Mergers: Proven Leadership & Expertise
The visual media industry was rapidly expanding and changing due to the explosive growth of global stock photo sites. Our client, the first and still #1 global on-line digital media company, needed to adjust their business model to remain competitive and position themselves for continued growth.
Our client decided to move quickly and developed a business plan to rapidly expand and refresh their portfolio of digital assets sold through their traditional high-end business line and simultaneously move into the stock photo space. They developed an acquisition plan and purchased the third largest digital media company plus the fastest growing global stock photo site. These back to back purchases meant significant work to merge three global entities and ensure the smooth transition of customers, millions of digital assets and associated usage rights, and suppliers.
We worked with our client to scope the upcoming mergers and develop plans and budgets to complete the work. Our focus was the merger of all back end operational areas and the transfer of digital assets while our customer’s development teams rebranded and standardized the newly purchased websites. We then provided project leadership to execute the agreed to plans and manage project teams in Europe, Asia, Australia, and North America.
This merger project included the following major initiatives:
- Built and managed a team of 20+ people in multiple countries to plan and execute the merger.
- Worked with internal technology architects and engineers to develop and execute a method to transfer a massive number of digital assets from multiple global locations and migrate and set up the assets for sale in our client’s systems.
- Worked with legal staff to understand merger laws and regulations of seven countries and adjusted the plan to meet all legal requirements.
- Worked with finance, accounting, tax, and HR teams and outside experts to manage through the complexities of a global merger.
- Developed and managed the project plans and coordinated dependencies across teams.
- Delivered the agreed to project scope, on-time, and within budget.