American investors often underestimate the need for a physical management presence in Italy. Successful integration requires local leaders who can liaise with suppliers, customers, and authorities. Attempting to manage an Italian acquisition remotely from the US or another European hub is a common point of failure.

After acquiring a European company, SPS Commerce found success by sending leaders from all departments (finance, sales, back-office) to visit in person. A single executive "fly-by" is insufficient; integrating the whole business builds trust and operational alignment.

Pushing a client to close a deal when they've communicated they are busy or on vacation can backfire. It signals a lack of respect for their time and can destroy the rapport needed for a long-term partnership, leading them to abandon the deal entirely.

When SPS Commerce acquired a Dutch company, they discovered their lawyers in the Netherlands could not advise on French labor laws for the target's Paris office. This highlights that "Europe is not one country" in M&A; acquirers need a separate bench of local experts for each jurisdiction.

Despite pre-deal cultural assessments, Cisco and Splunk clashed on decision-making speed post-close. Pre-existing relationships between executives led to an overestimation of cultural similarity, masking deep operational differences that only surfaced when teams had to work together on difficult decisions.

Most deal reviews are ineffective because they devolve into reps narrating uncontrollable events like buyer vacations or procurement delays. This "story time" avoids the core purpose: identifying concrete actions to de-risk a deal and move it forward.

To ensure cultural consistency during its European expansion, the firm implements a structured program, including mid-level staff rotations, US leadership actively supporting the new team, and mandatory in-person meetings every other month. This treats culture as a tangible asset that must be actively managed and transferred.

When managing multiple deals, treat the portfolio like a sales pipeline with different stages. This enables "bicycle management" of resources, moving senior leaders from late-stage integrations back to early-stage diligence, preventing burnout in non-dedicated teams.

A key part of buy-side M&A is conducting 'reverse diligence,' where the buyer transparently outlines post-close operational changes (e.g., new CRM, org charts). This forces difficult conversations early, testing the seller's cultural fit and willingness to integrate before the deal is finalized.