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IN THIS ISSUE
UK ELECTION 2001 - CRIMES AGAINST THE WEB
TFB BUYS AVENUE
TFB and its corporate team (which includes Osborne Clarke and KPMG) says it is looking for further opportunities to consolidate its position as the UK's leading legal solution provider, with a combined turnover of over £12 million and a total client base approaching 1,000 medium-to-large practices. (Axxia reported a turnover of £10.3 million for its last trading year, AIM made £4.2 million and Tikit £9.3 million - see also Tikit float story.)
Commenting on the deal TFB managing director Simon Hill said: "The takeover of Avenue positions TFB as the premier player in the UK's legal software market. The Avenue purchase is important for us because the legal software market has been in existence for 20 years, but no single supplier has established a market dominance until today. TFB is continuing to actively pursue further acquisition targets both in the UK and abroad - including the United States - to consolidate its position as a market leader."
Hill also said the opportunity to purchase Avenue not only provided TFB with the ideal platform from which to dominate the market but the positive synergies created between the two companies presented Avenue as a good fit for TFB. Both companies possess similar core strengths and skills, while their products share common origins. Avenue's Solomon software and TFB's Senior Partner II product were developed by the same design team and both Avenue and TFB currently offer Microsoft Windows-based Practice Management solutions with thin client options which provide easier to manage systems, particularly over wide area networks.
The purchase price is not being disclosed but Hill told Legal News Media that the deal would not involve any redundancies. TFB's medium term plan is to develop a common successor system that will combine the best elements of current Avenue, CB and TFB systems. Users of the latest version of Avenue's Wisdom product will be entitled to a free upgrade to this new system however TFB is also committed to supporting users of the older Avenue Solomon legacy system for at least the next two years. There will be a full report in the next issue of Legal Technology Insider.
OLSWANG HELPS BIG BROTHER GO INTERACTIVE
The Big Brother "enhanced" television service is based on technology licensed from Sky (and used by Sky for its own interactive services). The service enables E4 viewers (watching the programme on interactive digital television) to choose from four live television feeds being broadcast from the Big Brother house and to vote for who they want to see evicted. Votes are cast via the modem which is built into digital satellite set top boxes, with 5p of the 25p call charge per vote being donated to charity and the balance split between Sky and Channel 4.
UK law firm Olswang negotiated a series of agreements on behalf of Channel 4 with Sky and SSSL (a Sky subsidiary) to enable Channel 4 to broadcast interactive services on digital satellite. Channel 4 entered into an Application Signing Agreement (an agreement which all broadcasters must sign in order to provide interactive services to satellite viewers) and two further agreements under which Sky developed the Big Brother interactive application and will provide the infrastructure to enable Channel 4 to provide the online voting service. Olswang partner John Enser and assistants Matthew Phillips and Russell Johnstone advised Channel 4 on the interactive arrangements.
TIKIT FLOATS FOR £13 MILLION
AUSTRALIA - MIDWARE MAKES THIRD ACQUISITION IN THREE MONTHS
IMAC's founder Ian McCaskill will remain with Midware, becoming the group's chief technology office, focusing on developing systems platforms and maintaining product development. IMAC has also developed an internet based document assembly and collaboration software system called Webdocs which Midware managing director Mark Flack believes "has the potential to create global opportunities for Midware".
LATEST DOTCOM LAWSUITS
The Wall Street bank CSFB is being sued by creditors of the collapsed internet business MORTGAGE.COM. The move follows allegations that the bank rigged the way sharers were allocated at the time of the company's flotation in August 1999. A spokesman for CSFB said "We believe these allegations have no merit. We intended to vigorously defend ourselves.
MARKETWATCH.COM INC told its shareholders at its recent AGM that it faced five securities class action lawsuits accusing the company, its current or former officers and directors and its financial advisers of alleged improper practices at the time of its January 1999 IPO. The company said it believes the lawsuits have no merit, should not have a material adverse effect on its current business and intends to vigorously defend them.
LITIGATION SUPPORT SYSTEMS NEWS
And, the CASESOFT division of DecisionQuest has launched the CaseSoft Suite. The new suite combines in one package the whole range of CaseSoft litigation software tools, including CaseMap, TimeMap, NoteMap and TextMap. www.casesoft.com
ACT BEFORE 9 JULY TO DEFEND YOUR IP RIGHTS
Cecile Park Publishing, the publishers of the E-Commerce Law & Policy newsletter, have also launched a sister publication - the E-commerce Law Reports. These will be published six times a year and the first year's subscription (£225) also includes access to the online version of the reports. The reports' editorial board includes John Enser of Olswang, Dawn Osborne of Willoughby & Partners and Eduardo Ustaran of Berwin Leighton Paisner.
INTERNATIONAL LAW FIRM AWARDS
US PUBLISHERS OPT FOR XP SMART TAGS
From the publishers of Legal Technology Insider. Click here for the latest legal IT jobs, events diary and additional law reports.
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