mARCH 2012 102 Legal Transactions
www.lawyer-monthly.com DEAL REPORT IDEAGEN ACQUIRES PROQUIS
Ideagen, a leading supplier of On-Demand Information and Compliance Solutions, has acquired Proquis Limited, a leading developer and supplier of compliance and quality management software to highly regulated industries. Proquis is a leading provider of compliance and quality management software to
highly regulated industries and has particular strength in the Aerospace & Defence, Healthcare, Energy and Complex manufacturing markets. The initial consideration is of GBP1.04m with potential additional deferred
consideration of up to GBP2.2m, all to be satisfied by a combination of cash and shares. The Directors believe that the Acquisition will add value to Shareholders, strategically, financially and operationally and expect the Acquisition to be earnings enhancing. David Hornsby, Chief Executive commented: "I am delighted to announce the acquisition of Proquis as I believe it is an excellent business which will significantly enhance our existing compliance capabilities. Proquis has a talented team, a robust technology platform and an outstanding client base which we believe will strengthen Ideagen. The commitment being shown by the vendors of Proquis to the enlarged business and to existing shareholders of Ideagen by electing to receive mainly Ideagen shares as consideration for the acquisition is extremely positive and underscores our belief that the acquisition will enhance our proposition. The focus on highly regulated industries is particularly attractive and I am excited about the prospects for the enlarged business." LM
DEAL REPORT
OM GROUP ACQUIRES RAHU CATALYTIC
OM Group, Inc. has purchased Rahu Catalytics Limited, the developer of a unique iron-ligand based chemistry for use in environmentally friendly coatings, composites and inks from Unilever Ventures and Management. The transaction includes all related intellectual property rights and master patents, as well as all manufacturing and supply agreements. Terms of the transaction were not disclosed. Since its founding in 2006, Rahu Catalytics has focused on the need for solutions
that incorporate more renewable materials and deliver performance at lower energy, water and waste costs in the coatings industry. Since early 2009, the company has operated under an exclusive commercial agreement with Om Group with regards to its Borchi® OXY-Coat product line, which is being utilized by the market leaders in the global coatings industry. "We are excited to formally incorporate this innovative product into our portfolio
of sustainable solutions for the coatings industry," said Joseph Scaminace, Om Group's chairman and chief executive officer. "There is an ever-increasing need for environmentally friendly coatings, composites and inks throughout the world. [This] action will allow us to accelerate our ability to address this need and further solidify our leadership position in the growing coatings industry." LM
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