Leading law firm Blake Morgan has advised IT-as-a-Service (ITaaS) transformation consultancy, Virtual Clarity, on their sale to DXC Technology Co (NYSE: DXC).
Founded in 2008, Virtual Clarity has a decade of experience in solving large scale IT modernization and application migration challenges for clients in the world’s most demanding environments including Financial Services, Health Care, Manufacturing, and Telecommunications.
The acquisition of Virtual Clarity positions DXC as a leading provider of IT modernisation services and follows their initial investment in the business in 2017. In the latest deal, DXC has acquired the outstanding shares of Virtual Clarity in a strategic move to enhance their capabilities in cloud platforms – helping their clients along their digital transformation journey.
The corporate team at Blake Morgan has a long standing relationship with Virtual Clarity and advised on their initial sale of shares to DXC. The latest deal was completed within a very tight timescale of 19 business days and drew on expertise from across the firm to get the deal over the line by the ambitious deadline.
Commenting on the transaction, corporate partner Lawrence Phillips, said: “Blake Morgan are delighted to have advised on this important deal. Steve and his team have built a great business. It is deeply satisfying to have seen Virtual Clarity go from start up to sale and to have supported and advised Steve and his team at key stages during that time.”
Steve Peskin, CEO and founder of Virtual Clarity said: “This is an exciting time as we join DXC and it wouldn’t have been possible without the expert advice from the team at Blake Morgan. Their commercial and pragmatic approach helped us to complete the sale to a tight timescale. It was an enormous task pulled off with good humour and clear advice.”
Blake Morgan’s award-winning team of corporate lawyers are recognised as leaders in their field advising on cross-border and domestic mergers, acquisitions and disposals, joint ventures and private equity backed transactions. They advise boards and in-house counsel of major corporates as well as the owners and managers of small and medium-sized businesses.