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t ransact ions


omg plC aCquireS SenSing SytemS inC, eStabliShing omg aS leader in a growing


market. omg plc, oxford metrics group (lSe: omg), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, has acquired Sensing Systems, inc. (Sensing), a leading provider of software products and services for aerial platforms demanding superior digital media capability, for a maximum consideration of up to $8.5m (£5.3m). A combination of Sensing and 2d3,


OMG’s defence and aerial imaging business, is highly complementary. 2d3 and Sensing are currently both well-positioned within the growing video intelligence market and work directly both with government departments and with key prime contractors. The acquisition comprises an initial consideration of $3.5m (£2.2m) with $2.5m (£1.6m) in cash and $1m (£0.6m) in OMG shares, to be satisfied by the issue of 1,568,964 new ordinary shares. Nick Bolton, Chief Executive of OMG plc,


said: “I am pleased to be announcing this acquisition of Sensing, which represents an exciting opportunity for OMG by providing a number of important benefits, such as integrated product sets, new functionality and access to new customers, particularly in the US. Technology is at the heart of OMG and bringing these businesses together will provide a strengthened platform for us to grow in the expanding video intelligence market.” The Law Office of Joshua A. Ridless,


advised Sensing Systems, Inc. in negotiating and closing the acquisition by OMG plc’s subsidiary 2d3, Inc. The firm represented Sensing Systems, Inc., for three years before the acquisition. This advanced preparation contributed greatly to what OMG called their smoothest acquisition to date. fi


Sojitz Corporation in joint venture with South indian buSineSS Conglomerate


arChean group phoenix legal and hogan lovells’ japanese office have advised advised japan’s Sojitz Corporation on its joint venture with South indian business conglomerate archean group to operate a marine chemicals plant in india. The Phoenix team was led by Mumbai


partner Sawant Singh and associate Akanksha Midha. Hogan Lovells Horitsu Jimusho Gaikokuho


Kyodo Jigyo partner Anthony Raven led for Sojitz from Tokyo, according to a Phoenix press release. The joint venture includes equity infusion


and credit support amounting to $40m, over exclusive salt supply arrangements and technical services, in order to operate a marine chemicals plant in western India for the production of industrial salt, Sulphate of Potash (SOP) and bromine. The Sojitz Group was essentially formed


through the business integration between Nichimen Corporation and Nissho Iwai Corporation. As a public listed company, this holding company was incorporated to pursue business integration, management supervision and comprehensive disclosure. Heralding a new era, the principal operating arms of the Group, Nichimen Corporation and Nissho Iwai Corporation were merged to form a new single entity, Sojitz Corporation on April 1, 2004. Phoenix Legal advised Sojitz Corporation,


Japan (Sojitz) on its joint venture (including equity infusion and credit support amounting to USD 40 million, exclusive salt supply arrangements and technical services) with the Archean Group, a large business conglomerate headquartered in south India to set up and operate a marine chemicals plant in western India for the production of industrial salt, Sulphate of Potash (SOP) and bromine. fi


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visit www.finance-monthly.com teakwood Capital


CloSeS SeCond Fund dallas-based private equity firm, teakwood Capital is pleased to announce its new fund, teakwood Capital ii. investors from the firm’s first fund committed to a large percentage of its second fund. the firm’s limited partners are a blend of family offices and institutions and teakwood’s efforts to achieve this balance of limited partners have provided the firm with invaluable resources in high-quality proprietary deal flow, portfolio company support, and market reach. Teakwood Capital II has already closed


its first transaction, ExamSoft, which offers a market-leading, turnkey solution for mid and high-stake computer-based testing. ExamSoft’s software suite makes exam creation, delivery and scoring/analysis an easy and reliable process. ExamSoft has served the testing needs of prominent academic, certification, and licensing institutions for over 10 years and in that time, has successfully administered millions of exams. Founded in 2005 by Austin Ventures


veterans, Teakwood Capital expects to grow both its professional staff and its capital under management in 2011. "We are very pleased with the progress of


Fund 1. Additionally, with highly supportive investors and exceptional access to companies that fit Teakwood’s investment strategy, we are excited about the productive new limited partner relationships we are building in Fund II," said Shawn Kelly, Managing Director of Teakwood Capital. “Our focus and approach are quite differentiated and are producing the results we anticipated.” Teakwood invests equity capital primarily


in businesses with under $3 million of EBITDA. The firm focuses on management buyouts as well as control growth equity investments in companies in Texas and neighboring states. fi


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 fi MONTHLY MARCH 2011


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