On January 3, 2001, InfoSpace Inc. (InfoSpace) completed its acquisition of Montreal-based Locus Dialogue Inc., a global leader in speech recognition technologies and speech-enabling applications. The acquisition will bring advanced, multilingual natural language understanding and speaker verification technology to the InfoSpace wireless platform. InfoSpace is a leading global provider of cross-platform merchant and consumer infrastructure services on wireless, broadband, and narrowband platforms.
The exchangeable share transaction provides the vendors with the option of receiving publicly listed shares of InfoSpace on closing or taking shares of a Canadian company that are exchangeable later for publicly listed shares of InfoSpace. Based on the trading price of InfoSpace shares on November 3, the transaction was valued at between US$104 and $133 million.
The team from the Toronto office of Fasken Martineau DuMoulin LLP representing InfoSpace included Ian Kyer, Richard Johnston, John Marsalek, Bill Bies, David Coultice, and Angela Di Padova; members of the Montreal office involved in the transaction were Sunny Handa, Marie-Hélène Constantin, and Peter Villani. Wilson Sonsini Goodrich & Rosati, P.C. are InfoSpace’s US counsel.
Locus Dialogue Inc. was represented in Canada by at team from Ogilvy Renault of Montreal, led by Clemens Mayr and Eric Stevens. Locus was represented in the US by Pillsbury, Madison & Sutro LLP.