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Feb. 22, 2021
A team led by New York partner Leandro Molina represented CyberLabs, a Brazilian artificial intelligence (AI) startup, in its merger with PSafe, a Brazilian digital security company. The transaction was supported by venture fund Redpoint eventures, an investor in both companies. The deal value was not disclosed.
Partners Jackson Hwu and Wells Hall and associate Drew Hermiller also worked on the transaction. As lead transaction counsel for CyberLabs in the U.S., Nelson Mullins worked with partner Alistair Russell at the Cayman Islands law firm Carey Olsen. The merger creates an AI and cybersecurity group comprising more than 150 engineers and researchers, with projected revenue of 100 million reais (US$ 18 million) for 2021. Going forward, the group's strategy is to focus on enterprise products based on AI, especially PSafe's dfndr enterprise, a solution that helps business deal with data leaks through round-the-clock deep web monitoring, supporting proactive predictive protection.
Molina also last fall represented CyberLabs in raising a $5 million (BRL 28 million) round led by Redpoint eventures. With the investment, the company aimed to expand efforts in research and development of AI to help the reopening of the Brazilian economy.
Hwu and Molina are part of the Nelson Mullins Latin America & Caribbean Practice Team, which represents clients in connection with a wide variety of corporate and financing transactions throughout Latin America and the Caribbean region. The team consists of fluent Portuguese- and Spanish-speaking lawyers with more than 90 years’ combined experience working with clients in Latin America and the Caribbean. Nelson Mullins is a national firm with more than 850 lawyers and 25 offices in the United States.
Established in 1897, Nelson Mullins has more than 850 attorneys and government relations professionals with 25 offices in 11 states and Washington, D.C. For more information on the firm, go to www.nelsonmullins.com.
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