Waterfront has advised David Mitchell, Jess Stephens and Paul Billington-Dykes, the founders of Tagpoints, in relation to the sale of the company to SmartFocus, a multinational marketing company, for an undisclosed sum. Tagpoints was founded in 2013 and specialises in proximity technology. Tagpoints use beacon technology in shopping centres which allows businesses to make bespoke advertising and offers for customers via their smartphones.
The Waterfront team advising on this transaction was led by Patrick Peake with support from Matt Cunningham.
John McBride provided corporate finance and tax advice to the sellers.
O’Melveny & Meyers provided legal advice to the buyer.
Jess Stephens (who is now Chief Marketing Officer at SmartFocus) said: “This was an important next step in the growth and development of the Tagpoints brand. We are delighted to be joining SmartFocus as we expand the use of the technology. Patrick and Matt at Waterfront helped us with every step of the deal and offered a fast, comprehensive and commercially sound service at all times. We would not hesitate to recommend them to other technology based businesses.”
Patrick Peake said, ‘”Tagpoints have a really exciting product that taps into the fact that nearly everyone now has a smartphone. While some like to use apps to purchase products from home, Tagpoints allows a combination of the traditional shopping experience with cutting edge technology. It was a pleasure working with Jess and David and I wish them well in their new roles at Smartfocus.”
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