Technology Due Diligence
An independent read before you invest
We look under the hood of a company's technology before you buy it, back it or merge with it, and tell you plainly what you would be taking on.
Talk to us
Our view
A deal model assumes the technology will keep working and scale as planned. Sometimes it will not. We read the code, talk to the engineers and test the claims, so you know the cost of what you are buying before the price is agreed, not after.
Our reviewers build and run systems for a living. They know what a fragile estate looks like from the inside, and what it costs to fix.
We are independent of the seller and of any future delivery work. Our only job in a review is to give you an accurate picture.
By the numbers
What a careful read is worth
- 3 weeks
- for a typical review, timed to fit a deal's exclusivity period.
- 46
- investments reviewed for private equity, corporate buyers and boards since 2022.
- 1 in 3
- reviews led to a change in price, terms or the plan for the first hundred days.
KIASA due diligence engagements, 2022 to 2026.
What we do
Everything the deal model assumes
Architecture and code review
How the system is built, how healthy the code is and whether it can grow to the size the plan assumes.
Security and compliance
Known weaknesses, past incidents, data handling and the security debt a buyer would inherit.
Team and delivery
Who holds the knowledge, how work gets shipped and what would happen if two key people left.
Cost to run and scale
Hosting, licenses and support today, and what they become at two or five times the volume.
First hundred days plan
The fixes, hires and decisions to make first after closing, costed and in order.
Carve-out and integration
What it takes to separate a business from its parent's systems, or join it to yours, and how long.
Client work
Our work in action
Software and platforms
A software buyer found its target could not scale past 50 customers
The review reshaped the price and funded a platform rebuild in the first year.
Explore software
Telecommunications
Carving a regional operator out of its parent's billing in nine months
A separation plan that held to its date and its budget after the deal closed.
Explore telecommunications
Manufacturing
A family-owned manufacturer reviewed before a growth investment
Three urgent security fixes, made before closing, and a clear plan for the plant systems.
Explore manufacturing
Healthcare
Assessing a clinic group's patient systems before a merger
A realistic timeline for one patient record, drawn from our work with Tessera Health.
Explore healthcare
What we think
Thinking for investors
Research report
Security debt: the quiet risk on the balance sheet
Security debt is a liability that rarely appears in the data room. How to price it into a deal.
Research report
The maintenance dividend
How much of a target's technology spend is upkeep? The benchmark from 140 engineering leaders.
Research report
Platform pulse: what engineering leaders will fund in 2027
What 320 technology leaders plan to fund in 2027, and what it means for valuations.
Perspective
Why the second year of a cloud migration matters more than the first
Post-deal migrations stall in year two. What a hundred-day plan should prepare for.
“The report was twenty pages and every one of them was useful. It changed what we paid and what we did in the first hundred days.”
How we work with you
How a review runs
Scope
A call on day one to agree the questions that matter for this deal, and the access we need to answer them.
Read and interview
Code, architecture and costs reviewed; engineers and leaders interviewed. Usually the first two weeks.
Report
Findings ranked by their effect on value, each with a cost to fix and a confidence level.
Plan the first hundred days
If the deal proceeds, a costed plan for what to fix, hire and decide first.
Our leaders
Talk to the people who lead this work
Gabriel Lévesque
Practice Lead, Technology Due Diligence
Has led more than thirty reviews for investors and boards, after fifteen years building software platforms.
Leila Farahani
Principal, Security Review
Assesses the security debt a buyer would inherit, and what it would cost to pay down.
Kenji Watanabe
Principal Architect, Scale Reviews
Tests whether a platform can grow to the size the deal model assumes.
Considering an investment?
Call us early. We can usually start a review within a week of a signed confidentiality agreement.