Dominion bought the hardware used by Sequoia in 2010, but the parent company of Smartmatic owned Sequoia dnsued Dominion in 2010 for breach of contract. Dominion lost to Samrtmatic in 2012 and they have since shared hardware and data but to what extent is hidden from the public.
https://mega2024.files.wordpress.com/2020/12/svsholding.pdf
Entered 12-07-12
Dominion Canada is a corporation formed under the laws of Toronto, Ontario with its principal place of business at 215 Spadina Avenue, Suite 200, Toronto, Ontario, Canada. 10. Dominion US is a Delaware corporation with its principal place of business at 215 Spadina Avenue, Suite 200, Toronto, Ontario, Canada. A. Background on Sequoia Voting Systems, Inc. 11. Sequoia Voting Systems, Inc. (“Sequoia”) is a Delaware corporation with its principal place of business at 717 17th Street, Suite 310, Denver, Colorado 80202. Sequoia is a wholly-owned subsidiary of the Debtor.
In a March 5, 2010 letter of intent, Dominion US proposed to purchase substantially all of the assets of Sequoia (excluding accounts receivable, cash balances, and tax assets) for an aggregate purchase price of $9.5 million, consisting of $5 million in cash plus up to $4.5 million in contingent payments. 30.
On information and belief, some Sequoia management preferred this third-party offer to a sale of Sequoia’s assets to Dominion. 33. Upon information and belief, based on discovery under Fed. R. Bankr. P. 2004, Sequoia has received the cash consideration from Dominion US under the 2010 APA but none of the contingent payments. It is not expected that the contingent payments will be paid under the terms of the 2010 APA. 34. Setting aside the $4.5 million contingent payments proposed by Dominion (which Plaintiff understands were unlikely to ever be paid), Sequoia sold substantially all of its assets to Dominion US for $3 million, i.e., $2 million less than the amount originally proposed by Dominion US and, upon information and belief, substantially less than a competing offer received from a third party.