Penningtons Manches Cooper’s corporate team has advised Netalogue Technologies plc, a software company quoted on the NEX Exchange Growth Market, on its recommended takeover by TrueCommerce Holdings. The deal was led by partners Seb Orton, a public company specialist, and Matt Martin, head of the firm’s corporate practice.
Netalogue develops, sells and supports an advanced B2B ecommerce platform product. TrueCommerce Holdings.a global provider of trading partner connectivity and integration solutions. The offer price valued Netalogue at £5.7 million and represented a premium of 151.7 per cent to the price of a Netalogue share on the day prior to the offer being announced.
TrueCommerce is a subsidiary of Accellos Holdings LLC which is is owned by various Accel-KKR Funds and certain management executives of Accellos Holdings.
Andrew Robathan, CEO of Netalogue commented: "We are very excited about the opportunity to join forces with TrueCommerce and have been grateful for the legal support from Seb, Matt and the Penningtons Manches Cooper team on the transaction."
Seb Orton commented: “We were delighted to work with Andrew and the wider team on this deal. Netalogue is a really strong business with a great product offering and can look forward to an exciting new future as part of TrueCommerce Holdings.”