The company applied $89m in capital that it recently raised to complete the transaction
Herbert Smith Freehills (HSF) has helped Melbourne-based mobile ordering and payments company Mr Yum acquire customer relationship management provider MyGuestList in its first major buyout.
Mr Yum co-founder and CEO Kim Teo said that the acquisition “will accelerate the company’s mission of connecting venues with their guests in meaningful and valuable ways.”
“We’re thrilled to welcome MyGuestlist into the Mr Yum family,” Teo said. “They’ve built a world-class team and technology solution and we’re excited to pour fuel on the fire and dream big with the innovation that’s possible by combining our two offerings.”
Mr Yum used $89m in capital that it raised recently to complete the transaction. Pursuant to the deal, MyGuestlist’s full-time staff will join Mr Yum’s headquarters in Collingwood to set up a global team of more than 260 employees, who will continue developing innovative tools for hospitality and entertainment venues.
Mr Yum will also take over MyGuestlist’s subsidiary Sprout and all its 23 staff as part of the sale.
Partner Clayton James, senior associate Thomas Kelly, and solicitor Vincent Greco Schwartz led HSF’s venture capital team on the transaction. Also included in the team were venture capital co-head Elizabeth Henderson; partners Aaron White and Fiona Smedley; special counsel Amalia Stone; senior associates Matthew Dempsey, Rommo Pandit and Adam Hickey; and solicitors Katherine Duong, Nick Venn, Marine Giral, Nayan Bhathela and Lucy Halliday.
HSF also tapped a Greenwoods & Herbert Smith Freehills team headed by partner Toby Eggleston to assist on the tax aspects of the deal.