SLOTINE has advised the founders of Ubudu Asia by Hiploca Ltd on the sale of their shares to the French company Ubudu. Ubudu is a company based in Paris, France and has offices in Hong Kong and in Warsaw, Poland. This acquisition allows Ubudu to become the sole shareholder of Ubudu Asia by Hiploca Ltd and marks a new stage in the deployment of Ubudu solutions in Asia.
Ubudu is a French tech company which provides a solution for high-accuracy and real-time location of people and assets, in order to make organisations leaner and more secure. Ubudu was created in 2011 by François Kruta and Thomas Saphir, two childhood friends passionate about technology innovation. They were later joined by Victor Bogey and Aude Bousser, who founded the Asia office in 2015.
Four years later, Ubudu’s shareholders offered to purchase the shares of Ubudu Asia’s founders in consideration of shares in the French company Ubudu. The cross-border transaction was cashless as the consideration for the shares of Ubudu Asia by Hiploca Ltd was set-off against the subscription price for Ubudu’s new shares. The fairly standard transaction in France was conducted smoothly in a Hong Kong / France cross-border situation.
SLOTINE assisted the founders of Ubudu Asia by Hiploca Ltd since its creation, in setting up a shareholders’ agreement with Ubudu in 2016 and in all aspects of the transaction in 2019, negotiating the share purchase agreement, warranty agreement, allotment of shares and all transaction documents.
The sellers were advised by Maëva Slotine (Partner) and Mathilde Chator (Associate) at SLOTINE | Hong Kong solicitor’s firm.
The buyer was advised by Marie-Anne Fabre (Partner) at Ockham Avocats, Paris.
