I've done it recently as an employee of an acquired company. In addition, acquirers can (and do!) interview the developers as well. We got questions that appr

I've done it recently as an employee of an acquired company. In addition, acquirers can (and do!) interview the developers as well. We got questions that approximated how one would take git and turn that into the running system. The acquirer also crawled through all our software license agreements; wee discovered we weren't licensed quite correctly for a commercial db, so had to rip it out in a real rush. For each customer agreement, it has to be either assignable, or you will have to go to that customer and get them to agree to make it assignable. Each customer that doesn't so agree, or each customer that is slow to respond, will have to be individually negotiated with the acquirer in the period before the deal closes. I'd imagine that one of the big risks acquirers of small companies care about is the company somehow fucked up and doesn't own, or there is a colorable claim they don't own, their source code. Having an overlap of git commits with your previous employer could cause you a lot of heartburn at minimum. And good luck getting a timely response from your previous employer that they don't own that code. Your previous employer, even if they have no intentions of being dicks, simply have no incentive to sign (and definitely no incentive to promptly sign) such an agreement.