Taylor Wessing has advised appScatter Group plc on its acquisition of Airpush, Inc., a company based in Los Angeles which operates one of the largest global mobile advertising platforms.
The purchase price for the acquisition was satisfied entirely in appScatter shares, resulting in 75% of the share capital of appScatter being held by previous Airpush shareholders. The transaction valued Airpush at approximately £80 million and the enlarged group has rebranded as "Airnow plc".
Commenting on the transaction, lead partner Tandeep Minhas, said:
"We were very pleased to be able to combine our M&A and technology sector experience in order to help appScatter with this this complex cross border transaction."
Philip Marcella, CEO of appScatter, said:
"This was a transformational deal for us. The Taylor Wessing team provided outstanding advice and support to help deliver the project within a challenging timeframe".
The transaction team included Tandeep Minhas, Tom Benjamin, Will Belcher, Katie Fellows, Anna Humphrey and Anna McCaffrey, together with overseas counsel in 10 different jurisdictions.