OC,Wilson Sonsini seal US data deal
Transatlantic technology leaders combine on Informatica's UK/US buy-out of data rival Striva
October 29, 2003 at 07:03 PM
2 minute read
Osborne Clarke (OC) has teamed up with San Francisco-based Wilson Sonsini to advise on a $62m (£37m) US merger.
The firms advised Nasdaq-listed US data management corporation Informatica on its acquisition of rival data management company Striva.
OC picked up the instruction through its Palo Alto office, which secured a referral from Wilson Sonsini, although the Bristol-based firm's Reading office acted for Informatica in the past.
Wilson Sonsini handled the US side of the transaction while OC did the UK work.
The Palo Alto office was set up by OC in 2000 as part of a drive to win the English end of Anglo-American technology deals.
The office is currently headed by former senior partner Richard Smerdon, who replaced current managing partner Simon Beswick earlier this year.
"Both Informatica and Striva have UK operations and we have known Informatica through our Thames Valley office for some time now," said corporate partner James Massey-Collier who led UK side of the deal.
"However, in this case our role came through Wilson Sonsini."
He said that the fact that the firm did the deal out of both its Reading and Silicon Valley offices meant that OC lawyers were able to work on the instruction for almost 24 hours a day.
"As the bulk of the value of the Striva's business is in the UK it was like doing a UK acquisition, although the basic agreement was a US merger," Massey-Collier added.
OC advised on all the UK aspects of the merger, including the merger documentation, European competition law, UK tax and employee stock option plans.
Striva opted not to use any UK counsel, using instead another Palo Alto firm, General Counsel Associates, which managed the deal from the US.
Corporate and securities partners Mark Bertelsen and Jose Macia headed the deal for Wilson Sonsini.
Informatica specialises in data management, data integration and business intelligence software, while Striva specialises in mainframe connectivity technology.
The two sides claim the deal will allow them to offer their customers better integrated products that can manage data from any platform.
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