Multinational law firm Davies Wallis Foyster (DWF) has acquired full ownership of legal services provider Mindcrest for US$10.7 million. The transaction comprised US$2.2 million paid in cash and another US$8.5 million was through the issuance of 50 million new ordinary shares in DWF.
An additional considered cash payout of US$7.6 million was deferred and scheduled over a period of six months, resulting in US$18.5 million payable to the Mindcrest sellers. Mindcrest specializes in contracts management, compliance, legal analytics and litigation, investigations. The company has most of its operations in India with a large facility in Pune. Mindcrest also has delivery centres in Chicago, New York and London.
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