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NEC buys CSG’s tech business
Corrs Chambers Westgarth and DLA Piper have acted on a $227.5 million acquisition.
Digital
Firms: Corrs Chambers Westgarth (NEC Corporation), DLA Piper (CSG)
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Deal: Acquisition of CSG Limited’s Technology Solutions business and associated transitional services
Area: M&A
Value: $227.5 million
Key players: The Corrs team advising on the transaction was led by senior corporate M&A partner Teresa Handicott, who was supported by special counsel Andrew Mackenzie and senior associate Nicole Graham. The M&A team was assisted by IP/IT specialist partner Helen Clarke and senior associate Sophie Bradshaw. The DLA team comprised Melbourne-based corporate partners Steven Casper and Mark Burger, with senior associate Greg Monahan, solicitor Rebecca Zwier and IP and technology senior associate Sarah Dolan
Deal significance: In announcing the transaction, NEC said that this investment will position NEC Australia Pty Ltd as one of the top-tier ICT companies in Australia by revenue (over $400m) and employees (approximately 1550). The acquisition is expected to close in early July and is subject to several standard sales conditions and final Foreign Investment Review Board approval.
