Atomos acquires UK-based Timecode Systems
Maddocks has advised ASX-listed global video technology company Atomos Limited on its acquisition of Timecode Systems.
Firms: Maddocks (Atomos Limited); Brown Rudnick LLP (Timecode Systems)
Deal: Atomos has acquired 100 per cent of Timecode Systems.
Value: Atomos successfully raised $22.56 million via a two-tranche institutional placement of shares with the proceeds to be used to fund the acquisition and to provide Atomos with growth capital, according to a Maddocks’ statement.
Key players: The Maddocks’ legal team was led by partner Damien Wurzel, with assistance from senior associate Steven Tang, associate Alex Musgrove and lawyers Jack Coventry and Cassandra Charlaftis.
Partner Catherine Merity and special counsel Rosa Sayer from Maddocks’ equity capital markets team advised on the capital raising.
Deal significance: Timecode Systems is described as a UK-based company which develops unique and patented IP for wireless synchronisation of audio and video devices for use across professional and consumer markets.
The 100 per cent acquisition will result in the integration of Timecode’s technology with the Atomos product range.
“This is the latest transaction in Maddocks’ long-term relationship with Atomos, and marks another milestone in a period of significant growth for the company. Maddocks advised Atomos and its founders pre-float, and advised on Atomos’ initial public offering and ASX listing in 2018,” Maddocks said in a statement.