FSP Advises ASX Listed Codan on the Expansion of its Zetron Communication Business into the United Kingdom, Europe and the Middle East Through the Acquisition of Eagle
Field Seymour Parkes has advised The Codan Group (Codan) on the acquisition of Eagle NewCo Limited (Eagle) – a UK command and control solutions business – from NEC Software Solutions UK Limited (NEC) for approximately A$22 million.
Eagle, a carve out from NEC’s UK operations, is a leading software supplier to the emergency services, public safety and control room markets. Eagle provides mission critical control room communication and workforce management solutions to over 100 emergency services and transport customers across the United Kingdom, Europe and the Middle East. Eagle’s solutions are currently used by more than two‐thirds of police forces in the United Kingdom, as well as by major transportation hubs and airports (including Dubai International airport) and the London Underground.
This acquisition is consistent with Codan’s inorganic growth strategy to acquire technology and capability through complementary acquisitions that accelerate growth, with this acquisition focussed on its core public safety market segment. Eagle will be integrated into Codan’s Zetron business and will significantly strengthen Zetron’s presence in the UK public safety market and provides a platform to further expand Zetron’s business across Europe and the Middle East. Importantly, Eagle is a supplier to the UK Home Office on the Emergency Services Network (ESN)1 transition project and positions Zetron to capture market opportunities arising from this transition.
Eagle’s Cortex, Aspire, Call Touch, Connect and Stream solutions are highly complementary and align especially well with Zetron’s core command and control technology portfolio. Offering immediately relevant and broader customer capabilities, Eagle’s solutions will accelerate Zetron’s next generation dispatch and emergency call taking development strategy and create new addressable market opportunities across our EMEA, APAC and North American public safety and transportation markets.
Scott French, Zetron President and Executive General Manager, said:
“This acquisition is an opportunity to bring together two companies with extraordinarily similar values and market pedigrees, each with unwavering commitments to innovation, service and customer choice. The acquired technologies immediately widen our core capabilities and also provide new international growth opportunities across public safety and transportation. We are excited to welcome the Eagle team to Zetron and look forward to the expansion and continued development of our operational footprint in the UK.”
Daniel Widera, Codan General Counsel and Joint Company Secretary, said
“Penelope and the team at FSP once again did a magnificent job advising us, providing responsive, practical advice throughout and working seamlessly with our Australian lawyers, HWL Ebsworth.”
The team at FSP was led by Corporate Partner Penelope Garden with assistance from David Clay (Senior Associate, Employment), Gaye King (Associate, Commercial Property), Cathrine Ripley, (Partner, Commercial Contracts & IP), Philip Stephenson (Partner, Corporate) and Olivia Vines (Solicitor, Corporate).