Bynder Announces Strategic Acquisition of Webdam for $49.1m

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Leading Digital Asset Management Companies Join Forces to Provide Brands with Best in Class Software BOSTON, Feb. 16, 2018 (GLOBE NEWSWIRE) --Bynder, a global leader in digital asset management (DAM), today announced that it has entered into a ...

Leading Digital Asset Management Companies Join Forces to Provide Brands with Best in Class Software

 

BOSTON, Feb. 16, 2018 (GLOBE NEWSWIRE) -- Bynder, a global leader in digital asset management (DAM), today announced that it has entered into a definitive agreement to acquire Shutterstock's digital asset management business, known as Webdam (NYSE:SSTK). The acquisition brings together the respective DAM category leaders from EMEA and North America to create a global organization offering marketing and creative teams with scalable, cloud-based solutions for managing, distributing and collaborating on their digital assets.

Marketers today are producing more digital content than ever before, and distributing it across  an increasingly complex web of platforms and channels. As a result, digital asset management has moved to the heart of marketing technology where it must scale to support activities across and beyond the enterprise.

The acquisition of Webdam highlights Bynder's commitment to bring best-in-class DAM to brand-driven businesses of all sizes, globally. Blending the industry knowledge, technological innovation, and geographic strengths of the two companies-including heavy investments in artificial intelligence and integrations-will allow Bynder to better address evolving customer needs.

"Businesses are racing to keep up with the digital economy, in which digital content has become the storefront for your brand. Marketers and creatives play a critical role in developing these digital experiences, so the necessity for DAM is only accelerating," said Chris Hall, founder and CEO of Bynder. "Bynder and Webdam are two of the top digital asset management platforms on the market. We're ready to join forces with a fellow leader in the space and develop an unparalleled DAM that businesses integrate at the core of their operations."

"There is a clear synergy in the culture and product vision between Bynder and Webdam. That's why we see this as a strategic move that will greatly benefit both our customers," said Bob Hickey, GM of Webdam. "We have grown rapidly in the past four years as our customers depend on high quality digital experiences to build their brands. We see this as a great opportunity for our customers' continued success and a natural partnership that will help us meet future industry demands."

Following closing of the acquisition, there will be no immediate impact for customers of either service, however; users can expect to see an improved, combined offering. This acquisition bolsters Bynder's U.S. presence, including the addition of an office in the San Francisco Bay Area.

This acquisition comes 1.5 years after Bynder's $22m Series A funding with New York City-based Insight Venture Partners.

About Bynder
Bynder is the fastest way to professionally manage digital files. Its award-winning digital asset management (DAM) platform offers marketers a smart way to find and share creative files such as graphics, videos and documents. More than 250,000 brand managers, marketers and creatives from 450+ organizations like PUMA, innocent drinks and KLM Royal Dutch Airlines use Bynder to organize company files; edit and approve projects in real time; auto-format and resize files; and make the right content available to others at the click of a button.

Founded in 2013 by CEO Chris Hall, Bynder is headquartered in Amsterdam with offices in Boston, London, Barcelona, Rotterdam and Dubai. For more information, visit www.bynder.com or follow Bynder on Twitter @Bynder.

About Webdam
Webdam, a Shutterstock company, is a leader in digital asset management, changing the way marketing and creative teams manage the world's brands. Founded in 2005, Webdam's cloud-based platform powers the visual content that drives impactful brand experiences, and allows brand-building activities to scale across the enterprise and consumer touchpoints.

For more information, please visit Webdam.com, and follow Webdam on LinkedIn, Twitter or Facebook.

Media Contact: 
Josh Tammaro
(617) 945-1915
bynder@launchsquad.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bynder via Globenewswire

Source(s) : Bynder

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