Thomson Geer advised software investor, Banyan Software on their acquisition of software solutions provider, FutureNet Pty Ltd.
Banyan acquired FutureNet through their related entity, Future Net Australia Pty Ltd. FutureNet is a software company that provides comprehensive Point-of-Sale solutions to a range of Australian independent grocery retailers.
Thomson Geer advised the Buyer on all aspects of the transaction including: negotiating and drafting the Business Sale and Purchase Agreement and ancillary documents; preparing and negotiating Deeds of Assignment of IP; preparing and negotiating new leases; preparing and negotiating new employment and consultancy agreements; and assisting with and managing legal aspects of Completion.
This acquisition builds on Banyan's strategy of acquiring and growing enterprise software businesses. The acquisition also allows Banyan to expand into the niche grocery retail market in Australia.
The Thomson Geer team was led by Partner Loretta Reynolds, and supported by Partner Matthew Prescott, Senior Associate Hugo MacMillan, and Associate Hugo Chapman.