Attorney Referral List

Press Releases

NEWS RELEASE

 

March 13, 2008

FOR IMMEDIATE RELEASE

Thelen Closes Sale of U.S.-Based Systems Task Group to Mastek for $29 Million

'

 NEW YORK -Following several frantic weeks of negotiation, a Mergers and Acquisitions team from Theln Reid Brown Raysman & Steiner was able to strike a deal for client Systems Task Group International Ltd. (STG) in its sale to India-based Mastek for $29 million.

STG provides software solutions to the property and casualty segment of the insurance Industry. Under the terms of the all-cash acquisition, Mastek will take a 100 percent equity stake in STG.

The Thelen team was led by New York partner Sarah Hewitt and associateEdwin Opoku and the sale of STG and related discussions involved a Herculean effort on the part of a number of attorneys across a variety of practice areas.

The deal began in May 2007, and originally was targeted to close in July 2007. But, a number of unanticipated issues arose during related discussions with the first buyer, which then led to a second buyer, and ultimately required help from Thelen's Tax, Immigration, Employment, Technology, Media and Communications (TMC), Environmental, Real Estate, and Litigation groups.

Thelen attorneys who worked on the deal included Brian Gallagher andAdam Bergman (Tax); Richard GreenandBetsy Golden (TMC); Mitch Fishberg (Employment); Jo Anne Adlerstein (Immigration); and Joseph Muccia (Litigation).

Other attorneys involved in the deal were partners Ken MacCallum, Ben Delancy, James Karas, Daniel Berman, Beverly Garofalo, Robert Nelson and Lisa Cole, associates Vicki Nielsen, Katarzyna Lessard and Sam Molinari and counsel Anand Shah.

 

For more information, contact:

Kevin Livingston
National Manager of Public Relations
Thelen LLP
415.369.7224
klivingston@thelen.com

 

About Thelen
Thelen is an international law firm with approximately 600 attorneys and is widely known for its premier practices in the areas of Construction; Corporate/Finance; Technology, Media, and Communications; Energy; and Complex Litigation. Other premier practice areas of the firm include Real Estate, Labor and Employment, Intellectual Property, Bankruptcy, Domestic and International Tax, and Employee Benefits.

'