Heuking advises Evora IT Solutions on the sale of a majority stake to Allgeier SE
A team led by Dr. Bodo Dehne and Marcel Maybaum, supported by Dr. Katharina Prasuhn, provided comprehensive legal advice to the shareholders of the Evora IT Solutions Group on the sale of a majority stake to Allgeier SE and acted as lead counsel for the transaction. The purchase price is in the lower three-digit million Euro range.
The sale was made out of a structured and competitive bidding process. The four founders will continue to hold a 40 percent stake in the group as entrepreneurs. The closing of the transaction is expected before the end of November 2021.
Evora IT Solutions is a fast-growing company specializing in SAP and ServiceNow consulting and software development with about 200 employees in Germany, the USA, India, Canada, Brazil and Austria. It supports its customers in the end-to-end digitalization of business processes. The company has in-depth expertise in the implementation and operation of comprehensive asset and field service management solutions and long-standing close partnerships with SAP and ServiceNow as well as other leading software vendors such as Salesforce. The Evora IT Solutions group operates in an agile manner in a global organization and has its own engineering and service center in Bangalore, India. In recent years, the group has successfully completed a large number of projects for customers, some of them multinational, in industries such as life sciences, pharmaceuticals, chemicals, utilities and education in Europe, North America and Australia. With EvoSuite, Evora also has its own software product family. The applications complement SAP's customer service and maintenance solutions and enable customers to digitize and optimize additional business processes.
The group consists of the companies Evora IT Solutions Group GmbH, Walldorf (Germany), Evora IT Solutions GmbH, Walldorf (Germany), Evora IT Solutions Inc., New York City (USA), Evora IT Solutions Pvt. Ltd., Bangalore (India) and Evora IT Solutions GmbH, Vienna (Austria).
Allgeier is a specialized software and IT services provider for the digital transformation of business models. The company supports more than 2,000 customers from the public sector, globally operating corporations, and market and industry leaders in the digitalization and strategic development of their business-critical processes. With a team of over 3,000 software and IT specialists, Allgeier is continuing its focused growth strategy with the buy-and-build approach that has been successful for many years.
The legal advice was provided in cooperation with ECOVIS KSO Treuhand & Steuerberatung (StB Matthias Meyer, StB Johannes Landow, StB Julian Heesemann and StB Stefanie Anders).
Advisors Evora IT Solutions
Heuking Kühn Lüer Wojtek (Germany / Lead Counsel):
Dr. Bodo Dehne (Corporate Law/M&A), Düsseldorf
Marcel Maybaum (IP, Media & Technology/M&A), Düsseldorf
Dr. Katharina Prasuhn (Corporate/M&A), Munich
Sarah Radon, LL.M. (Corporate Law/M&A), Düsseldorf
Dr. Kirsten Thiergart (Corporate Law), Düsseldorf
Peter M. Schäffler (Tax Law), Munich
Michael Kuska, LL.M., LL.M. (Data Protection Law), Düsseldorf
Jerome Merchant + Partners (India):
Banashree Hazarika (all Corporate/M&A, Mumbai)
Lowenstein Sandler LLP (USA, investment control):
Doreen M. Edelman
Christian C. Contardo (all Global Trade & Policy, Washington)
Fredrikson & Byron, P.A. (USA, Corporate/M&A):
Aaron Nyquist (all Corporate/M&A, Minneapolis)
Binder Grösswang (Austria):
Dr. Thomas Schirmer, LL.M.
Felix Fuith, LL.M (all Corporate/M&A, Vienna)
ECOVIS KSO Fiduciary & Tax Consulting:
Matthias Meyer StB
Johannes Landow StB
Julian Heesemann StB
Stefanie Anders StB (all Düsseldorf)