Law firm Appleby has acted as Jersey counsel to SparkCognition Inc. in its acquisition of AIM2 from hedge fund management company Brevan Howard and global investment bank Nomura.
SparkCognition is a global artificial intelligence technology company headquartered in Austin Texas that builds AI technology solutions for industrial applications in a range of sectors including financial services and energy. They catalyze sustainable growth for their clients throughout the world with proven artificial intelligence systems, machine learning technology, and a multinational team of artificial intelligence (AI) thought-leaders.
AIM2is a financial technology company that is transforming market making and quantitative investment strategy with cutting-edge artificial intelligence products.
Appleby worked closely with onshore legal counsel in Texas, Latham & Watkins LLP, throughout the transaction. Appleby worked alongside their Appleby Global Services (AGS) colleagues to facilitate the acquisition structure, providing the client with a fully integrated legal and administrative service as part of the acquisition.
The Appleby team comprised Appleby Group Partner Mark Brady, Senior Associate Chris Smedley and Associate Stephen Parnell.
Speaking on the transaction Appleby Group Partner Mark Brady commented: “We think this transaction is indicative of the acceleration of digital transformation globally and of a theme within M&A which we expect to continue across a range of sectors, from financial services to energy & natural resources”.
Amir Husain, CEO of SparkCognition Inc. commented: “We are pleased to have engaged with Appleby on this acquisition, whose assistance proved instrumental to the completion of this transaction under tight timeframes”.
