Deals - Lawyer Monthly

Kirkland Advises Commure on Acquisition of Augmedix

Joseph Finder — Fri, 19 Jul 2024 11:02:46 +0000

Kirkland provided counsel to Commure, Inc., a company in the General Catalyst portfolio, in finalizing a definitive agreement for the acquisition of Augmedix, Inc., a company specializing in ambient AI medical documentation and data solutions. Commure, Inc. intends to utilize the synergies resulting from the acquisition to further expand its presence in the healthcare technology sector. The acquisition was publicly disclosed on July 19, 2024, and is expected to be completed in late Q3 or early Q4, 2024.

The team was led by corporate partner Marshall Shaffer and associates Davi Sacco and George Colligan, with assistance from corporate partners Christian Atwood and Dave Gusella.

Augmedix, Inc. (Nasdaq: AUGX) has announced that it will be acquired by Commure, Inc. in an all-cash transaction valued at approximately $139 million. Under the terms of the agreement, Augmedix stockholders will receive $2.35 per share in cash, and Augmedix will become a wholly-owned subsidiary of Commure. This acquisition represents a premium of approximately 169% over the volume weighted average price of Augmedix’s common stock for the 30 days ending July 18, 2024.

Kirkland & Ellis LLP, based in Chicago, Illinois, is a prominent American multinational law firm. Established in 1909, Kirkland & Ellis holds the title of being the largest law firm globally in terms of revenue and the seventh-largest in terms of the number of attorneys. It made history as the first law firm to achieve an annual revenue of US$4 billion.

The sale of the TIM network to KKR

Lawyer Monthly — Thu, 18 Jul 2024 14:08:47 +0000

TIM has completed the sale of 100% of NetCo to Optics Bidco for a value of approximately 22 billion euros. Optics Bidco is a special purpose vehicle controlled by KKR and has issued 12 series of senior secured notes totalling 5.5 billion euros.

The Ministry of Economy and Finance considers this network a strategic asset for Italy leading to a 16% investment. This acquisition was completed with approval from the European Antitrust Authority.

Studio Legale BDL acted as advisor for KKR, on Italian Antitrust issues, throughout this acquisition alongside other firms such as, A&O Shearman and more to complete this transaction.

www.studiobdl.it

“The legal due diligence on the going concern sold by TIM required complex teamwork” said Mr. Maurizio Pinnarò; “Perfectly coordinated by KKR, which led all its advisors throughout this challenging transaction. The winning factor was the timeliness of interactions between the Buyer’s advisors”.

Freeland acquires Asenium

Courtney Evans — Wed, 10 Jul 2024 13:03:42 +0000

Founded in 2005 and with a turnover of €30m, Asenium is a major player in digital transformation worldwide. Asenium specialises in supporting major national and international clients in their digital transformation and is recognised for deploying freelancers skilled in ERP & CRM environments. They have developed their operations over 20 countries since the company’s creation.

The M&A (Aménis Bererhi, partner) and corporate (Emily Grimshaw, partner) teams at Ngo, Jung & Partners, supervised by Grégory Lévy, partner, advised it on its merger with Freeland, the French leader in services for the self-employed.

With this acquisition, the Group is consolidating its position, continuing the diversification and consolidation drive that began in 2019. With projected sales of €450 million in 2024, Freeland is strengthening its position in France and continuing its European and international expansion.

The strategic alliance with Asenium strengthens its added value through new skills and synergies with customers.