Defense and National Security Buy-Side M&A Playbook

Fenwick’s buy-side M&A playbook, published by Silicon Valley Defense Group as part of its Industry Collaboration Toolkit, provides practical strategies for companies seeking to acquire a privately held target company or business in the national security and critical manufacturing sectors. It highlights many key considerations and unique regulatory and operational nuances relevant to these transactions, and offers strategies that may help mitigate or manage risks, such as:

• Statutory and regulatory compliance (e.g., Committee on Foreign Investment in the United States (CFIUS); Foreign Ownership, Control, or Influence (FOCI); export controls FAR/DFARS; cybersecurity)
• Protection of sensitive materials (e.g., classified, export-controlled, and Controlled Unclassified Information (CUI))
• Government contract requirements (e.g., compliance, performance obligations, transfers, and novation)
• Intellectual property developed under government funding, including any government-specific rights-limiting exclusivity or valuation
• Post-closing integration, focused on security, regulatory requirements, and operational continuity

Understanding these considerations and engaging legal counsel early in the transaction is often critical, particularly for preventing unnecessary delays and facilitating smoother transactions involving complex regulatory frameworks such as export controls, government contracts, and CFIUS/FOCI reviews.

Learn about Fenwick’s defense innovation & govtech capabilities, and access the full playbook: