TLT team advises French software group Sword on major cross-border disposal

September 25, 2012

Lawyers from Bristol’s TLT have advised international services and software company Sword Group on the 20m euro (£16m) disposal of its specialist software developer subsidiary Ciboodle  – a project that involved legal work across 12 jurisdictions.

TLT co-ordinated the deal for Sword, including liaising with major American firm Mayer Brown on US law, the governing law for the share purchase.

The TLT team included tax specialist partner Nathan Williams, partner and head of employee incentives Ben Watson and solicitor Lizzie Stone, employment associate Richard Brennan as well as Ben Tarrant, associate in the commercial property team.

TLT has advised French multinational Sword, which is listed on the French CAC stock market, for more than 10 years on a variety of software supply and related issues including its acquisition of Ciboodle in 2007.

Most recently it advised on software, other IP (intellectual property), and transitional services issues in the disposal of Sword’s UK-based CTSpace business to London group Idox. TLT also led on the corporate aspects of the deal.

TLT corporate specialist and partner Richard Tall, pictured, said: "This deal was a truly international one. Sword Group appointed TLT because of our expertise and capability to deliver cross-border transactions for our clients and that we are able to move quickly to meet client needs.”

TLT's corporate team acts for a raft of UK and international clients from FTSE-listed plcs through to venture capitalists, banks and other financial institutions.

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