International law firm CMS, as co-lead counsel alongside eminent US firm Paul, Weiss, Rifkind, Wharton & Garrison LLP, has advised HP Inc. on its $1.05bn acquisition of Samsung Electronics Co., Ltd.’s global printer business.
As part of the transaction, CMS advised on the transfer of technology and related assets from local Samsung to local HP entities in 45 jurisdictions across six continents. HP’s acquisition of Samsung’s printer business included over 6,500 print patents and 1,300 laser printing researchers and engineers with expertise in laser technology, imaging electronics, supplies and accessories.
CMS was also able to offer HP the innovative usage of automated software, Kira, for large scale document review, adding a layer of quality control and increased efficiency. As part of the document review, CMS reviewed approximately 2,500 contracts in 22 languages, aided by its expansive global platform.
The CMS core team was led by Global Head of TMT Chris Watson, Technology Partner Paul Silver and Associate Adam Beach, with support from Katia Ramo (Technology), Stuart Blythe, Nick Kuria and Joe Ladusans (Corporate), Anthony Fincham and Pranav Yajnik (Employment), Richard Croker and Richard Taylor (Tax), and Olivia Jamison and Valentina Keys (Environment). Among the 45 jurisdictions involved, the CMS team in London were supported by CMS offices in Austria, Belgium, Chile, Czech Republic, France, Germany, Hungary, Italy, Mexico, Morocco, Netherlands, Peru, Poland, Portugal, Romania, Spain, Switzerland, Turkey and UAE.
Chris Watson comments: “We are thrilled to have supported HP on the successful completion of this significant and strategically important deal. Our global platform and in-depth understanding of the technology sector was viewed particularly favourably by HP in aiding the transfer of the complex technology from Samsung to HP. Moreover, the use of Kira ensured the Contract Review was as efficient and cost-effective as possible for our client.”