News and Press
TLT advises Tollgrade on $12 million acquisition
17 August 2007
TLT has advised NASDAQ-listed company Tollgrade Communications, Inc. in its $12 million acquisition of the business and assets of the broadband test division of Teradyne, a US company listed on the New York Stock Exchange. The deal completed on 1 August 2007.
The TLT multi-disciplinary team that advised Tollgrade Communications was led by partner Richard Tall, and comprised employment and regulation, remuneration and benefits, and corporate finance specialists.
The acquisition involved the application of the Acquired Rights Directive across UK, Germany, Netherlands, Belgium and Czech Republic, which was led by Harry Parker in TLT's employment and regulation team.
Richard Tall, partner at TLT, comments, "the acquisition for Tollgrade is the latest of a series of cross-border deals that TLT corporate finance team has worked on this year. Working with the different applications of the Acquired Rights Directive across Europe brought an added layer of complexity to the deal".
Sara Antol, General Counsel at Tollgrade, said “The TLT team was instrumental in helping us complete this transaction. I was extremely impressed with their responsiveness and attention, as well as the practical nature of their advice. We look forward to continuing to work with TLT as we expand our business and operations into the EU.”
Based in Pennsylvania, US, Tollgrade Communications is a leading provider of hardware and software network assurance solutions for the global telecommunications and cable broadband industries. Tollgrade products and customer reach span over 300 million embedded access lines, more than any other test measurement supplier.
TLT is consistently rated as a leading IT law firm and provides corporate finance, contracts, employment and dispute resolution expertise to established and high growth technology clients. Clients include Oki Printing Solutions, Aardman, Parragon and various FTSE corporations. TLT has sector expertise in information technology and communications, outsourcing, equipment supply, digital media, publishing, brands and intellectual property.
ISSUED - 17 August 2007