DLA Piper has advised NASDAQ listed HomeAway Inc on its purchase of Stayz Pty Ltd, a wholly-owned subsidiary of Fairfax Media Limited [ASX:FXJ], for A$220 million, making it one of the most significant M&A deals in the technology, media & telecommunications sector in Australia in 2013.
HomeAway is an international online vacation rental marketplace operating across the United States, Europe, Asia and South America.
Head of Corporate, Asia Pacific, Bryan Pointon led the DLA Piper team and, with corporate and technology specialist, Joel Cox, worked closely with HomeAway’s Co-founder, Carl Sheppard, and General Counsel, Melissa Fruge, to negotiate and close the transaction. The team was also supported by DLA Piper tax partner Jock McCormack and Palo Alto Special Counsel, Trina Oettinger.
The transaction involved a competitive sale process with HomeAway advised by UBS and DLA Piper and Fairfax advised by Goldman Sachs and Herbert Smith Freehills.
Bryan Pointon said: “Stayz represents a significant strategic acquisition for HomeAway, a long term client of DLA Piper in the US. We have worked with HomeAway on a number of acquisitions in the region. This acquisition is the most material to date. We are delighted to have been part of the team of advisors helping HomeAway to achieve its strategic objectives.”
DLA Piper also advised HomeAway on the acquisition of majority control of Singapore based rental site travelmob.com in June this year and a majority purchase of New-Zealand-based rental site Bookabach in November. DLA Piper supports HomeAway using its significant global reach, with a trans-Pacific team comprising M&A, taxation and technology specialists advising on each acquisition.
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