Dillon Eustace advises on life sciences IT deal
Dillon Eustace has advised global information technology group NNIT A/S on its €17 million acquisition of Dublin-based Irish software integration company, SL Controls.
Under the deal, NNIT A/S acquired the entire share capital of SL Controls for an upfront payment of €12.7 million before adjustments.
The agreement also consists of an earn-out element, to be realised at the end of 2023, which will be approximately €4.2 million depending on performance.
Integrated
Initially, SL Controls will join the NNIT Group as an independent company, before being fully integrated within NNIT A/S.
The acquisition of SL Controls forms part of NNIT A/S’s plans to grow NNIT Life Sciences internationally, and to further strengthen and grow their portfolio of IT services and solutions to the benefit of their customers.
The Dillon Eustace multi-disciplinary legal team was led by Adrian Benson, partner in the corporate and M&A teams, with support from head of tax David Lawless.
Adrian Benson said: “We are delighted to have supported NNIT A/S on this strategic acquisition that will enable it to further develop their portfolio of IT solutions on a global level. “Both organisations share an uncompromising focus on quality and compliance to support the highly regulated life sciences industry. We wish NNIT A/S every success with the integration of SL Controls and continued development.”