Dorset: Steele Raymond advises PTG on acquisition of Netescape
Dorset commercial law firm Steele Raymond LLP has advised transport software specialist Passenger Technology Group (PTG) on its acquisition of Brighton-based company Netescape.
Passenger offers revolutionary multi-modal, real-time route planning facilities to bus operators that can be used across all digital channels such as mobile, website, digital signage, smartwatches and even voice technology such as Amazon Echo.
The acquisition includes the popular BusCMS website and content management system to enhance the existing offering from PTG. With the business growing rapidly since its July 2016 launch, PTG is building contracts in increments and has already secured prominent bus provider accounts in main tourist areas such as Bournemouth Yellow Buses, Blackpool and Nottingham City Transport.
The transaction also sees Netescape and BusCMS owner Lee Davies joining the Passenger team.
PTG managing director Tom Quay said: “The combination of Netescape and PTG is the perfect marriage between companies with similar backgrounds. Both understand the mindset of tourists and commuters, are based in coastal destinations and have strong digital backgrounds. With its strong digital credentials, Bournemouth has the perfect set-up and pool of talent to continue to grow their offering within this blossoming sector nationally and internationally.”
The transaction was led by partner and company and commercial solicitor Nick Davies and commercial solicitor Shaun Guppy who provided comprehensive support and advice on the acquisition of the business including the drafting of contracts, investigation, resolution and finally the supervision of completion.
Davies said: “We have worked with Tom, Andy and the team for a number of years now and having seen Passenger grow from strength to strength we were best placed to act quickly to ensure that these transactions run as seamlessly as possible. It is a very exciting time for the Passenger team and we’re delighted be key part of their professional support network."
PTG director Andy Brown said: “Having a lawyer on my side who comes up with a creative, intelligent and legal solution to a commercial challenge is fantastic. Steele Raymond are consistently professional, provide a very high quality of service and adhere to their word.”
