The shareholders of Nagarro Inc. sold all shares in the company to Allgeier Holding AG in mid-July. During the contract negotiations, the majority shareholders in the company obtained legal advice by Heuking Kühn Lüer Wojtek's M & A experts Dr. Frank Metz and Dr. Ulrich Jork.
The high-end software service provider based in Silicon Valley, USA, develops customized software solutions and generated revenue of about USD 22 million in 2010 with a staff of 840.
Allgeier Holding AG is a leading IT consulting and service company in Germany. The acquisition of Nagarro with subsidiaries in Germany, Sweden, India and Mexico should further strengthen its position in key markets. Allgeier group's service portfolio will be expanded in terms of technology expertise and geographic coverage, its international growth opportunities will be preserved.
In addition, by acquiring Nagarro, Allgeier Holding will secure access to highly skilled IT resources, the value of which is not to be underestimated in times of personnel shortage.
When the earn-out targets are achieved within the next three years, the agreed purchase price may rise to a mid-double digit million amount. As another outcome of the negotiations, Nagarro Inc.'s shareholders will take out a share package in Allgeier Holding AG and additionally continue to be responsible for the company as general managers.
In the negotiations, Heuking Kühn Lüer Wojtek's lawyers were assisted by two counterparts from U.S. law firm Stoel Rives LLP.