11 Sep 2018

Helping Veea Inc. acquire Virtuosys and its innovative edge computing platform

Our client’s journey

Taylor Vinters has supported a US-based smart applications leader in its acquisition of a UK business with valuable and complementary groundbreaking technology.

Veea Inc., the US-based global leader in smart Platform-as-a-Service (PaaS) solutions, wanted to acquire Virtuosys Ltd, which has its headquarters in Bath, UK. It was an ideal match, as the two companies had been collaborating for some time on Internet of Things (IoT) devices, gateways and smart applications. Veea especially wanted to integrate the Virtuosys Managed Edge Application Platform with its own product offering.

Our global, multi-jurisdictional response

Whilst the acquisition was entirely logical, particular issues which needed considering were the different stances taken initially by the US buyers and the UK sellers to certain aspects of the negotiations (as is typical in those two jurisdictions) and that the Virtuosys shareholders were being offered an all-paper deal for shares in Veea Inc., rather than cash.

Following a referral from another satisfied US customer, Veea Inc. appointed Taylor Vinters to handle their acquisition of Virtuosys. A team from our Corporate team, headed by Adam Bradley and Beale Stronach.

Our reputation for working with innovators and tech businesses made us the ideal choice for Veea. We specialise at handling transactions where Intellectual Property is a key aspect and documents have to be structured accordingly. Our team is also highly experienced in multi-jurisdictional negotiations, and we can call on our global network for extra support in local markets.

Making great things happen

Veea Inc. has achieved its objective of securing Virtuosys as a wholly owned subsidiary. With Virtuosys’ intelligent server technology now an integral part of their offering, Veea can rapidly expand its Veea Hub platform to profit from the full potential of the IoT, estimated to encompass 31 billion connected things worldwide by 2020. We are continuing to act for Veea on this and other exciting new projects.

About our corporate team

The team provide the expertise and impetus to secure your merger, acquisition, sale or fundraising, whether your focus is in the UK or international. Deals such as the one we concluded for Veea prove we are adept at managing complex negotiations rapidly and decisively. To discover how our pragmatic, proven approach could work for your business, talk to Adam Bradley or Beale Stronach.