MCRM assists Whyline in its sale to CLEAR
Mitrani, Caballero & Ruiz Moreno has counselled Whyline on the sale of its business to CLEAR Secure
Mitrani, Caballero & Ruiz Moreno Abogados has assisted Whyline, a leading provider of virtual queuing and appointment technology, in its sale to identity security platform, CLEAR Secure, Inc. in an all-cash transaction.
The acquisition by CLEAR was completed in record time and was structured as a reverse triangular merger, whereby a wholly owned subsidiary of CLEAR merged with Whyline and became a wholly owned subsidiary of CLEAR.
This transaction included advice to Whyline by MCRM in Argentina, and by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP in the United States. In addition, CLEAR was advised by Marval, O’Farrell & Mairal, and by Fenwick & West LLP, in Argentina and the United States respectively.
With the acquisition of Whyline, CLEAR will introduce expertise in new sectors such as banking, retail and government services, while expanding virtual queuing in existing sectors such as airports, accelerate the company’s expansion into international markets, and leverage Whyline’s cutting-edge technology and experienced technology team to further enhance CLEAR’s products and platform.
Caryn Seidman-Becker, CEO of CLEAR, mentioned: “Whyline and CLEAR share a common mission: to create a better, frictionless future. Over the past five years, the Whyline team has built impressive technology that is helping to change our everyday lives and routines for the better. With this acquisition, we’re helping people and partners spend less time waiting and more time doing what matters most to them.”
Founded in 2015 by a group of Argentinean entrepreneurs, Whyline helps organisations in all sectors manage customer flows through the use of virtual queues. Using Whyline’s mobile app, users can view live wait times, enter the queue remotely or pre-book their appointment and let the software wait on their behalf. Whyline’s partners include the Port of Seattle, Newark Liberty International Airport, Los Angeles World Airport, Charleston International Airport, Western Union, Banco Santander, Banco Macro, Albert Einstein Israelite Hospital and the City of Buenos Aires.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian’s team consisted of attorneys Timothy J. Kulis, Michael S. Hacker, Aditya Perakath and Morgan R. Clarke.
Fenwick & West’s team was comprised of Ethan Skerry, Matt McCabe, Jennifer Wu, Claire Chung.
Marval, O’Farrell & Mairal’s team included partners Pablo García Morillo and Enrique M.Stile, together with associates Maria Soledad Noodt Molins and Maria Eugenia Soncini.
MCRM’s team was made up of partners Mercedes Rodríguez Giavarini (pictured left), María Recondo (pictured top centre) and Esteban Valansi (pictured top right), together with associate Jimena Martínez Costa (pictured bottom centre) and senior consultant Rita Colombo (pictured bottom right).
