Every figure in these profiles traces to a public filing, a court record, a company statement, or an on-record interview, and each page cites its sources. The profiles are maintained by the Windsor Drake research desk.

The Proprietary Discount

The Proprietary Discount is the gap between what a serial acquirer pays in an unbanked bilateral negotiation and what the same business clears in a competitive process. Windsor Drake publishes the measurement as The Windsor Drake Proprietary Discount Index.

Holding an Offer?

Independent sell-side M&A advisory for fintech founders. The firm represents founder-led companies in sell-side M&A from its Toronto headquarters.

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