A startup is going through a round of funding and an investor wants to invest, but they don't have a mobile strategy. Their business is just web based. He will invest if they have a mobile presence. The CEO contacted me because my app is in the similar market, but I'm only on mobile. We just talked once on the phone, but he said he's not looking to buy my app outright. Instead looking for a merger, partnership, or acquisition. This is all new to me. I want to be sure I'm prepared if talks continue, which they probably will. I am open to the idea, but only if it's the right fit. Any advice or help would be appreciated.
Can't help you with the "fit" question. That is really something you are going to have to decide. The best thing you can do is spend time with the founder and folks you would be working with. See if your visions align and if you actually want to work together.
From a logistics standpoint, deals that stage are usually pretty simple. If you are a solo and have no assets (other than the code/app) the deal could happen pretty quickly/easily. Likely you'll just be negotiating on salary + equity. You will do a simple asset purchase agreement to get all of your code/assets into the new company.
If you don't have any investors or employees this should be pretty simple.
The one thing I'd be careful of is this contingent investment. It sounds a little precarious to me. If the investor is concerned about a mobile strategy, and their solution is just to "hire" or "acquire" you, that will likely be a red flag. I'd make sure the deal makes sense for you with or without this investor. The last thing you'd want to do is make a deal and then have that new company go under because they can't raise cash.