Rob Durkin, Founder and CEO of FusePump, which was acquired by WPP this week, talked at length to eConsultancy about the business, the opportunities created by becoming part of WPP’s Wunderman, and the exit process itself.
He highlighted in particular the role of a good corporate finance adviser, even when, as in this case, the acquirer has made a direct approach:
How do you market yourself for an exit/acquisition versus marketing to your customers?
We used a corporate advisory firm, Livingstone, whose Media & Technology sector team have a good awareness of the market.
For us, it was more about considering other options and creating a competitive process because we’d already been approached by what we thought was the right buyer.
It’s important to make the decision based on what’s right strategically and not just on price alone. I’ve always viewed the business as ‘a product’ to an extent and we have worked hard to create a strong brand and a valuable customer base to enhance value.
As a B2B business, all your customer marketing activity also contributes to your brand position and exposure so in that sense, marketing for an exit happens somewhat organically.