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.)
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