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Dragonite (HKSE: 00329) seals a US$75 million deal with Imperial Tobacco (LSE: IMT), using iDeals™ VDR

October 01, 2013

Europe’s second-largest tobacco company, and the world’s fifth, Imperial Tobacco has acquired Dragonite International’s e-cigarette unit for US$75 million as it seeks to close the gap with competitors in new products.

According to Bloomberg, Imperial Tobacco, maker of Davidoff, is lagging behind its competitors British American Tobacco and Philip Morris in developing smoke-free alternatives to traditional cigarettes. The acquisition will put Imperial Tobacco into the race with its contenders in the e-cigarette business.

Dragonite chose iDeals™ as their virtual data room provider to provide sell-side information to multiple potential buyers including Imperial Tobacco.

iDeals™ Solutions has been a provider of secure document management services to the investment, legal and life sciences sectors since 2008. Our flagship product is iDeals™ VDR, a next-generation application that is utilized by companies and leading advisors in over 30 countries around the world.

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