Baker McKenzie has advised Claranova on the signing of an agreement to takeover a group of three companies with the aim of strengthening its Internet activity, which is currently run by its Avanquest division.
Based in Canada, this group of companies from the IT sector is present in most countries and focuses on the following three areas of activity:
- E-commerce processing through Upclick, one of the world’s most modern platforms;
- Document management solutions and PDF applications with Lulu Software, a major player in PDF solutions in the world through its SODA PDF solution;
- Internet security with Adaware antivirus and Internet security solutions, known worldwide.
These three companies, currently owned by their founders, represent revenues of around US$ 34.7 million. This consolidation will generate an annual turnover of more than EUR 65M for the software division of Claranova.
Claranova was advised by Baker McKenzie with a team led in France by Matthieu Grollemund and Guillaume Nataf, partners, assisted by Raphaël Sendowski, associate, in Corporate M&A, and Guillaume le Camus, partner, assisted by Charles Baudoin, in Tax. In Canada, a team comprising Kevin Rooney, Alex Farcas, partners in Corporate & Securities, and Peter Clark, Tax partner, worked on the operation.