TMT deals round-up

Masons (Angela Cha) advised insurance company Aviva on the £225m outsourcing of its document services to business process outsourcing provider Williams Lea. Nicholson Graham & Jones (Howard Kleiman) advised Williams Lea.

Herbert Smith advised UBS as sole global coordinator, bookrunner, financial adviser and sponsor on the global offer of shares in Phoenix IT Group. When Phoenix began conditional trading on London’s main market, it marked the first initial public offering of an IT services company in the UK for more than two years. The Herbert Smith team was led by corporate partner Greg Mulley.

TLT Solicitors (Robin Staunton, Jessica Bent) advised Parragon Publishing on its appointment by Disney as the US company’s chief UK publishing partner. Parragon will produce, distribute and sell Disney’s books in the UK.

Beachcroft Wansbroughs (Matthew Darling, John Singh) advised UK-based IT company Matrix Communications Group on its £12m acquisition of telecoms services provider Network Partners, which was advised by Cuff Roberts Solicitors (Sue Russell).

Gray’s Inn Tax Chambers (Patrick Way) advised Andre Agassi and his UK accountants Tenon Media on an important Court of Appeal victory. The Inland Revenue had tried to extend its domestic holding tax legislation to non-UK residents, a position that the Court of Appeal rejected.

DLA (John McKinlay, Simon Rae) acted in Edinburgh for MTEM, which is thought to be Scotland’s largest university spin-out and the second-largest ever in the UK, and which raised £7.4m in first-round funding. The company, which has developed a revolutionary method for detecting oil and gas, was spun out of Edinburgh University.