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Osborne Clarke advises the management team on the spin-out MBO of LIKEZERO from PwC


Written on 17 November 2020

International legal practice Osborne Clarke has advised the management team on the spin-out of PwC’s proprietary intelligent data capture technology to create a new independent business LIKEZERO, in a management buy-out backed by Souter Investments, the private equity focussed family investment office and Manfield Partners Limited.

LIKEZERO is a leading provider of proven, next generation intelligent data capture technology for the financial services industry which gives institutions deeper, more effective insight into their counterparty risk profile.

LIKEZERO’s unique technology helps banks, financial institutions and other regulated businesses analyse and extract insight and data from within their client contracts, enabling and enhancing their risk management and contract governance, transformation and remediation activities. LIKEZERO enables the automated capture of complex data and then uses proprietary next generation data mining and matching techniques to provide a scalable process for any document type, which operates more quickly and with reduced need for human review.

The Osborne Clarke team was led by Private Equity Partner Tim Hewens with support from Associate Director Pippa Byrne and Associate Alex Littlefield. Partner David Nisbet and Senior Associate Luolan Dong advised on tax matters.

Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the tech, media & comms sector, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.