In one of the most significant acquisitions within the Australian production, post-production, AV and broadcast industries of recent times, Videocraft has acquired Digistor and Adimex.
In announcing the acquisition, Videocraft director, James Taylor explained, “I have always had respect and admiration for the way Digistor goes about its business. That said, the reasons for Videocraft’s acquisition of Digistor and Adimex are numerous. Firstly, with the combined resources and great synergies our businesses enjoy and will continue to enjoy including significant opportunities for scale, there will be excellent added value for the clients of all companies. We will also offer greater solutions and better workflows as a much stronger and combined industry player with a solid point of difference, who is independent and Australian-owned. We will work together on every possible opportunity that enables us to complement each other’s offering in the production and media lifecycle where clearly Videocraft is strong in acquisition, we have a crossover in editing solutions and Digistor is strong in media management and distribution. From today, together, we present and offer solutions as a single supplier with formidable and incredibly experienced in-house engineering and support resources.”
Taylor stresses that it’s essentially business as usual for all businesses involved. Andrew Mooney will stay on as Digistor CEO and Digistor and Adimex will continue to operate as they are today, under Mooney’s day-to-day management.
Mooney added, “This is an exciting opportunity for Digistor staff and customers alike. The combined resources and close collaboration of both entities will deliver an enhanced solution offering and a higher level of service and support for our customers. Digistor will continue to operate as an independent business and I look forward to delivering increased value to our clients as a result of this acquisition. The only changes will be positive ones where we can all join forces to give customers better, more efficient solutions and ongoing support.”
In what’s clearly a tough industry, Taylor explained the wider rationale behind the acquisition saying, “Businesses need growth to survive and prosper and Videocraft has been continuously looking for any opportunities which will provide that growth. When we assessed our options, it was clear that by appreciating the quality of Digistor’s brand, its success and the expertise the team brings to market, that this acquisition creates a win-win for us, our customers and the market as a whole.”
The belief within the Videocraft and Digistor teams is that together they can become the undisputed market leader for high quality, intelligent solutions in their respective segments.
James Taylor concluded, “We are very excited to be starting this collaborative journey. I believe that together we are better placed to grow and we see a definite upside across the businesses including in distribution, training, and support. This includes bringing Digistor’s expertise and products to Videocraft’s customers and providing Digistor’s customers with sales and rental equipment and broadcast engineering expertise from Videocraft. There will be better access to products and pricing for both businesses and whilst we have some complementary overlap, the two businesses generally operate in different parts of industry. Moving forward we will undertake more projects concurrently with our larger team and as such, also see this acquisition creating opportunities for hiring more staff across the board.”
Videocraft’s acquisition of Digistor means the newly-combined powerhouse will also have better regional coverage and be able compete for bigger deals where more technical resources are required. The independent online presence of Videocraft, Digistor and Adimex will continue to play an important part of all three businesses moving forward.
(l-r) Videocraft director, James Taylor and Digistor’s CEO, Andrew Mooney