Richard Smith’s Post

🌎 European Competition Authorities (ECA) Meeting| We took part in the ECA Meeting hosted by the Competition and Markets Authority in London on the 22nd and 23rd of April. 🔸 The ECA, founded in 2001, is an informal association that serves as a forum for discussion by the competition authorities of the European Economic Area. The participants addressed three main topics: ✔ dynamic mergers ✔ AI foundation models and AI as tool for enforcers ✔ an alternative competition tool: CMA experience using the market investigation tool and developments in other juridictions #CNMC #ECA #CompetitionPolicy

Why #indices can help investors track global fixed-income markets and assess potential shifts in the search for yield. Learn more in this interview with S&P DJI and SSGA. https://cfainst.is/3OkxXu0 #ARXCFAInstitute

An ecosystem is useless without markets. Early in the defense innovation movement as Defense Innovation Unit (DIU) and AFWERX and others were just getting started, we talked a lot about the ecosystem. We inherently understood the need to recruit like-minded folks to work together. This was our "virtuous insurgency" within the United States Department of Defense. But an ecosystem can only take you so far. The sign of a mature, impactful ecosystem is its ability to create, shape, and grow markets. By "markets" I mean the literal definition of a market: a place where economic transactions take place. Buyer and sellers. Money changing hands in one direction while products and service go in the other direction. 💸 Looking back on the last decade, we have made some progress. But there is lot more we need to do. The defense innovation ecosystem needs to hold itself accountable to have an impact on markets. Otherwise we all are sizzle and no steak. 🥩 How will we know the ecosystem is working? It makes new markets. It changes existing markets. It even (gasp!) shuts down old markets. ☠ Look for market making at places such as the Disruptive Capabilities Office under Michael Stewart and the Office of Strategic Capital under Jason Rathje. #defenseinnovation #dualuse #government #defense #acquisitions #technology #ecosystems #markets #vcs

Many of you have asked whether and how the Ukrainian competition agency continues to operate during the ongoing full-scale war. We're here to affirm that the Antimonopoly Committee of Ukraine (the AMC) not only remains active but is also notably productive under such perilous conditions.   Remarkably, it processed over 630 merger submissions in the past year, demonstrating unwavering resilience amidst daily threats.   Given the frequent inquiries and evident interest in the Ukrainian merger control regime, we're excited to announce our Ukrainian Merger Control Blog. Through a series of substantive posts, we aim to shed light on frequently asked questions, navigate the complexities of multi-jurisdictional analysis, and offer valuable insights into this dynamic field.   What topics or questions do you hope we cover? Please share your thoughts with us as we continue to develop this informative series.   Stay tuned for engaging insights and interesting reads!!! Today you may learn few interesting facts about the AMC itself 💡 💡 💡   Follow our page, subscribe for updates, and share this journey with others who might benefit from these insights 😉   Kudos to our brilliant team Vladimir Sayenko, Maksym Nazarenko, Julia Kuyda, Igor Pomaz, Snizhanna Sheshliuk, Олександр Нагорний, Mykhailo Sus, Oleksii Ogorodniichuk, Anna Lysiuchenko and Bohdan Malyk

Regulatory oversight of Defense sector M&A: tailwinds or headwinds? Hard to say in light of a new GAO report, which charges DoD to increase its resources to exert proper oversight over Defense sector M&A. The key point, in my view, is that DoD's scrutiny of M&A is largely focused on antitrust matters, i.e., impacts to competition, and not enough focus on other risks and - importantly - benefits associated with M&A, such as impacts to innovation and national security. Whether this call to expand the oversight aperture portends well for M&A in the sector is hard to say. I welcome others' thoughts! https://lnkd.in/euAZ7gP4

Check out the latest in news recap w/Pete Modigliani https://lnkd.in/eU9ZS-TF Many stories coming out NDIA's ETI Conference where senior leaders shared their thinking on the defense tech and acquisition space. Replicator gets top billing from the DEPSECDEF. Streamlined acquisition pathways (MTA and Software Pathway) and contracting approaches (OTs and CSOs) are called out as helping accelerate tech adoption. Lots of thinking on how to shift the acquisition culture and build better partnerships. Anduril announces major industrial project (The Arsenal) to build 5M sq/ft of new production capacity. Lots of work ahead to get where we need to be. #acquisition #culture #innovation #industry #manufacturing

A government services deal, which is adjacent enough to the aerospace and defense sector. In May, Richard Tekneci, Bhavna Kaul and Sam Weisberg first reported that Sagewind Capital-backed Axient was exploring a sale. https://lnkd.in/escMHeaf https://lnkd.in/eNCBuddC   This week, it was announced that Brightstar Capital Partners-backed Astrion agreed to buy Axient for an undisclosed amount. #mergermarket #ionanalytics #mergersandacquisitions #privateequity #governmentservices #aerospaceanddefense

Today, the CDAO, in partnership with the Office of the Under Secretary of Defense for Research and Engineering and the Defense Innovation Unit (DIU), conducted the first Global Information Dominance Experiments (GIDE) Industry Insights Forum at the Hyatt Regency in Reston, VA. The 1-day Forum featured collaborative opportunities for private industry to address the DoD’s AI needs, while amplifying the significance of the CDAO’s recent GIDE iterations. Presentations included a rousing keynote from CDAO Radha Plumb; informative talks on GIDE, OUSD(R&E) Joint Fires Network, DIU, and CDAO Acquisitions and OpenDAGIR; and thought-provoking panel discussions. Learn more about today’s exciting line-up and the CDAO’s plan to host similar events in the future: https://buff.ly/4cICiRU

Did you know DARPA was the first DOD agency to use OTs (Other Transactions) to speed up acquisition of emerging technologies for #nationalsecurity? Now we’re working to make the OT process clearer for organizations doing business with DARPA, including through OT workshops. But it’s just one example of working toward #acquisition innovation – for example, our Seedling Day in March resulted in three same-day contract awards for fast-pitch proposals, including to a small business that’s now a first-time DARPA performer. Learn more: https://lnkd.in/e-FgQE3v

Short and impactful assessment of where we need to go. Acquisition reform, I believe, should go to the top of this list!