22 Feb 2012 | 05:08 pm | 1 min. read
International law firm Pinsent Masons has advised KeyedIn Solutions, LLC on its public takeover and take-private of Atlantic Global PLC for $8m (USD). The takeover is one of the first in the UK to be completed under the new formal sale process of the Takeover Code.
KeyedIn Solutions is a US company, based in Minneapolis, Minnesota. It was founded by a team of technology leaders with experience in developing and delivering technology applications in areas such as enterprise resource planning, professional services automation and project management.
Yorkshire based Atlantic Global PLC provides SaaS (Software as a Service) solutions and IT consulting services to streamline workflow processes and increase operational efficiency. The company has over 16 years experience of successfully deploying comprehensive timesheet, project management, professional services automation and project portfolio management solutions.
”We are quickly building a new company with new technology, new teams and certainly new passion,” said KeyedIn co-founder and Chairman of the Board George Klaus. "We have exciting plans for the ongoing development of the product line and are already geared up to take the products into the U.S. and mainland Europe”, added Lauri Klaus, KeyedIn’s co-founder and CEO. James Waterhouse, KeyedIn’s managing director, echoed this view: "We believe that the ability to take this product into the US and deliver growth will be of great benefit to both current customers and the team at Atlantic Global. It is fantastic to see US investment in home grown British IP."
The Pinsent Masons team advising on the deal was led by Corporate Partner Alison Starr, assisted by Alan Chan and Anaick Summers (corporate) and John Christian, Jon Robinson and Suzannah Crookes (tax and share plans).
Commenting on the deal Alison Starr said: "It has been a pleasure to work with such a dynamic team with a truly international outlook. The transaction has challenged a number of areas in the UK Takeover Code relating to the formal sale process and UK takeovers in the international arena. The additional support from management and employees should enable KeyedIn to deliver its plans for an exciting future."
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