Global law firm White & Case LLP has advised Comverse, Inc. (NASDAQ: CNSI), a global leader in digital services headquartered in Wakefield, Massachusetts, United States, on its agreement to acquire Acision, a privately held leader in secure mobile messaging and engagement services, based in Reading, United Kingdom.
The purchase price consists of US$135 million in cash, 3.13 million shares of Comverse's common stock, and potential earnout payments of up to US$35 million. In addition, Comverse will seek to maintain Acision's existing US$157 million senior credit facility following completion of the transaction.
"The team at White & Case delivered the highest-quality legal service, exhibiting dedication and tenaciousness from the start of the auction process through the signing of the acquisition agreements yesterday," said Philippe Tartavull, President and Chief Executive Officer, Comverse.
White & Case's international team, which advised on the transaction, was led by partners Ross Allardice and Gavin Weir (both in London) and Colin Diamond (New York), with associates Alex Bircham, Erika Games, Daniel Harrington-Greenwood and Tina Kostelenos (all in London). The team also included partners Philip Trillmich (London) and Scott Weingaertner (New York), with support from counsel John Scheibeler and associate Ketan Pastakia (both in New York) and associates Helen Levendi and Laura Hoyland (both in London).
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