Business & Economy
Weightmans advise on major technology acquisition
June 4, 2020
The Newcastle office of law firm Weightmans has advised London technology company, Pixology Limited, on its acquisition by multinational cloud computing giant, Oracle Corporation.
Paul Wigham and Kirsty Adamson, based at the firm’s St James’ Gate office in Newcastle, advised on the transaction, which saw the Pixology’s founder Adam Theobald and remaining shareholders exit the business for an undisclosed sum.
Pixology is the developer of Sauce Video, a cloud-based content creation platform that allows companies to collaborate with their employees and customers on digital video content.
It has worked with some of the world’s biggest brands, including Accenture, Network Rail and Hewlett Packard Enterprise.
Paul Wigham, partner at Weightmans LLP in Newcastle, said: “Pixology is a great example of a fast-growing business with a compelling technology platform attracting an overseas buyer eager to tap into the UK’s credentials as a leading centre for innovation and new technology.
“As a law firm with offices across the UK, we are well-placed to help early stage companies achieve their ambitions.
“Adam and his team have done an amazing job growing the business, and we can expect the use of their market-leading solution to increase rapidly as a part of Oracle.”
Adam Theobald, founder of Pixology, added: “The team at Weightmans were an invaluable source of advice and support throughout the entire sale process.
“With Paul and Kirsty’s guidance, we are able to take our existing working relationship with Oracle to the next level and secure a bright future for our employees and the solution we’d worked hard to build.”