Malaga-based Freepik, a company acquired by the EQT Mid Market Europe fund in May of 2020 has done a bit of shopping of its own in the acquisitions of Denmark-founded Iconfinder and Colombia-based Original Mockups. The financial details of the deals remain undisclosed.
According to Freepik, one of the primary drivers of this M&A activity is to expand the team into new international markets as well as strengthen its position in existing markets. Via direct competitor Iconfinder, Freepik plants a flag in the Danish market, and with Original Mockups, the company adds over 100 new employees and gains a foothold in the LATAM market.
On the acquisition, Iconfinder CEO and co-founder Martin LeBlanc commented, “Both companies share a similar vision of how we want the business to go – we survived and thrived through the tough times brought on by the pandemic and now we are confident about our new direction. Freepik Company assured me about our aligned vision and now felt like the right time to make this decision.”
This double acquisition arrives just months after the company’s first acquisition, Oxford-based stock videos and motion backgrounds house Videvo, as well as the appointment of former Twitter EMEA exec Carlos Cantú to the role of CMO.
“With the Iconfinder and Original Mockups acquisitions … We saw this as an opportunity to combine forces and invest in the experts who can help take Freepik Company to the next level of growth. Freepik Company already has a sizeable subscriber base, but localising content is always a wise move and part of our expansion plans,” commented Freepik’s chief strategy officer and former Deliveroo exec Carlos Marin. “Both CEOs have a strong vision of where they want to go, and Freepik’s resources will contribute to scaling it all. It’s an exciting time and we’re very much looking forward to working together.”