Latham & Watkins Advises Francisco Partners on the Take-Private Restructuring of Movella

Movella Holdings Inc. (the Company), a provider of sensors, software, and analytics that enable digital motion capture, has announced the completion of a restructuring transaction involving its wholly owned subsidiary, Movella Inc. (Movella), and Francisco Partners, the Company’s existing senior credit investor. In connection with the transaction, Francisco Partners and certain of its affiliates, the Company, Movella and certain of its subsidiaries, entered into a restructuring agreement, resulting in Francisco Partners owning, through a newly formed partnership, 100% of the capital stock of Movella pursuant to Section 272(b)(2) of the Delaware General Corporation Law.

Latham & Watkins LLP represents the Francisco Partners in the matter with a transactional team led by partners Daniel Mun, Haim Zaltzman, Elizabeth Oh, and counsels Jennifer Wong and Ben Gelfand, with associates Jonathan Kow and Hyunji Lee. Advice on tax matters was provided by partner Katharine Moir and counsel William Kessler; on government contract matters by partner Dean Baxtresser, with associate Chris Caulder; on data and intellectual property matters by partner Jessica Cohen; on trade control matters by counsel Ruchi Gill, with associate Matthew Crawford; on CFIUS matters by counsel Zachary Eddington; on data privacy matters by partner Robert Blamires, with associates Deborah Hinck and Harry Quinn; on benefits and compensation matters by partner Nikhil Kumar; on public company matters by partner Michele Anderson; on white collar matters by partners Christopher Garcia and Raquel Kellert; on China and Hong Kong matters by partner Frank Sun, with associate Jason Zhao.