TDR Capital to Acquire Escode From NCC Group

Paul, Weiss is advising TDR Capital LLP on the all-cash acquisition of UK-based software escrow business Escode from global cybersecurity company NCC Group plc. Software escrow involves a software supplier placing a copy of the source code and associated materials in secure storage with a neutral escrow service, ensuring users can access the software if the supplier becomes unable or unwilling to provide it.

Under the agreement, Herringbone Acquisitions Limited and Herringbone Acquisitions Inc., both controlled by TDR-managed funds, will acquire Escode for £275 million ($370 million). The deal is expected to close no earlier than April 30, subject to customary closing conditions.

The Paul, Weiss team is led by partners Will Aitken-Davies, John Patten and Stefan Arnold-Soulby, and includes corporate partners David Holdsworth and Matthew Wilson; intellectual property counsel Georgina Hoy; tax partners Timothy Lowe, Robert Killip and Rohit Pisal; antitrust partners Nicole Kar and Lauren O’Brien and counsel Todd Hahn; and litigation partner Nicole Succar.