Syntonic’s acquisition of assets of the mobile commerce business unit of Zenvia Mobile Servicos Digitais

DCA – Dias Carneiro Advogados and TozziniFreire advised on the deal

Syntonic Limited (SYT.ASX), a mobile platform and services provider, executed a formal binding asset purchase agreement to acquire 100% of the assets of the mobile commerce business unit of Zenvia Mobile Servicos Digitais S.A., a leading Brazilian Application-to-Person (A2P) provider.

Consistent with the indicative terms of the acquisition (refer to the ASX announcement dated 18 June 2018), the asset acquisition includes the intellectual property for the Mobile Commerce Platform (“MCP”), assignment of all active mobile carrier and content provider agreements, and transfer of key employees. In consideration for this asset purchase, Syntonic has paid a purchase price of US$700,000 (A$940,000), and Zenvia will be entitled to an earn-out of 20% of the first $21.5 million (A$28.9 million) of contribution margin1 generated by the acquired assets over 3.5 years.

The acquisition includes the transfer of 11 operations and business support staff to Syntonic’s new subsidiary, Syntonic Brazil, based in Sa~o Paulo, Brazil.

DCA – Dias Carneiro Advogados advised Syntonic with Eduardo Zilberberg (Picture), Débora Trovões Cabral and Karin Luiza Fernandes Rocha.

TozziniFreire Advogados advised Zenvia with a team including Marcela Waksman Ejnisman, Carla do Couto Hellu Battilanaand Silvia Martins de Castro Cunha Zono.

Involved fees earner: Marcela Waksman Ejnisman – Tozzini Freire ; Carla do Couto Hellu Battilana – Tozzini Freire ; Silvia Martins de Castro Cunha Zono – Tozzini Freire ; Eduardo Zilberberg – Dias Carneiro Advogados; Débora Trovões Cabral – Dias Carneiro Advogados;

Law Firms: Tozzini Freire ; Dias Carneiro Advogados;

Clients: Syntonic Ltd; Zenvia Mobile Servicos Digitais S.A.;

Author: Ambrogio Visconti.