Fenwick & West LLP represented Facebook, Inc. in its agreement to acquire Instagram, a popular photo-sharing app for mobile devices. The total consideration for San Francisco-based Instagram is approximately $1 billion in a combination of cash and shares of Facebook. The transaction, which is subject to customary closing conditions, is expected to close later this quarter.
The Fenwick transaction team was led by partner Greg Roussel and included corporate associates Christian Lymn, Matthew Karwoski and Morgan Sawchuk; intellectual property attorneys Ralph Pais, Chris Joslyn and Michael Riskin; executive compensation and employee benefits attorneys Scott Spector, Gerald Audant, Elizabeth Gartland and Adriana Sherwood; tax attorneys Adam Halpern and Natalie Pardo de Zela; securities attorneys Jeffrey Vetter and James Evans; and antitrust attorney Mark Ostrau.
More information about the transaction is available from Facebook’s official announcement.