This is the fourth reverse take-over on the Alternative Investment Market (AIM) for SJ Berwin since April, with the downside that it has lost its client to Sinclair Roche & Temperley in the process.
The firm has acted for Multimedia Corporation since its AIM flotation in 1995, when it was a multimedia software company, and this is the biggest deal Multimedia has done since then.
After trading problems the corporation sold off assets to become a shell company. The merger with technology investment house Illuminator, by way of a £20m acquisition of its entire share capital, together with an associated placing of £5m, puts the internet and technology investment house on AIM without having to go through a full listing.
Multimedia Corporation will change its name to Illuminator. Illuminator was advised by Sinclair Roche & Temperley corporate partner Kevin Dean, and it is likely that the firm will continue to get the merged company's business.