Keystone Law has advised the shareholders of World Programming Limited on the sale of their share capital to Nasdaq-listed Altair Engineering Inc. (Nasdaq: ALTR) for a combination of cash and shares consideration of up to US$100 million (approx. £75 million).
World Programming is a UK-based technology company specialising in data analytics software, which is used by many of the world’s leading companies. Its platform supports development and execution of multi-language software solutions leveraging popular languages used in data science, including Python, R, and the SAS language in a single program.
Altair is a global technology company based in the US, which provides software and cloud solutions in the areas of simulation, high-performance computing and artificial intelligence. It enables organisations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future.
The multi-disciplinary team at Keystone Law advising on this cross-border transaction was led by Intellectual Property partner Claire Blewett and Corporate partner Simon Holden, and supported by Intellectual Property partner Alexander Carter-Silk, Employment partner Keely Rushmore, associate Anatol Poyer-Sleeman and trainee solicitor Adam Tarr.
Oliver Robinson, Chief Executive Officer and the principal shareholder of World Programming, said:
“Claire Blewett has provided an outstanding service to World Programming for over twelve years, managing all aspects of highly complex contentious and non-contentions work involving intellectual property, contracts and, more recently, corporate work. All members of the Keystone team have been superb and have collaborated openly with numerous other law firms in the UK and abroad in supporting World Programming. Simon Holden went way above and beyond to get all the work done in time to close the deal with Altair. Thank you.”
Claire Blewett added:
“This was a time-intensive transaction, which involved certain complexities and sensitivities. Our team was alert to the challenges throughout and performed commendably. We were delighted to help our long-standing client and its fellow shareholders cross the finish line. We wish them every success as they start their journey as part of the Altair team.”
World Programming is a long-standing client of the firm. Partners Alexander Carter-Silk and Claire Blewett have been advising the company since 2009.