21 August 2020
We have advised on the sale of SciBite, a semantic AI company headquartered in Cambridge, to the global research publishing and information analytics provider, Elsevier, part of the RELX group.
The deal was led by our corporate technology and life sciences specialists based in Cambridge, Europe's largest technology and life sciences cluster.
SciBite is the developer of a suite of award-winning technology products that identify and extract scientific insights from structured and unstructured text and content to produce semantically-enriched, machine-readable data, allowing major pharmaceutical and life sciences companies to make streamlined, more efficient decisions.
As part of Elsevier, SciBite will have the ability to deliver enterprise-grade technology and new advances in scientific insight and discovery across its global client base.
Corporate technology partner Ross McNaughton said: "This is an incredibly exciting step for the SciBite team. The company has scaled impressively since its launch and has built a reputation for creating highly innovative and effective products for the life sciences industry. There is little doubt that this company is one of the many success stories for tech and life sciences in Cambridge, and we wish the SciBite team all the best as they move in to the company's next chapter under the Elsevier umbrella. As one of the UK's leading life sciences and technology practices, we look forward to advising more of the brightest and most ambitious companies working in this space."
Robert Greenwood, CEO and President of SciBite, said: "This is a proud and important moment for our business. We are immensely grateful to Ross and the wider Taylor Wessing team who have been exceptional in every respect and provided tremendous value to us with their experience and highly innovative, commercial advice. They come highly recommended, and they deserve their reputation as having the UK's market-leading life sciences and technology team."
The team was led by corporate technology partner Ross McNaughton, with support from: Ed Chapman (associate), Matthew Harrison (senior counsel), Rachel Wiltshire (trainee solicitor), and Mudassar Iqbal (paralegal) in the corporate technology team; Liz Wilson and Anna Humphrey (partners) and Marina Constanti (associate) in the tax team; Adrian Toutoungi (partner) and Charlie Adams (associate) in the life sciences team; and Helen Farr (partner) and James Watkins (senior associate) in the employment team.
Taylor Wessing worked alongside Houlihan Lokey, SciBite's financial adviser on the transaction.