Fenwick represented Moov Corporation (doing business as Layer0), a software company that provides development and deployment tooling for website frontends, in its agreement to be acquired by Limelight Networks, Inc. (Nasdaq: LLNW), a leading provider of edge cloud services.
Under the terms of the definitive agreement, Limelight will acquire Layer0 for approximately $32.5 million in cash and $22.5 million worth of common stock, subject to customary adjustments. The acquisition advances Limelight's strategy as an edge-enabled SaaS solutions provider. More information can be obtained from Limelight’s announcement.
The Fenwick transaction team was led by corporate partner Scott Behar and included associate Bree Thompson; executive compensation and employee benefits partner Marshall Mort, counsel Laura McIntyre and associate Cynthia Yuan; technology transactions partner Joseph Schenck and associate Sankalp Kandaswamy; privacy and cybersecurity partner James Koenig and director Brent Hoard; and tax partner Julia Ushakova-Stein and associate Einav Axler.