- A message
- from
- Garfield Smith
Like the Spring weather in the UK, our Spring update is a little bit late in arriving. It’s been a very busy first half of 2024; our ninth year in business. I hope that the activity in our business is a hopeful sign that the ‘green shoots’ of an economic recovery may be starting to appear elsewhere. Since January all of our corporate and investment lawyers, commercial lawyers and data regulatory lawyers have been kept busy working with our clients in the UK, Europe and in the US.
Our team continues to grow and in March we were pleased to announce that Rhian Radia was joining us as the head of our newly launched employment law practice. Rhian and I have worked together since 2013 and I’m very pleased she has agreed to lead our new employment law initiative. Since Rhian joined, we have assisted several technology businesses on their HR and employment law needs. Rhian has over 23 years of experience practising employment law. You can read more about Rhian’s expertise, experience and capabilities here.
The big news in the UK this year so far has been the announcement that there will be a general election on 4 July. No one at our firm has a crystal ball or a time travelling machine but we were prescient when we held a breakfast briefing for clients at the beginning of this year to launch our white paper, “What could a Labour Government mean for Entrepreneurs selling their businesses?”. Now more relevant than ever, a summary of this white paper can be found in this newsletter here.
On business sales, we were very pleased that our work supporting Benthos, the popular open-source stream processing platform, on its sale to Redpanda Data Inc was very well covered in the technology industry press around the world. Redpanda Data Inc are a streaming data pioneer based in San Francisco in the USA. You can read more about this deal and the work we did here.
Despite this very healthy deal flow, lawyers in the team have managed to get out and about over the past few months. My colleague Caroline Hughes and I attended and spoke at Digital Construction Week in early June on “Intellectual Property Issues arising from the use of AI in Digital Construction Technology”. Also attending was our client innDex, a provider of digital workforce management for the construction industry. You can read more about innDex and our work for them here. More recently we attended London Tech Week and, in the run up to it, gave thought leadership interviews to the technology press and online community. You can find out more about these in this Spring update here.
Warmest wishes,

Garfield Smith
Insights
What Could a Labour Government Mean for Entrepeneurs Selling Their Businesses
We recently partnered with Infinity Corporate Finance to examine what a future Labour Government could mean for Entrepreneurs selling their business in 2024 and beyond. The team at Infinity Corporate Finance examined future government tax changes and how businesses could best prepare for them whilst our team looked at the steps entrepreneurs should take now in order to prepare for a business sale. The primary taxation concern identified by Infinity Corporate Finance is an increase in capital gains tax and how a future rise may directly affect entrepreneurs. How valuations may be indirectly affected by such a rise is also discussed in the paper. In the white paper, we advise entrepreneurs to take six preparatory steps. These range from doing early homework on the valuation of a business to obtaining third party consents to the sale as far in advance as possible. You can read a full version of our insight article here.
Our corporate team advises businesses on every aspect of preparing a business for sale. We routinely work with tax advisors to structure transactions in the most tax efficient manner.
Deal Update
Benthos
We were very pleased to be instructed by Benthos on their acquisition by Redpanda Data Inc. We hadn’t worked with CEO and founder of Benthos, Ashley Jeffs and his team before, but it didn’t take long to get up-to-speed on the Benthos technology and business. As we routinely advise on cross-border transactions, we knew exactly what was needed to complete the deal in accordance with the timetable that Redpanda Data Inc and Benthos agreed. You can read more about the deal in the global technology press. It was featured in Tech Crunch here and in Business Wire here.
CEO and founder of Benthos, Ashley Jeffs said,
“The combination of our streaming connectivity technology with Redpanda Data Inc is a game-changer for the streaming data industry. We’re ushering in a new era of real-time data autonomy. Developers can now ingest, process and land data from any source through a simple, unified platform with levels of efficiency and power that was not previously possible. I’m extremely grateful for the support that Garfield and his team provided to us. They all worked around the clock to complete this transaction efficiently and without a hiccup in an amazingly short time frame.”
We love working with Founders of early stage technology companies to exit from the businesses that they have grown. We have significant experience in selling businesses to overseas purchasers.
Client focus
innDex
innDex is a dynamic, fast-growing start-up that is transforming construction through robust construction technology with user-friendly accessibility. The story of innDex began with two visionary civil engineers, George Smithies and Aaron Vousden, who were both frustrated by lack of digitalisation within the construction industry. They recognised this as the leading cause of reduced efficiency and productivity and were determined to put their efforts into addressing it.
Being led by civil engineers and industry experts, innDex has first-hand knowledge of the pain points faced by construction professionals. This unique perspective enables innDex to take a customer-centric approach and deliver solutions that are tailored specifically to client needs.
innDex ensures that its business is compliant with data privacy law and regulations. Additionally, becoming ISO27001 and Cyber Essentials Plus certified was a priority for the business. Asked about innDex’s approach to data privacy compliance, innDex’s data intelligence manager, Giulia Papi said,
“As our business grows, our working relationship with Garfield and his team grows stronger too. As specialist data privacy and technology solicitors, they continue to support us by ensuring that we are fully compliant with GDPR so we can properly safeguard our client data and guarantee peace of mind for all our users.”
You can find out more about innDex and how they are helping the construction sector here.
We specialise in advising on data privacy compliance, from regulatory notifications to business-wide audits. We also assist with the handling of data breaches including data loss, hacking and employee fraud.
Other news
Thought Leadership Interviews
Garfield Smith was recently interviewed on the Cloud Industry Forum’s weekly show, TWF! (Tech Wave Forum) by the Cloud Industry Forum’s CEO, David Terrar. The interview explores Garfield’s background in the legal and technology industries, why he set up our firm and how it differs from other law firms in the City of London that service UK and international clients. It also explores the work that our firm does in the technology and data sectors and touches on legal issues that arise from the implementation of AI. You can see Garfield’s interview here.
Additionally Caroline Hughes, our head of Commercial Technology, Data and Media, was interviewed by Efi Pylarinou, one of the world’s best-known Fintech influencers, on her web show, ‘Conversations and Insights’. The interview covered several very topical questions on AI and the law in the context of financial services technology and Caroline shares her own experience of building a Fintech business using AI. You can see Caroline’s interview here.
In the insurance, banking and funds sector, the scope of our advice to technology companies and financial institutions includes matters such as AI implementation, payment processing and trading platform and distributed ledger technologies.
What we do
Outsourcing, Cloud and SaaS
We are recognised as leading experts in IT and business process outsourcing. From pure play IT outsourcing (traditional desktop and cloud or SaaS solutions) to transformational business process outsourcing, we have an international reputation for successfully delivering large and complicated procurement projects.