Smartsheet (NYSE: SMAR), the enterprise platform for dynamic work, today announced that it has agreed to acquire Brandfolder, the market momentum leader in digital asset management (DAM), as awarded in a 2020 G2 Report. Combining Brandfolder’s world-class DAM capabilities with Smartsheet’s leading collaborative work management platform will create a dynamic solution that manages workflows around content and collaboration, and enable organizations to break down silos, execute more effectively, and make better decisions faster.
Established in 2012 and headquartered in Denver, Colorado, Brandfolder provides a centralized platform to easily organize, discover, control, distribute, and measure all forms of digital content. In addition to supporting the logistics of content management, Brandfolder’s capabilities provide insights and analysis on the discoverability and reusability of assets throughout the entire content lifecycle for internal and external stakeholders. Built for companies of all sizes and industries, Brandfolder is used by some of the world’s most innovative and valuable brands including major retailers, technology companies, consumer packaged goods, professional sports teams, media companies, and creative agencies.
“Content is becoming an increasingly central component of any enterprise workflow across a broad range of departments, including marketing, legal, finance, and sales,” said Mark Mader, CEO of Smartsheet. “Brandfolder’s content capabilities coupled with Smartsheet’s powerful workflow and collaboration features will provide teams with a dynamic solution to securely manage, share, and publish their content, empowering cross team and organization collaboration.”
With Brandfolder, Smartsheet customers will be able to manage, track and discover all content within their workflows reducing the creation of repetitive assets to drive greater transparency and efficiency. Internal teams will be able to gain insights into their content and make strategic asset decisions with Brandfolder’s performance data features through brand-specific tags that track where the content is being used and how it’s performing. This tagging also enables external contributors to easily identify and utilize assets through Brandfolder’s identification and categorization search capabilities.
“Brandfolder has evolved how brands access, manage, and deploy their assets through an intuitive platform, but as work becomes heavily content centric, teams need a way to manage content alongside work,” said Luke Beatty, executive chairman and founder of Brandfolder. “Together, Smartsheet and Brandfolder will give talented teams a dynamic solution to create and discover great content from inception to execution that builds a brand and impacts the bottom line.”
“Brandfolder gives brands an intuitive platform to easily share, store, and track digital assets and gain insights on those assets to make strategic decisions,” said Steve Baker, President and CEO of Brandfolder. “The unbeatable combination of Brandfolder and Smartsheet will enable our customers to efficiently track and manage the entire content creation lifecycle from inception to deployment.”
Smartsheet will pay approximately $155 million for the acquisition, subject to certain customary adjustments and indemnification obligations, with a combination of cash and stock. Closing is expected to occur in September. Additional details regarding the anticipated financial impact of the acquisition will be provided in conjunction with our second quarter of fiscal year 2021 earnings announcement on September 2, 2020. Software Equity Group was Brandfolder’s exclusive financial advisor on the transaction.
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