How I achieved fast team cohesion, multiplied product integrations and realised the synergies within 8 months.
// Employee turnover under 9%
// Financial and operational synergies achieved within 8 months
// All go-to-market strategies deployed
// Significant team restructures including role redundancies
Background
MRI Software's acquisition of Proptech Group (PTG) for $93.4 million was a strategic move to bolster its market presence. PTG possessed nine distinct proptech products, each managed as individual entities with separate teams and systems. This acquisition brought 110 employees scattered across Australia, New Zealand, and the UK into the MRI fold. The goal was to bridge gaps in MRI's product offerings and solidify its market position.
The Challenge
Unifying these diverse teams and products would present challenges, necessitating a comprehensive post-acquisition strategy. I was tasked with driving alignment among leadership, integrating teams and products, and optimising backend operations. Meeting synergy and growth targets involved team restructuring, devising go-to-market strategies, and evaluating systems and processes
<span data-buffer="">Key Initiatives & Outcomes<span data-metadata="">
Building an integration team and achieving leadership alignment: I commenced by assessing the existing leadership capabilities within both MRI Software and PTG. The analysis revealed potential challenges in terms of leadership compatibility. To address this, open and candid discussions were facilitated, resulting in the alignment of leadership vision and values. Mentorship and support were provided to bridge any capability gaps. This collaborative approach not only streamlined leadership but also fostered unity among leaders.
Project planning and execution: The project plan was thoroughly reviewed and refined, emphasising identifying key milestones, resource allocation, and establishing a realistic integration timeline.
Significant savings: .With a significant savings target in mind, a comprehensive analysis was undertaken to identify potential synergies between MRI Software and PTG. These synergies encompass shared resources, overlapping functions, and complementary product offerings. A clear roadmap was developed and executed efficiently, ensuring the integration met expectations.
Faster team cohesiveness: Developed working groups and merged teams with MRI and PTG employees to enable better solutions and faster team cohesiveness. This resulted in very low employee turnover and increased client deliverables and satisfaction.
Multiple go-to-market strategies executed to drive revenue growth: Successfully facilitated working groups to develop and drive the launch of 9 products under the MRI software banner. This included rebranding, repricing and bundling, customer focus groups, product integration & enhancements and process flows.
Summary
This was a complex integration due to the previous acquisition path of PTG. It was the equivalent of merging nine companies simultaneously with each team and product needing a slightly customised approach from the overarching playbook. MRI Software's acquisition of PTG not only fortified its position in the market but also underscored the significance of effective leadership, strategic planning, change management, and synergy implementation. If you are about to embark on an acquisition, reach out for a confidential discussion.
