RedDot Solutions in Sale to Hummingbird

Cleary Gottlieb represented the shareholders of RedDot Solutions AG, a German developer and producer of enterprise content management software, in the sale of their shares to NASDAQ-listed Hummingbird Ltd.  The purchase price, which totaled approximately €44 million, includes an earn-out component that is worth approximately €5 million and is payable once RedDot achieves defined performance goals.