Maddocks advises Atomos on key UK acquisition
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.
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