Deal Description: Dallas-based Zix Corporation (NASDAQ:ZIXI), an industry leader in email security, today announced it has reached an agreement to acquire 100% of the outstanding equity securities of AppRiver, LLC from Marlin Equity Partners, a technology-focused private equity firm, for $275 million in cash.
The transaction will be financed with a $175 million secured term loan to be provided by SunTrust and KeyBanc and a $100 million preferred equity investment in Zix being made by True Wind Capital, a San Francisco private equity firm that invests in the technology sector.
Baker Botts represented long-time client Zix in the M&A transaction as well as in the related debt and preferred equity financing transactions.
Outside Counsel to Zix Corporation: Baker Botts L.L.P.
Financial advisors to Zix Corporation: RBC Capital Markets and Cowen & Co.
Other party(ies): AppRiver, LLC and Marlin Equity Partners (M&A transaction); True Wind Capital (Preferred Equity transaction); SunTrust and KeyBanc (Debt transaction)
Counsel to AppRiver, LLC: Kirkland & Ellis
Financial advisories to AppRiver, LLC: Evercore
Value: $275 million
Baker Botts Lawyers/Office Involved:
Corporate: Don McDermett (Partner, Dallas); Mollie Duckworth (Partner, Austin); Grant Everett (Partner, Dallas); Luke Weedon (Partner, Dallas); Cynthia Cole (Special Counsel, Palo Alto); Jessica Phillips (Associate, Dallas); Ian Lurie (Associate, Dallas); Jennifer Ybarra (Associate, Dallas); Chad Davis (Associate, Houston); Malory Weir (Associate, Houston); Sara Jones (Paralegal, Dallas)
Intellectual Property: Luke Pedersen (Partner, Washington, D.C.): Tyler Beas (Senior Associate, Dallas); Andrew Wilson (Associate, Washington, D.C.)
Tax: Eric Winwood (Partner, Dallas); Steve Marcus (Partner, Dallas); Marian Fielding (Senior Associate, Dallas); Snow Rui (Associate, Dallas)
Litigation: Jennifer Trulock (Partner, Dallas)
Antitrust: Paul Cuomo (Partner, Washington, D.C.); Michael Bodosky (Special Counsel, Washington, D.C.)
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 750 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.