NOVAtime Technology, Inc. ("Novatime") merged with Ascentis Corporation ("Ascentis"), after which Novatime became a wholly owned subsidiary of Ascentis. Ascentis is a portfolio company of global growth private equity firm Summit Partners.
Novatime is a Rancho Cucamonga, California-based leading developer and maker of software that businesses use to track employees' work hours and attendance. Ascentis, a Minnesota based software development company, sells business software that companies use to manage payroll, recruiting, benefits and other functions.
Tim Chang's Musick Peeler team included Corporate Partners Gary Wollberg and Randy Muhlestein with assistance from Senior Counsel Sharon Chung and involved legal expertise of Tax Partner David Boyce, Intellectual Property Partner Whit Bivens, Employee Benefits Partner David Wright and Real Estate Partner Jeffrey Anastas. The Firm also advised Novatime on compliance with Hart-Scott Rodino Act and IRC Section 280G.