Homestore.com, Inc. (Homestore), a leading internet home and real estate network, announced on June 12, 2000 that it had acquired Richmond-based Top Producer Systems Inc. (Top Producer), a leading North American supplier of leads management and marketing software for real estate professionals. The transaction involved the purchase of all the shares of Top Producer for US$24.2 million in cash and shares of a Nova Scotia Unlimited Liability Corporation exchangeable for shares in Homestore, as well as up to an additional US$16.20 in exchangeable shares based on a four year earn-out formula.
Acting for Top Producer was Lang Michener with a team lead by Karl E. Gustafson, David J. Ross (corporate) and Peter Botz (tax) with support from Albert Pinzon of the New York firm of Mound, Cotton & Wollan on securities issues. Homestore was represented by the Los Angeles firm of Latham & Watkins led by John Newell (securities) with support from Joan Chambers of Borden Ladner Gervais LLP.
Acting for Top Producer was Lang Michener with a team lead by Karl E. Gustafson, David J. Ross (corporate) and Peter Botz (tax) with support from Albert Pinzon of the New York firm of Mound, Cotton & Wollan on securities issues. Homestore was represented by the Los Angeles firm of Latham & Watkins led by John Newell (securities) with support from Joan Chambers of Borden Ladner Gervais LLP.
