On August 9, 2000, Malvern, Pennsylvania-based RAVISENT Technologies Inc. (RAVISENT), a leading developer of software and hardware design solutions for digital entertainment devices, completed its acquisition of Cinax Designs Inc. (Cinax) of Vancouver, British Columbia, in an exchangeable share transaction valued at $20 million.
Cinax is a privately held company in Vancouver that is a leading provider of digital video technologies and tools. Cinax will continue to be based out of Vancouver.
Consideration for the purchase of all of the outstanding shares of Cinax consisted of a combination of cash and RAVISENT common shares or exchangeable shares of a wholly owned British Columbia subsidiary (Ravisent BC) of Ravisent Nova Scotia ULC, an unlimited liability Nova Scotia subsidiary of RAVISENT or both. The exchangeable shares are exchangeable on a one-for-one basis with publicly traded RAVISENT common shares. RAVISENT’s common shares trade on the NASDAQ National Market. After the closing of the acquisition, Cinax and Ravisent BC were amalgamated under the name “Ravisent British Columbia Ltd”.
US counsel for RAVISENT was Brobeck, Phleger & Harrison (Palo Alto, California) with David Makarechian acting as counsel. Canadian agents for Brobeck, Phleger & Harrison and counsel for Ravisent BC was Richards Buell Sutton of Vancouver with Jay Munsie (corporate/tax), Daryl E. Clark (corporate/securities) and Karim Adatia acting as counsel. Ian Muirhead of Owen Bird in Vancouver acted for Cinax.
Cinax is a privately held company in Vancouver that is a leading provider of digital video technologies and tools. Cinax will continue to be based out of Vancouver.
Consideration for the purchase of all of the outstanding shares of Cinax consisted of a combination of cash and RAVISENT common shares or exchangeable shares of a wholly owned British Columbia subsidiary (Ravisent BC) of Ravisent Nova Scotia ULC, an unlimited liability Nova Scotia subsidiary of RAVISENT or both. The exchangeable shares are exchangeable on a one-for-one basis with publicly traded RAVISENT common shares. RAVISENT’s common shares trade on the NASDAQ National Market. After the closing of the acquisition, Cinax and Ravisent BC were amalgamated under the name “Ravisent British Columbia Ltd”.
US counsel for RAVISENT was Brobeck, Phleger & Harrison (Palo Alto, California) with David Makarechian acting as counsel. Canadian agents for Brobeck, Phleger & Harrison and counsel for Ravisent BC was Richards Buell Sutton of Vancouver with Jay Munsie (corporate/tax), Daryl E. Clark (corporate/securities) and Karim Adatia acting as counsel. Ian Muirhead of Owen Bird in Vancouver acted for Cinax.
Lawyer(s)
David Makarechian
Jay Munsie
Ian W. Muirhead
Daryl E. Clark
Firm(s)
Owen Bird Law Corporation
Richards Buell Sutton LLP