On July 7, 2000, Texas-based SBC Communications Inc. (SBC) invested over US$115 million to acquire a controlling interest in Toronto-based InQuent Technologies Inc. (formerly, WebHosting.Com Inc.). The investment will enable SBC to integrate its hosting services with its network security services, monitoring capabilities and e-commerce platforms to provide customers with complete e-business solutions. SBC will use its web hosting capabilities, through InQuent, to support the rollout of a series of application service provider and applications hosting offerings.
Tom Giltner, in-house senior counsel for SBC, called on Torys to assist in the transaction. The Torys team included Beth DeMerchant, Karrin Powys-Lybbe, Hugh O’Reilly, Steve Richardson and Laurie LaPalme, Theresa Gregoire in Toronto, and Bob Ouimette and Carol Divine in New York.
InQuent’s Vice-President Legal & Business Affairs, Wayne Bigby, was assisted in the transaction by the Toronto office of Blake, Cassels & Graydon LLP. The Blakes team included Sheldon Burshtein, Frank Guarascio, Frank Arnone, Peter Lee, Marcia Cooper, Anoop Dogra, Cheryl Wolff and Joyce McGuiney. Advice to a significant shareholder of InQuent was provided by Donahue Ernst & Young. The Donahue team included Jane Kirby Donahue and Mark Ellis.