched by a couple of the guys who previously ran SureSwift Capital. Learn more here.

Looking to buy: B2B SaaS

Ideal size: $1M - $10M+ ARR, $400K - $2.5M+ EBITDA

What catches their eye: 80%+ recurring revenue, 80%+ gross retention, founders who want to exit completely

If they look like a good-fit buyer for your business, get in touch with them, and please tell them you came via They Got Acquired. Some firms offer us a referral fee for sending you, and that helps us continue to serve founders.

See you next time,

Lexi Grant
Founder & CEO
​They Got Acquired​
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🙌 How we can help

Here's what we offer for founders looking to sell in the next year:

- Help choosing an advisor or broker you can trust

- M&A coaching if you have a potential buyer or want to approach buyers on your own

- A sounding board (free call) if you're not sure where to start

- Reports full of case studies and data about other founders who sold

- Posts covering the basics of how to sell your business​