Overview
McDermott Will & Emery has advised ESI Group, a French software company, on the acquisition by Keysight Technologies, a California-based manufacturer of electronic equipment, of a controlling interest in ESI Group, followed by a public tender offer.
Keysight has submitted a binding offer to acquire a controlling stake in ESI Group, to be followed by Keysight’s mandatory tender offer for the remaining shares issued by ESI Group.
The acquisition values 100% of ESI Group’s issued and to-be-issued capital at around EUR 913 million on a fully diluted basis.
Completion of the acquisition of the controlling interest is expected in the fourth quarter of 2023, with the filing of the subsequent offer to follow shortly thereafter.
Keysight intends to accelerate its strategy of providing software-centric solutions with virtual prototyping and advanced simulation capabilities.
The McDermott team advising ESI Group comprised:
- Nicolas Lafont, Edouard Baladès, Luana Bijaoui and Henri Nalbandyan on the corporate aspects of the transaction
- Frédéric Pradelles and Nabil Lakhal on the competition aspects
- Abdel Abdellah on labor law aspects
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