March.11.2019
Orrick has advised Figure Eight, a privately-held venture backed San Francisco-based machine learning software platform, on its acquisition by Australia-based search and language data services company Appen (ASX: APX).
Appen will pay $175 million up-front for Figure Eight and up to an additional $125 million in 2020 based on 2019 performance. Through the end of 2019, Figure Eight will operate largely independently as a division of Appen to ensure it remains focused on its product development and customers.
The Orrick team advising Figure Eight included Karen Dempsey, Mark Seneca, Nancy Chen, Danny Lopez, Nicole Huang, Keith Tidwell, Mark Nguyen and Harry Clark.