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Fenwick & West partner Barry Kramer just helped sell off client Savi Technology to massive defense contractor Lockheed Martin. But if history is any indicator, Kramer might not be saying goodbye for good. Terms of the deal, which closed June 8, weren’t disclosed. However, the San Jose Mercury News placed the transaction at around $400 million. Mountain View-based Kramer has represented Savi � which makes radio frequency identification technology used to track ocean containers � since its formation in 1989. The company currently has a contract to provide the U.S. military with tags to track equipment shipped to Iraq and Afghanistan. This isn’t the first time the Sunnyvale company has been sold. Kramer first helped Savi in 1995, when Texas Instruments bought the company. Then, after TI sold Savi to the Raytheon Company, Savi CEO Vic Verma turned to Kramer in 1999 for help buying Savi back. “I put him in touch with clients who might be willing to fund the buy,” said Kramer. Two of those clients � San Francisco-based buyout fund Vector Capital and Singapore investors Temasek Holdings and TDF Ventures � provided financing that allowed Savi’s management to repurchase the company. Kramer went to work half time with Savi between 2000 and 2004, serving not only as the company’s general counsel, but also helping the quickly growing company with finance and business development. “One of the fun things was that Savi became involved with homeland security and working with the military,” Kramer said. “[Former Homeland Security Secretary] Tom Ridge joined the board in 2005.” Savi’s acquisition by Lockheed will help his client compete with larger companies such as IBM and General Electric, Kramer said. Savi is currently working on a port infrastructure that would span the entire globe. “It’s nice to have a big brother on your team,” Kramer said about Lockheed. Fenwick’s team also included Silicon Valley partners Michael Patrick, Scott Spector, Mark Ostrau and David Forst, associates Kristin O’Hanlon, Blake Martell, William Herochik and Neal Gordon; San Francisco partner David Michaels, and associates Brian Hicks and Jenefer Brown. Lockheed’s team included assistant general counsel Wendy Walter as well as a group from King & Spalding, including partners Glenn Campbell and David Gibbons and associates Seth Frederiksen, Sin-Chang Chiu and Amy Angelo. � Marie-Anne Hogarth MEYER SMOOTHS FLEETPRIDE DEAL Working on an active auction process tends to reduce the number of legal documents, easing a deal through with less paperwork, said Bruce Meyer, a Gibson, Dunn & Crutcher partner in Los Angeles. That was true in Gibson, Dunn’s representation of the Aurora Capital Group in its $500 million sale of Fleetpride Corp. to Investcorp. Fleetpride is the largest independent distributor of aftermarket heavy-duty truck and trailer parts in the United States. Aurora Capital, a Los Angeles-based investment firm, had invested Fleetpride for the past eight years, leading a team of funds. The transaction was a fairly typical auction process, where the seller invited a number of interested parties to submit bids. As part of the auction, lawyers at Gibson, Dunn prepared a contract for the bidders. When they submitted their final bid, they also turned in their own markup of the contract. “The bidders were told that the degree of their markup would have an impact on the acceptability of the offer,” Meyer said. “Thus, the bidders were circumspect in the degree of the markup and that greatly expedited the process.” Active auctions are generally useful because they drive up the price to a reasonable amount. “Bidders understand that if they want the deal, they have to price the deal fully and fairly,” Meyer said. Selling off Aurora’s stake in Fleetpride wasn’t a tough sell because all the desirable features were in place, Meyer continued. “The company is doing well, it has a great management team and they have a good set of financial controls and organization,” he explained. “There are opportunities for growth in the business.” But perhaps most importantly, Meyer said, there is a lot of money on the sidelines from a variety of other private equity firms eager for good deals. Gibson, Dunn has been the corporate transactional lawyers for Aurora Capital Group since they were formed in early 1990s. The team included Meyer and partner Timothy Hart. Dewey Ballantine represented Investcorp. Its team included partners Michael Aiello and Morton Pierce and associate Russel Perkins.Kellie Schmitt

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