“Behind The Deal: Tech Played Role In Acquisition Of Jacksonville Company,” Jacksonville Business Journal
In an article published on March 7, 2017 in the Jacksonville Business Journal, Jacksonville Managing Partner Dan Nunn and partner Beau Baker provide insight on how they have been assisting in the recent merger of Jacksonville-based The HCI Group and Indian conglomerate Tech Mahindra. The two cities are separated by 8,643 miles and a 10.5-hour time difference. “This deal could not have gotten done like this if not for technology,” Mr. Baker explains. “Technology that has been developed over the past two decades has made doing deals like this possible.” The HCI Group and Tech Mahindra electronically signed an agreement for the information technology giant to buy the Jacksonville company for as much as $220 million, depending on milestones The HCI Group reaches in the next three years, including an upfront payment of $89.5 million. Mr. Nunn describes how the time difference and miles apart impacted the deal. “I’ll tell you this, there’s been an awful lot of conference calls at odd hours,” he said. “Typically early morning and late at night.” For the full article, subscribers to the Jacksonville Business Journal may click here.