Training the trainer
Drones have arrived on Wall Street, reports cnbc.com. Major investment banks are deploying the craft to offer important clients “a bird’s-eye view” of companies they’re interested in merging with or acquiring (M&A)…
Goldman Sachs, one of the world’s top M&A advisors, is one such company employing drones. Stephan Feldgoise, the firm’s global co-head of mergers and acquisitions, said, “We have been selling asset-based businesses all over the world using drones for site visits and fly-overs. It gives buyers the confidence they need because when you are purchasing a business, you want to see, touch and feel what you’re buying. ” He added, “Drones are likely here to stay. We believe it will change the M&A landscape forever.”
The personal on-site walk-through is over. COVID-19 put an end to that. Looks like a positive change. More than 95% of the several hundred deals Goldman closed since the start of the pandemic utilized drones for an on-site tour.