Posts

Eversheds Sutherland advises Cox Communications on acquisition

Eversheds Sutherland is pleased to announce that it represented client Cox Communications, the largest private telecom company in America, in entering into a definitive agreement to acquire Charlotte-based Segra, one of the largest privately held fibre infrastructure providers in the United States.

Under the terms, Cox will acquire Segra’s commercial services segment, which is a leading super-regional, fibre-based provider serving commercial enterprise and carrier customers in nine states in the Mid-Atlantic and Southeast. The company’s dense metropolitan fibre network provides enhanced technology solutions and a commitment to a superior customer experience.

As part of the transaction, EQT Infrastructure will retain ownership of Segra’s fiber-to-the-premise (FTTP) residential and small- to medium-sized business segment in Virginia and North Carolina and accelerate the plan to expand broadband services to neighbourhoods and markets throughout their regions. The transaction is subject to customary regulatory approvals and closing conditions.

Corporate Partners David S. Phillips and Matthew Block led the Eversheds Sutherland team, which included Partners Michael A. Hepburn, M. Hill Jeffries, Taylor Kiessig, Meredith O’Leary, Jeremy D. Spier, Kristina Kopf Thomas, Counsel Aaron Moody, Staff Attorney Bonnie R. Burke, and Associates Robert R. Christoffel, Kristin W. Cleare, Jazmen B. Howard, Caitlin G. Naylor, Mary Kate Nicholson, William D. Ponder, Alexander F. L. Sand, and Laura A. Taylor.

About Eversheds Sutherland’s Corporate Practice

With more than 700 attorneys worldwide, Eversheds Sutherland’s global mergers and acquisitions team provides pragmatic advice and comprehensive support that enables clients to evaluate, structure and complete transactions across a broad spectrum of industries.

The team combines decades of experience with in-depth knowledge of local and cross-border practices. Wherever the transaction is led from, we provide a seamless and integrated worldwide service.

Our attorneys are well versed in the unique requirements of mergers, tender offers, stock and asset acquisitions, corporate restructurings, spin-offs, recapitalisations and other deal structures. We negotiate and establish alliances, joint ventures and other partnering relationships. In addition, we develop innovative approaches to implement other tailored commercial relationships.

Our global M&A team advises clients across a broad range of sectors including financial services, insurance, payment systems, technology, communications, energy, industrials, consumer products, professional services, health care and eCommerce. We understand regulatory frameworks and the impact on transactions of the key issues that affect your business. This in-depth sector knowledge allows us to add real value to the M&A process.

DLA Piper advises Cofense in acquisition of Cyberfish

DLA Piper represented Cofense, the leading provider of phishing detection and response (PDR) solutions, in its recent acquisition of Cyberfish, a provider of next-generation phishing protection powered by Computer Vision and advanced machine learning technology.

By integrating innovative machine learning capabilities from Cyberfish with Cofense’s detection and response technology, Cofense will bring to market a holistic, advanced automation solution for email protection, detection and response.

“We were thrilled to partner with Cofense, bringing our extensive cybersecurity and technology sector M&A experience to advise on its acquisition of Cyberfish,” said Marc Samuel, the DLA Piper partner who led the deal team. “This successful transaction will enable Cofense to continue developing transformative solutions to address issues of phishing and email security through advanced artificial intelligence and automation.”

In addition to Samuel (Washington, DC), the DLA Piper deal team was led by Shirley Qin (Washington, DC).

With more than 1000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket.

Kirkland Advises InPost S.A. on Proposed Acquisition of Mondial Relay

Kirkland & Ellis is advising InPost S.A., the Polish parcel locker firm formerly backed by Advent International Corp. and recently listed on Euronext Amsterdam, on its proposed acquisition of 100% of the shares of Mondial Relay, the leading French eCommerce out-of-home parcel delivery platform, from Otto Group for approximately EUR 565 million. The proposed acquisition would allow InPost to take a major step in its ambition to become Europe’s leading out-of-home solution for eCommerce.

The proposed transaction remains subject to the completion of the consultation of Mondial Relay’s employee representative body and the obtaining of certain regulatory clearances.

