Kocian Solc Balastik Advises Solitea on the acquisition of VASCO and Gesteem Society
October, 2022 - Prague, Czech Republic
KSB Advising Solitea on the acquisition of VASCO and Gesteem Society
KSB's team (led by Drahomír Tomašuk and Ján Béreš, supported by Josef Novotný for the transactional part and due diligence, and furthermore consisting of Jaroslav Zahradníček, Viktor Zelinka and Denisa Josefiková for due diligence and Pavel Dejl, Martin Vráb and Karolina Vosátková for competition issues) advised its long-term client, Solitea, on the acquisition of two other IT companies.
The first is the acquisition of VASCO, a Slovenian IT company that is engaged in developing and selling IT enterprise systems. Vasco will become part of Slovenian company SAOP, which Solitea owns and which brings together companies operating on the Croatian, Slovenian and Serbian markets. The acquisition helps Solitea strengthen its presence in the Balkans. KŠB’s advice included drafting and fine-tuning the transaction documentation, and advice on corporate and competition issues, as the transaction was subject to the approval of the Czech and Slovenian competition authorities.
In the second case, Solitea acquired Gesteem Society, which operates in the Czech Republic, Slovakia and the Netherlands. Gesteem is a major supplier of so-called business intelligence solutions and data warehouses. In this acquisition, which is still subject to the approval of the Czech Competition Authority, we provided our client with complex transactional legal services.
Solitea is one of the largest suppliers of accounting and business information systems in the CEE region, has 1,400 employees, and has acquired a number of companies in recent years, often with KŠB’s support (recent acquisitions include Techniserv IT, Mainstream, Prytanis, AspectWorks, D3Soft, Axiom Provis, BI Experts, CDL SYSTEM, Clever Decision, Touchscreen, Dynamica, GEMMA Systems, Smart software, Vema and others).
