Deal highlight
NEC SOFTWARE SOLUTIONS UK LIMITED
A multi-disciplinary team from RSM advised NEC Software Solutions UK Limited (NEC) on the sale of public safety and control room software business, Eagle NewCo Limited, to Codan Radio Communications Pty Limited (Codan).
The client
Headquartered in Japan, NEC Corporation is a multinational IT, software, and electronics company with c.£17bn global revenue. Eagle, a carve-out from NEC’s UK operations, is a leading provider of mission critical control room communication and workforce management solutions.
Our offering
Having worked with NEC previously, our M&A team were engaged as lead advisers to assist NEC in finding the right home for the assets within a tight timescale of six months. Ahead of the selling process, the businesses were fully integrated into NEC, and they needed significant tax advice on how to carve out the relevant assets.
The M&A team led the multi-layered competitive market process from creating the information memorandum’s, organising management presentations, undertaking research, and negotiating offers, to finally securing the ultimate buyer, Codan.
To help secure the buyer, our transaction services team conducted a complex vendor due diligence (VDD) exercise and produced a VDD report on Project Eagle. This ensured a swifter and more manageable due diligence process for their buyers.
The team
The M&A deal team led by Clodagh Tunney was Lucy Roberts, Jane Dunn, Bradley Logan, Austin Halewood, Tom Williams, and Matthew Beck.
The transaction services team was Lee Castledine, Jacob Moore, Riam Mistry and Isobel Stewart.
Tax support from Andrew Gordon, Nigel Gleaden and Geraint Powell.
Accounts support from Laura Tomlinson.
What did the client say
‘We are grateful to RSM for their unwavering support throughout this process. Their global network and knowledge of the software market has allowed us to find a great home for our colleagues at Eagle. We could not have achieved such a great result without them.’
Steve Ainsworth, Executive Director for Public Safety NEC