Fenwick & West LLP represented Concur Technologies, Inc. (NASDAQ: CNQR) in its recently announced acquisition of privately held Outtask, Inc., provider of Cliqbook, the market leading online corporate travel management service. Under the terms of the agreement, all outstanding equity securities of Outtask will be exchanged for approximately $24 million to $36 million in cash and approximately 2.9 million to 3.5 million shares of Concur common stock all totaling between approximately $67 million and $88 million based on the closing price of Concur common stock on January 20, 2006.
More information about the transaction can be obtained from the Concur Web site at http://www.concur.com/corporate/pr_actual.asp?id=2674.
Fenwick & West attorneys who worked on the transaction include: Corporate attorneys Robert Freedman, David Bell, Blakeney Stafford, Brian Hicks, Paul Nelson, Ryan Hayes, Patrick Kelly, Jennifer Hill, Michael Brown; Executive Compensation and Employee Benefits attorneys Blake Martell, Liza Morgan, Mona Clee, William Herochik; Litigation attorneys Susan Muck, Daniel McCoy, Jennifer Small, Ilana Rubel, Patrick Sherman; Technology Transactions attorneys Christopher Joslyn, Chad Woodford, Jennifer Stanley; Patent Partner John McNelis; Trademark Partner Karen Kitterman; Copyright Partner Mitchell Zimmerman; and Tax attorneys David Forst, Barton Bassett and Neal Gordon.
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