But that’s what we did with SunTzu in The Netherlands and groupe Reflect in France ;-).

1. Thanks for the correction, I can’t keep up!
2. I think you did a terrific deal, TheReference is indeed still a strong brand in Flanders. But as you mentioned yourself, if Emakina is focusing to help their customers on a European level, I would have thought it would have been more interesting to invest in companies that are outside your home-country.

But I get the Dutch/French part of your decision. I also understand that you didn’t buy it to kill it, my remark was: if you buy it, they probably won’t be a competitor anymore in pitches and thus this will create opportunities for an other competitor that wouldn’t have been invited to the pitch if you were still 2 unbound companies. I guess you were competitors in the past.

Anyway, the title of this post is probably a little bit ‘strong’, but then again, shouldn’t titles be that way? The post was meant as a critical view upon the strategy of Emakina. I’d like to conclude that this probably was a good opportunity for you at a very good price (because of the brand, etc..).

I wish you all the best!

1) The Reference is “number 4″ in the list since we’re listed on Alternext (Design is Dead, SunTzu, groupe Reflect and now The Reference).

2) We did not buy The Reference to “kill” a competitor. Our goal is to reach a critical size in order to better serve our clients at a European level. Please also note that The Reference is a very strong brand in Flanders, while Emakina is bigger on the French-speaking side.

Olivier.