Mishcon de Reya has advised European managed services provider, Easynet, on its acquisition by Interoute, the owner-operator of one of Europe's largest networks and global cloud services platform. The transaction, subject to certain customary closing conditions, places an enterprise value of £402 million on Easynet.
This acquisition will expand the merged group's networked cloud and communications services to national and multinational enterprises across the world.
Easynet, in its current form, is a product of the 2013 merger (backed by Equistone Partners, Europe Limited) between MDNX and Easynet, where MDNX acquired the entire issued share capital of Easynet from LDC.
Mark Thomson, CEO of Easynet, commented: "I believe this acquisition will bring great benefits to both Interoute's and Easynet’s customers. The combined companies can offer broader and deeper connectivity options, as well as an expanded portfolio of products and services, and the acquisition will further expand an already market-leading cloud hosting capability in Europe."
The Mishcon de Reya team was led by Corporate Partner Michael Nouril and Corporate Solicitors Sam Perkins and James Spencer. Tax advice was provided by Partner John Skoulding and Solicitor Bella Weston-Baker. Employment advice was provided by Associate Margarita Elia and Solicitor Mark Stroud. Property advice was provided by Partner John England and Associate Kirpal Kaur with assistance from Trainee Clare Freshwater. Competition advice was provided by Partner Andrij Jurkiw and Consultant Kiran Sandford advised on intellectual property matters.
Michael Nouril commented: "Our work on this transaction showcases our cross departmental capabilities and we are delighted to have advised the management team at Easynet on such a significant deal in the telecommunications space. They have been a pleasure to work with."