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Swedish comms giant makes billion-dollar Aussie acquisition
Global law firm K&L Gates has advised Sweden-based Sinch AB on its $1.7 billion acquisition of SMS marketing technology company MessageMedia.
Emma Musgrave
Firms: K&L Gates (Sinch AB); undisclosed (MessageMedia).
Value: $1.7 billion.
Area: M&A, technology.
Key players: The team was led by corporate relationship partner Thilo Winkeler (Berlin) and corporate partner Nick Ramage (Sydney), who was supported by the Sydney-based team of corporate partner Dan Atkin, special counsel Roddy Johnson, senior associate Julia Kingston, and lawyer Leon Fung.
The team also was supported by Berlin partner Annette Mutschler-Siebert and Sydney partner Ayman Guirguis, providing competition law advice.
Pittsburgh corporate partner David Edgar, who guided Sinch on two recent US-focused transactions, advised on overall strategy, structuring, and US-related legal issues, as per a statement provided by K&L Gates.
Deal significance: Sinch AB is described as a global leader in cloud communications and telecommunications for mobile customer engagement.
Meanwhile, MessageMedia offers a web-based software-as-a-service (SaaS) suite leveraging two-way messaging through a highly automated and scalable tech platform that is purposefully tailored to meet the specific needs of small and medium-sized businesses.
Sinch AB’s acquisition of MessageMedia was made through a cash and stock transaction valued at $1.7 billion. Closing of the transaction is expected to occur in the second half of 2021, subject to regulatory approvals and other customary closing conditions.
Commenting on the deal, K&L Gates’ Mr Winkeler said: “We’re delighted that Sinch continues to entrust our firm with their global legal challenges, and are excited to see both their expansion into Australia materialise and success for their expanding customer base.”
K&L Gates’ Mr Ramage added: “We're very pleased to assist Sinch in another strategic acquisition and to showcase K&L Gates’ strength across multiple jurisdictions by quickly assembling a deal team of lawyers in Australia, the United States, and Europe.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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