Allen & Overy (A&O) is about to complete its first deal for new US client Ciber Inc. The firm is advising the Colorado-based company on a recommended cash offer to take over ECsoft Group for £34m.
Corporate partner Richard Hough, who led the deal, said that A&O was recommended to Ciber by one of the firm's existing European clients.
New York Stock Exchange-listed Ciber is an international systems integration consultancy to both the private and government sectors. The company operates across the US and in Germany, Hungary, the Netherlands and the UK, with an annual turnover of around $600m (£372.8m).
The offer to take over ECsoft is being made through Ciber (UK) Limited, a wholly-owned subsidiary of Ciber. Ciber UK will pay 305 pence per share for London Stock Exchange-listed ECsoft. Hough said that the offer represents an 82 per cent premium of the market price of ECsoft's shares.
ECsoft was advised by Shaw Pittman, while Ashurst Morris Crisp acted for Ciber's financial adviser NM Rothschild & Sons.