Mandate
Our client, a Canadian Private Equity Fund, was participating in a competitive bidding process for a target company in the technology sector. The client sought intelligence related to a competitive foreign bidder in the auction to examine whether there were possible connections to a foreign state. Establishing such connections could complicate the target’s operations due to trade restrictions and sanction regimes in the United States.
Open-Source Intelligence: The client had already conducted extensive open-source analysis of the target and competitors in the auction, which did not reveal any red flags. ADIT performed enhanced open-source due diligence including through the use of our historic archive. Some preliminary risks were identified.
Human Intelligence: ADIT correspondents confirmed that some of the open-source issues were still relevant for the competitive bidder in this auction. Deeper due diligence raised additional concerns about possible trade restrictions for the competitive bidder.
Result
Our client, a Canadian Private Equity Fund, was participating in a competitive bidding process for a target company in the technology sector. The client sought intelligence related to a competitive foreign bidder in the auction to examine whether there were possible connections to a foreign state. Establishing such connections could complicate the target’s operations due to trade restrictions and sanction regimes in the United States.
