The deal "highlights the strength of Australian creative tech companies", co-lead partner says
King & Wood Mallesons (KWM) has advised digital creative company Envato on its sale to Shutterstock for US$245m.
According to the firm, the deal reflects the current demand for “unique high quality technology businesses” in M&A.
“This is a major private M&A transaction and highlights the strength of Australian creative tech companies. It shows that amid major consolidation and change in the technology industry driven by AI, there will continue to be strong demand for companies that have built strong returns and customer bases – in this case by helping people create, build and share their ideas”, KWM co-lead partner Anthony Boogert said.
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Boogert led the firm’s multidisciplinary team alongside tax partner Kai-Chen Lamb. They received support from senior associates Johnson Pang (M&A), James Gould (tax), Victoria Lanyon (tax), as well as solicitors Iris Lo, Hae Soo Park and Sophie Broadley (M&A).
Partner Lisa Huett and special counsel Jessica Waters (competition) also shared regulatory advice.
KWM collaborated with Goodwin, Envato's US and UK counsel, on this transaction.