# Glossary

- **Carve-out:** Separating a business unit from a group in order to sell it or run it independently.
- **TSA:** An agreement under which the seller keeps providing IT and other services to the divested business for a limited time after closing.
- **Day 1:** The first day after closing, when the divested business is legally independent and still has to operate without interruption.
- **PMI:** Bringing two companies together after an acquisition so that the planned synergies actually materialise.
- **Value Creation:** Measures an investor uses to raise the value of a portfolio company between acquisition and exit.
- **IT Due Diligence:** The review of a target's systems, software, infrastructure, organisation and IT cost before a transaction.
- **Vibe Coding:** Software development where AI agents write most of the code and humans steer requirements, architecture and quality.
- **KI-Agenten-Team:** A group of specialised AI agents, for example for backend, frontend, database, security and testing, led by a human.
- **Virtuelles Entwicklungsteam:** VEGVÍSIR's development method: 13 specialised AI agents under a lead architect, with a fixed quality process, adapted to each client.
- **Pentest-Readiness:** Preparing an application for an external penetration test so the test finds real gaps instead of routine findings.