The TMT sector remained at the forefront of global M&A activity in 2018 as deal-making continued to be driven by four complementary factors – consolidation, convergence, innovation, and expansion.
Even with outbound China M&A, historically a driver of TMT transactions, down 66% and the U.S. government exerting heightened regulatory scrutiny on inbound investments, the sector still achieved an increase of 47% in deal value. Buyers outside the tech sector continued to account for a significant amount of industry activity, with one third of all strategic technology M&A deals executed in North America involving a non-tech buyer.
Our TMT sector group focused on disruption, big data, artificial intelligence, and the internet of things. We continued to build on the success of our IoT Webinar Series with over 600 people joining us for six events covering topics such as drones, wearable tech, IoT litigation challenges, and product liability in Europe.
We launched our guide Artificial intelligence and your business, highlighting several of the key challenges and commercial opportunities for AI and advanced machine-learning. We also hosted several events in relation to AI, the evolving legal landscape, and its ethical implications.
We advised Adobe Inc. on its US$1.68bn acquisition of Magento Commerce and its US$4.75bn acquisition of Marketo, Inc. The Marketo transaction is Adobe’s largest acquisition to date.
These acquisitions enhance the capabilities of the Adobe Experience Cloud in digital commerce, lead management, and account-based marketing.
M&A lawyers in Silicon Valley and San Francisco led on these deals, with support from our antibribery, antitrust, cybersecurity, employment, employee benefits, finance, IP, international trade, and tax practices.
We advised The Anschutz Corporation, the majority shareholder of Regal Entertainment Group, on the US$5.9bn sale of Regal to Cineworld Group plc, the FTSE-250 listed global cinema business.
This transaction created one of the world’s largest cinema chains. The new cinema giant operates in 10 countries and has 9,500 screens across the United States and Europe.
An M&A team from our Denver and Silicon Valley offices led this transaction, with support from lawyers in our banking and tax practices in London and New York.
We advised Nasdaq-listed Pareteum Corp., a leading global provider of mobile networking software and services, on its takeover of AIM-listed Artilium Plc, an enterprise communications and core telecommunications business headquartered in London.
This transaction follows the successful strategic alliance between the two companies, entered into with the intent of jointly pursuing new and developed markets, accelerating growth, and increasing market penetration for both companies.
M&A teams from our London and Philadelphia offices led this transaction, supported by lawyers from our employment, employee benefits, securities, and tax practices.
We advised a FinTech subsidiary of Sberbank, the largest bank in Russia, on its acquisition of a majority stake in the Russian IaaS provider, Novintech, which was established by a systems integrator and provider of information technologies for corporations.
This partnership of industry leaders accelerates the spread of cloud technologies in Russia and gives new impetus to further development of the Russian IT market. One of the strategic goals of the partnership is to create a unified Russian marketplace to provide businesses of all sizes access to reliable, affordable, and globally competitive market cloud solutions.
An M&A team from Moscow led this transaction.
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