Vector Completes Acquisition of 20-20 Technologies

Vector Capital Corporation (“Vector”) completed the acquisition of 20-20 Technologies Inc. (“20-20”) pursuant to a statutory plan of arrangement under the Business Corporations Act (Quebec) (the “Arrangement”). In accordance with the terms of the Arrangement, shareholders received $4.00 per share, in cash. Jean Mignault, Founder and Chief of Strategic Direction of 20-20 sold approximately 80 per cent of his interest in 20-20 for consideration of $4.00 per share, in cash, and received an indirect equity interest of 9.9 per cent in the continuing company for the remaining 20 per cent of his interest. In connection with the acquisition, Vector arranged financing with Wells Fargo Capital Finance Corporation Canada, part of Wells Fargo & Company (NYSE: WFC”) (“Wells Fargo Capital Finance”), and THL Credit Advisors LLC (“THL”) for a portion of the acquisition price of approximately $77 million.

Vector was represented by Osler, Hoskin & Harcourt LLP with a team comprising Emmanuel Pressman, Ward Sellers, Chris Main, Robert Hughes, Hugo-Pierre Gagnon, Ryan Sakamoto and Jay Greenspoon (corporate/M&A); Constantin Troulis, Scott Horner and Joshua Lam (financial services); Patrick Marley, Kimberley Wharram (tax) and Fabrice Benoît (litigation). In connection with the financing, Vector was also represented by Kirkland & Ellis LLP in the US with a team comprising Samantha Good, Brian Ford and Brian Golper.

20-20 was represented by Stikeman Elliott LLP with a team comprising Steeve Robitaille, Benoît Dubord, Marie-Ève Ferland, Olivier Boulva and Jeremy Sculnick (corporate/M&A); Luc Bernier, Corine Di Maria (fiscal); Paul Collins (competition); Yves Martineau, Lev Alexeev and Alexandre Thériault-Marois (litigation); and Hélène Bussières (employment and labour).

The special committee of the board of directors of 20-20 was represented by Fasken Martineau DuMoulin LLP with a team comprising Robert Paré and Frédéric Boucher.

In connection with the financing, Wells Fargo Capital Finance was represented in the US by Goldberg Kohn Ltd. with a team comprising Seth Good, Randall Klein, Joseph Zizzo and Jeffrey Dunlop; and in Canada by Goodmans LLP with a team comprising Jean Anderson, Lisa Mantello and Grant Coad. THL was represented by Proskauer Rose LLP with a team comprising William Brady and Jessica Ball.