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Cambridge law firm advises on tech company sale

Leading law firm Howes Percival has advised the shareholders of Neontribe Ltd, as they joined the dxw family, with a share sale to digital strategy, design, technology and delivery specialist The Dextrous Web Ltd (dxw).

Based in Norwich and Exeter, Neontribe is a digital agency which specialises in user research, software and design for clients in the charity sector.  Shareholders Harry Harrold, Neil Dabson and Toby Batch, turned to Howes Percival following a referral from a previous client.

dxw operates both in the public and the third sectors and their partnership with Neontribe Ltd has been developing in recent years. The firm is employee owned with 92.5% of its shares held in an Employee Owned Trust for current and future staff and it was this ownership structure and the commonalities in the business’s values and missions which brought the parties together.

Howes Percival advised Neontribe’s shareholders on the sale of their shares to dxw and negotiated and drafted the relevant transaction documentation. The firm also advised on pre-completion transactions for Neontribe, in preparation for the sale.

Sebastian Humberston and James White from Price Bailey LLP worked closely with Howes Percival in the transaction and advised Neontribe’s shareholders on the tax and financial aspects of the deal.

Harry Harrold said, “We are really excited to be working with dxw and are looking forward to developing Neontribe’s future with them. It’s also been a pleasure to work with Howes Percival and Price Bailey on this. I am very glad a contact suggested Howes Percival to me and I won’t hesitate to recommend them if a similar conversation arises in the future.”

Howes Percival’s corporate team in East Anglia also recently advised Touchdown PR Limited on the sale of the company to US headquartered Ruder Finn, one of the world’s largest independent global communications agencies, and the sale of digital design and software agency Lola Tech to DataArt Technologies, a global software development company, headquartered in the US.

Howes Percival Corporate Partner, Oliver Pritchard, commented, “We are absolutely delighted to complete this transaction for Harry, Neil and Toby and wish all parties involved the very best for the future. We are building a name for ourselves in the digital, software and tech space and it is always fantastic to be referred within a sector by happy clients.  It is a significant industry here across East Anglia and we have completed a range of deals recently, including transactions with overseas buyers.

“We continue to be busy with corporate transactions across a range of sectors in East Anglia. Despite the economic challenges, strong, resilient businesses and those in particular sectors remain attractive to investors.”

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For further information please contact: gordon@mawcomms.co.uk

Notes to editors:

Howes Percival has offices in Cambridge, Leicester, Manchester, Milton Keynes, Northampton, and Norwich.  It has 47 partners and 171 lawyers in total.

The firm is recommended in The Legal 500 – the authoritative guide to the UK’s leading law firms.  In the 2023 guide, no fewer than 10 different departments achieved the guide’s highest possible ranking (Tier 1): Corporate and Commercial; Dispute Resolution – Commercial Litigation; Dispute Resolution – Debt Recovery; Finance – Insolvency and Corporate Recovery; Human Resources – Employment Law; Private Client – Tax, Trusts and Probate; Real Estate – Commercial Property; Real Estate – Property litigation; Real Estate – Environment & Planning; Intellectual Property.

Howes Percival has been ranked in the ‘Best Companies to Work For’ list three years running.  The 2022 list saw the firm rise 13 places to 59th position in the UK’s 100 Best Large Companies to Work For category and 8th in the Top 10 Best Large Law Firms to Work For list. The firm achieved a 2 star Best Companies accreditation, which is given to organisations with an ‘outstanding’ commitment to workplace engagement