DMH Stallard has advised Espial Group Inc. ("Espial") in relation to its acquisition of AIM-listed ANT plc ("ANT"), which was made through a takeover offer effected by way of a scheme of arrangement under the Companies Act 2006. At a price of 20.5 pence per ANT share, ANT was valued, for the purposes of the transaction, at £4.979 million.
Espial, whose shares are listed on the Toronto Stock Exchange, is a leading provider of TV Browser and TV Everywhere software solutions to consumer electronics manufacturers and telecommunications service providers. Based in Cambridge, ANT is similarly a leading provider of software solutions and services to TV device vendors, broadcasters and operators.
The acquisition was announced on 30 November 2012 and, following approval by ANT shareholders and sanction by the High Court of Justice, the scheme of arrangement became effective on 4 February 2013.
DMH Stallard's deal team, led by Jonathan Deverill, included Chris Simmons and Ben Gale. Espial was also advised on the acquisition by its Canadian counsel, Randy Taylor of LaBarge Weinstein, Ottawa.
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