Mills & Reeve has advised London Stock Exchange-listed Sepura on its acquisition of Portalify, a Helsinki-based software solutions developer.
Initial cash consideration of €1m (£860,000) was paid on completion and contingent consideration of up to €6m will be payable in cash if Portalify achieves revenue and operating profit targets over the three years to 30 June 2016.
Sepura designs, manufactures and supplies TETRA digital radios, infrastructure and applications used in the public safety, transportation, oil and gas, mining, utilities, industrial and other commercial sectors.
The Mills & Reeve team was led by corporate finance partner and capital markets specialist Stephen Hamilton with assistance from associate Richard Lobban and senior solicitor Jonathan Greenwood. Partner Ian Mather provided employment advice.