Taylor Wessing has advised ATTRAQT Group plc, a leading provider of visual merchandising, e-commerce site search and personalised recommendation technology, on its conditional £25 million reverse takeover of its peer Fredhopper BV.

In order to fund the acquisition, ATTRAQT will raise up to £28.5 million by means of a significantly oversubscribed placing and open offer. The combined group will be re-admitted to AIM on 7 March 2017, subject to shareholder approval at the general meeting on 6 March 2017.

ATTRAQT is a long standing client of Taylor Wessing and the firm advised ATTRAQT on its admission to AIM in August 2014.

The Taylor Wessing team was led by Robert Fenner and Tandeep Minhas, supported by corporate associates James Homan, Helen Pantelides, Amy Coburn, Karen O’Grady and Claudia Frame. Specialist input was provided by Sian Skelton and Michelle Sally (IP), James Stewart (Tax), Ann Casey (Tax & Incentives) and other valued support from across the firm.

Robert Fenner, London partner commented on the deal: “ATTRAQT is an innovative company in a dynamic industry. The reverse takeover of Fredhopper is a transformative acquisition giving the enlarged group a strong presence in the UK, Europe and USA with approximately 250 clients. It is a testament to management and ATTRAQT’s e-commerce search technology that the deal was completed, all the more so given the recent uncertainties in the macroeconomic environment.”