31 May 2013
Project Indigo deal report
At the end of May 2013, the B P Collins corporate and commercial practice group acted for the shareholders of ICCM Professional Services Limited (ICCM), in connection with the sale of the entire issued share capital in ICCM to OpenText Corporation (OpenText) for an undisclosed sum.
The transaction also involved a deferred consideration payment, the assignment of various IPR and the waiver of several loan note instruments. OpenText were advised by Allen & Overy.
ICCM is an information technology systems management company which provides a global client base with powerful solutions for IT Service Management, HR Shared Services, Intelligent BPM and other process applications.
OpenText produces and distributes Enterprise Information Management software solutions and has been a BPM technology partner of ICCM for over 10 years.
Jason Gardiner, former director and shareholder of ICCM, who was retained as an employee of OpenText following the sale, stated that “B P Collins brought a wealth of experience and knowledge to the process, and their dedication and commitment was greatly appreciated”.
The shareholders of ICCM were advised by our corporate and commercial partners Victoria Holland and Diane Yarrow. Diane Yarrow commented: "We are delighted to have been asked to assist the shareholders of Wiltshire based ICCM in the sale of their shares and the smooth transition from directors to employees".