Major European financial deal completed
- Credit: DAVID VINCENT
Ipswich-based law firm Birketts has advised the owners of Commcise Software, a prominent provider of software as a service to the financial services sector, on the sale of a majority stake for £27m to Euronext, the leading pan-European exchange in the Eurozone.
The deal sees Euronext acquire 78% of the share capital of Commcise.
Founded in 2013 and headquartered in London, Commcise offers a unique cloud-based research commission management, evaluation and accounting solution built to meet the needs of asset managers, brokers and independent research providers.
The complete founding team of Commcise will remain in place, continuing to grow the business while benefiting from Euronext’s reach and expertise with asset managers and broker dealers with mid-term liquidity mechanisms.
Birketts advised the Commcise owners on all legal matters. Adam Jones (corporate partner) led the team which included Alex Forwood (corporate associate), Tom Utting (corporate solicitor), Karl Pocock (tax partner), John Kahn (tax senior associate) and Clare Barlow (employment legal director).
You may also want to watch:
Adam Jones added: “Having worked with the owners of Commcise since its inception, it was a great privilege to continue to be alongside them on this transaction. Although the timetable for the deal was particularly challenging, our in-depth knowledge of the Commcise business and the wider financial services and technology sectors meant we understood the value that Euronext was looking to secure, so we were able to help the clients close out favourable terms in very short order on what was a complex international transaction.”
- 1 Body of man, 22, found in River Orwell
- 2 WATCH: 'Selfish' drug-driver ploughs into police detective's vehicle
- 3 'Kind and loving' husband-to-be dies of lymphoma aged 27
- 4 Aldi targets Felixstowe, Saxmundham and Sudbury for new stores
- 5 First look at £10m Sudbury garden centre revamp
- 6 Former Town assistant Taylor back in football
- 7 Pub near Stowmarket closes temporarily due to Covid-19 case
- 8 265 new homes set to be built off A14 at Stowmarket
- 9 Mum of 'beautiful' Lily calls for young people to have their hearts tested
- 10 'I can't carry it' - Shock as plant starts growing eight inches a day