Fox Williams LLP has advised the shareholders of Universal Mobile Enterprises Limited (UME) and Moonlight Mobile Limited (Moonlight) in connection with the sale of both companies to CLIQ Digital AG (CLIQ). As part of a related joint venture arrangement, the shareholders signed an agreement for CLIQ to acquire 51% of a newly established entity which will run the existing business operations on behalf of UME and Moonlight and develop its own business operations. The founders of UME and Moonlight, Richard Keeley and Alex Rooke, will continue to manage the business operations of UME, Moonlight and the newly established entity post sale.
UME and Moonlight offer the global distribution of high quality digital media products and mobile entertainment services. CLIQ is a sales, marketing and payment platform for digital products with offices in Germany, France and the Netherlands and has been listed on the Frankfurt Stock Exchange since 2005.
Guy Morgan, as lead partner on the sale, led the advisory team and was assisted by senior associate Mary Elliot and associate Sarah Carlton (corporate), associate David Harford (employment), associate Mary Ince (property) and tax partner Emma Bailey with tax senior associate Shofiq Miah. DC Advisory provided sell-side M&A financial advice.
One of the founders of UME and Moonlight, Richard Keeley, said: “Guy Morgan and the rest of the Fox Williams team provided an absolutely first rate service. We received practical and clear cut advice and we greatly appreciate their help.”
Guy Morgan said: “We are very pleased to have advised Alex and Richard on the sale of UME and Moonlight to CLIQ. The new ownership structure will facilitate further growth, whilst allowing the founders to continue to run it on a day to day basis and fulfil their ambitious plans for expansion.”