FotoWare Acquired By Viking Ventures
Norwegian DAM software vendor, Fotoware, have announced today that they have been acquired by Viking Ventures, a Nordic-focussed tech investment firm. The details are sketchy currently and there is no online press release link which I am able to provide, but this is from the blurb their PR people provided:
“FotoWare, a global pioneer and innovator in Digital Asset Management (“DAM”), has been acquired by Viking Venture, the leading software investor in the Nordics. For FotoWare, this is a great opportunity to take the next step in their journey towards greater market share, a more innovative product, and improved customer experience. “Since its launch in 1997, it is amazing to see how the company has evolved to become a market leader within Digital Asset Management. This is the right time to take FotoWare to the next level and we are confident that Viking Venture is the right partner to act as a catalyst for this growth,” says Ole Christian Frenning, Founder and Chairman of FotoWare.”
There has been a lot of interest by VCs in the DAM market since the start of the year (and particularly since the the Covid-19 pandemic). I am seeing quite a number of requests for market analysis and research services from private equity firms. Simultaneously, I have been in-contact with a number of growth-oriented DAM vendors who are keen to acquire the customers of legacy firms who haven’t done much with their platforms for the last few years.
I plan to write a longer article on this subject for our premium subscribers. It is clear a number of fortunes will be made (and lost) this year; exactly by whom and why is an intriguing topic to speculate on.
Fotoware have since posted a blog article about their acquisition.Share this Article: