Gibson Dunn & Crutcher represents Laird PLC

Gibson Dunn & Crutcher advised Laird PLC on its EUR65 million acquisition of Novero, an integrated connectivity systems provider from Donares Limited. The deal will enhance Laird’s offering of innovative wireless solutions in one of its core and fastest growing markets. Novero represents an excellent strategic fit and is complementary to Laird's existing connected vehicle activities. This is in line with Laird's strategy to invest significantly in Enterprise Internet of Things (EIoT) markets. This acquisition will place Laird as one of the leading global providers of end‐to‐end connectivity services both into and within the vehicle, providing the broadest portfolio of integrated connectivity solutions.

Laird will acquire Novero for a total consideration of EUR65 million from Donares Limited. Consideration will be satisfied through the issue of 3.2 million shares in Laird to the vendors of Novero, valued at EUR15.5 million as at the close of business on December 15, 2015 and representing approximately 1.2 per cent of Laird's enlarged share capital. The balance of the consideration will be paid in cash from Laird's existing bank facilities. Completion of the acquisition is conditional upon receiving standard regulatory approvals, which was expected within 30 days

The Gibson Dunn corporate team is led by London partner Jonathan Earle, and includes Munich partner Lutz English and associates Amar Madhani and Hubertus Schroeder. London partner Nick Aleksander is advising on the tax aspects and Munich partners Kai Gesing and Jens Murach are advising on the EU and German antitrust matters.