King & Wood Mallesons’ is pleased to have acted for Australian digital creative company Envato on its sale to US-based global creative platform Shutterstock for US$245 million working closely with Goodwin, Envato’s US and UK counsel.
Envato has over 650 million subscribers and its digital creative product offerings include video, audio, graphics, fonts and templates.
Against a challenging period in the technology sector, the landmark sale highlights ongoing M&A demand for unique high quality technology businesses.
The multi-practice, cross-border KWM team was led by Partners Anthony Boogert (Mergers & Acquisitions) and Kai-Chen Lamb (Tax), supported by Senior Associates Johnson Pang (Mergers & Acquisitions), James Gould (Tax), Victoria Lanyon (Tax), and Solicitors Iris Lo (Mergers & Acquisitions), Hae Soo Park (Mergers & Acquisitions) and Sophie Broadley (Mergers & Acquisitions).
Commenting on the deal, Anthony Boogert said:
“We are thrilled to have assisted Envato to achieve this great outcome with Shutterstock.
“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.”
Partner Lisa Huett and Special Counsel Jessica Waters from KWM’s Competition team are providing regulatory advice on the deal.
KWM were proud to have played a role in this significant transaction and look forward to seeing the continued growth and success of both Envato and Shutterstock in the creative tech market.
