Leading international law firm Herbert Smith Freehills has advised Sumitomo Corporation on its investment in DABCO Limited, a digital platform provider wholly owned by Vodafone Group Plc.
This is Sumitomo's second collaboration with UK-based Vodafone Group Plc to create a "new economy" environment enabled by autonomous communication between connected devices.
DABCO provides a digital platform that enables autonomous identification and communication between connected devices. It can automatically process payments and other sorts of transactions using SIM cards under the name of Digital Asset Broker.
"Digital transformation has boosted infrastructure investment in Asia and beyond," said Graeme Preston, Asia head of corporate. "We are proud to use our digital-related expertise to help Sumitomo Corporation to grow through the creation of new businesses."
"This transaction reflects our strength in multijurisdictional advisory and ability to meet client demand for advice on digital transformation in global markets," said Tokyo partner Joseph Fisher.
Graeme and Joseph led a cross-office team advising the client on the transaction, supported by associate Alexander Chuprunov in Tokyo.
Due diligence was supported by Tokyo associate Ryu Long, Kuala Lumpur associate Prakash Selvam, and Tokyo graduate solicitor Elisa Wong.
Global head of cyber and data security Andrew Moir advised on IP law aspects, supported by Jess Welborn in London.
Brisbane partner Aaron White advised on IT aspects of the deal, while Kyriakos Fountoukakos, the firm's managing partner of competition, regulation and trade, advised on competition law aspects, supported by the Brussels office and by London senior associate Ali MacGregor.