Fash was responsible for Ovum’s inorganic growth activities, delivering 50% of the company’s overall growth objectives. He was responsible for leading, defining and delivering: from identifying companies that satisfied the strategic criteria though to final integration post-acquisition. Often, he acted as Managing Director of the acquired company to ensure it was safely transitioned into Ovum operationally and culturally – delivering the commercial objectives.
One example is the acquisition of RHK, a US telecoms markets analysts firm with a turnover of US$4.1m. The company was not profitable but Fash saw the underlying potential to drive top line growth for Ovum. The organisation had a solid subscription model but laboured under a consultancy operation with a less predictable revenue stream. Ideally located, with one of two offices near Ovum’s Boston operation, RHK’s success as an acquisition depended entirely on how the integration was managed.
Fash is a firm believer that successful integration begins with good communication during acquisition. This is one reason why companies call on his services rather than specialist firms. He was able to ensure that meetings with RHK’s owners were personal but discreet and that staff and clients were fully engaged throughout the process he led.
The result was a 40% reduction in costs for RHK, improved revenues and ultimately a significant increase in Ovum’s profits.Post-acquisition, Fash replaced the outgoing chief executive for 6 months to build on the initial groundwork and manage the transition to business as usual. The result was a 40% reduction in costs for RHK, improved revenues and ultimately a significant increase in Ovum’s profits. There has been no extraordinary attrition for RHK and one sign of the successful alignment of the acquisition to Ovum’s strategic needs is that several RHK employees have been promoted over the years to key positions within Ovum itself.
