Monday 28 October 2019
Maddocks has advised ASX-listed global video technology company Atomos Limited on its acquisition of UK-based Timecode Systems.
Atomos will purchase 100% of Timecode Systems, which develops unique and patented IP for wireless synchronisation of audio and video devices for use across professional and consumer markets. The acquisition will integrate Timecode’s technology with the Atomos product range. Concurrently, Atomos successfully raised $22.56 million via a two-tranche institutional placement of shares with the proceeds to be used to fund the acquisition and to provide Atomos with growth capital.
This is the latest transaction in Maddocks’ long-term relationship with Atomos, and marks another milestone in a period of significant growth for the company. Maddocks advised Atomos and its founders pre-float, and advised on Atomos’ initial public offering and ASX listing in 2018.
The Maddocks Corporate team advising on the acquisition was led by partner Damien Wurzel, with assistance from senior associate Steven Tang, associate Alex Musgrove and lawyers Jack Coventry and Cassandra Charlaftis. Partner Catherine Merity and special counsel Rosa Sayer, from Maddocks Equity Capital Markets team advised on the capital raising.
Maddocks was assisted with local law requirements and due diligence by UK law firm Osborne Clarke. Henslow was corporate advisor on the transaction, while Deloitte (Australia and UK) advised on financial and tax matters and Morgans Corporate were the lead manager to the placement.
Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the built environment, education, government, healthcare and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.
For more information:
Tel: 3 9258 3509
Mobile: 0407 618 058