RSM UK advises NEC Software Solutions on carve-out deal
The deal was led by RSM’s M&A team, with support from its due diligence team who carried out a complex vendor due diligence exercise
RSM UK has advised NEC Software Solutions on its divestiture of public safety and control room software business, Eagle NewCo Limited, to Codan Radio Communications Pty Limited.
Headquartered in Japan, NEC Corporation is a multinational IT, software and electronics company with around £17bn global revenue.
Eagle, a carve-out from NEC’s UK operations, is a leading provider of mission critical control room communication and workforce management solutions.
It supplies over 100 emergency services and transport customers across the United Kingdom, Europe and the Middle East.
Codan is a global leader in software solutions, with operations across Australia, North America, Europe, the Middle East, Africa and Latin America.
The purchase of NEC’s assets is expected to complement Codan’s core public safety market and its recent acquisition of Zetron Inc,
The deal was led by RSM’s M&A team, with support from its due diligence team who carried out a complex vendor due diligence exercise.
Clodagh Tunney, corporate finance partner at RSM UK, said: “We are delighted to have supported NEC on this transaction, which has brought together two closely aligned businesses, each with a strong reputation in the public safety and emergency response sector. It was a pleasure to work with NEC throughout the process and we are looking forward to seeing Eagle continue to fly under its new ownership.”
Steve Ainsworth, executive director for Public Safety at NEC, added: “We are grateful to RSM for their unwavering support throughout this entire process. Their global network and knowledge of the software market has allowed us to find a great home for our colleagues at Eagle. We couldn’t have achieved such a great result without them.”
