Client had two main businesses: Wireless Cards and “Internet of Things” Solutions. The wireless card business was a strong contributor to the client’s cash flow and profit; the IoT business had strong growth prospects and needed investment capital.
The correct strategic direction was to monetize the card business and invest the proceeds in the growth and optimization of the IoT business.
• Advised the client on the complex carve-out of the wireless card business and the cash sale of that business to a strategic cross-border buyer
• Advised the client on the likely market reaction to and acceptance of the resulting IoT “pure play” company, which had strong growth prospects
• Client emerged from the process as a “pure play” connected device company, providing integrated solutions for connectivity within the “Internet of Things”
• Funds from the sale of the wireless card division provided significant resources and capacity for accelerated growth in the retained business
• Since the announcement, the client’s shares have traded up to a high of more than 7x the pre-announcement price
JOIN OUR MAILING LIST
