Digital Nigel
Forum Pro
The two majority shareholders rescued the then struggling company in 2001, paying less than £1m for it. They turned it round very successfully, and in recent years have taken monthly dividends of more than they originally paid for the company.Then whoever owned the company was looking for a huge amount of cash that would allow them to retire rich and live the good life.Exactly the opposite: Serif was embarrassingly profitable (profits were 53% of gross revenue) and growing well. It had very healthy amounts of cash in the bank.The were possibly going broke and needed a cash bailout.Curious as to what are the advantages to doing this ?Ashley Hewson CEO of Serif announced today that Affinity is becoming part of the Canva family:
Serif wasn't for sale, and the Canva offer came out of the blue. But after 23 patient years, the majority owners were probably delighted to exit with a very handsome profit. I don't think they were still involved with running the company day-to-day, and immediately resigned their directorships on the day the deal closed. They are presumably out of the picture now.
There's certainly some good signs:
- There's no overlap between the companies, so no products from either company need to be 'rationalised' or force-fitted together.
- Nobody is being laid off, so cost-saving isn't the objective.
- This isn't a company rescue: both companies were doing very well, so there's no pressing need to change things.
- Canva has a huge customer base, so there may be good cross-selling opportunities for the Affinity products.
- Ease-of-use isn't Affinity's greatest strength. Canva may be able to help the Affinity team to simplify the complex UI, hopefully without losing functionality.
- Affinity has been very slow to include any form of AI, either local or cloud-based. Canva should be able to help there.