News Releases

Two Strikes for Baker Botts LLP’s New Technology Sector Team



LONDON, October 9, 2012 -- The London office of Baker Botts LLP, the international law firm which advises global clients primarily in the energy, technology and life sciences sectors, completed two deals within the past two weeks which underline the firm’s strengths in the TMT (technology, media and telecoms) sector.

On Friday, October 5, 2012, Baker Botts advised Acorn Media Group on its acquisition by RLJ Entertainment, for $105m plus non-cash consideration. RLJ Entertainment has also acquired Image Entertainment, Inc, to create one of the largest independent distributors of digital and video content globally. Acorn Media is renowned for its top-quality home media products, including Agatha Christie dramas. Earlier in the year, the same Baker Botts team advised Acorn Media Group on its acquisition of a majority stake in Agatha Christie Limited, the owner of the Christie literary estate.

Late last month, Baker Botts advised its client, Sasol New Energy, on a £15 million strategic investment in the UK-based battery technology company, OXIS Energy. OXIS Energy’s technology has applications in several areas, including applications such as electric-powered transportation.

Baker Botts advised on the English law aspects of both deals. Coincidentally, both deals involved compliance with NYSE regulations, as RLJ and Sasol are NYSE-listed.

Neil Foster, the Baker Botts Corporate Partner who joined the firm last November, advised on both transactions, said: “We are delighted to assist our clients complete strategically important deals in their respective businesses. We were able to bring our TMT expertise to the table, combining our global transaction expertise with in-depth knowledge of the media and high-tech industries, to facilitate the transactions. The TMT-sector team in London has continued to grow in head-count and revenue this year. Our sector-specific focus is paying dividends already.”

“The Sasol deal also indicates the increased use and value of corporate venturing. Many of the big deals in these sectors are being done by corporates, not funds, as financing remains constrained. I expect this trend for corporate venturing to continue,” he added.

About Baker Botts
Baker Botts is an international law firm with over 725 lawyers and a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Throughout our 172-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

The London office opened in 1998. Additional background on the London office is available here.