TLT has advised Smart Transactions Group Limited, a UK leader in digital payments and ticketing, on the multimillion pound sale of its subsidiary, Applied Card Technology Limited, a leading UK smart travel ticketing provider based in Chippenham to Fujitsu.
The TLT team included corporate partner, Andrew Webber; partner and head of Technology, Media & Telecoms, James Touzel; corporate associate, James Webb; commercial associate, Dan Read; employment legal director, Harry Parker; real estate associate, Philip Collis; commercial solicitor, Ruth Fisher and tax solicitor, Natalie Stoter.
TLT’s Andrew Webber said: "This deal enables our client to focus solely on its sQuid digital transaction business in the UK and Africa, helping them implement the next stage of their ambitious growth plans. It also provides a great opportunity to ACT to combine its next generation digital ticketing and payments solutions, with Fujitsu's global innovation portfolio to provide the foundations for further expansion. We are delighted to have worked on this deal and wish both companies every success on their growth plans."
John Holland, Director of Smart Transactions Group said: "This divestment was significant for our Group and required legal support across a wide range of areas including Finance, Tax, Real Estate, Technology and Intellectual Property. TLT brought together a professional and focused team of specialists that complemented well both our Financial Advisor’s and our team. We appreciated their support in bringing a successful and satisfactory conclusion to the transaction."