Solicitors with good track record

May 9 2007 By The Journal

Newcastle lawyers have advised a leading vehicle tracking company on a £1.7m deal. Watson Burton advised Minorplanet Systems plc on acquisition of a 49.9% minority interest in Minorplanet Asia Pacific (MAP) from Vineport Pty for an initial consideration of £1.7m.

The buy gives Minorplanet strategic control over investment and direction of the company's business in the territory.

Minorplanet develops and sells tracking devices for commercial vehicles. These are intended to make roads safer by monitoring vehicles' location and performance, helping ensure drivers take enough breaks.

Minorplanet has its head office in Leeds and operations in Germany, the Netherlands, Australia and Ireland.

Watson Burton corporate finance partner Martin Smith led the legal team. He said: "This is a strategically important deal for Minorplanet and it is rewarding to be part of the team involved in its successful conclusion. This was not a straightforward transaction and it has taken a considerable effort on all sides to reach a completion."

Minorplanet CEO Terry Donovan said: "Australia is a unique and innovative market for telematics. MAP is already working closely with the government to develop new safety products for the HGV industry.

"The increased involvement in this market which this acquisition will bring can only benefit Minorplanet in terms of its knowledge and technology base."