“I think growing organically in international markets is difficult when you’re coming from, say the US or if you’re coming from Australia and trying to build,” says Redflex CEO Mark Talbot on this week’s Highways Voices podcast. “It can take a long time. I think if you do a basic make-or-buy type of analysis, you come to the analysis – is it worth it to go ahead and acquire an asset versus trying to develop it on your own?”
Talbot is talking of his company’s recent acquisition by American smart mobility company Verra Holdings announced earlier in June, which he negotiated during the lockdown.
“That’s a that’s a pretty significant task to close an acquisition of this size, via Zoom and have multiple geos have to participate in multiple countries, [with] regulatory regulators sign off,” he explains “You get really good advisors, which we had on both sides, [and] you have, fortunately for me, talented management in each of the geos… that could carry on day-to-day and run the business service our customers, while the rest of us are dealing with an acquisition.”
He talks about the importance of a great management team when running a global business without international travel, how he’s kept the supply chain going during lockdown, and what his plans are for the future.
The podcast also hears why ITS (UK)’s Women in ITS Forum has won this week’s “Adrian’s Accolade” plus Paul and Adrian’s round-up of the news on the Highways News website this week.