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Come Together: Secrets to a Successful Merger
– canadianbusiness.com
The journey from idea to IPO is a difficult one. In this five-part series, we look at how founders scaled their startups and reached new milestones.
In April 2020, Rob Douglas, the chairman and CEO of security-focused software firm BioConnect, came to a realization. The company had been growing steadily for a decade, but to truly scale, BioConnect had to start acquiring other companies. But which ones? Douglas was looking for a company with complementary technology that served users that BioConnect didn’t already reach. Plus, it needed to have a similar workplace culture.
That last point is especially important. Integrating a team with similar core values is easier, thereby ensuring the long-term success of the deal, says Daneal Charney, a people and culture expert and an executive in residence at MaRS, an innovation hub in Toronto.
“If there’s a cultural clash, it disrupts business, and you don’t get the value that you thought you would,” says Charney. “Having two teams with different rules about how you work is not going to lead to strong performance…
