Wright Hassall advises on £5.2m deal
Who?
Midlands law firm Wright Hassall of Leamington Spa.
Did what?
Has advised Cobent on its sale to AIM-listed Access Intelligence for £5.2m.
What does this mean?
Cobent, an Oxfordshire-based company that specialises in training and compliance software, will now become part of the Access group. All of Cobent’s staff were retained under the deal, which was made up of £3.2m cash and Access Intelligence shares. Cobent’s chief executive, Howard Sears, has also become a director of Access Intelligence.
Insider comment:
The deal was funded by an equity placing of £3m.
Tim Goodman, senior corporate lawyer at Wright Hassall, said: “Both the mergers and acquisitions market and AIM are recovering from a very difficult period, and it is good to see the purchase of a profitable, high growth software company by an acquisitive AIM company through equity funding.”
