Publicly listed technology conglomerate IPVG Corp. (PSE: IP) sold part of its equity stake in Prolexic Technologies, Inc., a Florida-based Internet technology security firm, to Kennet Venture Partners, a private equity firm based in San Francisco, for $13.86 million. We represented Prolexic in the sale. In addition to the $13.68 million sale, IPVG will be paid $2.88 million from the sale of shares to management team members and IPVG will provide a $3.3 million loan to Prolexic to further support its expansion plans. Founded in 2003, Prolexic was the first company to establish global scrubbing centers to stop DDoS (distributed denial-of-service) attacks in the Cloud and currently provides the most advanced and powerful DDoS detection and network protection systems available.
Representation of B piece and special servicer clients, handling in excess of $130billion in 2.0 CMBSsecuritizations.
Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami...
Representation of an energy companyin its $9.45 billion all-cash acquisition of another energycompany, resulting in the creation of the largest utility holding company in the United States.