The corporate team at Bristol-headquartered national law firm Burges Salmon has advised on the sale of a specialist UK education software developer in a cross-border deal.
Burges Salmon acted for NC Technology & Consultancy alongside accountants Mazars on the disposal of its two Cardiff-based subsidiaries LexAble and LexAble Services to Norwegian software firm Lingit.
Founded in 2007 by Neil Cottrell – who has dyslexia – LexAble has grown to become a leading provider of specialist education software, with a focus on dyslexia and mental health that embraces neurodiversity.
Its software, such as Global AutoCorrect, pictured, is used by schools, universities, blue-chip companies and charities globally.
The deal gives Trondheim-headquartered Lingit access to LexAble’s unique auto-correction software and is set to drive the expansion of its customer base in the UK.
Lingit has developed its own multilingual assistive software which helps students with a range of learning difficulties. It already has a strong foothold in the UK having acquired specialist dyslexia software firm Claro in 2018.
The Burges Salmon team advising on the deal was led by corporate partner Dominic Davis, pictured right, alongside senior associate Julie Book and solicitor Dan Wood.
LexAble managing director Neil Cottrell said: “We’re very much looking forward to working together with the Lingit team, and learning from each other as we continue to grow.
“I’ve been really impressed with the expertise and responsiveness of Dominic and his team at Burges Salmon. I’ve learned a lot about the merger and acquisition process from them because they took the time to explain things to me, drawing on their considerable experience in this area. And of course, they supported us to get an outcome that benefited all parties”.
Dominic Davis added: “We have thoroughly enjoyed working alongside Neil and the whole Mazars team; it was great to bring this deal to a successful conclusion for Neil after his years of hard work in growing the LexAble business.
“Despite the current market uncertainty, international appetite for successful UK companies remains strong, particularly in the tech space and this deal is a great example of strategic M&A being executed successfully.”
Financial details of the deal have not been disclosed.
It comes hot on the heels of the corporate team’s involvement in two deals last month.
It acted on a £165m fundraising for long-standing client ITM Power and a new commercial partnership for it with Italian energy infrastructure operator Snam.
The deal included the firm placing of £135m, a strategic investment of £30m from Snam and an open offer of up to £7m. The partnership with Snam includes work on polymer electrolyte membrane (PEM) electrolysis projects.
Sheffield-based ITM Power designs and manufactures products that generate hydrogen gas using only renewable electricity and tap water.
Corporate partner Rupert Weston, pictured, led the Burges Salmon team, which included partner Helen Scott-Lawler, associates Guy Francis and Bethan Penrhyn-Jones, and solicitors Nikoletta Zinonos, Tom Currie and Andrew Wilson.
The team also advised Swedish group Icomera, which provides on-board wi-fi for transport operators, on its acquisition of GoMedia Services, the London-based firm that supplies entertainment packages, including featuring films, for travellers on trains and coaches such as Eurostar.
That team a was led by partner Camilla Usher-Clark, pictured, with support from senior associate Alex Lloyd, associate Bethan Penrhyn-Jones and solicitor Nikoletta Zinonos.
