In one sector of communications equipment it had become clear to many vendors and investors that a slowdown was imminent and few if any of the firms would have the characteristics for an IPO and the private financing market was shutting on the sector.  As a result LAI’s partner was asked by the CEO of one of the firms to assist in a program to expand the then $10 Million a year company through complementary product line or company acquisition.  He researched the industry and contacted numerous companies in a variety of related areas.  In one effort, the Company reached a merger agreement with a private venture capital backed complementary firm of similar size in which management would be integrated and, subject to public market conditions, the combination would be running in excess of $30 Million at year-end and be ready for a public offering.  Following the agreement, management of the other company chose not to give up their then controlling interests in the merger.  This company remained independent and slowed to the point of being shutdown.  Our Company went on to complete the acquisition of a partial competitor, bringing the Company to $18 Million annual revenue. As this marketplace came under increasing pressure, it was clear a merger with a company strong in infrastructure and a broader line of communications was needed.  Among several opportunities, an agreement was reached and the investors made over 3X on their original investments held for 3 years and the CEO of our client and the previously acquired firm each went on to found and run much larger firms.