This piece from BusinessWeek confirms it today, that Flextronics has sold frog, along with their Indian software arm – currently India’s largest leveraged buyout – to a private venture equity firm called KKR.
Is this a trend in the design industry? And if so, what?
In the last 6 days, Laga bought One80 Design LLC and Product Development Technologies buys MQube Design.
Clear sign of consolidation, since the buyer and seller in these two
sales are more or less operating in the same industry, the design
industry, and both the buyers are based in Chicago. Interesting little
pattern emerging there, in it’s own right, if you look at it in the
context of Chicago’s place in the middle of America’s manufacturing
heartland and the corresponding changes globally with the shift of
manufacturing away from the United States.
In fact, here are snippets from Laga’s press release,
The One80 Design acquisition is part of Barrett’s commitment to aggressively grow laga organically, and he plans more strategic acquisitions in the future. "This industry is ripe to bring together complementary design talent that offers robust solutions to clients."
and from PDT‘s,
PDT is headed for more growth, scouting for design firms on
the West Coast. It was purchased last year by TZ Ltd., which is traded
on the Australian Stock Exchange. Having the capital from a public
company will give PDT an even bigger platform to grow, Schwartz said.
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