October 20, 2006
Kelley Drye represented i-flex solutions in its acquisition of Mantas, Inc., a Virginia-based provider of anti-money laundering and compliance software, in an all-cash deal for $122.6 million.
i-flex solutions, ltd. (India) and its U.S. subsidiary i-flex solutions, inc. is a global leader in providing software and information technology solutions to the banking and financial services industry, with more than 660 institutional customers in over 120 countries worldwide. The acquisition will create synergies and benefit customers, as Mantas’s software will compliment the i-flex product line of banking, regulatory and compliance solutions.
The transaction, which involved numerous sellers including Safeguard Scientifics, Inc. and various affiliates, was a complex one, navigated ably by a multi-disciplinary team of Kelley Drye lawyers. The result: a successful transaction in which i-flex achieved significant strategic advantages while minimizing risk, complication and exposure.