为什么澳大利亚软件并购看重客户留存？
澳大利亚SaaS、垂直软件和企业软件企业可为中国买方提供英语市场客户、产品能力和本地销售团队。但软件收入质量差异大，单看收入增长容易高估价值。
买方应优先拆分订阅收入、一次性实施收入、专业服务收入和低毛利转售收入。
估值重点
估值应关注ARR、净收入留存、客户集中度、毛利率、产品可扩展性、研发效率、客户获取成本和续约周期。
尽职调查重点
尽调应覆盖客户合同、IP归属、代码质量、数据安全、隐私合规、云基础设施、产品路线图和核心员工留任。
Lyndon如何协助
Lyndon可协助中国买方、澳大利亚软件企业和顾问准备估值、资料室、买方问答（Q&A）和交易执行。
About the Author
Daniel Bae
Co-founder & CEO, Lyndon Advisory
Daniel is an investment banker with 15+ years of experience in M&A, having advised on deals worth over US$30 billion. His career spans Citi, Moelis, Nomura, and ANZ across London, Hong Kong, and Sydney. He holds a combined Commerce/Law degree from the University of New South Wales. Daniel founded Lyndon Advisory to solve the pain points in M&A, enabling bankers to focus on what matters most — delivering trusted advice to clients.
About Lyndon Advisory
Lyndon Advisory is an M&A advisory firm built for Asia Pacific. We help business owners sell their companies and investors make strategic acquisitions with senior-led execution, disciplined process management, and AI-supported buyer intelligence.
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