Allens has advised long-standing client Canva Pty Ltd (Canva) on its acquisition of leading stock photography company, Pexels GmbH (Pexels).
Based in Germany, Pexels is one of the world’s largest free stock content websites, receiving more than 9 million visits per month.
Allens advised on all aspects of the transaction, including transaction documentation and structuring, and worked alongside its global alliance partner, Linklaters, to manage and advise on the German law elements of the transaction.
The acquisition of Pexels, and Canva’s separate acquisition of Pixabay GmbH, follow the company’s 2018 purchase of interactive software company, Zeetings, which Allens also advised on.
Dominic Anderson, Senior Associate and specialist in technology M&A, led the transaction with support from Corporate Partner, Mark Malinas and Tax Senior Associate, Jay Prasad.
‘Canva is a true success story in the Australian scaleup world and 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,’ said Dominic.
Canva is a client of Allens’ Accelerate practice, which was the first dedicated startups and scaleups practice from a major law firm in Australia. This latest transaction builds on Allens’ extensive portfolio of corporate work for innovative companies, including advising Lifi Labs, Inc on its sale to Buddy Platform Limited.