Yorkshire lawyers take front seat for US acquisition of driving safety specialist
LEEDS-based Genus Law has acted for Interactive Driving Systems, which provides fleet driver safety management solutions through its Virtual Risk Manager (VRM) platform, on its acquisition by US online driver education specialist eDriving.
The acquisition of the Huddersfield-based business, for an undisclosed sum, followed eDriving’s acquisition of Mentor eData, a consumer-focused telematics app and analytics provider.
“These acquisitions fast-track our vision of offering a full suite of solutions that maximise road safety and constructively empower personal and professional drivers to better control what is happening when they are behind the wheel. If you want safer family cars and lower fleet operating costs with more predictable insurance rates, you need sharper focus on the driver,” said Celia Stokes, CEO of eDriving.
Andrew Cuerden, Interactive Driving Systems managing director UK, said: “It was essential for us to work with lawyers who took the time to understand our business, our ethos and our blue chip client base. The Genus Law team did this and so we had every confidence they were best protecting our interests.
“The transaction was cross border, encompassing both the UK and US jurisdictions and involved the sharing of not only assets and resources, but complex data analytics, telematics data and ground breaking technology development. The Genus Law team supported us closely, providing clear advice during the negotiations and were always available to deal with queries from us and our US colleagues. They handled a complex, time consuming process smoothly, efficiently and with good humour, cementing a deal which is game changing for this industry.”
Ed Dubens, the founder and CEO of Interactive Driving Systems, becomes executive vice president of newly formed eDriving Fleet, LLC.
