Michelmores has advised its client, Deko – the leading retail finance platform, on its acquisition of Imegamedia – the retail technology services provider. The deal sees Deko take ownership of Imegamedia Services Ltd. and TrueInnovation Ltd. which focus on retail finance technology, processing c. £400m worth of new lending requests each year. The acquisition will enable Deko, which launched in 2010, to expand its service lines, unlocking faster lending options to its end users via a more seamless integration experience for its partners.
Scott Law, Chairman of Deko said:
‘It was reassuring to be able to draw on Michelmores’ financial services and technology sector expertise to help with this great deal for Deko, its partners and their customers. Michelmores has helped us to develop Deko from the start over 10 years ago and provided a reliable source of commercial legal advice throughout.’
Richard Cobb, Senior Partner and Head of Corporate at Michelmores said:
‘Congratulations to Scott and his team on this exciting acquisition. We have acted for Deko since its inception, but this is our first deal since helping the shareholders on their recent NewDay transaction. We look forward to supporting the enlarged team on the next step of their journey.’
Throughout the deal, Richard Cobb led a multi-disciplined team with support from Partner, Tom Torkar who specialises in technology & innovation, and Senior Associate, Rachael Lloyd who advised on specifics relating to employment law.