SWAAB Attorneys has confirmed it advised New York based company inovia Holdings Pty Limited, on the partial acquisition by UK company, RWS Holdings plc.
As The New Lawyer reported earlier this week, Blake Dawson advised RWS Holdings on the deal.
RWS Holdings has acquired one-third interest in the provider of web-based international patent filing solutions, and an agreement to acquire the remaining share capital, for a maximum aggregate price of US$31.2 million in September 2013.
The total cash consideration of the deal comprises an initial payment of US$5.8 million and deferred consideration for the remaining two thirds of the issued share capital, which will be calculated according to an agreed earn-out formula and payable in September 2013.
The deferred consideration is capped at a maximum of US$25.4 million, which will become due if revenue and EBITDA targets for the year ended 30 June 2013 are achieved.
inovia is the largest non-law firm provider of international patent filing solutions globally, Swaab said today.
Swaab advised inovia and its shareholders on all legal aspects of the transaction.