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Technology careers in Transaction Strategy and Execution

The EY-Parthenon Transaction Strategy and Execution (TSE) Technology teams provide technology-related advice to assist corporate and private equity clients in realising their value potential through M&A activity – integration or divestments – or through rapid transformations.

    Applications to our 2024 programmes are now closed

    Since joining the Deal Tech team, I've worked on several different pre-deal engagements supporting private equity clients, including technology diligence, synergies and value creation. Passionate about inclusivity, I joined the internal Diversity and Inclusion team. I am also part of the wider TSE Health Sciences and Wellness initiatives due to my interest in the sector.

    Layla

    In the Cyber team, I’ve helped clients understand the technical and security risks associated with their transactions and advised on the best ways to mitigate them. In the past 12 months, I’ve worked on a variety of deal types for clients based across Europe, and have gotten involved in helping our team develop new service offerings focused on the evolving tech space (including areas like generative AI and quantum computing).

    Fraser

    As part of the Software Strategy Group (SSG), I've worked on a range of vendor and buy-side diligence projects relating to software and software-enabled assets. I have also enjoyed being part of the Wellbeing and Women's Network initiatives across the wider team, which has provided plenty of career and personal development opportunities for me.

    Joy

    Technology

    TSE comprises three technology teams: Deal Tech, Cyber and the Software Strategy Group (SSG). While each team works with a slightly different focus (see below), all help advise corporate and private equity (PE) clients to evaluate key technology risk areas and identify value creation opportunities. We typically work during the pre-deal phase of M&A transactions or on rapid transformations between transactions.

    A typical project duration ranges from a few weeks to several months in length, offering a fast-paced and challenging environment to grow and an excellent way to explore a variety of service offerings and sectors in a short amount of time.

    What will you be doing?

    • You will rotate between the Deal Tech, Cyber and SSG teams in Year 1, before joining a team full-time in Year 2.
    • You will assess the target business’ technology landscape including technology strategy, software products and platforms, IT applications and infrastructure, technology costs and conduct cybersecurity risk assessments.
    • The focus of the assessment will vary depending on your team (see below), and will include identifying high risk areas/issues, unaddressed gaps, and areas for overall improvement.
    • You will gain exposure to the deal/investment “engine” including the diligence process, valuation process, stakeholders involved (e.g., PEs, M&A teams, investment banks, legal team), bidder meetings and the deal negotiation process.
    • You will assist with wider practice development tasks from recruitment through to learning and development as well as business development activities such as preparing pitches and presentations.  
    • You will have the opportunity to join regular socials and events across Deal Tech, Cyber and SSG as well as TSE and the wider firm.
    • You will work on a wide range of pre-deal service offerings, including:
      • Technology diligence – assessing a target (buy-side) or a client company’s (sell-side) technology landscape
      • Carve-out/separation diligence – identifying technology entanglements and estimating technology separation costs in a divestment
      • Value creation – identify and cost technology initiatives that will add value to a target business
      • Synergy analysis – identify and cost technology-related synergies (benefits) between two target businesses
    Deal Tech

    The Deal Tech team’s focus is broad and encompasses the whole technology landscape of a business.

    Key pillars include:

    • Tech strategy, projects and roadmap
    • Product platforms (if any)
    • Business applications
    • IT infrastructure (including hosting and networks)
    • IT organisation and processes
    • Technology costs

    Target companies can be from any sector.

    Cyber

    The Cyber team focuses on assessing the resiliency of a business to cyber and information security incidents.

    Key pillars include:

    • Governance and policy for security risk management
    • Risk management frameworks
    • Cyber defence and vulnerability management
    • Response and recovery
    • Data protection and privacy

    Target companies can be from any sector.

    Software Strategy Group (SSG)

    The SSG team focuses mainly on product technology in software-enabled businesses.

    Key pillars include:

    • Product/platform and roadmap
    • Core technology and architecture
    • R&D organisation and processes
    • Hosting infrastructure and practices

    Target companies are in the Software Economy, providing software as a core product.

     

    Programme length

    Graduate: 2 years
    Summer internship: 8 weeks

    Programme eligibility

    Graduate: the programme is aimed at final-year university Bachelor’s and Master’s students, pursuing a STEM or related (e.g., Economics) degree with a keen interest in technology.
    Summer internship: the programme is aimed at students in their penultimate year of study.

    How will it be structured?

