Freenet acquires stake in EXARING - Heuking Kühn Lüer Wojtek advises startup EXARING on transaction
freenet, Germany's largest network-independent mobile services provider continues to expand in the digital lifestyle market as a provider of Internet-based applications for private clients. In implementing this strategy, freenet has now acquired a stake in start-up EXARING AG and initially acquired 24.99 percent of its shares.
EXARING AG is advised by Heuking Kühn Lüer Wojtek both operationally and on the transaction. EX-ARING is developing the first fully integrated platform for IP entertainment services in Germany. The company will launch its products later this year and offer its services to consumers. The start-up com-pany’s concept will shift all services consistently to the cloud, with contents transmitted to home TV screens via IP technology. For this purpose, EXARING operates over 11,000 km of closed fiber infra-structure in Germany – with nearly unlimited bandwidth.
Counsel to EXARING
Heuking Kühn Lüer Wojtek (Frankfurt):
Dr. Stephan Witteler,
Markus Lennartz (both IT Law and M&A),
Dr. Philip Kempermann (IT Law, Düsseldorf),
Dr. Till Naruisch (M&A),
Klaus Weinand-Härer (Tax Law), both Frankfurt