Bynder’s acquistion of Webdam creates a global DAM powerhouse
The digital asset management company added Shutterstock's DAM business for $49.1 million.
Last week, Bynder, one of the biggest digital asset management (DAM) businesses in the world, announced that it had acquired Shutterstock’s DAM, Webdam, for $49.1 million.
From the press release:
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.
The move combines two well-known DAMs. When I reached out to Chris Hall, CEO of Bynder, he told me, “Bynder started at a Dutch kitchen table in 2013, and has since expanded globally. In joining forces with Webdam, we are able to grow our network even further, especially in the US where we now have a coast-to-coast presence.”
Hall said the need for DAM services is projected “to grow from $2.44 billion in 2017 to $5.66 billion by 2022. It’s the perfect time for Bynder and Webdam to come together to create the industry’s leading DAM platform, allowing marketers to attack the digital economy head on.”