Olswang's leading corporate technology team helps Parity Group Plc ("Parity") acquire Inition Limited ("Inition"), a leading-edge 3D technology business based in Shoreditch, London. The acquisition is valued at up to £3.25 million with the consideration satisfied in a mixture of cash and shares of, London Stock Exchange listed, Parity.
The acquisition enhances Parity's emerging technology capabilities and is the first step in implementing its stated strategy to move into the expanding digital media market.
Founded in 2001, Inition is a leading independent 3D technology consultant, systems integrator and equipment provider with particular skills in 3D printing, stereoscopic 3D video production and cutting edge, interactive 3D and augmented reality (AR) projects.
Working with experts from across the firm, Olswang's integrated corporate, technology and tax specialists helped Parity navigate through all aspects of the transaction. As a leading technology, media and telecoms firm, Olswang's team understood the complexities of the deal and the groundbreaking technology.
Parity CEO, Paul Davies, said: "We are delighted to bring this well-known Shoreditch based centre for the latest 3D technology into our Group. Inition will significantly strengthen our emerging technology skill base and market position. Thanks to the hard work and commercial focus of the Olswang team we were able to complete the acquisition to our deadline."
Corporate Partner Paul Guite, who led the Olswang team, comments: "There is huge growth potential for innovation in 3D and augmented reality projects. It is cutting edge technology and we were delighted to use our expertise to support Parity Group in completing the acquisition and look forward to their leveraging the commercial opportunities Inition will bring to their business."
The Olswang team was led by Corporate partner Paul Guite, assisted by Lauren DeMarco and Sarah Reader (corporate), Dominic Dryden, Simon Bernholt and Andrew Crank (commercial technology), Lisa Cooke (tax) and Stephen Baker (real estate) and other members of the firm.
For more information or to set up an interview please contact:
Media & Communications Manager
020 7067 3009
Media & Communications Officer
020 7067 3069
Notes to editors
Olswang LLP is one of Europe's leading law firms in the areas of technology, media, telecommunications and real estate. The firm comprises of nearly 700 people including 100 partners, across seven European offices. Olswang is part of a 'best friends' network of leading independent law firms throughout the world.
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