Law firm Paul Hastings LLP represented Monitise plc (LSE: MONI) on the acquisition of Clairmail Inc, a US provider of mobile banking and payments solutions.
Monitise plc is a technology and services company delivering mobile banking, payments and commerce networks worldwide.
The Acquisition values Clairmail at approximately USD173m (GBP109m), based on Monitise’s share price of 35.0 p as of the close of trading on 23 March, 2012.
The deal is conditional upon shareholder and US regulatory approvals. It is expected that the Acquisition will be completed before the end of the financial year 2012.
Working as an integrated team, the team was led in the US by Partners Erik Belenky, Chris Daniel, Jeff Hartlin, Jane Song, Phil Marzetti and Eric Keller and in the UK by Ronan O’Sullivan, and associates Matthew Poxon, Brooke Russ and Paul Puckett (Corporate M&A); Todd Schneider (IP); Samantha Eldredge (US Securities); Damian Myers (Employment); and Sean Honeywill (Tax).
