Global law firm DLA Piper is advising leading Internet of Things (IoT) and cloud-based solutions company Buddy Platform Limited (ASX: BUD) on its AU$71 million acquisition of global smart lighting technology company LIFX and associated AU$18.1 million placement.

Headquartered in Seattle, with offices in Adelaide, Buddy provides simple and engaging solutions to make every space smarter and their occupants more informed, via three core offerings – Buddy Ohm, Buddy Cloud and Parse on Buddy. Buddy Ohm is an end-to-end, low cost solution for monitoring the consumption of key building resources.

LIFX is one of the world's leading manufacturers of smart lighting. It has sold 1.8 million units across more than 100 countries and are used in nearly one million homes.

The DLA Piper team is being led by Perth Corporate partner and Co-Head of DLA Piper's Disruption and Innovation Group Marc Wilshaw, with partner Alex Regan, special counsel Hedley Roost and solicitors Jonathan Foo, Kirsty Hall and Rose Wilson. DLA Piper's Palo Alto team is also providing assistance, including partners Brandee Diamond and Cisco Palao-Ricketts, and associates Jennifer Kristen Lee, Philipp Tsukanov and Eric Chow.

Marc Wilshaw said: "This is a highly strategic and transformative transaction for our client Buddy. The LIFX smart lighting products will provide the perfect partner to their Buddy Ohm platform, and the combination of intelligent products will deliver a growing customer base and entry to new markets. We have been pleased to partner with Buddy once again, as they continue to grow and realise their vision of creating smarter spaces around world."