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March 25, 2019

Kramer Levin Advises BlackRock in $1.3 Billion Acquisition of eFront

On March 22, 2019, BlackRock Inc. announced that it has made a binding offer and entered into an exclusive arrangement to acquire eFront from private equity firm Bridgepoint and eFront employees for $1.3 billion in cash. Based in France, eFront is the world’s leading end-to-end alternative investment management software and solutions provider, with more than 700 clients in 48 countries. BlackRock will integrate eFront with Aladdin, its existing investment platform, the combination of which will offer the industry’s most comprehensive “whole portfolio” investment operating platform. Following completion of the notification and consultation process with eFront’s employee-works council, as required by law, BlackRock and eFront’s shareholders are expected to enter into the definitive securities sale agreement contemplated by the exclusive agreement.

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