    • Graduate

      Once you join this programme, you will join the Transaction Strategy and Execution (TSE) Technology Pre-Deal pod. This means you will work exclusively on engagements that focus on pre-deal M&A activity and rapid transformations, providing a unique opportunity to gain extensive deal experience from the outset which will help you decide early how you want to shape your career.
      In your first year, you will rotate between the Deal Tech, Cyber and Software Strategy Group (SSG) teams, giving you the chance to explore all of TSE’s technology service offerings. We will bring you up-to-speed through a dedicated analyst induction followed by specialist technology training as you rotate into each team. This will provide a great opportunity to develop the initial skill set required to be effective as an analyst.
      In your second year, you will choose (in consultation with your manager) to join one of Deal Tech, Cyber or SSG full-time for the remainder of the programme. By this point you will have a breadth of experience and be able to make an informed decision based on your skills and interests.
      From an early stage in each rotation, you will get to work on real client projects – where the proper learning begins! Analysts are expected to take on responsibility for individual pieces of work as soon as they feel comfortable, whether that be owning part of the deal analysis, participating in idea generation and brainstorming sessions or helping shape a section of the final report.
      Through a combination of formal and on-the-job training, you will build up a deep knowledge of technology as it relates to M&A transactions and the analytical techniques used to assess it. You will learn core skills (including PowerPoint, Excel and selected data handing/visualisation tools), soft skills (project management and developing relationships with stakeholders) as well as specific technical skills (financial modelling, outside-in product evalution, estimating technology one-off and standalone costs, cyber maturity assessments, etc.).
      As you progress through the programme, you will take on more responsibilities and obtain experience across different service offerings, broadening your transactions and technical knowledge, sector understanding and professional network.
      The programme empowers you to quickly take ownership of project and non-project elements which sets you up for a high growth career trajectory within the firm.

    • Summer internship

      This summer internship programme is aimed at penultimate-year university students interested in complete immersion in the world of EY-Parthenon over eight weeks of hands-on work experience. Interns will be exposed to real-life transactions, technology strategy discussions and take part in shaping the future of companies.

      Below are some key details you can expect as a TSE Technology summer intern:

      • You will rotate between all our technology teams: Deal Tech, Cyber and the Software Strategy Group (SSG);
      • You will join one of our client-centric high-performing project teams and learn how they perform technology / product / cyber due diligence and identify technology-related value-creation opportunities to benefit clients;
      • Over the course of your internship, you will be exposed to a diverse range of situations within the transaction lifecycle in varying sectors and technology-related service offerings;
      • You will learn from the best. Our UK&I TSE team is composed of over 250 exceptional and diverse people, including leaders across all sectors and service offerings;
      • You will receive on-the-job training and develop analytical and problem-solving skills; You will gain first-hand experience with our partners and the work they do – all summer interns will shadow a partner for a day;
      • You will be connected with the global EY-Parthenon professional network for exposure with international teams and clients.

      At the end of the eight-week programme, top-performing interns will be considered for graduate opportunities following the completion of their degrees.

    FAQs

    Please see TSE page for general FAQs relating to the application and interview process, eligibility and visa requirements and key process milestones.

    • What do you mean by “technology” in the context of an M&A transaction?

      Technology is now the backbone for all businesses irrespective of sector or service offering. When a company is bought or sold it is vital to understand its technology landscape, as it is this that is typically the biggest driver of cost and complexity in the transaction. A company’s technology landscape is everything within the organisation that is related to technology/IT. For example:

      • Technology estate comprising of revenue generating software platforms, enterprise applications and underlying infrastructure
      • Technology strategy including transformation and projects, governance and product roadmap
      • Technology operating model, from leadership, internal IT and R&D teams and product tech teams to outsourced contractors
      • Technology financials including operational and capital expenditures and technology investment plan
      • Cybersecurity tools, infrastructure and processes

    • What do you mean by “pre-deal”?

      The “pre-deal” phase of an M&A transaction is exactly what it says on the tin. It is the period that precedes the final closure of a business deal. During this time, we help our clients make critical decisions regarding whether to continue with the deal and how much to pay.

      Pre-deal engagements are typically high-intensity, short-duration diligence projects that will put your analytical and problem-solving skills to the test and allow you to get considerable deal experience under your belt in no time at all.

    • How does this programme differ from EY technology consulting or technology advisory graduate programmes?

      EY has multiple technology advisory teams. The TSE Technology team is part of EY-Parthenon and performs technology assessments relating to M&A transactions on both the buy and sell sides.

      Our team does not work in tech implementation, RFP processes and other long term technology advisory roles. However, we do liaise with other technology teams and EY divisions closely whenever we can leverage their expertise.

    Applications to our 2024 programmes are now closed

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