Multi-discipline team delivers results in Critical Path Software sale to eBay
When eBay decided to enhance its mobile commerce capabilities by acquiring a mobile application developer, Tonkon Torp lawyers were there to assure the best possible deal for their longstanding client, Critical Path Software.
Founded in 1991, Portland, Oregon-based Critical Path develops mobile apps for iPhone and Android platforms. Its clients include eBay, StubHub, PayPal, Comcast, Time Warner, Weight Watchers and ClearWire. With a staff of 60 software engineers/architects and some tricky intellectual property issues, negotiating and structuring the transaction required sophisticated legal knowledge and experience in several areas.
Tonkon Torp's interdisciplinary team, including Gregory Powell, Mark LeRoux
, Michael Millender
, and Vicki Ballou, focused on tax, employment and intellectual property issues. Among other things, the firm negotiated a Stock Purchase Agreement reflecting the value of Critical Path's contribution to the development of mobile apps and e-commerce.
In its news release announcing the acquisition, eBay said, "We're very serious about innovating in mobile commerce, and this acquisition underscores our commitment to bringing the very best and brightest in the field to eBay." The deal closed December 15, 2010.
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