The combined c. $180 million transactions (on an enterprise basis) extend Zip’s operations to Europe and the Middle East, following other recent acquisitions in the US and UK.
The ABL team was led by Corporate and M&A partner Gavin Hammerschlag, and supported by lawyers Anna Sandiford and Max Grunwald.
Gavin Hammerschlag commented: “We are excited to have advised Zip on these strategically important international acquisitions. Zip is one of Australia’s leading tech companies, that is determined to deploy its expertise across the globe. The Zip team are market leaders, and we look forward to supporting their continued success”.
As reported in an announcement to the ASX, these transactions will enable Zip to respond to increased demand from merchants across multiple markets. Zip CEO Larry Diamond commented: “The acquisition of Twisto shows our commitment to global growth and follows our ‘Coalition of Founders’ model, where we back strong founders with a shared vision and deep cultural alignment in our quest for global payments coverage”. In relation to Spotii, he added, “The Spotii acquisition is an important step in Zip’s global expansion and international strategy, with Ecommerce in the Middle East on a significant upward trajectory”.
ABL has a long-standing relationship with Zip, having advised on numerous landmark transactions for the company, including its transformative $400 million acquisition of New York based QuadPay Inc.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.