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Goodman Derrick advises OMG plc on its sale of intelligence imagery division 2d3 to Boeing
Goodman Derrick has advised OMG plc in relation to the sale of its 2d3 division to Insitu Inc, a subsidiary of The Boeing Company, for a cash consideration of US$25 million.
OMG plc is a technology group providing image understanding products for the entertainment, defence, life science, engineering and consumer electronics markets. Its 2d3 defence software division is focused on processing, exploiting and disseminating intelligence imagery.
At the same time as announcing the successful conclusion of the transaction, OMG plc has also announced a special dividend of 4.5p per share to be paid to shareholders.
Goodman Derrick worked alongside OMG plc’s US legal advisers, Payne and Fears, in the successful conclusion of the cross-border transaction.
OMG plc director Cathy Robertson commented: “This was a significant transaction in the development of the OMG group, and we were delighted to work again with the team at Goodman Derrick.”
Paul Webb, who led the Goodman Derrick team including Rebecca Gardner (Corporate) and Jane Innes (Tax), commented: “We were delighted to support OMG plc on the 2d3 sale. The successful growth of our technology practice is reflected in our involvement on deals such as this, and our continuing representation of funds, companies and entrepreneurs in the sector.”
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