Yorkshire Law firm Gordons advises Vianet on key strategic acquisition of Lookout Solutions
Wednesday 26th October 2011
Yorkshire law firm Gordons has negotiated a key acquisition for Vianet Group plc, the leading provider of real-time monitoring and data management systems for the leisure and forecourt solutions sector.
Vianet, based in Stockton-on-Tees, has acquired Lookout Solutions, a vending industry telemetry solutions provider, for an undisclosed sum.
Established in February 2008, Lookout has developed a leading vending management software application which will be integrated with the contactless payment and vending telemetry solutions offered by Vianet.
This integration will create a one-stop-shop for vending telemetry, contactless payment processing and vending management software solutions, attractive to brand owners and vending operators. Lookout numbers a multinational brand owner and soft drinks giant AG Barr among its customers.
Jonathan Asquez, corporate partner with Gordons, negotiated the deal on Vianet’s behalf. He said: “I’m delighted to have advised on the Lookout acquisition which will strengthen Vianet’s already powerful offering in a key area of its operations and hope to help the group again in the future, as it continues to go from strength to strength.”
James Dickson, Vianet chief executive, said: “In addition to Lookout’s excellent management application completing our leading end-to-end solution for the vending sector, we gain a wealth of knowledge and expertise in the industry, through this acquisition. That will prove invaluable as we continue to expand our presence and drive growth in the global vending market.”
Vianet aims to become a market leader in providing telemetry, contactless payment processing and enterprise resource planning software solutions for the global vending market. This strategy has seen it turn around and grow Vianet, which has developed its products and services, as well as signing customer supply contracts with major brand owners, since its acquisition in December 2008.