Corporate Transaction Lawyers Colodny Fass Law Handle Complex Cross-Border Driver's License Testing Software Company Acquisition
Date Published: 02-14-2018
Above: Colodny Fass lawyers Tim West (left), Mike Colodny and Brittany Alexander
Shareholders of a corporation doing business in the United States and Canada were successfully represented by the Florida law firm of Colodny Fass in navigating the complexities of a sophisticated cross-border corporate acquisition involving multiple law and accounting firms in Canada and nationwide.
The transaction, which resulted in the acquisition of driver’s license software testing company Solutions Thru Software LTD (STS) by Intellectual Technology, Inc. (ITI), closed during January 2018.
Colodny Fass handled the extensive negotiations, due diligence and documentation entailed in the transaction.
Led by regulatory transactions lawyer Tim West, Managing Partner Mike Colodny and Associate Brittany Alexander, Colodny Fass worked closely with Canadian Brant Fisher of EBT Chartered Accountants LLP, and Reginald Bolton of the Canadian law firm of Bolton Bishop Bowman to resolve related compliance issues for its client, STS.
In its announcement of the deal, ITI explained that the acquisition will significantly expand its product offering and distribution capabilities to the United States and Canada. Terms of the multi-million-dollar transaction were not disclosed.
“Incepted as a garage-based startup over 20 years ago, STS started with its first customer in the U.S., grew into an industry leader, and now counts over 25 governmental jurisdictions as customers, including four Canadian provinces and one territory,” West said.
Colodny Fass had previously represented STS in a government procurement-related matter.
About Colodny Fass, STS and ITI
For over 45 years, Colodny Fass has handled complex corporate transactions, regulation and compliance, administrative law matters, employment law, and government relations. Its Litigation Division represents business and insurance clients in commercial litigation, insurance defense and appellate matters.
STS has been providing state-of-the-art driver knowledge testing systems since 1998 and holds significant knowledge of state and federal driver testing regulations. This acquisition broadens ITI's Software offering to Motor Vehicle Agencies to add Driver License Knowledge Testing to software used for Vehicle Registration transactions, which also will expand ITI's Self-Service Kiosk capabilities.
ITI is the leading provider of software and self-service technologies to motor vehicle agencies in North America, with its products serving to simplify and secure the process of printing and monitoring vehicle registrations, tags, titles and license plate issuances. ITI's print-on-demand software serves approximately 55 million vehicle registrations and tags, and 8 million license plates.
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