Corum Group Blog Episode 75: Inside the Deal with Richard Addotta

In this episode of the Tech M&A Podcast, Richard Addotta, co-founder and CEO of WRM, shares his journey from working in utilities to founding a software development company focused on storm response solutions. He discusses the motivations behind selling his company, the changes in his life post-sale, and offers valuable advice for aspiring entrepreneurs. Richard emphasizes the importance of timing, expert guidance, and the personal fulfillment he now experiences as he transitions into a new chapter of life, focusing on family and personal growth. TakeawaysWRM focuses on improving storm response through innovative software.The decision to sell was based on timing and business readiness.Life after the sale has significantly reduced stress for Richard.Having expert guidance was crucial during the sale process.Patience is essential when navigating the sale of a company.Richard is excited to spend more time with his family.He aims to be actively involved in his children's lives.The sale allowed Richard to achieve a better work-life balance.Richard's journey highlights the importance of recognizing personal and business milestones.Chapters 00:00Introduction to WRM and Richard's Journey03:02The Decision to Sell: Timing and Motivation05:48Life After the Sale: Personal and Professional Changes07:51Advice for Future Entrepreneurs