TASK Group taps KWM on $310m sale

King & Wood Mallesons (KWM) has been tapped to advise ASX lister TASK Group Holdings Limited on its proposed $310m acquisition by NYSE-listed PAR Technology Corporation.

PAR is set to pick up TASK via scheme of arrangement. Under the deal, TASK’s shareholders will be given the option to either receive a full cash consideration or a combination of cash and PAR shares.

According to the firm, the deal signals rising demand in M&A transactions within the software sector. Additionally, it reflects a rising trend of ASX-listed technology companies being acquired.

This transaction also calls for collaboration with the US and New Zealand. The KWM team handling this transaction is being headed by partner Anthony Boogert, working alongside solicitors Richard Karaba and Hae Soo Park.