Fotoware Targets Exciting International Expansion with M&A Manager

16. July 2021 Alex Kronenberg

Fotoware is on an exciting growth journey, having seen 32 new employees join the team since July 2020 and acquisitions of Buildpix AB in Sweden, InfoMax ApS in Denmark, and Xenario UK Ltd.

This has seen the company strengthen its footprint in the Nordics and UK, and plans for international expansion are set to continue with the recent addition of David Horton to the leadership team, as Manager of Mergers and Acquisitions (M&A).

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We caught up with David to learn how M&A will help to rapidly scale up the organization, increase speed to market with new technology, improve delivery towards customers, and support the company's long-term growth plans of becoming the largest DAM vendor in Europe.

"Adding an M&A Manager to the leadership team says something about how serious we are about growth through M&A." says David. "We see potential for this to be a powerful growth engine that will enable us to accelerate our progress toward a number of strategic goals. Our focus is on providing the best possible experience to our customers, and M&A will help us achieve that."

Why is Fotoware starting to acquire other businesses?

Fotoware aims to become the largest DAM vendor in Europe, and acquisitions are a key component of our plan to get there. We are seeking acquisitions to strengthen our position in key markets and add new technology that will enhance our offering to customers.

Our own acquisition by Viking Venture last year has allowed us to really accelerate our growth. Having the backing of strong shareholders enables us to make big investments in our future. This is an exciting time for Fotoware and its current employees, but will also provide fantastic opportunities to those that join us through acquisition.

— "A handful of players, such as Fotoware, have gained outside capital to make bold investments, but many smaller and less well funded vendors will find it challenging and expensive to keep pace on their own."

What is Fotoware looking for in a potential merger or acquisition candidate?

When considering a potential acquisition, we first look at the “big picture”, i.e. what would this company add to Fotoware in terms of people and competence, market presence, product and technology, as well as experience serving customers in our key industry verticals.

We are looking for the best people and leading-edge technology to help us further improve delivery toward our current and future customers. To accomplish that in the best way, we are open to acquisitions of all sizes, from smaller technology focused start-ups to larger transformational transactions.

How will acquired companies benefit from becoming part of Fotoware?

An acquisition first and foremost is an opportunity that benefits both businesses. Together with Fotoware, a newly acquired company will gain resources to support existing customers and win new customers, as well as reach a broader global audience with their products. We are an international company with more than 4,000 customers and more than 300,000 users worldwide, which provides a unique opportunity to join a large and diverse organization. Employees will gain job security and advancement opportunities in fast growing company with a fantastic culture.

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How much potential for growth is there within the Digital Asset Management industry?

The exponential growth in content, as well as the increasing number of digital channels used to reach consumers, is driving explosive growth for DAM solutions, which is expected to continue long-term. At the same time, rapid advancements in technology and heightened demands from users for improved functionality and user experience are putting pressure on DAM vendors to invest heavily in product. A handful of players, such as Fotoware, have gained outside capital to make bold investments, but many smaller and less well funded vendors will find it challenging and expensive to keep pace on their own.

Why does being acquired by Fotoware represent a good opportunity?

Fotoware has an open and diverse culture: 42% female, 18 nationalities and 15% below the age 30. We have been named the best workplace in Norway with under 50 employees for the last two years in a row, as well as one of the best workplaces in Europe. We take a human approach to the M&A process, and put high focus on ensuring acquired companies, their people, and their customers are integrated into Fotoware in a good way.

We have big ambitions and the humble confidence to achieve them. We are innovative, responsible, passionate, and caring, and these values flow through everything we do. Big opportunities lie ahead in the DAM market, and we are fortunate to be ideally positioned to capitalize on them. Join us!