BDA, BrandVia Discontinue Acquisition Plan
Distributors Bensussen Deutsch and Associates (PPAI 109381, D14) and BrandVia (PPAI 105536, D11) have backed away from a proposed acquisition that would have seen San Jose, California-based BrandVia join Woodinville, Washington-headquartered BDA, the companies have announced today. BDA first announced its intent to acquire BrandVia on August 13.
In a statement, the two firms said that an agreement on final terms required to close the transaction remain unresolved, and as a result, BDA and BrandVia have agreed to discontinue discussions and resume focus on their individual companies.
“We have the utmost respect for each other and the respective teams,” says Jay Deutsch, CEO BDA.
Jim Childers, CEO BrandVia, adds, “Jay and I remain the best of friends and they have built an amazing organization at BDA with a great group of people.”
The acquisition would have given BrandVia’s clients, including well-known technology giants like Adobe, Facebook, Oracle and Salesforce, access to BDA’s global fulfillment and supply chain, award-winning creative team and comprehensive ecommerce, merchandise and marketing solutions. For BDA, it would have significantly expanded the company’s operations in California and its portfolio of major technology clients.