Welcome back to the EUCVC Summit Talks, where we bring you candid conversations with Europe’s leading founders, corporate leaders, and investors shaping the future of venture collaboration.
In this episode, Jeppe Høier sits down with Peter Aksel Villadsen (GN Hearing) and Helle Hee (PwC) to unpack the messy middle of post-merger integration: aligning strategy and governance, protecting talent and culture, and getting the operating model right so the deal value actually shows up. From pre-close planning to the first 100 days, they share what works, what fails, and how to keep the integration machine honest.
This is essential listening for any corporate venturer, founder, or investor navigating M&A.
🎧 Here’s what’s covered
00:30 – Introduction: Europe’s corporates are buying innovation, but many struggle to integrate it. Peter and Helle discuss how to create real value when startups become subsidiaries.
01:00 – Breakthrough Moments: Peter on the rare “miracle” when founders stay post-acquisition; Helle on why day-one readiness is critical to capturing momentum.
02:00 – Integration Planning: The importance of preparation before signing — equipping teams to welcome founders with curiosity and discover hidden value.
03:00 – Culture as an Organ Transplant: Peter’s powerful metaphor: startups as organs transplanted into corporates. How to suppress rejection and preserve agility.
04:00 – Building a Hybrid Playbook: Helle on balancing corporate processes with startup DNA — absorbing back office functions while protecting innovation culture.
05:00 – Keeping the Founder’s Voice: Peter’s dual perspective as both founder and corporate leader — why revisiting integration plans through the founder’s lens matters.
06:00 – Retaining Talent: How to reduce flight risk: tailored incentives, minority stakes, and structures that keep founders motivated post-deal.
07:00 – Case Study: Lively: GN’s acquisition of Lively to reach new customer segments — and how involving the startup team secured cultural and strategic value.
08:00 – Final Advice: Helle’s closing message: the most important thing is to be ready on day one.
You can listen to the full session from the EUCVC Summit 2025 on Apple Podcasts and Spotify.
✍️ Show Notes
Integration Reality
Deals are easy; integrations are hard. Most value is won or lost in the operating model, not the press release.
Design for decisions. Clear decision rights and escalation paths beat “alignment meetings” every time.
Pre-Close to Day 1
Value thesis → workstreams. Translate why we bought this company into 5–7 measurable workstreams with owners.
Day-1 readiness. Comms, access, payroll, customer-facing stability—no drama.
Culture & Talent
Retain the A-team. Lock incentives, define missions, remove blockers.
Communicate like crazy. Cadence reduces rumor; rumor kills velocity.
Operating Model & Governance
Fewer committees, clearer charters. Governance supports, it doesn’t suffocate.
Metrics that matter. Pick 6–8 cross-functional KPIs tied to the deal thesis
Tech, Data & Risk
Sequence the cutovers. Don’t touch revenue-critical systems first.
Create “do-not-break” zones in the first 90 days.
CVC’s Post-Deal Role
Be the sponsor and translator. Protect the original intent; align incentives; escalate fast.
Keep entrepreneurial energy alive. Autonomy where it counts; integration where it pays.
💡 One-liner takeaway: Successful integrations turn a deal thesis into decisions, incentives, and operating cadence—fast—so value shows up in the business, not just the board deck.
