Wallace acts for leading data management company ID Business Solutions in its cash purchase of Inforsense
Wallace acted for long standing client ID Business Solutions (“IDBS”) in the acquisition of the entire issued share capital of InforSense. The transaction is an all cash deal. The tie up has attracted attention in the technology media, as it leads the market in a trend where vendors grounded in scientifically oriented analytic software are looking to broaden their appeal to a wider market.
IDBS specialises in providing innovative data management solutions to multinational pharmaceutical and R&D organisations. InforSense is a scientifically oriented analytics vendor which provides data management solutions using globally recognised technologies and which had been looking to broaden into the mainstream business intelligence market. With the addition of the InforSense product portfolio, IDBS will expand its large scale data integration activities to support international data sharing and broaden its life sciences portfolio into the emerging growth area of biomarker development and personalised medicine.
This is the latest in a series of M&A transactions that Wallace has completed; the firm has seen a healthy amount of activity which continues at a steady pace and continues to form the backbone of the firm’s corporate department. The team’s particular expertise in the technology sector has been further enhanced following the recruitment of Matthew Pryke in 2007; Matthew was recently appointed head of the firm’s commercial and IP group and he and his team assisted David Judah, head of corporate finance at Wallace, on this transaction.
David Judah commented, “It is extremely satisfying to see our client complete this significant acquisition, having advised them for many years on the various strategic steps they’ve taken to get to this point. The acquisition of InforSense will create an even stronger platform from which to gain new business in the highly competitive business intelligence market.
“This deal involved carrying out due diligence on three foreign subsidiaries in one month and Inforsense had a number of institutional investors and many classes of shares, options and warrants. These things made it a complex transaction and a lot was achieved in a very tight timescale.”
Neil Kipling, CEO and founder of IDBS, said, “Wallace, as always, has been an invaluable asset to this transaction. They make it a point of knowing our business intimately and understanding what we’re trying to achieve. They have a real grasp of the legal and commercial challenges that an entrepreneurial technology company needs to confront.”
Wallace has years of extensive experience advising in the technology sector and has a solid technology client base which is served by a range of the firm’s departments, including corporate, commercial, IP and litigation. Typically these clients are fast-growing companies at the cutting edge of their respective arenas – whether it is sound equipment, image technology, data management, or engineering technology for the defense industry, to name but a few. In the past 12 months Wallace has acted for AlmavivA Group (one of Italy’s largest information technology companies), AVI Technologies (a leading importer of photographic hardware), Cantos Communications (who produce pioneering online video investor communication products for many FTSE companies), Image Me (who provide software for “green screen” photographic applications) and several companies in the area of nanotechnology, a growth area in manufacturing technology.
The Wallace team was assisted on the IDBS transaction by firms in three different jurisdictions; Moses & Singer provided US law advice, Redeker Sellner Dahs & Widmaer provided German law advice and Victor Chu & Partners provided advice in relation to the PRC.
Inforsense was advised by Manches.
Wallace acts for leading data management company ID Business Solutions in its cash purchase of Inforsense
Wallace acted for long standing client ID Business Solutions (“IDBS”) in the acquisition of the entire issued share capital of InforSense. The transaction is an all cash deal. The tie up has attracted attention in the technology media, as it leads the market in a trend where vendors grounded in scientifically oriented analytic software are looking to broaden their appeal to a wider market.
IDBS specialises in providing innovative data management solutions to multinational pharmaceutical and R&D organisations. InforSense is a scientifically oriented analytics vendor which provides data management solutions using globally recognised technologies and which had been looking to broaden into the mainstream business intelligence market. With the addition of the InforSense product portfolio, IDBS will expand its large scale data integration activities to support international data sharing and broaden its life sciences portfolio into the emerging growth area of biomarker development and personalised medicine.
This is the latest in a series of M&A transactions that Wallace has completed; the firm has seen a healthy amount of activity which continues at a steady pace and continues to form the backbone of the firm’s corporate department. The team’s particular expertise in the technology sector has been further enhanced following the recruitment of Matthew Pryke in 2007; Matthew was recently appointed head of the firm’s commercial and IP group and he and his team assisted David Judah, head of corporate finance at Wallace, on this transaction.
David Judah commented, “It is extremely satisfying to see our client complete this significant acquisition, having advised them for many years on the various strategic steps they’ve taken to get to this point. The acquisition of InforSense will create an even stronger platform from which to gain new business in the highly competitive business intelligence market.
“This deal involved carrying out due diligence on three foreign subsidiaries in one month and Inforsense had a number of institutional investors and many classes of shares, options and warrants. These things made it a complex transaction and a lot was achieved in a very tight timescale.”
Neil Kipling, CEO and founder of IDBS, said, “Wallace, as always, has been an invaluable asset to this transaction. They make it a point of knowing our business intimately and understanding what we’re trying to achieve. They have a real grasp of the legal and commercial challenges that an entrepreneurial technology company needs to confront.”
Wallace has years of extensive experience advising in the technology sector and has a solid technology client base which is served by a range of the firm’s departments, including corporate, commercial, IP and litigation. Typically these clients are fast-growing companies at the cutting edge of their respective arenas – whether it is sound equipment, image technology, data management, or engineering technology for the defense industry, to name but a few. In the past 12 months Wallace has acted for AlmavivA Group (one of Italy’s largest information technology companies), AVI Technologies (a leading importer of photographic hardware), Cantos Communications (who produce pioneering online video investor communication products for many FTSE companies), Image Me (who provide software for “green screen” photographic applications) and several companies in the area of nanotechnology, a growth area in manufacturing technology.
The Wallace team was assisted on the IDBS transaction by firms in three different jurisdictions; Moses & Singer provided US law advice, Redeker Sellner Dahs & Widmaer provided German law advice and Victor Chu & Partners provided advice in relation to the PRC.
Inforsense was advised by Manches.