Charlotte – Global law firm K&L Gates LLP has advised digital brands portfolio Red Ventures in the pending sale of CNET Content Solutions (CCS) to 1WorldSync, a leading provider of product content solutions and portfolio company of Battery Ventures.
Formed in 2000, Red Ventures includes 100+ digital brands with more than 3,000 employees across 10 cities on three continents. CCS is a leading content-as-a-service provider, generating product information, content, tools, services, and analytics to power global e-commerce sites, and was acquired by Red Ventures as part of its purchase of CNET Media Group (CMG) from ViacomCBS which closed in October.
The multidisciplinary, global deal team advising Red Ventures was led by Charlotte partner Rick Giovannelli and included Charleston partner Andrew Lloyd; Charlotte managing partner Jared Mobley and partner John Allison; San Francisco partner Ali Nardali; Boston partner James Fajkowski; Raleigh partner Leann Walsh; Washington D.C., counsel Kenneth Knox; Brussels partner Francesco Carloni; London partner Paul Tetlow; Melbourne partner John Mann; and Singapore of counsels Ahmad Khalis and Chan Lai Foong; with assistance from Charleston associates Lauren McFadden and Beau Daen; Pittsburgh associate Samantha Beatty; Raleigh associate Avery Miller; Seattle associate Trevor Gates; Charlotte associate Kelsey Poorman; London associate Emma Cooper; Brussels associate Nicolas Hipp; Singapore associate Charlotte Kouo and paralegal Nandana Marur; and Perth associate Sandra Taran.
Giovannelli stated: “We are delighted to continue our partnership with Red Ventures on their key transactions like the acquisition of CMG and this second-stage carve out of CCS. Our team collaborated collectively and quickly around the globe to get this deal signed in a short amount of time after the CMG closing.”
The transaction is expected to close in Q4 2020, subject to certain customary closing conditions.