The Kirkland team was led by transactional partner Laurent Victor-Michel and associate Louis Gosset; tax partner Nadine Gelli and associate Sonia Bouaffassa; antitrust and competition partner Matthew Sinclair-Thomson and associates Shahrzad Sadjadi and Samantha Hobson-Jones; technology & IP transactions associates John Patten and Ben Zeris; with additional support from transactional partner Adrian Maguire, Ben Leyendecker and associate Sebastian Haefele.

Read InPost’s Press Release

Kirkland advises Vista Equity Partners in $3.5 billion acquisition

Kirkland & Ellis represents Vista Equity Partners, a global investment firm focused on enterprise software, data and technology-enabled businesses, which announced today a definitive agreement to acquire Pluralsight, Inc. (NASDAQ: PS), the technology workforce development company. Under the terms of the agreement, Vista, in partnership with its institutional co-investors including Partners Group, will acquire all outstanding shares of Pluralsight common stock in an all-cash transaction valued at approximately $3.5 billion.

The transaction is expected to close in the first half of 2021, subject to customary closing conditions, including approval by Pluralsight shareholders and receipt of regulatory approvals. Upon completion of the transaction, Pluralsight will become a privately held company and shares of Pluralsight common stock will no longer be listed on any public market.

The Kirkland team was led by transactional partners David Klein, Daniel Wolf, Stuart Casillas, Nathan Davis and James Beach, along with transactional partner Jean Lee and associates Nick Howe and Katherine Schloss Ackerman, debt finance partners Sonali Jindal and Douglas Tedeschi, tax partners David Kung and Heidi Yuen, executive compensation partner Mike Krasnovsky and associate Laura Gallo, and capital markets partner Robert Goedert.

Click here to read full press release.

White & Case advises Calastone on sale to The Carlyle Group

Global law firm White & Case LLP has advised the management team of Calastone on the acquisition by The Carlyle Group of a controlling interest in Calastone, the management team retaining a minority stake.

Founded in 2007, Calastone is the largest global funds network, connecting the world’s leading financial organisations with over 2,300 clients in 43 countries and territories and processing £200 billion of investment value each month. Calastone has helped to transform the funds industry by creating innovative new ways to automate and digitalise the global investment funds marketplace, reducing frictional costs and lowering operational risk to the benefit of all.

White & Case advised Calastone management on the sale process, as a result of which global investment firm The Carlyle Group agreed to acquire a controlling interest in Calastone from its current shareholders, including Octopus Ventures and Accel. Calastone management retains a minority stake.

The transaction is subject to regulatory approval. Financial terms of the transaction are not disclosed.

The White & Case team in London that advised on the transaction was led by partner Mike Weir and included partners David Goldberg and Daniel Turgel and associates James Turner and Josephine Levick.

Pinsent Masons advises 4D Pharma PLC on innovative move to NASDAQ

Multinational law firm Pinsent Masons has advised AIM listed biotech company 4D Pharma plc (4D) on its acquisition of Longevity Acquisition Corporation, a special-purpose acquisition company (SPAC) listed on NASDAQ. Upon completion of the transaction 4D will apply for its American Depositary Shares to be admitted to trading on NASDAQ.

4D, who are leading the development of live biotherapeutic products, are believed to be the first UK biotech to make the move to NASDAQ via the acquisition of a SPAC, breaking new ground for UK listed biotech’s. The Company will also maintain its current listing on AIM.

With 4D acquiring the SPAC in order to inherit its listing on NASDAQ, they are able to by-pass the usual nine month lead-in time foreign issuers have to contend with when seeking a direct listing on NASDAQ.

The Pinsent Masons team was led by Charles Waddell and Sunjay Malhotra with assistance from Julian Stanier, Amy Moore and Nathalie Goetsches; US securities advice was provided by Roberta Markovina and Beatrice Kelly; Eloise Walker, Jamie Robson and Daniel Place assisted on UK tax matters; and Fleur Benns and James Sullivan-Tailyour provided assistance with regards to 4D’s share option plans.

Commenting on the transaction, lead partner at Pinsent Masons Charles Waddell said: “We have enjoyed working with 4D for a number of years, they are at the cutting edge of live biotherapeutic products and this transaction is an important step in their future development and access to key to international markets.

Given the number of European biotech’s that covet a move to NASDAQ, and notwithstanding the complex financing structures of SPACs, this deal highlights that there is an alternative route to the US markets. It is therefore unlikely to be the last biotech we see looking at SPACs to access the deep pool of sophisticated investors in the United States.”