Following the announcement today of our acquisition by Associated Northcliffe Digital (AND), the digital division of DMGT, I wanted to provide you with some key points and an insight into our thinking behind the deal.
Key Points
- Broadbean will continue to be managed by Kelly Robinson and Dan McGuire
- It is business as usual
- International expansion plans have been significantly accelerated
- We will retain our brand and technology
Let me open by saying that everyone at Broadbean is genuinely excited by this deal. We feel that this is the next logical step in a journey which started over six years ago. Both myself and my business partner, Broadbean founder, Kelly Robinson still have substantial personal and financial interests in Broadbean and will be staying with the business for the foreseeable future. As such the continued success of the business itself and the many great relationships we have fostered with our clients, job board partners and the wider industry are of paramount importance to us.
Over the years, we have received an increasing number of approaches for the business. All were rejected on the basis that they did not afford us anything other than some cash in the bank and a new owner. Kelly and I had always maintained that the only offer we would ever consider would come from an organisation that could accelerate our plans to create and establish the world’s first truly global advert distribution business.
It’s fair to say that this was by no means a quick decision. Kelly and I had no need to sell the business so AND had to demonstrate they were the right home for Broadbean. This, they did. Throughout our discussions with AND we have been genuinely impressed with the people, setup and future plans. Equally, we are very comfortable with the foundation now in place for Broadbean’s future, particularly as this deal gives our international ambitions an outstanding boost.
The final factor in this decision however was that both Kelly and I had to be convinced that any buyer would allow us to retain control of strategy and decision making, respect the company’s integrity and independence, be prepared to support our growth plans, ensure an exciting and secure future for our staff, and absolutely understand what made Broadbean the company it is today. Our conviction that AND meets all these criteria for Broadbean is absolute.
Clients will notice no change in their day to day dealings with Broadbean and will continue to receive the same dedicated commitment to quality service they have come to expect from us.
Job boards can continue to rely on Broadbean’s integrity and independence. All data and information will be treated in the same confidential manner it always has been. We recognise that the appropriate handling of such data is the basis of continued sound relationships with job board partners and can continue to guarantee that Broadbean will not share data with any other company.
This announcement marks the start of what looks to be the most exciting phase in Broadbean’s short life. We look forward to keeping you informed of our progress and would welcome your feedback or thoughts as we go.
If you have any further questions about this announcement or have some thoughts you’d like to share, please feel free to contact me directly.
Well done Dan, a great move.
Jamie
Posted by: Jamie Leonard | October 17, 2008 at 07:15 PM
Congrats Dan. I'm very interested to see your expansion efforts. There are areas around the globe that are saturated and others that are newly ripened.
Good luck
- Chad
Posted by: Chad Sowash | November 10, 2008 at 05:02 PM