McCullough Robertson’s Technology, Media and Telecommunications (TMT) team have advised the founders of Brisbane software start up, ZeroFlucs Group Pty Ltd, on the sale of the shares in the company to a newly incorporated subsidiary of Caesars Entertainment, the casino and hotels conglomerate based in Las Vegas, Nevada, United States.

Founded in 2021, ZeroFlucs provides trading technology for wagering service providers with a simulation-based pricing approach, bringing together data from multiple feed providers. Leveraging our knowledge of the Brisbane TMT market, we provided ZeroFlucs with full transactional support, including the preparation and negotiation of key transaction documents.

The transaction, led by Corporate Partner Ben Wood, involved a multidisciplinary team of TMT lawyers across our Corporate, Digital & Intellectual Property, and Employment practices, who collaborated seamlessly to leverage a strong commercial outcome for the client.

Our team navigated several key issues throughout the transaction, including the negotiation of a complex set of warranties and indemnities around the key software held by the business. This included negotiating alongside Buyer-side warranty and indemnity insurance.