BNR Podcast: The deal of a lifetime

Episode 01. Maarten van Montfoort l Agile software

From start-up dream to growth company

In 2004, Maarten and three former colleagues founded Agile Software. Four ambitious IT professionals with a mission: to help companies get more out of their Microsoft products. What started as a classic boys' adventure story, with lots of dreams and little certainty, quickly grew into a successful company with major clients such as the Ministry of Defence and the National Police.

The first few years were all about building, not selling. But as the company grew, the question arose: what is the next step? Maarten and his partner bought out the two other founders and professionalised the organisation. And then came the moment that every entrepreneur recognises: the first international party came knocking.

The emotional rollercoaster

The interest from a major foreign player was flattering, but also overwhelming. Maarten remembers that moment well: "We hadn't even finished our coffee when the German CEO said, 'I'm here to tell you that we're not going to do it.

The deal seemed to be off the table, but instead of giving up, Maarten switched gears. His team decided to bring in the three largest customers of that same party, and they succeeded. A year later, that same buyer called back. The CEO had been replaced, and negotiations could start again.

Staying in control at the table

The talks were intense. During a crucial meeting in an Amsterdam hotel, there were 42 items on the agenda, but Maarten only had one that mattered: the price. ‘They didn't want to talk about the price until after dinner. I thought: if I'm hungry or have a beer, I'm not going to negotiate anymore. So I got up and left.’

The next morning, the buyer called: they agreed.

‘He said: I thought you had balls to do that.’

The power of preparation

The buyer wanted the deal to be finalised by 28 February 2013 at the latest. Thanks to a tight process, a fully stocked data room, all documents in order, and dozens of advisors involved, the due diligence was completed in no time. From handshake to closing in three months. When Maarten flew to Munich in April 2013 to sign, the process was complete. ‘Your company is turned inside out for three months. But when I looked at my bank account the next morning and saw all those zeros, I knew it was worth it.’

Earn-out and life after

Part of the proceeds depended on performance after the acquisition, known as the earn-out. Within a year and a half, the targets had been achieved. ‘It was perhaps their best acquisition ever,’ says Maarten proudly. Yet after the deal, there was also a void. ‘The day after my last day at work, I was sitting on the beach, drinking cappuccino and eating apple pie. I thought: if I could do this for the rest of my life, I'd sign up in a heartbeat. But just one day later, I started to get bored.’ His advice to other entrepreneurs: ‘Don't just sell your business, but also think about what you want to do next. Otherwise, you'll fall into that black hole.’

Lessons for entrepreneurs

Maarten van Montfoort's story shows that the deal of a lifetime is rarely a straight line. It's about emotion, timing, guts, but above all, control.

Whether it's negotiations, due diligence or filling the data room, the entrepreneur who keeps control of the process makes the difference.

At Virtual Vaults, we see every day that the best-prepared entrepreneurs have the strongest position at the table. Transparency, structure and trust are the silent forces behind every successful deal.

Listen to the episode of ‘The Deal of Your Life’ with Maarten van Montfoort and hear how you can grow from a bar idea to an exit, with the necessary guts at the negotiating table.