Gilbert + Tobin (G+T) and
Herbert Smith Freehills (HSF) have advised on the sale of an internet of things (IoT) company to a telecommunications giant.
G+T acted for Telstra, which bought MTData for an undisclosed sum. HSF advised the founders of the IoT company, which provides GPS and telematics fleet-management technology to clients around the world.
Telstra said that the company will become a key part of its connected-vehicle business.
“It is always satisfying to help entrepreneurs realise an exit and transition their company to new ownership,” said Nick Baker, the firm’s lead partner on the deal.
Baker was supported by senior associate Kam Jamshidi and solicitors Andrew Frawley and Robert Prosser.
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