News Releases

Baker Botts Represents Zix Corporation in its Acquisition of CloudAlly

Release

Deal Description: On November 9, 2020, Zix Corporation (Zix), a leading provider of cloud email security, productivity and compliance solutions, announced that it had acquired privately-held CloudAlly Ltd., an Israel-based industry leader in cloud-based data backup and recovery for business.

In connection with the acquisition, Zix modified its existing term loan led by Truist Bank by adding additional borrowings of $35.0 million. Zix used a portion of the borrowings to fund the CloudAlly acquisition and the remainder to repay all existing draws under its revolving credit facility.

Baker Botts represented Zix in the M&A transaction and the financing transaction.

Baker Botts Lawyers/Office Involved:

Corporate: Don McDermett (Partner, Dallas); Grant Everett (Partner, Dallas); Jennifer Ybarra (Associate, Dallas); Victor Ochieng (Associate, Dallas)

Finance: Luke Weedon (Partner, Dallas); Keegan Bobholz (Associate, Houston)

Intellectual Property: Luke Pederson (Partner, Washington, D.C.); Andrew Wilson (Associate, Washington, D.C.); Tyler Beas (Associate, Dallas); Elena Polevaya (Associate, Moscow)

Executive Compensation & Benefits: David Schiller (Special Counsel, Dallas)

Income Tax: Steve Marcus (Partner, Dallas)

For more information, please see Zix’s news release by clicking here.

 

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