MoFo is advising IAR Systems Group AB (“IAR Systems”), a Swedish computer software company that trades on the NASDAQ OMX in Stockholm, in its acquisition of Secure Thingz, Inc., a Delaware corporation. The acquisition includes the issuance of 125,000 class B shares of IAR Systems to the founder and newly appointed CEO of Secure Thingz, Haydn Povey, and the rollover of an existing stock option program for the employees of Secure Thingz.
Secure Thingz was founded by former employees of Arm Limited and develops and sells products for the implementation of embedded security in connected devices. Secure Thingz has provided security solutions for the development platform Renesas Synergy™ Platform through its Secure Deploy™ platform offerings, which was created to solve the major security challenges faced by companies developing for the Internet of Things (IoT).
The MoFo team advising IAR Systems is led New York M&A partner Enrico Granata and capital markets partner Ze'-ev Eiger, and includes New York associates Yiyang Huang and Gena Olan.
Please see the related press release.