Geldards advises Spanish-listed Virtualware on its acquisition of Virtalis
Geldards has successfully advised Spanish software pioneer Virtualware on the acquisition of UK-based virtual reality software company Virtalis.
Global experts in 3D technology and virtual reality solutions, Virtualware is headquartered in Bilbao Spain, with offices across the world. Founded over 20 years ago, the company is renowned for providing innovative VR solutions to major industrial, educational and healthcare conglomerates, and is listed on the Euronext stock exchange.
The acquisition of Manchester-based Virtalis more than doubles the firm’s scale, creating one of Europe’s largest providers of immersive visualisation technology. Known for its innovative virtual reality solutions, Virtalis grew from an ambitious project in the National Advanced Robotic Research centre at the University of Salford over thirty years ago. Since then the company has developed cutting edge technology for clients such as BAE Systems and Rolls-Royce.
Geldards Corporate team led by Partner Alex Butler and supported by Senior Associate Sarah Bailey-Parke advised Virtualware on the acquisition. Alex and Sarah were supported by wider Geldards team providing a full-service approach, including Sophie Taylor, Benedict Wills (Corporate), Manjot Shokar (Tax), Mina Dimitrova (Banking and Finance), Gemma Wrighton (Property), Peter Ward (Commercial) and Sue Jennings (Employment)
Commenting on the deal, Alex Butler said:
“We were delighted to advise Virtualware on their acquisition of Virtalis. This was a complex transaction and required input from a number of specialist teams within Geldards. It is also testament to our growing international network and experience in advising international acquirers coming into the UK market.
It is pleasing to see an international business at the forefront of innovation choosing to make a significant investment in the UK. This deal represented a unique opportunity for Virtualware to significantly expand their international footprint.”
Unai and his Virtualware team were a pleasure to deal with. We’re also thankful for the support and collaboration with the LKS Next corporate finance team throughout.”
Unai Extremo, CEO & Founder Virtualware commented:
“Geldards has been a valuable partner throughout this acquisition. Their pragmatic advice, responsiveness and deep understanding of cross-border transactions helped us navigate a complex process with confidence and successfully bring Virtalis into the Virtualware group.”