How global deal trends are reshaping SME exit strategies in Australia
The recent Netflix acquisition of Warner Bros Discovery for US$72 billion is more than a headline. It signals a shift in how boards and buyers value intangible assets such as intellectual property, data rights and scalable infrastructure. While this deal plays out on a global stage, the implications for Australian SMEs are real. Buyers are increasingly prioritising certainty and strategic fit over headline price, and that changes how owners should prepare for a sale.
Locally, we are seeing similar dynamics. NEXTDC’s proposed A$7 billion AI campus, Brookfield’s move on National Storage REIT and Sembcorp’s push into energy transition assets all point to a market where infrastructure and intangible value intersect. For SME owners, this means exit planning needs to go beyond financial metrics and include a clear strategy for intellectual property, data and operational scalability.
Why this matters now
Global transactions are setting new benchmarks for valuing IP-rich businesses. Netflix’s win over Paramount was not about offering the highest price; it was about deliverability. Paramount’s all-cash bid failed because financing risk was too high. Netflix secured the deal with a US$59 billion bridge facility, a multi-billion-dollar break fee and sign-ready documentation. This is a critical insight for SME owners: preparation and structure can outweigh price.
Australian deal activity is accelerating in sectors where intangible assets drive premium pricing. Healthscope’s hospital sales, Affinity’s radiology roll-up and Quadrant PE’s early IPO meetings for Amart Furniture all reflect a market hungry for strategic assets. Add regulatory changes such as Canberra’s proposed news levy and EU’s enforcement under the Digital Services Act, and the complexity of valuations is increasing.
What this means for SME owners
The lesson is clear: buyers are looking for certainty and strategic fit. Deliverability matters. In our advisory work, we see similar patterns. Buyers who can demonstrate certainty through bridge facilities, break fees and clean documentation often win even at lower valuations. For SME owners, this means exit readiness is not optional. It is a strategic imperative.
Intangible assets are becoming tangible. Catalogue IP, proprietary algorithms and data rights are now core to enterprise value. For SMEs, this means documenting and protecting these assets early. Infrastructure is no longer just operational; it is strategic. NEXTDC’s Eastern Creek campus is not just about racks and power, it is about anchoring AI compute. Boards should consider how their physical and digital infrastructure supports future scalability.
Insightful analysis: the new value equation
The Netflix–WBD deal resets the comp set for content libraries. Expect ripple effects in entertainment, technology and even healthcare data assets. Buyers are increasingly pricing businesses based on their ability to scale and their control over unique assets. For Australian SMEs, this means traditional valuation models need to evolve. EBITDA multiples alone are not enough. Buyers want to see growth potential, defensibility and strategic alignment.
Consider the rise of data-driven businesses. A radiology group with proprietary imaging algorithms and a strong referral network will command a premium over a similar-sized operator without those assets. Similarly, a logistics company with integrated software and predictive analytics will attract more interest than one relying solely on physical assets. The message for SME owners is simple: invest in intangible assets and make them visible in your valuation narrative.
How MSA helps owners capture this value
At Morgan Shaw Advisory, we use our EBITDA+ SIX STEPS TO SUCCESS™ framework to bridge the gap between current and potential value. This proven process focuses on:
Mapping intangible assets into valuation models
Preparing comprehensive data rooms to accelerate due diligence
Stress-testing deal structures for deliverability
Aligning operational scalability with buyer expectations
Our approach is designed to make businesses “Game Ready” for acquisition opportunities. We help owners identify growth levers, close operational gaps and present a compelling story to buyers. This is not about inflating numbers; it is about building real, defensible value.
Actionable takeaways for SME boards
Here are five practical questions to guide your next strategy session:
How are we valuing intellectual property and data assets today?
Do we have a clear plan for infrastructure scalability?
If approached by a buyer tomorrow, could we demonstrate readiness and certainty?
Are our operational processes aligned with premium buyer expectations?
What steps can we take now to close the gap between current and potential value?
If you want to understand how these trends impact your 2026 strategy, book a confidential consultation with Morgan Shaw Advisory. Download our guide on preparing for a premium exit or explore our insights on Setting the right price for your business sale and Streamline your due diligence.