Wallace advises US Client Infiniscene Inc on its Sale to Vitec Group
Wallace advises US Client Infiniscene Inc on its Sale to Vitec Group
The Wallace Corporate team is delighted to have advised Infiniscene Inc and its shareholders on the successful sale of the company to the US subsidiary of Vitec Group, a UK London Stock Exchange listed company.
Infiniscene, which trades as Lightstream, is a US-based technology company that provides a cloud-based video production and editing Software-as-a-Service (“SaaS”) platform which enables content creators to enrich their live video streams. Lightstream is a world leader in live streaming technology for the fast-growing gaming market and has strong strategic partnerships and technology integrations with the leading streaming and gaming platforms, including with Microsoft’s Xbox and Amazon’s Twitch.
This acquisition is driven by Vitec’s long-standing strategy to increase its higher technology capabilities and expand its addressable markets. Live streaming across all industries has grown exponentially during the pandemic and it has become a significant growth opportunity for the Group.
Lightstream will become part of Vitec’s Creative Solutions Division. The business has 22 employees, the majority of whom are highly skilled software engineers. The four co-founders of Infiniscene, including the CEO Stu Grubbs, will also join Vitec.
David Judah led the Wallace team, working with Jim Jerue, Kate Kanabay and the corporate team at Chicago based, Law Firm Alliance member HMB Legal Counsel on the deal, which completed in April.
Stu Grubbs, CEO & Co-Founder, Lightstream commented:
“David provided valuable insight and guidance on deal structure and the regulatory aspects of our US shareholders receiving equity interests in Vitec’s UK company. His responsiveness and expertise brought us understanding and confidence in an area where we were otherwise unfamiliar.”