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M&A: Acquiror's Counsel

IBM's Acquisition of Xtify

09 Oct 2013

On October 3, 2013, IBM announced the acquisition of Xtify Inc., a leading provider of cloud based mobile messaging tools that help organizations improve mobile sales, drive in-store traffic and engage customers with personalized offers. Cravath represented IBM in connection with this transaction. Financial terms were not disclosed.

IBM's Acquisition of The Now Factory

09 Oct 2013

On October 1, 2013, IBM announced a definitive agreement to acquire The Now Factory, a privately held, Dublin, Ireland-based provider of analytics software that helps communications service providers deliver better customer experiences. Cravath represented IBM in connection with this transaction, which is subject to customary closing conditions and is expected to be completed in the fourth quarter of 2013. Financial terms were not disclosed.

Ashurst advises Chesnara on its acquisition of Direct Line Life Insurance

08 Oct 2013

Ashurst is advising Chesnara on its £62 million acquisition of Direct Line Life Insurance Company Limited (DLL) from Direct Line Insurance Group plc. Chesnara is paying £39.3 million for DLL, with the remaining value being taken as a pre-sale dividend.

This deal marks another acquisition by Chesnara in the closed life company market, and is further proof of the company's ability to execute such deals successfully.

DWF advises Equiniti on acquisition of Killik & Co's Employee Services

08 Oct 2013

National business law firm, DWF, has advised the Equiniti Group, a leading financial and business services outsourcing provider, on the acquisition of Killik Employee Services, a market leading provider of discretionary employee and executive share plan administration.

The acquisition strengthens Equiniti's global offering and will see the Group expand its current Employee Benefit Solutions service, enabling it to focus on delivering a high quality service to UK PLCs and support them in their global business.

Shearman & Sterling Advises Fairfax Financial Holdings on $4.7 Billion Acquisition Offer for BlackBerry

07 Oct 2013

Shearman & Sterling is advising long-time client Fairfax Financial Holdings Limited (Fairfax) in its proposal to acquire BlackBerry Limited (BlackBerry) for US$9 per share in cash, for an aggregate transaction value of approximately US$4.7 billion.

Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

DLA Piper advises E.ON Connecting Energies on acquisition

07 Oct 2013

DLA Piper has advised E.ON Connecting Energies (ECT) on its acquisition of Matrix, the UK market leader in energy management and energy efficiency services for commercial buildings. The transaction, which was exchanged on 6th September 2013 and was subject to Austrian merger clearance, completed on 4 October 2013.

The agreement covers the purchase of 100% of the issued share capital of Green Sky Energy Limited, the parent company of Matrix, from LDC a UK mid-market private equity investment fund, and also Matrix employee and management shareholders.

Linklaters advises LIXIL Corporation on acquisition of Grohe Gruppe

04 Oct 2013

Dusseldorf, 26 September 2013. Linklaters has advised LIXIL Corporation on the acquisition of the Grohe Group from Texas Pacific Group and DLJ Merchant Banking Partners. Special purpose entity for the purchase will be a Luxembourg company held by LIXIL and the Development Bank of Japan. LIXIL, the Japanese producer of building materials and technology, has thus negotiated one of the largest acquisitions in Germany by a Japanese company. The Grohe Group has approx. 9,000 employees worldwide and a total of six production plants located in Germany, Portugal, Thailand and Canada.