SparkCognition’s Acquisition Of Nomura’s Interests In AIM²

Ashurst advised Nomura on the deal, while Latham & Watkins LLP, alongside Appleby, represented SparkCognition.Nomura sold its interest in AIM² to SparkCognition, a leading artificial intelligence (AI) company headquartered in the U.S.

AIM² was launched in 2015 and became a joint venture between hedge fund management company Brevan Howard and Nomura in 2019, and is a financial technology company that is transforming market making and quantitative investment strategy with cutting-edge artificial intelligence products. Brevan Howard have also sold its interest in AIM² to SparkCognition.

As part of the transaction Nomura will continue to licence AIM²’s ORCA/AI Trader product and will be accelerating its global deployment across its flow businesses. This will assist in augmenting banks’ trading ecosystem for broad asset classes such as: Fixed Income, swaps, credit and FX.

The Ashurst team was led by digital economy partner Chris Bates (Picture), corporate partner David Carter and senior associate Jacob Gold, with associates Jack Mendelssohn, Adam Eskdale, Sara Hamzawi also assisting.

Latham & Watkins LLP represented SparkCognition in the transaction with a corporate deal team led by Houston partner Stephen Szalkowski, with Houston associates Alice Parker, Sam Bentley, and Michael Basist. Houston partner Lauren Anderson and London partners Robbie McLaren and Simon Tysoe, along with London associate George Venables, also provided assistance on corporate-related matters. Advice was also provided on tax matters by London partner Sean Finn and Houston partner Bryant Lee, with London associate Aoife McCabe and Houston associate Jared Grimley; on technology transactions and intellectual property matters by Boston partner Sarah Gagan and London partner Deborah Kirk, with New York associates Meredith Ward, Caroline Herald, and David Suh and London associate Grace Erskine; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum, with Chicago associate Daniel Gocek; on antitrust matters by Washington, D.C. partner Jason Cruise and Washington, D.C. counsel Peter Todaro and Sydney Smith and Brussels counsel Tomas Nilsson; and on data privacy matters by London partners Gail Crawford and Fiona Maclean and Bay Area counsel Robert Blamires, with Boston associate Kiara Vaughn.

The Appleby team comprised Partner Mark Brady, Senior Associate Chris Smedley and Associate Stephen Parnell.

Involved fees earner: Mark Brady – Appleby; Stephen Parnell – Appleby; Chris Smedley – Appleby; Christopher Bates – Ashurst; David Carter – Ashurst; Adam Eskdale – Ashurst; Jacob Gold – Ashurst; Sara Hamzawi – Ashurst; Jack Mendelssohn – Ashurst; Lauren Anderson – Latham & Watkins; Michael Basist – Latham & Watkins; Sam Bentley – Latham & Watkins; Robert Blamires – Latham & Watkins; Gail Crawford – Latham & Watkins; Jason Cruise – Latham & Watkins; Grace Erskine – Latham & Watkins; Sean Finn – Latham & Watkins; Sarah Gagan – Latham & Watkins; Daniel Gocek – Latham & Watkins; Jared Grimley – Latham & Watkins; Caroline Herald – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Deborah Kirk – Latham & Watkins; Bryant Lee – Latham & Watkins; Fiona Maclean – Latham & Watkins; Aoife McCabe – Latham & Watkins; Robbie McLaren – Latham & Watkins; Tomas Nilsson – Latham & Watkins; Alice Parker – Latham & Watkins; Sydney Smith – Latham & Watkins; David Suh – Latham & Watkins; Stephen Szalkowski – Latham & Watkins; Peter Todaro – Latham & Watkins; Simon Tysoe – Latham & Watkins; Kiara Vaughn – Latham & Watkins; George Venables – Latham & Watkins; Meredith Ward – Latham & Watkins;

Law Firms: Appleby; Ashurst; Latham & Watkins;

Clients: Nomura; SparkCognition;

Federica Tiefenthaler

Author: Federica Tiefenthaler