Global law firm Norton Rose Fulbright has advised an investee of an ICM managed fund, Allectus Capital, on the sale of Vix Verify Global, a leading provider of identity verification services, to London Stock Exchange listed GB Group plc (LON:GBG).
Vix Verify Global encompasses a number of leading brands in the identity and addressing software space including greenID and Mastersoft Harmony. Vix Verify Global’s clients in Australia and New Zealand look to them to help validate the identity of customers, confirm addresses and protect data.
GB Group plc announced the transaction to the market at the commencement of trade on the London Stock Exchange on 22 October 2018, reporting an acquisition price of $38.3 million.
The Norton Rose Fulbright team advised the vendor on all legal corporate, intellectual property, W&I insurance and pre-transaction restructuring.
Norton Rose Fulbright corporate partner Ben Smits commented:
"Identity verification and location intelligence continue to be major global issues and also differentiators for businesses large and small. It is no surprise that such a promising business was an attractive asset in this sub-sector. Full credit to both the Vix management team and Allectus on running a very intelligent and diligent process.”
The team was led by corporate partner Ben Smits and was supported by corporate associate Shanil Lal, intellectual property partner Georgina Hey and intellectual property senior associate Sophie Lees.