Baker McKenzie has advised Claranova, a company listed on Euronext Paris, in the context of the issuance of net share settled bonds convertible into new shares and/or exchangeable for existing shares (ORNANE) for an amount of €29 million.
A global internet and mobile player, Claranova is one of the few French groups in this sector to post sales of over €130 million, more than half of which are generated in the United States. Claranova has focused its strategy on three areas of business – digital printing through the group’s PlanetArt division (world leader in mobile printing), management of the Internet of Things (IoT) via its myDevices division and lastly its e-commerce activity via its Avanquest division.
The objective of this ORNANE issuance is to enable Claranova to finance the acquisition of the Canadian companies Upclick (e-commerce transaction management platform), Lulu Software (a major player in PDF solutions in the world through its SODA PDF tool) and Adaware (antivirus and internet security solutions of global renown) by its Avanquest division, which was announced in March 2018.
Baker McKenzie advised the Claranova group with a team comprising Matthieu Grollemund, partner, François-Xavier Naime, partner, and Raphaël Sendowski, associate.