San Jose, California-based Adobe Systems Incorporated acquired Ottawa-based Accelio Corporation on February 1, 2002. The transaction, completed on April 12, 2002, was structured as a stock-for-stock exchange through a plan of arrangement. As consideration for the merger, Adobe issued approximately 1.81 million shares in exchange for all Accelio outstanding equity securities, which at the date of closing were valued at approximately US$71 million. In connection with the acquisition, Accelio repurchased all outstanding stock options for cash payments of approximately US$1.3 million.
In Canada, Adobe was represented by Aird & Berlis LLP in Toronto, with a team led by Jay Lefton, and comprising Peter Czegledy, K. Paige Backman, James McVicar, Barbara Worndl, Eldon Bennett, David Takenaka, David Dembroski and Valerie Edward. Cooley Godward LLP in Palo Alto, California represented Adobe in the U.S., with a team that included David Lipkin, Luke Bergstrom, Heather Turner, Glenn Nash, Karen Shaw, Bill Pierznik and Julie Wicklund.
Accelio was represented by LaBarge Weinstein in Ottawa, with a team led by Deborah Weinstein, and including Michael Dunleavy, Paul Amirault, Shane McLean, Prashant Watchmaker, Adam Kubelka, Paul LaBarge, Lawrence Weinstein and Lucia Di Primio.