Bits corp

Yet another string to Gouldens’ corporate finance bow. The 36-partner firm made a reasonable appearance in The Lawyer IPO Survey 2000 of the London Stock Exchange (LSE) main list and techMARK, and also romped home in the Alternative Investment Market (AIM) Survey.

It has several key relationships with the investment banks servicing the main list, as well as with the nominated advisers to AIM, including Investec Henderson Crosthwaite and Collins Stewart. But as the Bits deal illustrates, the firm also acts for issuers, which can lead to potential ongoing work as the company uses its newfound capital to go on a spending spree.

Bits looks like it could lead to further, more profitable M&A work. A developer and publisher of software to the lucrative games market, it has signed agreements with Fox Interactive and Nintendo. It is a licensed developer for the likes of Sony PlayStation and Gameboy and it has signed an agreement to develop software for Microsoft’s console offering, the X-Box. No flaky business-to-consumer dotcom here then.