Portugal Ventures helped create AnubisNetworks, and in 2014 the company went on to be bought by BitSight. In this article, I will be sharing some of the main contributions made by Portugal Ventures and some of my own lessons learned during the process.
AnubisNetworks opened its doors in January 2006, with six co-founders. The initial investment made by Portugal Ventures was key to getting the project off the ground and to establish the company.
There were times when things didn’t go as well as we would have liked. It was at times like these that Portugal Ventures was always at our side helping us find solutions or alternative routes.
“At one point, Portugal Ventures took an important and, as it turned out, sound decision. It was this choice that opened the doors to our Exit”
Whenever we needed more resources for our internationalisation process, Portugal Ventures was there to back us up.
At one point, Portugal Ventures took an important and, as it turned out, sound decision. It was this choice that opened the doors to our Exit.
During final negotiations, there were several moments when not all parties were on the same page. When it came to the crunch, Portugal Ventures was always on the founders’ side.
Today, AnubisNetworks is BitSight’s European base, a company which, in the near future, will become the global benchmark for IT Security Ratings (like standard & poor’s or Moody’s). It currently employs three times the number of staff it did at the end of 2014 and will continue to grow and create employment in our country.
I’m now going to share some of the aspects we took into consideration in this process, and which you could find useful if your company is ever in the same situation:
· Do the culture and values of both companies clash?
· Can both cultures co-exist after the acquisition and possibly merge in the post-acquisition future?
· Can you see yourself working for the other company? Would you be happy?
· What is the reason for the acquisition?
· What synergies are going to come out of this acquisition?
· Try to get to know and spend time with key people, or with the people whom you are going to work with after the acquisition.
· Hire a company that specialises in mergers and acquisitions to advise you during the negotiations and help throughout the process; you won’t regret it.
In addition to the fantastic team I had at AnubisNetworks, during the journey I had another team in my corner – Portugal Ventures – who worked with and supported us to ensure that in the end we all got what we wanted.
Thank you Portugal Ventures!