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Aussie start-up acquires German entity
Canva Pty Ltd has acquired German-based stock photography company Pexels GmbH.
Grace Ormsby
Firm: Allens (Canva)
Value: Undisclosed
Area: M&A, Corporate
Key players: Senior associate Dominic Anderson led the transaction for Allens, with support from partner Mark Malinas and senior associate Jay Prasad.
Deal significance: According to Allens, Pexels is one of the world’s largest free stock content websites and receives more than 9 million visits a month.
The firm advised on all aspects of the transaction, including transaction documentation and structuring.
A statement noted that Allens worked alongside Linklaters “to manage and advise on the German law elements of the transaction”.
Mr Anderson called Canva “a true success story in the Australian scaleup world”.
“This transaction will enable Canva to move into an exciting new space with the addition of a subscription model for stock photography to its existing product portfolio,” he said.
