MiniMax Corporation sold to Powel ASA - followed by an 8-year relationship.

The M&A Group represented the owners of MiniMax Corporation, a St. Paul, Minnesota based software development company, in a negotiated process to sell its shares to a European strategic buyer and partner. Following a successful transaction and integration, the name was changed to Powel, Inc. The buyer, Powel ASA, at various times hired us back to seek additional opportunity in the US market, via potential add-on acquisitions and/or technology and software licensing transactions. Powel ASA, re-assessed their strategic options after 6+ years and decided to exit the North-American market. They retained our services to sell the US subsidiary. Following a full and competitive process, the assets of Powel, Inc. were sold to GeoDigital Corporation, a Toronto, Canada based entity with complimentary strategic business interests. Post transaction, Powel ASA appointed The M&A Group’s Managing Partner, Ivar Sorensen to be the surviving company’s sole Director and CEO. Over a period of 2+ years, Sorensen successfully completed the process of collecting deferred transaction proceeds and the unwinding the US corporate entity.


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