Blake Lapthorn advises ATG Media on its acquisition of BidSpotter to create a global online auction business
Law firm Blake Lapthorn have advised ATG Media on its acquisition of US-based broadcaster of live auctions, BidSpotter.
The deal allows ATG Media to augment its current auction platforms, the-saleroom.com and i-bidder.com and will broaden the company's spectrum to include industrial auctions as well as live and timed art and antiques auctions. ATG Media is a London based business that is a global pioneer of auction portals and live and timed online auctions.
The company’s sites are leaders in their respective fields of fine art and antiques (the-saleroom.com), commercial auctions (i-bidder.com) and, with the acquisition of BidSpotter, industrial auctions (BidSpotter.com and BidSpotter.co.uk). ATG Media is also the UK's leading provider of specialist information and print services to the fine art and antiques industry, publishing the industry bible The Antiques Trade Gazette.
Blake Lapthorn is the English law advisor to ATG Media. The US law advisor to ATG Media is Perkins Coie, Seattle.
Funding for the deal was provided by ATG Media Holdings’ existing investors, Mobeus Equity Partners, who made a further investment of £4.5 million to assist in the acquisition.
ATG Media have over 13 years’ experience in the online auction arena and a long-standing relationship with BidSpotter. ATG have hosted and managed BidSpotter.co.uk for more than three years.
ATG media CEO Anne Somers said: “BidSpotter Inc directly complements our existing auction sites and this marks an important step in ATG Media’s evolution. With bases in the USA and UK we will be become truly international and better able to serve both buyers and sellers in the global auction market.
“We already have a longstanding relationship with BidSpotter, having run their UK website BidSpotter.co.uk for over three years, so we are delighted to be able to bring the US site BidSpotter.com under the same management.”
Blake Lapthorn client partner Simon Stokes said: “We have enjoyed working with ATG Media since 2000 as it has developed its online businesses. The Blake Lapthorn deal team led by London head of Corporate Martin Kay is delighted to have been able to support our client in achieving this strategic acquisition.”