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Adam Crockett
Adam Crockett

Posted on

😬 Company takeovers, what now?

So I'm not going into specifics but I do want to ask, did your company or the company your working for get purchased by an investment company and did you have a long forefilling career after that event, did anything change?

I'm trying to workout if I should be planning for Armageddon or an amazing time to come. I love where I work and I don't want it to change

Let me know your experiences in the comments!

Top comments (10)

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theaccordance profile image
Joe Mainwaring • Edited on

Hi Adam,

I've been involved with 3 different acquisitions - including 1 where I was the one being acquired. My take from having this experience a few times:

  • Expect change. Everything is on the table when a company is acquired.
  • Expect turnover. Some team members being acquired will use the moment for self reflection and will decide it's time to get off the ride.
  • Expect some roles to be eliminated due to redundancy. From my experience, this has exclusively been for supporting roles - like our finance team or Office Managers.
  • Expect Leadership Turnover on both sides. Three reasons I've seen for leadership turnover:
    • An established leader is using the opportunity for a smooth exit from the business, enabling an acquired leader to take the role.
    • An acquired leader may not thrive in the new environment and may decide to go to an organization better fitting their style.
    • A company's board may decide to fill a leadership role with an external candidate because the acquisition changed strategic objectives.
  • Integrating the companies takes time. In my experience, it takes about 1 year from the announcement of an acquisition for the company to be fully integrated as a single entity.
  • Be prepared for rebranding. Depending on the strength of the brand, the company's marketing team may carpe diem and use the moment to evaluate a branding change. I have experience this twice, most recently switching from our established brand (KazooHR) to the acquired company's brand (WorkTango).
  • It's an opportunity to adopt new technology. Prior to my startup being acquired in 2018, the tech stacks for the two companies was JavaScript (mine) and Ruby (theirs). I pitched and succeeded in establishing TypeScript as the development language going forward for new projects.
  • Expect team and company cultures to evolve.
  • Sometimes, acquiring another company comes with unexpected perks, like getting extra holidays because the new team members are international
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adam_cyclones profile image
Adam Crockett

My goodness I'm looking at WorkTango I didn't expect such informed answers so quickly, thank you! by the way I like the pitch WorkTango is offering on the website it's very strong, I have also had good dealings with some of your customers (Allianz), small big world 🌎.

I'm going to reflect on what you have said and see if I can prepare some contingency plansπŸ€”, it's been a while since I was a developer but as a consultant an a proprietary skillset, I think I should switch back to what I love.

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adam_cyclones profile image
Adam Crockett

Oh wow, small world, just got told that we are using it. Im feeling much better about the company now by the way, I look forward to using WorkTango it looks great!

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theaccordance profile image
Joe Mainwaring • Edited on

Ah! ForgeRock! I helped answer some due-diligence questions so your company could make the decision to buy. Enjoy the Rewards and Recognition product, it can be a useful tool with building a positive work culture 😎

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droidmakk profile image
Afroze Kabeer Khan. M

This has been very well put...

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adriens profile image
adriens

Very well detailed and explained.

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andypiper profile image
Andy Piper

Until now, I've always been on the acquirer side of this and as a result I've not thought so deeply about it. At the moment I find myself on the other side of the proverbial fence and - like you - I love where I work and I don't want it to change! Very curious about the answers shared in this thread. Thanks for starting the conversations!

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moopet profile image
Ben Sinclair • Edited on

I've worked for a few companies that have been taken over by big "investment" type corporations. Some have lasted well, some have been unceremoniously dumped after a few token months of pretending to support them and some have muddled along until they managed to find better funding or support themselves.

In the process, people sometimes get shuffled around in the organisation and there are redundancies which are usually what I would call a "terrible management decision and no wonder we're going bust".

Generally, since I've been working on core clients' projects, not much changes for me as a developer except the branding on the pointless free pencils and stuff they dish out.

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eljayadobe profile image
Eljay-Adobe

Change is stressful. Take care of your well-being, and be mindful of how the stress is affecting you.

Being in an acquired company will have a period of turmoil and uncertainty.

Being in the acquiring company can also have a period of turmoil and uncertainty. Especially if the area you are in happens to be the area that the acquisition is strong in.

Support roles in an acquired company is often hit hard for letting people go.

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adam_cyclones profile image
Adam Crockett

So I'm nervous, should I be searching for a job or is it alright I really don't know, people say we should always keep our CVs RΓ©sumΓ© up to date I guess that's always true, and maybe just leave when I'm ready not because I smell danger

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