Olshan Represents Novation Companies, Inc. in Sale of Corvisa LLC to ShoreTel, Inc.
Yahoo! Finance (here and here) and Milwaukee Business Journal reported that Olshan client Novation Companies, Inc. (OTCQB: NOVC) completed the sale of Corvisa LLC, its wholly-owned subsidiary, to ShoreTel, Inc. (NASDAQ:SHOR) for approximately $8.4 million. With these transactions complete, Novation intends to continue its strategy of seeking to acquire operating businesses or make other investments that generate taxable earnings. Kenneth Mantel represented Novation in this transaction.